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Tag Archive for TaxConnections

An Exciting New Day For Tax And Legal Professionals – The Only Virtual Office In The Cloud Available Today

Virtual Office In Cloud

According to a study by Edelman Intelligence for Upwork and Freelancers In America, the remote workforce is expected to reach 86.5M professionals by 2027 with Millennials leading the way.

According to @Work, 61 million Gen Z’ers are about to enter the U.S. workforces and change it forever. Gen Z’ers have lived a much different life than millennials and their parents. They are a generation that does not remember a life without a cell phone in their hand.

According to Pew Research, 70 million baby boomers who are adults ages 54 to 72 are staying in the labor force at rates not seen in generations for people their age. All of these statistics tell us our cloud based virtual offices are the future for generations to come.

What is a Virtual Office and why did we build them for the tax, accounting and legal profession? We believe organized professionals save time; our cloud based virtual office save you time and money! What do you receive with a TaxConnections Virtual Office in the cloud? Our members receive a one page mini website that promotes their brand to an audience interested in finding them. Smart alert…people searching for your expertise will not research hundreds of websites to find you. Therefore, you must position your expertise where it easy for people to find you. Smart alert…people are not going to know the associations you belong to and search by association. Think about it? If you need a doctor what health association names do you know right now? Smart alert…most people will not find you when going to sites who charge to see your professional profile. Your marketing will be affected if you rely on  a steady stream of prospects to go to sites who pay to see your profile or send you a message. With a TaxConnections Membership we give you a mini-website; no one every has to pay to see your profile or send you a message;  we drive traffic to your mini website; we raise your visibility on the web, and we give you a virtual office that organizes all your important links for easy access when you only have your mobile phone.

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Find The Good. It’s All Around You. Find It, Showcase It…

MOTIVATIONAL QUOTES

There are amazing professionals in the world who inspire us. Four time gold medalist track and field star Jesse Owens stated:

Find the good. It’s all around you. Find it, showcase it and you’ll start believing in it.

Also, remember the words of these inspirational leaders:

“Be kind whenever possible.It is always possible.”
~ Dalai Lama

“Victory belongs to the most persevering.”
~ Albert Einstein, Theoretical Physicist

“Believe you can and you are halfway there.”
~ Theodore Roosevelt, 26th U.S. President

“Strength does not come from physical capacity. It comes from indomitable will.”
~ Mahatma Gandhi

“An investment in knowledge pays the best interest.”
~ Benjamin Franklin, Inventor, Author, Politician

“The person who says it cannot be done should not interrupt the person who is doing it.”
~ Chinese Proverb

Request Our Complimentary eBook Of 250+ Inspirations

 

IRS Interest Rates On Overpayment And Underpayment

IRS Notice

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning October 1, 2019, as they were in the prior quarter.

The rates will be:

  • five (5) percent for overpayments [four (4) percent in the case of a corporation];
  • two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000;
  • five (5) percent for underpayments; and
  • seven (7) percent for large corporate underpayments.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

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What To Expect From A Revocable Living Trust

Revocable Living Trusts

Living trusts, otherwise known as inter vivos trusts, are created during the lifetime of the person who created the trust, who is otherwise known as the grantor, trustor, or settlor (hereinafter, “Grantor”).  A Revocable Living Trust (“RLT”) can be established for a specified period of time, upon the occurrence (or nonoccurrence) of a specified event, or until the death of the Grantor.  The three essential parties to an RLT are the Grantor, Trustee, and Beneficiary.

The Trustee manages the trust assets for the benefit of the Beneficiary.  The Grantor of an RLT retains the absolute right, during his lifetime, to alter the terms of the trust, amend the trust in whole or in part, and revoke the trust in its entirety.  A revocable trust morphs into an irrevocable trust when the Grantor dies, or when the Grantor surrenders title to the property held in the trust during his lifetime and relinquishes the right to alter, amend, revoke, or terminate the trust.

