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TIPS, TRENDS AND CONNECTIONS FOR USERS OF THOMSON REUTERS SOFTWARE ISSUE 1 | 2017

CLOUD SOLUTIONS: SKY’S THE LIMITShare, sync and store the information you need — anytime, anywhere

ATTRACT AND KEEP GOOD EMPLOYEESOutside-the-box hiring tips from a partner who’s figured it all out

How twin owners are achieving big success in a small market

HOME GROWN

2 SOLUTIONS ISSUE 1, 2017

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Solutions is published by the Tax & Accounting business of Thomson Reuters, 6300 Interfirst Drive, Ann Arbor, MI 48108; 800.968.8900. Printed in the United States. Copyright 2017 Thomson Reuters, Issue 1, 2017. Cover photo by Dan Videtich.

ISSUE 1 | 2017

Questions or feedback? Email your thoughts to [email protected].

Join our online users’ forum, at tax.tr.com/community.

Find more on the web, at tax.tr.com/cs.

PRODUCTS HIGHLIGHTED IN THIS ISSUE Thomson Reuters CS Professional Suite® | Thomson Reuters Onvio® | Thomson Reuters Checkpoint® | AdvanceFlow® | Checkpoint Engage™ | FileCabinet CS® | Fixed Assets CS® | NetClient CS® | PPC’s SMART Practice Aids® | Practice CS® | Practice Forward™ | Quickfinder® | Thomson Reuters Authenticator™ | UltraTax CS®

8USER PROFILE:ORGANIC GROWTHIn small-town Bolivar, Missouri, one accounting firm is experiencing big-time gains, thanks to the two owners’ focus on efficient operation and client service.

4NEWSLINEAn online audit solution; a hidden treasure to help demonstrate value to clients; how to quickly and confidently respond to IRS notices.

6SOFTWARE IN ACTIONHow one firm serves a younger and increasingly mobile clientele with the help of Thomson Reuters Onvio.

12INDUSTRY AT LARGEHaving trouble attracting, hiring, and keeping good talent at the firm? Try these tips from a partner who’s had success.

14ANSWERS & IDEASAdding a powerful layer of security to your financial data; searching your clients’ data to better serve them — and you! — well beyond tax season.

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VIEWPOINT

Data Security: How We’re Working to Keep You SafeHackers are getting smarter — so we’re getting smarter, too.

In 2015, hackers used information from social media to steal 724,000 taxpayers’ return data from the IRS Get Transcript system. In 2016, cybercriminals stole Social Security numbers from outside the IRS to obtain e-filing personal ID numbers that could be used to e-file returns.

We need to take strategic actions to address ongoing threats like these. Hackers are increasingly targeting tax and accounting firms of all sizes — whether they operate on local networks or in the cloud. Many security experts believe that firms operating on local networks are even more vulnerable.

It’s more important than ever for firms to stay vigilant. From fortifying security technology to making simple changes in procedures and awareness, there are many things they can do to keep firm and client data safe. Take password protection: Passwords you use in your office to access client data should be unique to your office and never shared or used anywhere else.

The intensity and sophistication of phishing and spear-phishing attacks on our profession is increasing, which is why it’s important to be diligent with email. If you don’t know the sender, don’t open the email or any links/attachments. These attempts can take you to a false URL that captures your credentials or leaves malware installed on your computer and network that logs every keystroke. And once your firm is compromised, so is all of its data. Recovering from such a situation can be devastating to a firm and, in some cases, may not even be possible.

But you’re not alone. I can personally assure you that data security is a top priority for Thomson Reuters. We’re committed to taking the lead in the industry to strengthen data security and help you protect your practice and your clients.

We instituted new login requirements, password strength minimums and an inactivity timeout feature this past tax season. Although the requirements

may have seemed onerous, we must realize that our profession — along with financial and health care institutions — is at the top of the list in maintaining sensitive data. That’s why there are such stringent rules to follow in protecting our data, as regulated by the Gramm-Leach-Bliley Act, which requires firms to reassess their security plan every few months.

