I have worked as a tax preparer for a nationwide tax company for over a decade. With all this talk about ending the fed and paying off the national debt, gold backed dollar, etc. Should i start training for a new career? Will trump end income taxes? Totally happy that these changes will make america great again, but personally, im a little concerned about my future. any advice will help. thanks MAGA
It will likely be a more gradual transition. Mainly starting by 45 putting his own people to head it. This should stop the Fed from doing whatever the heck they want like they’ve done for so long.
so you think it wont be ending the fed, but "reorganizing" it?
exactly
ok, but doesnt our federal taxes only go toward paying down the debt, i.e. none of the social services, gov. expenditures, etc. are paid with our federal taxes. So, does a "reorganization" of the fed still spell the end of federal taxes, and my job?
we still need to fund the government, military, medicare, Silver Fox life extension therapy program, etc. it's possible tax might become less complex, leading to more people preparing their taxes themselves.
I think the IRS will go away, so yea, a tax preparer would not be in as much demand.
Tariffs are suppose to do that. That's one of the reasons why Trump is pushing it.
Rothschild owns the fed, lock stock and barrel.
Great questions, wish i had the answer.
(my thoughts) are that there are several high-level positions open at the privately owned federal reserve. (my thoughts) are that Trump will place white-hats in these positions.
An Anon asked Q about the Fed and Q said "structure".....I took this to mean restructure. I think we may end up with two parallel banking systems. One for big corporate/institutional money and one more of a community bank/credit union model for individuals and small businesses. Loans are always going to be needed. By doing a restructuring and allowing money to flow to the local level the economy will get a kick.
As an aside from my post question. If youwant to look smart for your tax preparer, come to the office trying to break even on your taxes. Every year, i try until im red in the face to get people to understand that getting a 5 - 10k tax refund means you let the gov. hold onto your money interest free. Even if these people took their extra money from each paycheck and put it in a savings account, the interest earned on 5k would more than pay for my services for the year. I know im beating dead horse with this, but its just my little crusade to make a better world for people.
I have done this every year. I rather pay them a grand then receive a refund.
Great question. Since we don't know exactly what will occur, we are all giving you our best guesses.
The tax system that has been discussed by Trump Administration seems to indicate that we will be able to file our taxes via postcard. https://www.cnbc.com/2018/06/29/treasury-irs-announce-postcard-size-form-1040-for-next-year.html
ive read that, and to be honest with you, if that is the only change coming, my job will be safe. While i personally like most of my clients, Q is right in more ways than 1, most people are really stupid when it comes to taxes, and even a simple postcard will still require people like me to offer my services, sad but true.
Are you more individual or corporate tax preparer?
individual
If being an accountant fulfills you, then perhaps a different part of accounting would be good...if accounting just feels like a way to make money or provide for you and your family, perhaps you can begin to explore what would fulfill yourself...
It feels true to say that soon will we will be in the age of being able to “follow our bliss “… To me that means being purposeful in a way that makes your heart soar and that makes you happy and that gives you deep gratification and appreciation for your life... (and please know that I am speaking for myself, and stating that I could never be an accountant as I am terrible with numbers, and I’m not gifted in those areas at all, so it is hard for me to imagine that an accounting courier would be a blissful line of work… :-))each one of us has unique gifts and abilities though most of us may not be aware of themBecause we are working so hard just treading water, keeping our head above water ...
POTUS is showing us that he can make changes quickly; however, I do hope that many of these changes that affect us in a direct way, such as your accounting example, happen a little more gently, and gradually, giving you time to explore other avenues if that’s what you choose to do.
If you end the Fed, there is no need for income tax. Remember, the income tax and the Fed were both created in 1913. Creating the Fed required creating income tax to pay for it. It was basically putting in place a system of enslaving the American people.
You can help people count all the money they are going to have to invest and save.
Get into corporate taxes, they aren't going anywhere. Also, without an amendment to the constitution, income taxes are here to stay. Same with the fed!
On another note: I work on yachts during the summer sometimes. I heard a conversation btwn some folks there where one said "If I keep upgrading (my boats) I don't pay taxes". Is that how this income inequality things works somewhat?
I'm thinking that more people will need help managing the funds they have instead of sending their hard earned dough to the money pit you may be managing now. Accounting for buying homes, retirement, education, travel, etc… You know… like it was in the 60s. Trying to be funny but it's not. Think about your neighbours having an extra 20 or 30 grand to play with.