Hugo Tapia

IRS released a draft of the 2026 Form W-2 These updates apply for tax years 2025–2028 and bring some notable shifts in payroll reporting. A few things that stood out to me while reading through it: 🔹 New Box 12 codes TP = Qualified tips TT = Qualified overtime compensation TA = Employer contributions to a “Trump account” (yes, that’s really in the draft) 🔹 Box 14 split 14a → Other 14b → Treasury tipped occupation code (for jobs where tips are common) What I find interesting is how this draft makes the W-2 more than just a wage/tax form, it’s starting to tell a story about the nature of income and benefits. Do you think these new boxes and codes will make reporting clearer, or just more complicated for small businesses? #OBBBA #irs #w2 #Taxupdate Internal Revenue Service

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You hire a Controller, but 30% of their week is bookkeeping, another 20% is CFO-level strategy, the sprinkle in some HR, admin, and maybe planning the office holiday party. In small businesses, accounting roles are rarely “just accounting.” I’ve even seen accountants spend half their time… managing an inbox. (Yes, really. An inbox as a full-time job.) Here’s the problem: You’re overpaying for low-level work. You’re under-served on the high-level work. And worst of all, you’ve got accountants dabbling in HR. (Scary thought, right?) The truth is: when you hire one “full-time body,” they’ll find hours to fill. Before you know it, managing an inbox can turn into a full-time job. But is that really the best use of a $90K hire? This is why the fractional model makes sense. Instead of one “full-time body” finding ways to fill 40 hours, you get the right skill set for each task. Bookkeeping is handled by a bookkeeper. CFO strategy is handled by a CFO. HR is handled by… an actual HR professional. No wasted hours. No inflated payroll. No inbox managers with accounting degrees. If you’re a small business owner, ask yourself: are you paying for one person’s time… or are you actually paying for the wrong work at the wrong rate?

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💙 What Accountants Love About Public Practice Accounting. The accounting industry is so broad, offering professionals the chance to build a career in public practice, commercial accounting, government, banking, consulting and more. Having helped my accounting firm clients grow and build their teams for over 12 years—and staying in regular contact with the accountants I’ve supported throughout their careers—I wanted to ask the question: what type of accountants are drawn to public practice, and what keeps them there?   Here are some of the reasons that I’ve heard throughout my career:   🔄 Variety of Work Working across multiple clients and industries keeps things dynamic. Whether it's tax, compliance, advisory, or SMSFs, no two days are the same—making it ideal for accountants who love solving different challenges.   🚀 Clear Career Progression Public practice often offers a structured pathway from Graduate to Partner. Many firms invest heavily in training, mentorship, and support for CA or CPA studies, helping professionals grow at every stage.   🤝 Client Relationships Accountants in public practice get to build long-term relationships with clients, becoming trusted advisors rather than just number crunchers. This hands-on involvement is both rewarding and impactful.   📚 Accelerated Learning The broad exposure and fast-paced environment help junior accountants learn quickly—technically, professionally, and commercially. It’s a great training ground for well-rounded professionals.   🌟 The Shift to Advisory Modern firms are moving beyond compliance, offering strategic business advice, virtual CFO services, tax planning, and more. This gives accountants the chance to make a real difference in their clients’ businesses.   💻 Embracing Technology With cloud software, automation, and data-driven tools now the norm, accountants can focus more on analysis and strategy—less on manual processing. Those who are tech-savvy can take on more influential roles within their firms.   🌱 Modern Culture & Flexibility Firms are becoming more progressive, with a stronger focus on culture, purpose, and work-life balance. Hybrid work, wellness initiatives, and values-led leadership are becoming standard offerings—especially in firms competing for top talent.   🧠 Broader Skill Development Today's firms want accountants who think commercially, communicate clearly, and adapt quickly. That makes public practice a great fit for those who want to continuously grow and future-proof their careers.     While public practice has always appealed to accountants who value variety, structure, and client interaction, the profession is evolving—and that’s only enhancing its appeal! Chartered Accountants Australia and New Zealand | CPA Australia #careers #publicpracticeaccounting #accountingfirm

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Since the audit function of the irs is going down, a lot of tax preparers are leaning back and just doing whatever get the return out. As a business owner, as a client, you need to watch carefully that your CPA isn’t missing the obvious stuff. Because everyone knows their income, but the things that get missed are deductions, credits, and elections. Those are what reduce your tax bill, and those are being ignored more now a days On the flip side, don’t think that because there are less auditors out there that you can just file whatever you d*** well please. The statue of limitations on fraudulent returns is forever, and it can be anytime that the IRS stacks up its audit department and you have questions to answer. So don’t let your CPA be negligent, and pretend that you had to be audit ready, cause you do.

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