We also recently implemented multifactor authentication (MFA) for users of CS Professional Suite products and portals. MFA offers a higher level of security for your clients, and we strongly advise you use this method to confirm your identity and better secure client portal data. We’re pleased to be the only tax and accounting software provider that currently offers an MFA app, Thomson Reuters Authenticator, which provides industry-standard authentication factors.

For more important security information, browse the helpful resources on our Thomson Reuters security page at bit.ly/data-security-resources — from a fact sheet with tips on how to avoid being tricked by phishing schemes, to a video on how to upgrade your firm’s CS Professional Suite security, to our white paper Protecting Your Firm’s Client Data From Cybercriminals: 5 Common Questions.

I’ll also continue to share my thoughts on the latest professional developments on my blog: tax.tr.com/author/jonbaron.

I won’t sugarcoat it — we live in a scary world sometimes. But when your firm and Thomson Reuters work together, we can put strong safeguards in place to help you protect your clients and your firm. We’ll give you the support you need to navigate uncertainty, today and beyond.

Regards,

Jon BaronManaging Director, Professional Segment, Tax & Accounting, Thomson Reuters

NEWSLINE


Technology continues to change at nearly the speed of light with no signs of slowing down — and future success may depend on the changes made today.

The field of audit continues to be an essential service in the ever-expanding CPA profession. Audit is the profession’s past, as well as its present — but, to maintain the reputation of CPAs as the most trusted advisors, it’s necessary to reimagine audit services as we know them.

That inspired Thomson Reuters to create the next generation of audit engagements — Checkpoint Engage, a new audit solution that launched at the SYNERGY 2016 Users’ Conference.

Checkpoint Engage is a fully integrated online audit solution that dramatically increases speed and efficiency, because the information is updated in real time. To maximize audit quality while minimizing time spent on audits, Checkpoint Engage includes features that will help audit firms prepare for the future, such as:

• Real-time collaboration: A cloud-based platform allows easy sharing of information with an audit team while

accessing and working on engagements simultaneously from anywhere.

• Complete risk-based solution: The risk-based audit program design helps firms build a customized audit program based on documented risks and assertions to prevent over-auditing.

• Smart audit process: The SMART audit process moves to the next level with a cloud-based approach and comprehensive coverage of expert-authored content for a wide breadth of specialized industries.

• Full integration: Seamless integration with AdvanceFlow, the Thomson Reuters professional audit solution, increases accuracy and simplifies the audit process from start to finish, saving even more time on engagements.

The most pressing challenges facing the audit profession can be grouped

into four categories: quality, innovation, talent and relevance. Visit bit.ly/audit-keys to read our white paper, 4 Keys to the Future of Audit, to learn how each challenge affects today’s audit and how reimagining solutions can transform audits of the future.

INTRODUCING CHECKPOINT ENGAGEA new, fully integrated online audit solution from Thomson Reuters

We’d like to send out a heartfelt thanks to everyone who took time to participate in the Solutions Magazine reader survey in our last issue. Congratulations to the winners of the American Express gift card drawing:

• Hector Carlos, HJC Tax Service• Hal Fisher, Fisher Spiegel Kunkle & Gerber• Eileen Magno, GP Boyle & Associates

As a result of your feedback, we’ve expanded the popular Software in Action article (pages 6–7) from one page to two so we can spotlight your fellow practitioners’ stories in more depth.

You don’t have to wait for a survey to let us know what you think about Solutions Magazine. Just email us at [email protected] with your questions or suggestions anytime.

THANKS FOR THE FEEDBACK!

