Tax Credits

The CohnReznick Lawsuit: Compliance and Planning Around the Low-Income Housing Tax Credit

A recently filed lawsuit against CohnReznick opens a window into a niche form of tax practice – compliance and planning around the Low-Income Housing Tax Credit . The case highlights a current controversy between investors seeking returns and not-for-profits seeking to insure continued affordability and their own interests to be just a bit cynical. We get to discuss some obscure tax issues and reflect on the question of who it is that is actually your client.

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Think Outside the Tax Box provides tax reduction strategies along with practical implementation advice in order to reduce your clients’ federal tax bill with ease.

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CURRENT EDITION

Tax Tips for Families Affected by Disability: What More People Should Know

Peter J Reilly CPA

There are a few tax tips for people with disabilities that I think are not as well-known as they should be. They can also be applicable to their parents or others who care about them. This is not meant to be a comprehensive treatment of all aspects of how taxation and disability interact. Rather it is to alert you to some things I think should be more widely known. One thing to keep in mind is that some of the parents and grandparents of disabled adults don’t necessarily share this part of their personal life, so you may be surprised at how this information might be valuable and appreciated by some of your clients.

Beyond Numbers: How Post-Cognitive Accountants Transform the 1040 into a Portal of Profound Insights

Garret Wasny, MA, CMC, CITP/FITP

In an era where Artificial Intelligence (AI) effortlessly handles the computational heavy lifting of tax preparation, the role of the accountant is evolving into something far more profound. The Post-Cognitive Accountant emerges not as a number cruncher but as a holistic advisor, transforming mundane tax documents into gateways of deep personal and financial insight. The once straightforward Form 1040 is now a rich tapestry, each box a doorway into the unique narrative of an individual’s life. Let’s embark on a journey through the 1040, reimagined as a portal to new dimensions of understanding and opportunity.

Networking Events for CPAs: Making the Most of Conferences and Seminars

Marie Torossian, CPA

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.