Software

ATX is a tax solution provided by CCH Small Firm Services with a primary focus on function and value, with bundle options that include tax compliance, research, payroll compliance and document management tools for tax professionals. New for the current year are integration points with PortalSafe, an online portal solution and an improved print manager.

Agile Tax is in its sophomore year as a tax solution. The program was built as an Internet solution, and tax practitioners can process an unlimited number of returns for a fixed monthly cost. The system is designed for high volume tax processing and intended as a standalone product. New for the current release are improvements to the electronic filing functionality and the addition of year-over-year comparative reports.

Bloomberg BNA is typically relied on to provide high levels of tax, regulatory and compliance expertise. Used by thousands of tax professionals, including the IRS, Bloomberg BNA provides a number of solutions for tax, accounting, financial planning and estate planning.

By law, the IRS can assess penalties to taxpayers for failing to file a tax return and for failing to pay taxes. But the failure-to-file penalty is generally higher than the failure-to-pay penalty.

It’s even more difficult than before for most taxpayers to qualify for medical expense deductions now that the “floor” has been raised to 10 percent of adjusted gross income (AGI) from 7.5 percent of AGI.

We live in a mobile world that is becoming increasingly so every day. Expectations are growing among mobile users that they should be able to do anything and communicate with anyone (including your firm) from the convenience of applications on their mobile devices.

This year is a great year to watch for improvements in procedures and processes supported by maturing technology tools. We can look for revolutionary changes to make in our practices. However, evolutionary change can be taught and assimilated in day to day work.

Building a successful business is about more than just finding a market with a need, motivation and savvy, it also requires efficiently managing company’s finances, sales, expenses and other costs. For many small business owners, however, this can become a chore.