TAX

The Top Tip for Reviewing Tax Returns

By

What would you say?

By Ed Mendlowitz
202 Questions and Answers: Managing an Accounting Practice

Question: I know you have a lot of advice on how to review tax returns. What’s your single best tip?

MORE: You Have to Start Somewhere | Two Options for Collecting Past Due Fees | When Board Service Gets Tricky | Eleven Ways New Staffers Can Help Bring in Business | Busy Season Is Over, So It’s Time for Some Resolutions | Want to Merge? Six Steps to Take | How to Start Providing Family Office Services | Every Accounting Firm Needs Quality Control | No One Listens to You? Change How You Talk | 47 Types of Business Valuation to Provide | Thirteen Things to Consider Before You Sell Your Practice | Uncooperative Partner Might Not be the Problem
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

 

Response: I had never thought about this until this question was asked.
READ MORE →

Art Werner: ‘Free Money’ for New Trump Accounts | Quick Tax Tip

By

Trump Accounts are for the benefit of children.

Sponsored by True Advisor: The Definitive Success Guide for Client Advisory Services by Hitendra Patil | See Today’s Special Offer
Subscribe to CPA Trendlines podcasts anywhere: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.
More Werner on Trump accounts.

Quick Tax Tip
With Art Werner
CPE Today

Trump accounts offer a rare chance for a government-funded head start on a tax-advantaged education account.

“The federal government will actually infuse these accounts with $1,000,” says Art Werner. “It’s free money. Just face it, it’s free money.”

MORE Art Werner | MORE CPA Trendlines Streaming Network

Any child under age 18 with a Social Security number is eligible for a Trump account. Children born between 2025 and 2028 also qualify for a government contribution.

READ MORE →

Art Werner: Five Rules for Trump Accounts | Quick Tax Tip

By

These accounts offer unique contribution opportunities, strict investment guidelines, and a pathway to future retirement savings.

Sponsored by True Advisor: The Definitive Success Guide for Client Advisory Services by Hitendra Patil | See Today’s Special Offer
Subscribe to CPA Trendlines podcasts anywhere: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.
More Werner on Trump accounts.

Quick Tax Tip
With Art Werner
CPE Today

Art Werner outlines the five key rules advisors and families should understand when considering these accounts.

MORE Art Werner | MORE CPA Trendlines Streaming Network

Designed as long-term savings vehicles for children, these accounts offer unique contribution opportunities, strict investment guidelines, and a pathway to future retirement savings.

READ MORE →

Art Werner: Just Don’t Call it a Trump Account | Quick Tax Tip

By

Trump accounts can be “one of the best” long-term planning options, despite their name, says Werner.

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google/Youtube, Spotify, iHeart, Deezer, Amazon Music, Audible, Player FM, Audacy, RSS.

Quick Tax Tip
With Art Werner
CPE Today

More Werner on Trump accounts.

Trump accounts are “one of the best provisions that we have seen,” tax expert Art Werner says in this Quick Tax Tip.

Acknowledging that the name itself may create resistance among some taxpayers, he says that for people who are not fond of President Trump, “when they hear the name Trump account, it turns them off.” But if they dismiss the account because of its name, he adds, “they are walking away from a tremendous opportunity.”

MORE Art Werner | MORE CPA Trendlines Streaming Network

Werner explains that funds in a Trump Account are effectively locked away until the child reaches age 18. Once the beneficiary reaches adulthood, the money can be used for specific purposes that he describes as major life milestones, including higher education, purchasing a first home, starting a business, and ultimately retirement planning.

READ MORE →