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2024 TAX SEASON RECAP

May 1, 2024

It was a successful January for getting more clients in compliance with 1099 reporting. The key to this is to start early in the year, provide subcontractors with W-9s, obtain social security and employer identification numbers, and keep your accounting up to date.  This also helps with workers' compensation insurance audits. More stringent 1099 reporting laws are anticipated in the near future and penalties for non-compliance can be burdensome. It is best to be diligent now and not wait until year end. 

 

S&A continues to implement new technologies. Starting in 2023, the Firm implemented SafeSend Organizers and Returns. In 2024 we implemented additional SafeSend products - Signatures, Exchange, and Extensions. The SafeSend suite of products streamlines the data collection and return delivery process for the client and the tax professional. This software also provides high level security for your personal documents and information. S&A is continually looking for ways to implement technologies that will make filing season less taxing for all. 

 

S&A is encouraging all clients to utilize this time saving software. Although the client adoption rate has been very high, we are recommending that all clients learn how to use the software before it is the only option. Tax season is stressful for everyone and utilizing this software will help reduce the stress for all and provide a better experience. 

SafeSend Suite has redefined the way tax and accounting firms handle the entire tax engagement,

while providing an easy-to-use interface for the clients. Learn more:

 

A second innovative technology S&A implemented this year was Sure Prep Tax Automation software. Sure Prep was purchased by Thomson Reuters this year and was immediately available to be integrated with the TR tax software that we utilize. This software helps reduce data input errors utilizing OCR technology and allows the tax professional to spend more time tax planning and advising and not on data entry. Additionally, this software helps the tax professional organize, notate and bookmark the many documents, as well as provides unique insights on potential missing and unreviewed documents. We believe this software has been a great addition to our technology stack. Although clients may not visualize the benefits provided by this implementation, be assured that S&A is utilizing leading edge technology to provide top of line professional services. 

 

"The hardest thing to understand in the world is the income tax."  - Albert Einstein 

 

A third incredible software implemented this year was the Beta version of Thomson Reuters Checkpoint Edge tax research program utilizing AI.  This research technology allows S&A tax professionals to not only provide federal tax research but also multi-jurisdictional research for clients doing business across the country. The program utilizes AI to help the professional to properly word the inquiry to extract the best research results available from the millions of pages of tax code, regulations, revenue rulings/procedures, court cases, and treaties.  S&A will provide the best answer for your situation as this software will help us as, "We Listen, We Analyze, We Advise and We Resolve."


Our goal with the implementation of these technologies is to provide our preparers with the tools to best accommodate our clients while providing our clients with a seamless tax and accounting experience.


SafeSend Gather vs. SafeSend Client Portal: What's the Difference?

January 21, 2025
SafeSend Gather and SafeSend Client Portal are components within the SafeSend One™ platform, each designed to streamline different aspects of the tax preparation and client interaction process. SafeSend Gather focuses on automating the initial phase of tax preparation by simplifying the collection of necessary documents and information from clients. Leveraging advanced artificial intelligence, it automatically generates document request lists, identifies and categorizes uploaded documents, and provides real-time visibility into document completion status. This ensures a frictionless document gathering process for both firms and clients. SafeSend Client Portal , on the other hand, is designed to enhance the overall client experience by providing a centralized dashboard for managing all tasks and documents throughout the tax lifecycle. It offers features such as a downloadable, sortable, and searchable repository of all documents exchanged between client and firm, a simple actionable to-do list, comprehensive notifications for important deadlines, a unified K-1 distribution page, and a centralized location to view and pay estimated or actual tax payment vouchers. This portal empowers clients to have greater independence and control over their tax journey. In summary, while SafeSend Gather streamlines the document collection process at the beginning of the tax preparation, SafeSend Client Portal provides an ongoing, centralized platform for clients to manage their tax-related tasks and documents throughout the entire tax lifecycle. Please reach out to our office if you have any questions about the SafeSend platform and it's features. CLICK or CALL . Source: SafeSend Learn

