We consider ourselves lucky here that we have a wide variety of tax expertise in an assortment of tax areas. Some of the expertise is organic, some we have hired into the firm. Not only do we have the expertise, but everyone is willing to share and help out others in the firm.
How do you gain expertise, you may be wondering? The best way is to encourage someone who has an interest in an area to pursue that area. For example, I am extremely curious about our tax software – from how different programs interact with it, to how new input works.
An example is a new form this year – Form 8915-E (used to report COVID related distributions from a retirement plan and spread the tax over three years, generally). When our software released the form and input, I had a client who had been waiting and this applied to their situation. I was able to determine how best to utilize our software and then send an email out to the rest of the tax department. This kept anyone else with a similar situation from having to learn the same information. Now, does this make me an expert on retirement plans? No, it does not. But it means that I can be a resource if another client is in a similar situation.
I am not sure that when I was starting in my career in tax, that tax software would be an area of expertise – but I can assure you – it does have its advantages. Luckily, I also know some actual tax law, as well!
Your specific Henry+Horne adviser may not know the answer off the top of their head on your specific situation, but we have the expertise and ability to get you an answer. You can trust us on that. Feel free to contact us with any questions you may have.
Donna H Laubscher, CPA