It is not enough to complete a client’s tax return once the tax year is over. Successful tax practitioners are looking for opportunities to be more proactive with their client’s tax situation throughout the year. Changes to the tax law do not fit timely within a specified time frame each year. Expired provision are being extended months into a new year with retroactive status, in addition to the issuance of new regulations and court findings which may substantially affect the treatment of certain tax positions. This requires staying on top of these recent developments, determining how your clients may be affected, and creating strategies to assist clients with minimizing taxes whenever possible.
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