Top 7 Things Tax Preparers Can Be Thankful for This Year

I can’t help but notice that when I stop and appreciate all the things that go right in my life, all the struggles and things that go wrong suddenly don’t seem so bad anymore by comparison. Focusing on what you’re grateful for is a great way to keep perspective on what’s important in your life. That’s why many of us at the Income Tax School believe in practicing gratitude every day, not just once a year according to the calendar.

At the same time, that doesn’t mean we shouldn’t take advantage of this great moment when the entire nation pauses for a day to give thanks. This is a great time for people to talk to each other and share what we’re all grateful for! Here’s a list of the top 7 things tax preparers can be thankful for this year!

The Cloud

Isn’t technology great? The internet and all these amazing cloud-based software services have made it easier (and cheaper) than ever for individuals to start their own businesses from home or wherever they like. We’re thankful for the technology that helps us and many entrepreneurs run their businesses successfully on a daily basis.

The Tax Cuts and Jobs Act

Love it or hate it, you can’t deny it’s good for the tax preparation industry. From individuals to small business owners to corporations, many people and entities need help right now interpreting the new tax laws. The tax bill also opens up an opportunity for you to offer tax planning services to your clients in addition to tax filing services.

Tax Filing Extensions

Whether you’re waiting on important information and documents or you have a client who just can’t seem to get it together, who hasn’t needed a little extra time to file once in a while? Some people’s tax strategy is to file for an extension every year. Either way, it’s good to know you can get the time when you need it – and hopefully stress about tax prep a little less.

Entrepreneurs

We love entrepreneurs – both because they are some of our best and favorite clients and because we have a lot of love and respect for the entrepreneurs who take the plunge, immerse themselves in Income Tax School classes, and go on to open their own tax prep businesses. We love to see them succeed as they help their clients and ultimately themselves, too.

Great People to Work with

From partners to employees to vendors, we’re always grateful to the people who play different roles in making our own businesses successful. We seriously couldn’t do it without them!

Emancipation Day and When Tax Day Falls on a Weekend

We’re lumping these two items together, because either scenario can push Tax Day out past April 15. In fact, for three years running (2017, 2018, 2019), we’ll have gotten to enjoy a small extension in the regular tax deadline, thanks to April 15 falling on a weekend plus the observation of Emancipation Day on the following Monday. (Washington D.C. always observes Emancipation Day on April 16. If April 16 is on a weekend, the day is observed on the Monday after April 16 – which means government offices, including the IRS, are closed.) It’s a little like getting that last bonus weekend to finish a paper in school.

You

We’re thankful for you – our readers, our ITS students, and the many people who not only have helped make the Income Tax School successful but who we consider a community of peers. From sharing ideas with each other online to catching up at the annual IRS Tax Forums, you are what make ITS so amazing and such a pleasure to be a part of. You motivate and energize us every day, and we love being here for you. So, thank you!

This is just the short list. There are so many things to be grateful for every day, from small things like hot coffee to big things like family and friends. We’d love to hear what YOU’RE grateful for this year in your tax prep business and in your life, so please tell us about it in the comments. And enjoy your Thanksgiving!

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