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TAX.TR.COM/CS 5

Are you looking for a way to demonstrate value to your clients? The hidden treasure found in the IRS penalty abatement policy is the answer. Review an IRS balance due notice and you’ll see the details of penalties assessed and information about obtaining penalty relief due to reasonable cause. What you won’t see is the First Time Abatement (FTA) policy that allows normally compliant taxpayers a chance to escape penalties. Because this policy isn’t publicized by the IRS, many practitioners aren’t even aware this option exists.

FTA CRITERIAThe FTA requirements are not in the Internal Revenue Code; they’re found in the Internal Revenue Manual (IRM 20.1.1.3.6.1). The policy states that first-time abatement is

First Time Abatement (FTA): An IRS Hidden Treasure

applicable to failure to file (FTF), failure to pay (FTP) or failure to deposit (FTD) penalties assessed against individual and most business taxpayers. Abatement is allowed if ALL of the following are true:

• Your client was not previously required to file a tax return, or no penalties have been added to or removed from his or her account for the previous three tax years.

• Your client is current in filing all required tax returns (extension included).

• Your client has paid or made arrangements to pay any outstanding tax due (including being current on an installment agreement).Note: FTA applies to a single tax year. If

a request for relief for two or more years is being considered and the earliest tax year meets FTA criteria, relief applies to that year

only. For the other years, reasonable cause or other criteria will need to be met.

REQUESTING FTAYou can request FTA relief for a client by calling or writing the IRS (you’ll need power of attorney authorization). If the tax return has not been filed and the FTF and FTP penalties will apply, a request for FTA relief can be attached to the tax return.

The IRS’ FTA policy is a hidden treasure. Now that you’ve found it, take advantage of it to demonstrate value to your clients.

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RELATED GUIDANCE

CHECKPOINT IRS RESPONSE LIBRARYEfficiently respond to IRS taxpayer notices and represent clients in many types of engagements. Just input the number of the notice your client received to automatically generate a step-by-step work plan, so you can resolve the issue confidently and project billable hours.

Learn more at bit.ly/ irs-response. Also, see how

other Thomson Reuters customers use the IRS Response Library at bit.ly/library-success.

SOFTWARE IN ACTION


The Future is at Hand

If someone had told you 20 years ago that everyone you know — from elementary-age kids to octogenarians — would be walking around with handheld devices that could connect to just about anything from anywhere, would you have believed it?

Today, computers, smartphones and tablets give us instant accessibility through the cloud, changing the way we do virtually everything, from banking to traveling to dating. Why should accounting be any different?

MOBILITY IN MINDJodee Paape, CPA/PFS, managing partner of Jodee Paape & Associates, LLC — a full-service accounting firm in South St. Paul, Minnesota — felt much the same way. So, when she was presented with the opportunity to take part in a pilot program for Thomson Reuters Onvio, a new set of cloud-based tax and accounting products, she jumped at the chance.

“Onvio was an opportunity for us to get in on the ground floor of something we’d been hoping to see for a long time,” she says. “We were really excited about the ability to get information to our clients in a new and very user-friendly way. [Onvio] felt like the online things folks do — online banking, online learning.”

Paape was already familiar with UltraTax CS, Practice CS, Fixed Assets CS and other CS Professional Suite products,

How one firm serves a more mobile — and increasingly millennial — clientele

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TAX.TR.COM/CS 7

as they’ve been using them to provide stellar service to their clientele, which includes approximately 1,000 individual clients, more than 200 small businesses and 60-plus estates and trusts. And since it’s important to Paape and her staff to tailor their services to the needs of their clients, Onvio was a logical next step.

“We need to stay abreast of what people expect, particularly from technology,” Paape says. “They want to be able to access their records 24/7. And while they want a personal touch, they also want to get answers without necessarily talking to us directly. All of those things are important when we’re trying to stay current and be relevant to the next generation.”

MOBILITY IN HANDThe mobile app available with Onvio Client Center and Onvio Documents was a major factor in Paape’s decision to try Onvio.

