Daniel HonanFounder, Profitable Painter CPA PLLC · I help painting contractors increase profits & cash flow while reducing taxes♦ Bookkeeping ♦ Tax

Painting Biz Owners: Be in the know when it comes to Protecting Your Tax Data from being misused.

Name: Painting Biz Owners: Be in the know when it comes to Protecting Your Tax Data from being misused.
Uploaded: 2023-09-26T14:56:42+00:00
Duration: 36 s
Channel: Daniel Honan
Description: In this video segment, the speaker advises painting business owners to safeguard their tax data by hiring qualified tax professionals such as Certified…

26 Sept 2023 · 1 min

Watch on YouTube

0:36

In this video segment, the speaker advises painting business owners to safeguard their tax data by hiring qualified tax professionals such as Certified Public Accountants (CPAs) or Enrolled Agents. He explains that these professionals are bound by IRS‑mandated ethical standards and are overseen by regulatory bodies like the IRS and the American Institute of CPAs (AICPA). Because of this oversight, violations by these professionals carry much harsher penalties than any potential misuse of data by tax‑software providers such as TaxAct, NatureBlock, or TaxSlayer. The core message is that professional expertise and regulatory accountability provide stronger protection against data misuse than relying on software alone.

Chapters

The best way to protect yourself from your data being misused is by using a qualified tax professional. The reason I say that is because enrolled tax professionals are bound by certain ethical standards that are spelled out by the IRS. So I'm talking about like a CPA or an enrolled agent. These are credentialed professionals who are overseen by IRS or the AICPA. These governing bodies are, are holding these professionals to a strict standard. And I can say the punishments for violations are going to be a lot harsher on these professionals than what TaxAct, NatureBlock, and TaxSlayer are probably going to see.