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Planning ideas from Form 1040 (and beyond)

Source: journalofaccountancy.com - Jun 15, 2018

Form 1040, U.S. Individual Income Tax Return, is one of the most important documents that CPAs who do tax work will encounter. In addition to providing a view of the current tax situation, the form also provides insights into planning opportunities, and CPAs may want to make a Form 1040 review one of the first steps in a new client engagement.

“The 1040 always tells us a lot about the personality of a client,” said Alpa Patel, CPA, tax partner in the Atlanta office of Charlotte, N.C.-based DHG. “It gives a lot of insight into the individual and their preferences.”

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Category: General Business