“We have a lot of young clients. Say we’re missing their car license tab information. We can say to them, ‘Go out, take a picture

is very important. Onvio is something we can offer at no cost to them, and they can use it to send us private and confidential information. On the flip side, we can securely give them what they need from us. It’s a great, safe way to communicate. Plus, I think because we’re providing something that big firms do — even though we’re a small firm ourselves — they feel they’re working with a company that cares about security.”

Of course, there’s the big question: Do Paape & Associates’ clients like using Onvio?

Jody Glowaski, who works in the front office fielding client phone calls and doing bookkeeping, has heard lots of good feedback. “Once they get in and register, they see how easy it is for them to download information into and get it out of their portals. It’s so quick — for me to get something into their portal, it’s almost like they’re sitting there and can see it.”

To learn more about Thomson Reuters Onvio, visit tax.tr.com/onvio.

of your license plate information and send it to us.’ Or, ‘Take a picture of your mortgage statement and send it to us.’ The mobile app is wonderful — they all love it because they live by their phones. It makes our job easier, and it makes the clients feel more connected. We’re responding to their needs and the way they like to do business.”

Paape loves that Onvio is so customizable, allowing her to set up the interface the way she wants, using wording that makes sense to her clients. Other staff members have their favorite functions, too.

Firm administrator Mary Love is impressed with the ease of setting up online access in Onvio Client Center, the product the firm has seen the most use of and efficiency from. “It’s easy to set up portals, particularly for our 1040 clients,” she says.

Deb Nelson, CPA, Paape & Associates’ other managing partner, says Onvio has allowed the firm to provide clients with additional security at no additional cost to the client. “Good security can be expensive, and for small businesses, cost

“Whenever I go to a SYNERGY Users’ Conference, my staff members kind of hold their breath,” says Jodee Paape, CPA/PFS, a managing partner at Paape & Associates in South St. Paul, Minnesota. That’s because she has brought back so many new tools for the firm over the years that they eagerly await the change.

Whether it’s networking with industry friends, sharing real-life experiences at roundtables or just switching focus from daily details to business strategy, Paape attends SYNERGY nearly every year to find inspiration and ideas — and comes back motivated to implement change.

Bring new ideas back to your team from the 2017 SYNERGY Users’ Conference, November 8–11 in Nashville. Register at tax.tr.com/cs-synergy.

The SYNERGY of Online Solutions — and So Much MoreNASHVILLE

November 8–11, 2017


USER PROFILE

Twins Kalena Bruce, CPA, left, and Chelsea Abercrombie, CPA, grew to love accounting as they helped with bookkeeping on their family farm in Bolivar, Missouri.

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Organic GROWTH

Small-town life isn’t for everyone. But for those who put people first, it’s a perfect fit.

And that’s why Integrity Tax & Accounting — with twins Chelsea Abercrombie, CPA, and Kalena Bruce, CPA, at the helm — is finding big success and chasing even bigger dreams in the small town of Bolivar, Missouri.

Their firm’s motto, “People you know providing services you trust,” sums up their secret to success. Abercrombie and Bruce grew up on a farm in nearby Stockton and graduated from Bolivar’s Southwest Baptist University in 2008. They left to pursue careers in public accounting but were lured back by the idea of helping friends and neighbors.

“Knowing our clients. Knowing their history and how the economy has changed for everyone throughout the years. That all helps us to serve them a lot better,” Abercrombie says. “To them, we will always

Integrity Tax & Accounting is thriving in rural Missouri, thanks to a people-first focus on client service

be the Kenney twins, and it’s nice to provide good client service to people who have known you forever.”

AN IDEA WAS PLANTEDAbercrombie’s and Bruce’s interest in accounting started early, helping with bookkeeping on their parents’ farm and at their family-owned business. “We learned at a very young age how to pull our weight. A big portion of that was helping with the books. It’s something we’ve always liked to do,” Bruce says. So they chose to attend nearby SBU for its strong accounting program, and during their college years they worked for a woman who ran a tax service out of her home.

