four problems with ‘quick’ tax questions

they’re not always so simple.

by ed mendlowitz
tax season opportunity guide

i keep a few of the one-volume tax guides in my office so i could look up a quick answer when i need to. recently a golf buddy emailed me a question that i thought i could answer quickly. he wanted to know that if he was in the “zero” percent capital gains tax bracket, did that apply to an unlimited amount of capital gains? sounds like a simple question.

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well i looked it up online and then in three one-volume tax guides. only one source had thorough coverage of the issue. i ended up spending an hour on this “simple” question including my emailed response. nothing is simple anymore.

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tax returns nearly match 2024 rates

data table

refunds still are the only positives.

by beth bellor

tax season grinds on and the number of returns is about the same as last year, according to the internal revenue service.

more: tax pros edge diyers in e-filings | tax refund totals up 7% | tax pros handle 46% of e-filings | tax refund totals up 10% | tax refunds plummet, but no worries | tax refunds up 18% early on | first tax filing reports are in
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the agency had received 79.6 million individual income tax returns as of march 21 – the latest data available – down 1.1 percent from the same period in 2024. it had processed 78.7 million returns, down 0.7 percent.
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the accounting comeback: why the profession is bouncing back stronger

drawing of four people walking up arrow that extends out of computer screen

the profession is gearing up despite the perceived threats of artificial intelligence and outsourcing.

by hitendra patil
client accounting services: the definitive success guide

the accounting profession is securing its future and growing its numbers.

in december 2022, an article in the wall street journal made headlines, stating that over 300,000 auditors and accountants in the u.s. had left the profession. people were all but ready to take stock.

moretwelve years and out: seasoned accountants join the exodusjobs outlook: strong and steady growth in hiring and earnings for u.s. accountantsstudent accounting enrollment shows third year of recovery | cornerstone
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after the pandemic’s great resignation wreaked havoc on so many businesses, people were shocked, at least for a second, when this numbers-relevant story broke. it turned out the shock continued well beyond.

at the same time, the number of students majoring in accounting kept dwindling, resulting in a double whammy. accounting has come under scrutiny since then. from an increase in outsourcing/offshoring, the threat of artificial intelligence and a rapidly changing employment market, accounting has been in the hot seat, but not a good one.
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