Tax season is all but upon us, and with it comes the long hours, heavy workloads, and endless combing of documents that all tax accountants face during the most harried time of their work year. Whether you’re self-employed or working for one of the top tax filing companies, January through April will present a huge array of challenges, not to mention lots of overtime.
The field of tax accounting has grown significantly and will grow larger still, especially in the areas of small business and corporate tax. Many changes have taken place in the industry over the years, requiring tax accountants to spend more time than ever on keeping current with changing best practices and tax laws as new methods of conducting business emerge, according to Forbes. Here are five great websites for tax accountants to help them keep abreast of new changes in the industry and better manage their tax season workload.
1. Financial Accounting Standards Board
TheFinancial Accounting Standards Board website is an excellent resource for keeping updated on accounting standards across all specializations. Well-organized and curated, it is a go-to for keeping updated on accounting standards and, in addition, when new standards will be implemented. A non-profit independent organization based in Connecticut, the Financial Accounting Standards Board has partnered with the Financial Accounting Foundation for the last forty-four years.
2. The Wandering Tax Pro
This humorous, well-researched, and sometimes political blog publishes information related to federal and New Jersey tax law and statutes. Run by longtime accountant Robert D. Flach, this blog may prove not only a valuable resource for information on tax management and law, but occasional educational distraction for truly stressful days at the office. Mr. Flach presents as a gruff but friendly fellow who has garnered a tremendous amount of knowledge during his forty plus years in the accounting industry, and is well worth the read.
3. Accounting Today
Accounting Today serves as a news hub for the accounting and finance community, and will help tax professionals to stay ahead of new developments in tax law and new standards being introduced. Run by SourceMedia, tax accountants may head to the website to view the headlines of the day, receive AT’s newsletter, or engage with Accounting Today via social media channels.
4. Accountancy Age
Accountancy Age is an online publication for UK-based accountants. Like the aforementioned resources, Accountancy Age assists tax professionals in staying ahead of new and emerging practices and standards, and provides essential information on personal tax, corporate tax, and governing tax entities. Accountancy Age provides a regular newsletter and news via social media outlets as well.
5. The Economist
While not directly related to tax per se, The Economist serves as an excellent resource for world finance and economic news that may help accounting professionals of all stripes to gain a deeper understanding of finance and tax as academic fields, and to better understand their role in the local, national, and world economies. The Economist is a well-respected news source on finance and economics, and is well worth the perusal of all who work in the financial sector.
Related Resource: 5 Great Websites for Accountants
Each of these websites provides vital information and resources to stay informed of new innovations, practices, standards, laws, and statutes relating to tax accounting and may help to alleviate the stress all tax professionals face during tax season.