“When we graduated, she really wanted us to stay, because a lot of her clients had become our clients,” Bruce says. “But we were moving on.” A year later, the twins were asked to come back and take over the practice. This time, they said yes. “It was a

Dan Videtich


USER PROFILE

door that opened for us,” Bruce says, “and we are so glad that we walked through it.”

They didn’t just walk through that door. They blew it off. Since taking over in 2009, they’ve grown the business over 68 percent to more than 700 clients.

And they have even bigger goals for the future. Part of their plan is to get all of their clients to use portals through Thomson Reuters.

Cultivating a Rewarding CultureAlthough it’s becoming more common, Integrity Tax & Accounting in Bolivar, Missouri, stands out as a women-owned accounting firm, with an all-female staff of three. But they don’t think they’re anything special.

They’re just trying to create an environment they couldn’t find themselves — one that provides a healthy balance between work and family. “We wouldn’t ask our staff to miss something in their kids’ life if we weren’t willing to miss the same thing in our kids’ lives,” says Chelsea Abercrombie, CPA, who owns Integrity with her twin sister, Kalena Bruce, CPA. “If someone needs to take off to go to a piano lesson or a doctor appointment, we help each other, because we know how hard it is to be a mom and work full time and have other obligations.”

Outside of tax season, Integrity is open Monday through Thursday, offering even more opportunity for work-life balance. “We ask people to put the time in during tax season, but we try to give them the opportunity to have extra time with their family when we can,” Bruce says. “That has developed some really good employees.”

“We are pushing-slash-pulling our clients into the technology world, including client portals,” Bruce says. “We have several clients who think it’s the best thing since peanut butter, and then we have lots who just are not there yet. But we have a five-year goal to move everybody to the portal. If we could do that, I think we could increase our client base at least 30 percent, maybe 50 percent.”

Abercrombie adds, “The first time we had someone complete their organizer and upload their documents, and all of that went right into FileCabinet CS, it was like a magical experience.”

“Yeah,” Bruce says. “We were high-fiving. We were so excited.”

Abercrombie says, “If we can get them to scan and upload their documents themselves, that saves us so much time. Even if it just saves us 10 minutes per client, 10 minutes times 700 is a lot of time.”

SMARTS, SERVICE AND A LITTLE SOMETHING SPECIALServing mostly small businesses, including farms, Abercrombie and Bruce believe their background perfectly prepared them to provide better service.

“If our clients have a farm question, we can answer it,” Bruce says. “It doesn’t matter if it’s tax-related or not. Clients appreciate that we know the difference between a piece of equipment or a certain type of fertilizer.”

Their other special preparation started before they were even born. “Being twins, we have such an advantage over other firms, because we were raised the same, we went to the same college, we are on the same

“If our clients have a farm question, we can answer it. It doesn’t matter if it’s tax-related or not.”

— Kalena Bruce, CPA, left

TAX.TR.COM/CS 11

most important impact: demonstrating to Abercrombie and Bruce their own value.

“It helped show how much time we were giving away,” she says. “We weren’t quoting people correctly because we didn’t realize the time we were spending on things.”

Practice Forward also contributes to Integrity’s capital by helping the firm set up monthly automatic clearinghouse (ACH) payments.

“We want our small-business clients to be successful, so we were willing to sometimes reduce their annual bill because we understood cash flow was tight for them at that time,” Abercrombie says. “It’s a lot easier for them to pay $450 a month than it is to pay $5,400 once a year. ACH has been key for helping us bill what we should.”

THE NEXT GROWING SEASONWhat will Abercrombie and Bruce do with their newfound wisdom? Grow, of course.

With Practice Forward, they are using their time more wisely and being more efficient, and that’s helping them build the capital they need to take their next big step.

“Our goal is to hire another CPA to do the auditing and help during tax season,” Bruce says. “Thomson Reuters products are helping make that possible.”