SafeSend Client Portal User Guide: Simplify Tax Document Management

January 6, 2025
Managing tax documents doesn’t have to be overwhelming. With the SafeSend Client Portal , you gain a secure, convenient, and efficient way to store, access, and share your tax documents anytime, anywhere. This cutting-edge platform is designed with your ease and security in mind, ensuring that your tax preparation process is smooth and stress-free. Benefits of the SafeSend Client Portal Secure Access to Your Documents The SafeSend Client Portal employs advanced encryption and security protocols to protect your sensitive financial information. You can confidently upload, store, and retrieve your tax documents without worrying about data breaches. 24/7 Availability With the portal, your documents are available at your fingertips, whether you’re at home, at work, or on the go. No need to hunt through paperwork—everything is digitally organized in one place. Streamlined Communication The portal allows you to securely share documents with our office and receive important updates or requests. This eliminates the need for back-and-forth emails or physical mail, saving you time and hassle. Environmentally Friendly By using a digital portal, you’re reducing paper waste and contributing to a more sustainable future. User-Friendly Design SafeSend’s intuitive interface makes it easy to navigate, even if you’re not tech-savvy. Step-by-Step Guide to Setting Up Your SafeSend Client Portal Receive the Invitation You’ll receive an email with a link to set up your SafeSend Client Portal. The email will include a secure invitation link that is unique to you. Create Your Account Click the invitation link and follow the prompts to create your account. You’ll need to set up a username and password and provide some basic information to verify your identity. Be sure to hit 'Sign Up' under the login screen before trying to log into an account. Verify Your Identity For added security, the portal may send a verification code to your email or phone. Enter this code to complete the setup process. Log In Once your account is set up, log in using your new credentials. Bookmark the login page for easy access in the future. Explore the Portal Take a moment to familiarize yourself with the portal. You’ll find sections for uploading documents, viewing files, and communicating with our team. Upload Your Documents Use the upload feature to submit your tax documents. You can drag and drop files or select them manually from your device. Accepted file types include PDFs, images, and spreadsheets. Monitor Progress The portal allows you to track the status of your submissions and see any additional requests from our team. You’ll receive notifications when updates are made. Access Your Completed Tax Return Once your return is complete, you can securely download a copy directly from the portal. All files are stored for your convenience and future reference. Still struggling to set up a client portal? Here is, a direct from SafeSend, step by step guide for 1st time portal setup/access: Client Portal Experience – SafeSend Returns Start Using SafeSend Client Portal Today The SafeSend Client Portal is a powerful tool designed to make your tax preparation experience smoother and more efficient. If you have questions about setting up or using the portal, our team is here to assist you every step of the way. Contact us today to get started and take the first step toward a more organized and stress-free tax season!

SafeSend Gather User Guide: Streamline Your Tax Document Collection

January 3, 2025
Collecting and organizing tax documents can be a time-consuming and stressful part of the tax preparation process. That’s why we’re excited to offer SafeSend Gather , a secure and user-friendly tool designed to simplify how you share your tax documents with us. Here’s an overview of the benefits of SafeSend Gather and how to get started. Benefits of SafeSend Gather Secure Document Sharing SafeSend Gather ensures your sensitive tax information is protected with top-tier encryption, safeguarding your personal and financial details during the document submission process. Convenient and User-Friendly Whether you’re at home or on the go, SafeSend Gather’s intuitive interface makes it easy to upload and share documents directly from your computer, tablet, or smartphone. Save Time and Stay Organized The platform’s streamlined approach eliminates the need for printing, scanning, or mailing documents. All your tax files stay neatly organized in one place, ready for review. Track Your Progress SafeSend Gather allows you to see which documents have been submitted and which are still needed, ensuring nothing gets overlooked. Step-by-Step Guide to Using SafeSend Gather Receive the Invitation You’ll receive an email from our office with a personalized link to access SafeSend Gather. This link is unique to you and will guide you to your secure document portal. Log In Click the link in the email and follow the instructions to verify your identity. You may need to input a secure access code sent to your email or phone for additional security. Review Document Requests Once logged in, you’ll see a checklist of the documents we need for your tax preparation. This checklist is customized to your tax situation to ensure we receive all the necessary information. Please be sure to sign your Engagement Letter and fill out your organizer before uploading your tax documents. Keep in mind, you may have additional tax documents to the ones listed in your checklist Gather bases the checklist on the previous tax year, so if there have been any changes to employment, investments(ex: sale of stocks), or assets(ex: purchase of a home) the checklist may not reflect these. Upload Documents Use the upload feature to submit your documents. You can drag and drop files from your device or select them manually. SafeSend Gather accepts a variety of file types, including PDFs, images, and spreadsheets. Confirm Submission After uploading your documents, review the list to ensure everything has been submitted. Once complete, click “Submit” to notify us that your documents are ready for review. Follow Up if Needed If we require additional documents or clarification, you’ll receive an email notification prompting you to log back into SafeSend Gather to provide the requested information. Start Using SafeSend Gather Today SafeSend Gather is just one of the ways we’re making the tax preparation process easier and more efficient for you. If you have questions or need assistance with setting up or using the platform, don’t hesitate to contact our office. Let’s work together to make this tax season seamless and stress-free!
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