Guest Article

Networking is vital to any profession and is no different for us Certified Public Accountants (CPAs). Attending conferences and seminars can be a game-changer, offering opportunities to learn, connect, and grow your professional network. These events are not just about business but also about personal and professional growth. However, to truly benefit from these events, it's essential to have a strategy in place.

A mix of old and new this month, obvious miscues and arcane strategies, an old protester/defier, and the perennial discovery jousts.

When you own business properties, they will occasionally require repairs; that’s just a fact of business ownership. So, whether you need to make repairs on your place of business or your rental buildings, keep these simple truths in mind: You can either increase your net worth with tax-favored repairs, or you can decrease your net worth with tax-impaired improvements. Which would you prefer?

In the transformative landscape of 2027, the role of the accountant has transcended traditional boundaries. With Artificial Intelligence (AI) shouldering the burden of routine calculations and compliance checks, the Post-Cognitive Accountant emerges as a strategic visionary. No longer confined to the mechanics of number crunching, these professionals reimagine business tax forms—such as the Form 1120 for corporations—into dynamic portals that unlock untapped enterprise potential. Let's embark on an exploratory journey through a corporate tax return, revealing how each line item becomes a gateway to innovation, growth, and holistic success.

Tucked inside the narrowly passed “One Big Beautiful Bill Act,” President Trump’s sweeping tax and spending package, is a provision that’s drawing media attention: the creation of a new tax-deferred investment account called a Trump Account. A proposed $1,000 “baby bonus” tied to the account only adds to the intrigue. While the reconciliation bill primarily focuses on extending the 2017 tax cuts and reshuffling federal spending priorities, this unexpected addition could offer new planning opportunities for taxpayers.

College tuition continues to climb, and for many families, financial aid can make or break their ability to afford their child’s higher education dreams. What most don’t realize is that their tax return — filed long before students even begin applying for college — plays a major role in determining how much financial aid they’ll receive. This is where you come in. Tax professionals and financial planners are uniquely positioned to help clients qualify for more college financial aid. But only if you know what to look for.

The year is 2027, and the landscape of tax accounting has undergone a dramatic transformation. Artificial Intelligence (AI) has automated many traditional tasks once considered the bedrock of the profession. Yet, contrary to fears of widespread job losses among tax preparers, this technological revolution has ushered in a new era – Post-Cognitive Tax Accounting. This paradigm shift is redefining the role of tax professionals, opening opportunities to explore uncharted territories that leverage human intuition, creativity, and strategic insight.

Once again, Tax Court provides slices of life as well as hyper-technical drilldowns into convoluted legal conundrums. To any who say that tax law is dull, I refer them to the annals of 400 Second Street, NW, where anything goes.