Woody Allen said it best, “Nothing is certain except for death and taxes.” Taxes have been levied since ancient Egypt, originally designed to fund wars and other military activities. The ancient Greeks and Romans also used taxes to fund infrastructure projects like roads and bridges, and to pay for public services. The first record of taxation, or “levies” in the United States comes from the Civil War, however, ratification of taxes into the U.S. Constitution occurred with the 16th amendment, which allowed the federal government to levy taxes on individuals as well as business entities. Taxation has become an important source of revenue for governments around the world. Governments collect taxes through direct means, such as income taxes and sales taxes, and indirect means, such as property taxes. In developed nations, tax codes constantly change and seem to become more complicated as time goes on.
Becoming a tax advisor is a logical path for many accountants. While it is obviously possible to join a nationwide firm like H&R Block, the lure to starting an independent advisory is obvious – one gets to keep all the wages. Understanding the business purpose of the advisory and targeting a specific niche audience is crucial. There are tax advisory businesses that exist to cater to local populations within a city or town, or that specialize in servicing small businesses such as restaurants. Other tax advisories specialize in handling complex investments where the regulatory framework is relatively murky, such as cryptocurrency investments. While face-to-face interactions are relatively common in the tax advisory space, it is now possible to run most, if not all the business online. This provides the flexibility that some tax advisors look for, as many want to be able to work from home, and not rent office space. Thus, it is important to have a reliable tax preparation payment system.
Payment Integrator can make sure your tax advisory business is able to deliver maximum value to customers in your chosen niche. We provide an array of services, such as tax preparation payments processing solutions that can be deployed into your existing on-premise sales tax practice management software or SaaS (software-as-a-service) system. We have a hosted payment page (HPP) that can be branded and delivered with invoices so that your customers never need to call in a credit card number again. We can also provide traditional point-of-sale devices to accept credit or debit cards with a swipe, dip, or a tap. Our industry-leading payment acceptance tools can easily integrate ACH payments, as well as e-wallets such as Apple Pay and Google Pay. All of Payment Integrator’s customer-specific payment solutions are secure, PCI compliant, and operate in a P2PE tokenized environment.
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