Corvee: The Challenges of Tax Planning and How to Overcome Them

Описание: No person or corporation wants to overpay in taxes. According to Govinfo.gov, the tax code was over 60,000 pages the last time it was printed in 2018. That leaves a lot of opportunities to find strategies to make sure that the taxpayer is not overpaying. These strategies are hidden inside those 60,000 pages and require planning to be able to implement them. Determining strategies, selecting which methods to use, and developing an implementation plan are part of tax planning. Tax planning, when done right, can save a taxpayer hundreds of thousands of dollars. The first problem is that no tax preparer has time to read through 60,000 pages and find every strategy that applies to each of their clients. The next issue is convincing the taxpayer that putting in the extra time and resources to implement these strategies is worth the effort.
In this course, we will join Corvee founder and CEO Andrew Argue to discuss what tax planning is, why it is essential, what barriers exist to successful tax planning and how Corvee can help tax preparers succeed.

Are you a CPA?? Are you a Financial Professional?? Earn CPE Credits for Today's Podcast. Check out https://cpe.cx//corvee1. Take a quick 5 question quiz and get your certificate today. Super Easy!

------------- Contents of this video ---------------

00:00 - Intro
06:34 - Who is Andrew Argue?
09:04 - What was the motivation behind creating Corvee?
16:44 - How did Corvee come about the 1700 strategies and how do they keep on top of the legislative?
29:26 - What is tax planning like?
30:20 - What is the tech behind Corvee?
33:38 - What's one of the cool things about Corvee?
36:20 - In what ways is Corvee seeming to fulfill the Tim Ryan advice from the interview from ten years ago?
38:42 - What is Corvee's mission?
43:35 - Why do taxpayers fail to implement their tax plans?
50:40 - How does Corvee help a practitioner have a wider perspective of tax planning in general?
52:42 - How does Corvee fit into the firms of the future?
59:01 - What does Corvee provide outside of tax planning?