Those small-town Kenney twins. Always thinking big.

FIRM FACTSBASICS: Chelsea Abercrombie, CPA, and Kalena Bruce, CPA, took over a one-person tax business in 2009. The sisters have grown the client base 68 percent to more than 700 clients and increased revenue by more than 80 percent. Based in Bolivar, Missouri, Integrity Tax & Accounting has three full-time employees and offers tax, audit, payroll and tax-planning services to individual and small-business clients.

WEBSITE: “People you know providing services you trust” is not just their motto. It’s how they live their lives. On their website, integrity-tax.net, you’ll find employee bios as well as a client portal.

SOFTWARE: A Thomson Reuters client for six years, Integrity is a firm believer in Practice Forward and NetClient CS. The firm also uses Practice CS, UltraTax CS, Fixed Assets CS, FileCabinet CS, Checkpoint, Quickfinder and PPCs SMART Practice Aids.

wavelength a lot,” Abercrombie says. “A lot of times, I really know what Kalena is going to say, and she knows what I’m going to say, and that helps us when we’re looking at projects and we’re trying to interpret some tax law and how that would apply to our clients. It gives us an advantage, so we can serve our clients better.”

SOWING SEEDS OF OPPORTUNITYAs you might have guessed by now, those “Kenney twins” are partners with a plan. So, when their Thomson Reuters representative invited them to the Partner Summit in 2016, they jumped at the chance. And they’re glad they did.

“We were trying to find a way to provide better service to our clients and to get them to buy into some additional services that we thought would be helpful to them. But we hadn’t been able to do it,” Abercrombie explains. “When we went to the summit, we thought, this conference was tailor-made for us.”

They found the tools they needed to bridge the gap with their clients. And when they returned from the summit, they hit the ground running. Particularly with Practice Forward, which increased the firm’s revenue by $49,500 in just four months.

The Practice CS software paid for itself in three months or less, Bruce says. Its

Meet Integrity Tax & Accounting (from left): Browning Proctor; Kalena Bruce, CPA; Shelby Daniels; Chelsea Abercrombie, CPA; and Desarae Lightfoot.

INDUSTRY AT LARGE


HIRING IN CHANGING SEASTips to recruit and keep good talent in a tumultuous market

There’s a perfect storm happening in the accounting industry. And like most storms, it’s been brewing for a while. Many in the accounting profession are getting older and leaving, and few qualified people are available to fill the void.

That talent shortage has people worried. Accounting Today found that 28 percent of midsized firms and

57 percent of large firms cited recruiting and retaining good employees as one of the biggest issues keeping them up at night.

One person who isn’t too worried: Ryan J. Niedoba, a partner and chief operating officer at Niedoba, Beppel & Co. LLC in Berlin, New Jersey. In fact, Niedoba’s firm has found a few ways to overcome the current hiring challenges.

At Niedoba, Beppel & Co., it starts with investing time and resources to make the firm competitive in the digital space. “The first thing a person who’s considering your firm does — whether it’s a potential employee or a client — is go to Google, type in the name of your firm and see what pops up,” Niedoba says. “If we give them a good online experience that they can compare to other firms, it gives us a strong advantage.”

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WEATHERING THE STORMOnce Niedoba has the interest of prospective employees, he cites these strategies for hiring and retaining talent:

Off hours: Work-life balance matters to millennials. So why not give it to them — and to all of your staff? “Because of our seasonality,” Niedoba says, “there are few professions in a better position to take advantage of work-life balance.” Work is light in June, July and August, so Niedoba’s firm takes Fridays off all summer. “During the busy season, we take our employees’ time,” he says, “so when we can, we want to give it back to them.”

Off site: Accounting is becoming ever more reliant on cloud-based technology,

Ryan McVay/Getty Images

allowing people to work and access client files from anywhere, including Florida, where one Niedoba, Beppel & Co. staff member lives and works. To make it successful, firms need to fully embrace the tools and technology, Niedoba says.

