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TAX PREPARATION

Is It Too Risky To File Your Taxes With Software Like TurboTax?

By The BIDaWIZ Team on February 18th, 2015 at 5:46 pm

This tax season has gotten off to a rough start for many taxpayers that utilize do-it-yourself (DIY) software to file their returns. Here’s the scenario, you use online tax software such as TurboTax to file your tax return every year. However, this time around, when you log into your account to file your tax return, you receive a message that your return has already been filed. This is the frightening scenario that is now impacting some taxpayers and this could just be the tip of the iceberg. Are you at risk? Read More.

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TAX PREPARATION

Tax Reporting For US Citizens With Foreign Pension Income

By The BIDaWIZ Team on February 12th, 2015 at 9:25 pm

There are over 4 million tax returns filed every year with a taxpayer claiming a federal tax credit via Form 1116. It should come as no surprise that the source of the foreign income covers countries across the world, with Canada and the UK representing the largest portion of the mix. Do you qualify for the foreign tax credit? Read More.

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TAX PREPARATION, TAX REPORTING

How Much Does It Cost To Hire A Tax Professional To File A Return?

By The BIDaWIZ Team on January 15th, 2015 at 4:54 pm
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The tax filing season is set to start next week when the IRS will begin accepting tax returns. Tax filers can buy do-it-yourself (DIY) software or hire a tax professional to file their return. Those interested in hiring a tax professional, may be interested to know how much it costs. An annual survey conducted by the National Society of Accountants (NSA) provides some guidance as to what you can expect in fees. Read More.

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TAX PREPARATION

When Will The IRS Accept Your 2014 Tax Return?

By The BIDaWIZ Team on December 30th, 2014 at 4:57 pm

The 2014 tax season is scheduled to begin on time. According to the IRS, the agency will start accepting tax returns on January 20th, 2015. This comes as a surprise given that lawmakers waited until December 19th to address renewing several tax extender provisions. Read More.

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TAX PREPARATION

Accounting Today Covers Our Survey: Tax Pro Versus DIY Software

By The BIDaWIZ Team on May 30th, 2014 at 5:19 pm

We recently sat down with Roger Russell from Accounting Today to discuss our recently published survey which shows that many of the taxpayers who moved to do-it-yourself tax software came to it from tax prep franchises, not from CPA firms. Read More.

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TAX PREPARATION

Are You Getting Enough Value From Your Accountant?

By The BIDaWIZ Team on May 9th, 2014 at 3:42 pm

When most of us think about our accountant, filing taxes often comes to mind. However, accountants are trusted advisors that can offer much more to their clients than just preparing tax returns. Recently, we had a chance to speak with Greg Freyman to learn more about his New York City based accounting practice and the ways he is able to offer value to his clients. Read More.

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TAX PREPARATION

Are Filers Satisfied With DIY Software or Their Tax Pro?

By Ryan Himmel, CPA on April 30th, 2014 at 11:02 am

The debate as to whether you should file your tax return with a professional or utilize do-it-yourself online software (DIY) continues. The trend though indicates that more taxpayers are shifting toward DIY software as per the latest IRS figures. To dig deeper into this trend, we are sharing our results from customer surveys we conducted throughout the 2013 tax year to shed additional light on this apparent market shift in the consumer tax space. .
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TAX PREPARATION

Choosing the Right Tax Prep Service

By The BIDaWIZ Team on March 14th, 2014 at 7:04 pm

We recently sat down with Tara Lynn Wagner from NY1’s Money Matters to discuss what taxpayers can expect when choosing a preparer for the upcoming tax season. Read More.

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TAX PREPARATION

Should You Always File Jointly?

By The BIDaWIZ Team on March 14th, 2014 at 6:43 pm

In most cases, filing jointly yields more tax benefits than filing separately. Having said that, there are still instances in which you may not want to file jointly and rather elect to file separately. Are you filing to maximize your tax savings and to ensure that you are maintaining compliance with tax reporting requirements? Read More.

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