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An Unconventional Way to Get More Help
Stories about accounting and tax firms having trouble finding help seem to be popping up everywhere . Also, I pick up a lot of chatter about it on #TaxTwitter. It has even invaded my home. The firm that I consult for occasionally has recruited my covivant Evie as a remote preparer. After we withdrew from the boutique practice that capped our careers, she kept her family and friends freebie 1040 practice. Even the freebie practice has grown as the first of ten grandchildren got her first W-2 last year. So when my high school friend called me and told me that his 25 year old son who had gone from a bachelors in something or other to a series of low level food service jobs was contemplating a masters in accounting, I was enthusiastic. For a long time I have held the view that accounting probably gives a young person the best bang for their educational buck. My buddy had a request though that intimidated me. He wanted me to tell the kid what it was like to be an accountant. When I thought about it, I realized I didn’t have much of a clue as to what it is like to be an entry level accountant. I started thinking about what it was like when I started and how irrelevant that experience seems. Nonetheless, I do have an idea that those of you scrambling to find help might want to consider and it arises from my memories of the old days.
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CURRENT EDITION
Remember, Influencers, the IRS Follows You Too!
The influencer marketing industry was able to grow during Covid as many advertisers had to adjust or cancel their marketing campaigns. This was because more people were sitting at home consuming content on social media. This new opportunity for smaller influencers has created a new group of taxpayers who need to know their new filing obligations. They’ll also be open to tax planning strategies that you have to help them reduce their tax liability.
Hobby Loss Regulations And Loper Bright
For me, the most exciting Tax Court opinion of 2025 was Judge Joseph Goeke’s supplement to his 2024 opinion in the case of Gary M. Schwarz. With a $1,851,878 tax deficiency, it is the largest hobby loss opinion since 2019. (The really big dollar cases tend to settle.)
Consult, Don’t Convince: Turning Discovery Calls into Advisory Opportunities
The most successful accountants aren’t the ones who pitch the hardest, they’re the ones who listen the most. When you ask better questions, you can diagnose problems that clients didn’t even know they had, which then helps us clarify outcomes instead of listing services. When we shift from “convincing” to “consulting,” discovery calls stop being “sales” conversations and start becoming advisory conversations. And advisory conversations naturally lead to advisory engagements.
SIMPLIFIED TAX STRATEGIES &
PRACTICAL IMPLEMENTATION
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.