Off shore: While the U.S. has a talent shortage, other countries don’t. That’s why Niedoba and his partners looked offshore to build their team, adding two accountants who live and work in the Philippines. “We cast an extraordinarily wide net when we’re recruiting,” he says. He and his partners have had such success, in fact, that this summer they launched GSD Staff (gsdstaff.com), a staffing service to help other firms recruit their own offshore employees.

Niedoba’s other tips to find talent include:• Maintain a standing job posting.

“I’d rather find someone good when I don’t need them than be in a pinch and scrambling when I really do need someone,” he says.

• Leverage networking events. The Thomson Reuters SYNERGY Users’ Conference and Partner Summit are great places to start.

• Actively seek out referrals. Niedoba says you should always be asking your employees, “Who do you know? Can we talk to them?”

• Work with a headhunter. If you find one who gets results, he says, the person is worth the expense.

ALL HANDS ON DECKWhen you have a team in place, how do you keep everyone engaged? One key is to build a culture of shared responsibility. When people can be involved in projects that are challenging and rewarding, they are more likely to stay.

Niedoba acknowledges that partners can have difficulty handing over projects and relinquishing control. “I guarantee you that people are going to make mistakes,” he says. “But if you create an environment that allows mistakes, they’ll learn and grow.”

The payoff: a more satisfied — and competent — staff.

Charting a Proper Course of Hiring for Your FirmRunning a good ship means finding good people for all of the posts. But for many firms, the hiring process is steered at the partner level. Ryan J. Niedoba, a partner and chief operating officer at Niedoba, Beppel & Co. LLC in Berlin, New Jersey, says this top-heavy approach can focus too much on hard skills and not enough on intangible attributes.

Niedoba starts hiring by looking at culture. After a basic phone screening, candidates have a culture-based interview with three members of the firm. No partners. No technical evaluation. Just conversation. If any of the team members — or the candidate — has hesitations, it’s a no. “If you’ve built a good team,” Niedoba says, “you want to know that this candidate will be a good fit.”

Ryan J. Niedoba will be doing a workshop on this topic at the

SYNERGY 2017 Users’ Conference. For more information on the conference, November 8–11 in Nashville, visit tax.tr.com/cs-synergy.

ANSWERS & IDEAS


Many of the online accounts and software products you use every day are protected by a login and password. That password is the single factor in the authentication process — the way that those products or services can confirm your identity.

Passwords can be easily stolen or hacked, unfortunately, which means that the accounts and data behind those passwords are at risk. Multifactor authentication adds at least one more layer of identity verification to that process, so your protection against hacking and fraud attempts is much stronger and more secure than a simple password.

This additional verification step could be a prompt that you approve via a mobile app, a randomly generated code that you enter when you log in or a scanned fingerprint. Typically, multifactor authentication systems rely on evidence from at least two of the following categories:1. Something you know, such as your

login and password2. Something you have, such as your

smartphone3. Something you are, such as your

fingerprintYou’ve probably used multifactor

authentication in some form already — for instance, when you use your debit card or withdraw cash from an ATM. You know your PIN, and you have your debit card. Used

Going Beyond Passwords — How We Work Together to Keep You SafeStrengthen security for your clients and your firm with the Thomson Reuters Authenticator app

together, they protect your account and offer much stronger security than one factor alone.

INTRODUCING THE THOMSON REUTERS AUTHENTICATOR APPThe Thomson Reuters Authenticator mobile app makes it possible for you to add a powerful layer of security to the financial data in your Thomson Reuters software.

The app gives you the protection of multifactor authentication — a process by which users verify their identity when they log in to the software, either by approving a login request in the Authenticator app or by entering a unique numerical code provided by the app. The requirements for multifactor authentication are simply an internet connection, a smartphone or tablet and the Authenticator app.