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The Tax Remote Workforce Has A Very Strong Future

REMOTE WORKERS

According to the 2019 AICPA Accounting Graduates Supply and Demand Report, there are fewer people entering the accounting profession. It is a good report but I have something to add to the report that we hear in the trenches working with tax and accounting professionals every day. There is a very high number of three to five year trained tax and accounting professionals who have something to say on their exit interviews from the top 100 accounting firms. We have been fortunate to hear their voices in private counseling sessions in addition from the firms themselves. We want to share this information with you because it is important. We believe this will be why the remote tax and accounting workforce will continue to grow stronger. This is very good news for tax professionals seeking remote work.

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250+ Inspirational And Motivational Quotes To Manage Your Team And Life

It is important to feed your your mind with inspirational and motivational thoughts each day; in fact, it is healthy. There are people around us that look at the world in many different ways. You have the ability to redirect the minds those around you in a positive way. It is the person with a great attitude that people are most attracted to be around and listen to most. Our complimentary eBook “250+ Inspirational And Motivational Quotes” provides you with phrases you can pass on along to those around you.

Use this compilation of inspirational quotes to communicate with those you manage in your professional life and as well as friends and family in your personal lives. Inspirational quotes help you connect with people and let them know you care, you are thinking about them, and you want to invest the time in them. Start your day reading these quotes and sharing them. We have done the research in compiling these quotes for you to share.

We invite you to download this eBook and use the inspirations to motivate your team, friends and family.

Request 250+ Inspiration And Motivational Quotes

 

 

Eight Reasons The Remote Tax Workforce Is Growing

Kat Jennings

Ever since I posted an article on 1000+ Tax Jobs Coming To You Through TaxConnections, I have been receiving calls and emails from tax professionals regarding full-time, part-time and remote tax jobs.  You will appreciate the reasons remote tax work is growing for tax professionals.  All signs indicate businesses public and private are recognizing the benefits of a remote tax workforce. Here are eight reasons the remote tax workforce is growing.

1. Innovation of computers, phones, connections through video and audio have a major impact on the ability to work remotely. As the remote tax workforce grows on sites like TaxConnections, more companies and governments are now finding it easier to identify this talent.

2. Highly trained Baby Boomers tax professionals (Born 1946 – 1964) want to continue to work and are readily making themselves available for remote jobs today. They prefer to spend the time working from home than managing the increase traffic and delays in transportation. According to Gallop, about one third of today’s workforce comes from the 75 million strong and active baby boomer generation. Baby Boomer tax professionals have a very strong work ethic.

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Remote Tax Jobs – 1000+ Coming Through TaxConnections

Kat Jennings - Remote Tax Jobs

TaxConnections has received calls from multinational corporations, public accounting firms and services firms all over the world to discuss their need for experienced tax professionals. Organizations are changing and so are the needs of tax professionals themselves. Why is the desire to work remotely growing? What are the benefits for organizations that employ remote tax experts? Who is searching to hire a tax professional to work remote?

About two years ago, I received a call from a firm who wanted to hire more than one thousand tax professionals during tax season. They wanted a remote tax workforce and they were searching our site to find experienced tax professionals with a wide range of skills and knowledge. We thought it was wonderful for TaxConnections Members. When I followed up with several tax professionals who worked for them through a busy season, it was then that I realized they paid them by the number of clients they worked with that season. It was a good start for tax professionals who were building new client relationships.

On another occasion, I received a call from an organization who was building a global remote tax practice. They have plenty of work to give remote employees and they pay them by the number of returns they prepare for the firm. They can work when they want and where they want anywhere in the world. Their practice has grown in over 5 countries globally and they love the fact they can simply reach out to our tax professional members as a remote workforce.

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Utah And Oklahoma Now Offering Remote Jobs – These Trends Will Help Increase The Number Of Remote Tax Jobs Created

Kat Jennings Remote Tax Jobs

As indicated in my previous posts on remote work, the trend continues to grow with states like Utah and Oklahoma now offering remote jobs. Telework programs initiated by these states were done for different purposes so it is important to take note of these trends especially when new workforce strategies are being tested and then implemented in these U.S. states. If you want to be part of the remote workforce, it is important to understand who is adopting remote work programs today.

