THE WANDERING TAX PRO: TAX BLOGOSPHERE BUDDIES

The “Tax Blogosphere Buddies” series is back with some new (at least to me) tax bloggers.

First up is Manasa Nadig EA of MN Tax Solutions, LLC in Canton, Michigan. Manasa writes the blog THE BUZZ ABOUT TAXES (I like the title). She has been in the business of Tax Preparation & Tax Planning since 1999.

(1) How did you become interested/involved in preparing tax returns?

A Bachelor’s degree in Accounting and Commerce and a head for numbers really narrowed my choices for a career, it would have to be Accounting & Taxes or Auditing, and I chose the former!

(2) How were you educated/trained in preparing tax returns?

I first took the H & R Block Tax Course and then the Enrolled Agent Exam. I have also worked with several CPA’s with a broad range of clients. So my education and training helps me tackle many different types of tax returns.

(3) When and why did you decide to write a blog on tax issues?

I decided to start off my own practice in 2012. While setting up & writing various newsworthy articles/“resource” pages for my website (that I designed myself), I thought that writing a blog on tax issues & sharing it on my website would be a good way to get two birds with one stone. So I have been writing and sharing since early this year.

Also, writing on tax issues compels me to do a lot of research on ideas and I have found that has helped me really keep abreast of the latest news & changes in the tax world.

(4) How has blogging helped your business?

I think blogging has helped me reach a wider audience than I imagined I could. I have had people email me or call me with questions. My blog is still too new for me to measure its impact on my business in a realistic way, but I am hoping that those who get to my blog or website find the answers they want & engage my services if needed.

(5) What do you consider the “best tax advice” you can give anyone?

Open your mail, file on time, maintain records, get professional help and don’t lie to your tax professional.

(6) Do you support the decision in Loving v IRS, or do you support mandatory regulation?

No, I do not support the Loving v IRS case; I really think that there should be oversight & regulation of tax preparers.

(7) How would you reform/rewrite the Tax Code? Under the “clean slate” method of tax reform what tax expenditures (deductions, credits, exclusions) would you keep and why?

If I got a chance to reform the tax code, on the individual side, my biggest change would be to get rid of all the different Filing Status, each individual would file taxes if they were over 25 years of age and had a designated threshold of income. There should be progressive tax rates based on individual income. The corporate tax should be lowered to make US companies more competitive with the companies that operate in countries with lower rates.

Under the “Clean Slate” method, I would keep the standard deduction (including the mark up based on age) and the personal exemption. I would also keep the 1040 Page 1 adjustments to income and include the mortgage interest deduction and property taxes here. In my opinion, these credits would be the only ones that would support the reform above. I would keep the research credit for companies to promote R & D; the Veteran Hiring Credit to promote hiring of veterans.

(8) Do you think the Tax Code should be used to deliver social welfare benefits?

No, it should not be.

(9) What is your favorite Broadway musical – and why?

I haven’t seen any Broadway musicals yet!

Good advice in #5. Especially “don’t lie to your tax professional”.

While, as I have said in the past, the actual tax preparation services of Henry and Richard leave very much to be desired, I hear the H+R Block tax course is, or at least was, very good.

And I agree that “writing on tax issues compels me to do a lot of research on ideas and I have found that has helped me really keep abreast of the latest news & changes in the tax world”.

Manasa – no Broadway musicals? You don’t know what you are missing! I have given her some suggestions.

TTFN