Some CPA firms use a scanner to input tax information from W-2's, 1099's, and stock broker tax statements. This short-cut can cause errors and shows the assembly-line approach to tax preparation by the CPA firm.
Some CPA firms outsource tax preparation to India.
This can limit tax savings by Indians not familiar with US tax laws.
Annual tax statements from stock brokers often have mistakes, such as wrong cost/basis for stocks and other investments sold. What appear to be complete gain/loss schedules sometimes show no cost for some stocks, with gain same as sale price.
The tax basis for gain or loss on sale of investments and real estate is not same as original purchase cost when inherited; it can be much higher, for less tax.
Annual Form W-2 wage statements sometimes have incorrect state allocations.
This can happen when someone transfers from one state to another, with same company,
or when on temporary work assignment in another state.
Investment management fees paid to stock brokers or financial planners can often be deducted on Sch D as sale expenses. The 2017 tax act prohibits deducting as a miscellaneous deduction on Sch A, so this avoids that limitation.
Closing attorneys for real estate sales sometimes incorrectly prepare IRS Form 1099-S when there are two or more owners, by reporting all of sale price to only one owner, or all of sale price to each owner. An experienced tax accountant can report this in ways that avoid problems with the IRS.
Georgia law requires trustees to provide all trust records and tax returns to beneficiaries when
You may be able to claim your parent as a dependent even though he or she does not live with you.
You can deduct medical expenses, such as an assisted living home, paid for a relative who may not be claimed
as your dependent due to income.
At-home nursing care expense can be deducted as medical expense.
The new Sec 199A 20% deduction can be used for income from natural gas royalties.