Would a Wealth Tax be good for Accountants? - a podcast by Mac Tax

Truth of the matter is anytime a change in the tax law takes place it is good news for accountants. (Regardless of whether or not you may agree politically) it is job security for tax accountants. The "Tax Cuts and Jobs Act" implemented under Donald Trump created multiple changes to the tax code. International tax was one area that was drastically affected by the change causing money that used to be sheltered oversees in "low tax jurisdictions" to be repatriated and essential pay a minimum tax under GILTI "Global Intangible Low Taxed Income" regime. If Elizabeth Warren were to get in and have her way with a wealth tax it would certainly create more work for us accountants. New changes in the tax law are a good thing. They allow young accountants to catch up their knowledge to those who have been in the field for a while. It also gives us accountants more value in servicing our clients by providing guidance when there is uncertainty around a new law or tax code.

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