Step 1: Tell clients of new complexity – and your extra work.
By Stephen Nelson
Wow. This Sec. 199A deduction… a big deal, right? Lots of opportunity for taxpayers. Lots of complexity for their tax advisors. And basically, no time to first learn and then apply the new law.
Given this, CPA Trendlines suggested I share our firm’s checklist for handling Sec. 199A deduction work for clients this tax season.
Don’t worry, I’ll make this quick. You and I both have tax returns to prepare, review and sign.