This additional security feature for your firm can be required for all staff members or enabled on an opt-in basis. We strongly advise that you enable multifactor authentication to strengthen the security of both your firm’s and your clients’ data — and Thomson Reuters will be there to support you every step of the way.

The Thomson Reuters Authenticator app is available for download at the

App Store® and Google PlayTM. You can learn more about Authenticator at tax.tr.com/authenticate-now.

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Tax season is over, and you’re probably still decompressing and taking things a little easier. We can’t blame you; if anyone deserves a break, it’s you and your fellow tax professionals.

But we want to make sure you don’t lose out on the advantages your tax software can bring you after tax season has ended, because software like UltraTax CS can play a big role in helping you serve your clients and uncover new business the rest of the year, too.

By taking advantage of the data mining ability in UltraTax CS, you can search your product databases anytime during the year for clients with specific characteristics. This enables you to identify clients’ tax and accounting needs, pinpoint tax savings opportunities and target your client communications effectively. It’s a great way to expand your business with existing clients.

GET THE MOST OUT OF YOUR TAX SOFTWARETake this valuable tool from part time to full time

For instance, you can identify clients who now qualify for (or are ignoring) the required minimum distribution (RMD) for IRA holders older than 70½. You can quickly create a report of every client who is subject to RMD, and then send a notification via email or a pre-created letter. Proactive client service like this can help your clients avoid an IRS penalty.

Using the same type of data mining, you can create a report of all your clients who have estimated tax payments coming up, then send them reminders and skip the missed-payment discussions.

And while we’re talking about your clients, let’s address the important discussions they should all be having — some sooner than others. We’re talking the critical discussions that lead to the big decisions. For example, with UltraTax CS targeted data mining, you can quickly identify clients who

would benefit from advice and retirement planning services in the near future — not only helping them prepare for the future, but identifying a new business opportunity for your firm. Or you can target clients who might benefit from retirement accounts, domestic production activities deductions and state-specific tax credits.

Small-business clients are also perfect for data mining. With the right data, you can identify clients who could reorganize from a sole proprietorship to an S corporation to reduce their unemployment tax burden. You can also find and notify, via email or letter, clients whose profits exceed what the IRS considers a reasonable wage.

There are so many ways to take advantage of UltraTax CS and discover new sources of revenue outside tax season. Don’t just use your tax software for four months and forget about it the rest of the year. Use your investment year-round to provide proactive customer service and discover new business.

To learn more about using data mining in UltraTax CS, visit our

Help & How-To Center at tax.tr.com/help (search for “data mining”).

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PAIDBolingbrook IL

Permit No.1789

6300 Interfirst DriveAnn Arbor, MI 48108tax.tr.com/cs

The SYNERGY Users’ Conference is an unmatched opportunity to learn, network and socialize against the backdrop of a fabulous conference venue.

Here’s what you can look forward to at the 2017 SYNERGY Users’ Conference:• Professional speakers• Valuable workshops and hands-on training• Technology updates and product demos• SYNERGY Customer Superstar Awards• CPE credit

2017 REGISTRATION FEES AND DISCOUNTS• Conference registration fee: $1,595 for the

first firm attendee• Each additional firm attendee: $1,495• Early discount: Deduct $100 when you

register by August 31, 2017• Free financing: Until August 31, pay 50% of

your fees now and the remaining 50% will be automatically charged to your credit card on October 3, 2017

HOTEL INFORMATIONBook your room at the beautiful Gaylord Opryland Resort when you register — just select the “Hotel Reservations” link for special rates.

QUESTIONS?Give us a call at 800.968.8900.

November 8–11, 2017 | Gaylord Opryland Resort & Convention Center, Nashville, TN

SYNERGY 2017 Join Us in Music City, USA, for the 37th Annual Thomson Reuters Users’ Conference

TL30840

REGISTER TODAY!Go to tax.tr.com/cs-synergy.

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