In the case of the state of Utah who conducted a state pilot project, Lt. Governor Spencer Cox stated recently that the pilot program proved that workers productivity went up more than 20% among the 136 state employees who participated in the project.  The study discovered employees are more productive when they do not have a long commute every day; they are also much happier when they do not have the stress of traffic. As a result of the state of Utah pilot program, officials decided to expand the teleworking program with Utah state government employees. The Utah Governor’s Office of Management and Budget believes it will ease expensive building space needs, save tax dollars and reduce automotive pollution. Government Officials also estimate the state of Utah will reduces state costs by lowering the need for office space by 63,900 square feet.

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The Taxpayer Roadmap 2019 – A Lifeline For Taxpayers And Tax Professionals

Nina Olson The Taxpayer Roadmap

In the words of a comment made by one of our readers on a previous post on the taxpayer’s journey, “Whatever time and money was spent on this flowchart is some of the best taxpayer dollars ever spent! I am going to pretend my 2018 tax bill went towards this project, which will make me feel so much better about paying my taxes.”

With the road to tax compliance a very complicated one for many, the National Taxpayer Advocate Team spent a considerable amount of time illustrating the taxpayer’s journey from getting answers to tax questions; all the way through audits, appeals, collection and litigation. The road to compliance is complex to navigate and the reason you need a qualified tax expert to guide you through the process. Their stated goal is to expand on the Roadmap to include links in the future to guide you. On behalf of the TaxConnections community of taxpayers and tax professionals, we want to thank Nina Olson and the National Taxpayer Advocate team for an extraordinary job in building The Taxpayer Roadmap. We also want to thank Nina Olson for her outstanding service of 18 years.

TaxConnections Encourages Your Comments Today In Order To Thank National Taxpayer Advocate Nina Olson Who Retires on July 31st 2019. Great job Nina!

View The Taxpayer Roadmap 2019.

 

 

The Rise Of The Remote Tax Workforce – Where Are These Tax Jobs?

Kat Jennings

For every tax professional who takes the time to comment on an article, there are many more thinking the same. In the case of my recent post, the partial title was “The Rise Of The Remote  Tax Workforce”.

One of the comments on this post stated “As a baby boomer, your recent articles on wanting to work remotely to have increased flexibility strikes a chord with me. One of my managers recently left our company in the indirect tax department because he could stay in the DFW area and work from home on property tax for the corporate office which is several hundred miles away and he only has to go to headquarters on a quarterly basis for a couple of days at their quarter end process.

My question is where do you find these positions in the indirect tax world? I didn’t know if there was more of these opportunities in direct tax and far fewer in the indirect tax world, but I am sure there are many other professionals in indirect tax that are asking the same question.

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Attention Tax Professionals: The Importance Of Changing How You Market Your Tax Services

Kat Jennings Marketing Tax Services

There is an awakening occurring for tax professionals in how they are marketing their tax services. While a herd of marketers rely on clicks and impressions they receive to determine results, we are showing tax firms an entirely new way to get results in new client acquisition. We have always been of the opinion that you cannot establish a relationship with a two second click or an impression. If you are surrounded by marketing teams focused on how many clicks and impressions, you need to refocus on how you are building trusted new relationships.

Executives share with me privately how they dislike being targeted and followed around by ads. They have turned their ad blockers on in the masses. We just went through a research project of the marketing folks in the top 100 law firms and public accounting firms. What we discovered was stunning! More than 70% of the marketers for these firms were gone after three years. This number is huge and significant. The turnover was high because the results of marketers were not there, or the marketing professionals in the firms were so challenged by constant rejection they simply left for a more enjoyable experience. What is happening with marketing tax services today? Why should you change how you market your tax services?

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