Tax Preparation and Planning

Tax Return Checklist for Clients

With tax season officially started, you’re likely too busy to personally check in with every client to make sure they are prepared for their tax appointment. That’s why we’ve put...

2/29/24 LEARN MORE
How to Get an Extension on IRS 1099 Filing

When are 1099s due? All 1099-MISC forms that report non-employee compensation (NEC) must be sent to both the recipient and the IRS by January 31. All other 1099s are due February...

2/27/24 LEARN MORE
Form 2553: An Overview of Who, When, and Why

IRS Form 2553, Election by a Small Business Corporation, is filed by a corporation or other eligible entity to make an election to be an S corporation under section 1362(a)....

2/26/24 LEARN MORE
10 Tax Preparer Penalties to Avoid

Your clients count on you to handle their tax issues, and you’ve earned that trust through transparency, customer service, and demonstrating your expertise. When preparing a...

2/25/24 LEARN MORE
What You Need to Know About IRS Form 8855

Tax preparers who deal with estate taxes and trusts are no doubt familiar with IRS Form 8855, Election to Treat a Qualified Revocable Trust as Part of an Estate. Using this form...

2/01/24 LEARN MORE
A 2024 Overview of IRS Form 1041 Schedules

For estate planning and taxation, IRS Form 1041, U.S. Income Tax Return for Estates and Trusts, documents the income an estate earns after the estate owner passes away. It’s also...

2/01/24 LEARN MORE
IRS Issued Identification Numbers Explained: TIN, ITIN, PTIN, SSN,...

It doesn’t take long working with tax forms to realize that the IRS uses a bewildering variety of acronyms. As confusing as the never-ending grouping of letters may seem, it is...

2/01/24 LEARN MORE
What You Need To Know For Tax Season: 2024

Form 990: A Guide for Accountants Working with Non-Profit...

As accountants, working with non-profit organizations requires a deep understanding of specific financial reporting requirements. One of the critical documents that demands...

10/06/23 LEARN MORE
Form 1120: U.S. Corporation Income Tax Return

Form 1120, the U.S. Corporation Income Tax Return, plays a crucial role in the world of taxation for corporations. As an accountant, it is essential to have a firm grasp of this...

9/29/23 LEARN MORE
4 Techniques for Maximizing Firm Productivity with Canopy

In the ever-evolving landscape of financial services, staying ahead requires expertise and the right tools to streamline operations and elevate client experiences. James Merante,...

8/11/23 LEARN MORE
Canopy Partner Connect

At Canopy, we understand how critical it is to have access to trusted and reliable partners who can help you achieve your goals. To assist you in finding the missing piece to your...

5/09/23 LEARN MORE
Q&A — Filing a Form 2848 for Your Tax Clients

In our recent webinar, "Two Clicks to Transcripts with Dawn Brolin," Dawn discussed the firm-wide benefits of Canopy's Transcripts & Notices tool and how it's increased the value...

3/24/23 LEARN MORE
IRS Form 941: The Lookback Period and Deposit Schedules

IRS Form 941, Employer’s Quarterly Federal Tax Return, is used by an employer to report federal income tax withheld from employees (including withholding on sick pay and...

2/10/23 LEARN MORE
A Guide for 2023 Tax Season Webinar — Q&A

In our recent webinar, "A Guide for 2023 Tax Season Individual Updates", we provided a quick guide to understanding the updates for the 2023 tax season and highlighted some ways...

2/01/23 LEARN MORE

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