Double Taxation: A Take On All Things Taxes

The Five New Year’s Resolutions Every Tax Professional Should Make

At first blush, you might think I’m a little late to the game with my annual “New Year’s Resolution” post. But my delay was actually a stroke of strategic genius. By waiting a few days to publish, I was allowing ample time for all of your original goals for 2018 to fail miserably. And look at you now: It’s only January 5th, and you’re already back on gluten. You’ve giving Jim a second chance. And you told the guy at the gym that you needed a full refund because you tore a muscle that, according to the latest medical research, does not actually exist.

But you can still salvage 2018. You can still leave the year a better person than the one who entered. Now, I can’t whip you into shape, or get you to put down the pizza, or convince you that Jim is the worst (and he is), but I can make you a better tax professional. All you need to do are these five things:

Embrace the Moment

No, no…I’m not suggesting that we put down our phone and spend more time with our kids. That never works, and for good reason. After all, the stuff on Twitter is far more interesting than anything Junior has to say.

What I am suggesting, however, is that as tax professionals, we look at the recent overhaul of the tax law not as a burden, but as an opportunity. Allow me to explain what I mean with a little story:

A few months ago, my 8 year old boy was invited to a birthday party at the local bowling alley. It wasn’t one of those “drop off and bail” parties, so I had to stick around for the duration. I didn’t know any of the other parents, so the prospect of killing two hours with 10 total strangers quickly grew uncomfortable, made only more so by the fact that like any tried-and-true tax guy, I’m inherently anti-social to being with.

Eventually, the conversation among the adults turned where it always does when no one knows what else to say: discussing what we do for a living. When it was my turn, I fessed up: I was a CPA who made my living in the tax law.

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Authored by Tony Nitti, Withum Partner and writer for Forbes.com.