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@CPATaxTeam
"@finance_hipster It's so easy one of our client's granddaughters day traded her account from $150k to nearly $X in a year triggering a 700+ page 1099B for all of her transactions. Her comment "I just did what the app told me to do.""
@CPATaxTeam on X 2023-08-10 21:31:43 UTC 5138 followers, XXX engagements
"Yep see my other posts. Thats compared to saving the same amount in taxable acct. $7000 in VOO generates about XXX% in dividends $XX in taxable income. After tax is roughly $25-35 in tax total. It could make sense for someone who has a high growth asset they want to shield from cap gains at some point" @CPATaxTeam on X 2025-07-23 12:15:05 UTC 5139 followers, XXX engagements
"Max started an interesting thread here. I think where most of the differences in opinion lie starts with how to define "Ultra Wealthy". Ultra Wealthy to me is minimum $10mm net worth but I'd even argue it's someone with an estate tax net worth ($30mm). Thoughts" @CPATaxTeam on X 2025-07-24 13:38:17 UTC 5141 followers, 5233 engagements
"Is putting inventory on an income statement a departure from GAAP I believe it is and should be disclosed. Prior CPA included beginning and ending inventory on the P&L. We're saying it's a departure from GAAP to include on P&L and needs to be disclosed. @robbhurstCPA #TaxTwitter" @CPATaxTeam on X 2025-07-02 22:18:53 UTC 5143 followers, 4724 engagements
"Client's trust has $4mm of capital in a random K1. Tell us you are loaded without telling us" @CPATaxTeam on X 2025-07-25 18:29:13 UTC 5144 followers, 1556 engagements
"CPA/EA.someone with a tax quality background. We do several tax planning strategies for clients but nothing we promote as a certain service. I've set up a charitable LLC structure that saved a client over $8mm in income/estate taxes. Another did a reorg that allowed them to take amortization that wasn't in the deal previously. Most wealthy clients can save millions in estate taxes if planned properly" @CPATaxTeam on X 2025-07-23 18:28:41 UTC 5140 followers, XXX engagements
"So it confirms that taking $7000 and moving it through a traditional IRA and then transferring it to another Roth IRA just to save about $30/year growing isn't going to move the needle. $30mm in XX years will be over $120mm. Having $700k sitting in a Roth vs. $650k sitting in their taxable account is "picking up pennies"" @CPATaxTeam on X 2025-07-24 18:37:07 UTC 5138 followers, XXX engagements