Mark Burch, EA

Enrolled Agent, Tax Professional, UNL alum '89 #GBR, Former Contributor for Land Grant Univ Tax Education Foundation, Former Instructor for UNL Tax Institute

[Mark Burch, EA @MBurchTax]

#TaxTwitter Scenario: unmarried taxpayers who are both parents of a qualifying child and live together, historically the higher earner claims the QC and tax benefits. Would you consider switching to the lower income parent, generating EITC, and getting addtl EIP3/Stimulus?

[Mark Burch, EA @MBurchTax]

@cbriancpa

[Mark Burch, EA @MBurchTax]

@ArthurJSpring Preach!

[Mark Burch, EA @MBurchTax]

@Taxsavvyjessica Tax Season starts 1/1, ends 12/31.

😉

[Mark Burch, EA @MBurchTax]

Kiddie Tax!?!?!?!

[Mark Burch, EA @MBurchTax]

@DailyTaxMemes Move all of the investment income to the minor children*

Follow me for more great non-tax advice.

*Sarcasm intended

[Mark Burch, EA @MBurchTax]

@DailyTaxMemes @mountainwesttax I'll take it over the winding roads of Missouri, the worst roads ever in Illinois and the speed limits in Indiana any day!

[Mark Burch, EA @MBurchTax]

@ajthecpa1226 So far, you have been 100% correct.

Got a visit from a client who started with us in 1971 and wanted an office tour.

Got a visit later in the day from two clients from AZ who were passing through and wanted stop and see me and ask some quick questions.

All in days work!

[Mark Burch, EA @MBurchTax]

@justinmilleresq Can't pay, need an extension!

[Mark Burch, EA @MBurchTax]

@loganallec Sure, that's your prerogative.

[Mark Burch, EA @MBurchTax]

@AccountingAsArt SALY does!

[Mark Burch, EA @MBurchTax]

@LoganGrafTax #TaxHack

[Mark Burch, EA @MBurchTax]

@AccountingAsArt Engineer

[Mark Burch, EA @MBurchTax]

@AccountingAsArt @wlthyaccountant Shit, I thought I was the rock!

[Mark Burch, EA @MBurchTax]

@NeeleySadler

[Mark Burch, EA @MBurchTax]

@DailyTaxMemes C: Ok, well I will just do back-door ROTH
M: Cool. Any chance you already have Traditional IRA's?
C: Oh yeah, a whole bunch!
M:
M:
M:Great

[Mark Burch, EA @MBurchTax]

@TheNFTCPA It's trumped by Non Dividend distributions that turn out to be from a LLP for gas and oil with a $2,500 investment (in a non-retirement account)

[Mark Burch, EA @MBurchTax]

@TheNFTCPA It's trumped by Non Dividend distributions that turn out to be from a LLP for gas and oil with a $2,500 investment

[Mark Burch, EA @MBurchTax]

@JillCastilla That way you don't have to pay taxes on the income, save NIIT, it's brilliant! 🤡