The Tax Technology of the Future #039

09/04/18 • 27 min

The prevalence and pace of technological advances can make the future a moving target for businesses and their owners. Successfully adapting and keeping up with these changes is a challenge facing many industries and the tax profession is no exception. Host Damien Martin sits down with guest Dave Wyle to discuss advances affecting taxpayers and tax professionals, the skills needed to navigate the changes they bring about and ways to keep up with it all.

TIME STAMPS OF WHAT’S COVERED

[02:04] Dave’s story and how it led him to develop accounting-related technology solutions
[04:40] How technology has advanced since Dave began working in the accounting industry
[08:03] Tax professionals should be excited about advances in technology
[10:52] Ways to keep up with changes in technology
[13:02] Advice for taxpayers on working with tax professionals that use technology
[16:18] The skills Dave has used to develop innovative solutions and manage change
[20:44] Predictions on technological advances over the next five years
[24:56] Dave’s advice to Damien on parenting

BIO FOR GUEST

David Wyle is the president and CEO of SurePrep, a provider of tax productivity solutions to U.S. public accounting firms. Prior to founding SurePrep, Mr. Wyle founded and was CEO of ePace! Software, creator of the industry-leading paperless engagement program that was rebranded as ProSystem fx Engagement after it was purchased by CCH Incorporated in 2001. Prior to founding ePace! Software, Mr. Wyle was a CPA with the accounting firm Coopers & Lybrand.

GET MORE SIMPLY TAX

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to [email protected].

Connect with Damien on social media!

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TIME STAMPS OF WHAT’S COVERED

[02:04] Dave’s story and how it led him to develop accounting-related technology solutions
[04:40] How technology has advanced since Dave began working in the accounting industry
[08:03] Tax professionals should be excited about advances in technology
[10:52] Ways to keep up with changes in technology
[13:02] Advice for taxpayers on working with tax professionals that use technology
[16:18] The skills Dave has used to develop innovative solutions and manage change
[20:44] Predictions on technological advances over the next five years
[24:56] Dave’s advice to Damien on parenting

BIO FOR GUEST

GET MORE SIMPLY TAX

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to [email protected].

Connect with Damien on social media!

LinkedIn | Twitter | Instagram

Previous Episode

Bonus Depreciation Regs & More #038

Returning guest Jesse Palmer sits down with host Damien Martin to review changes to the bonus depreciation rules under the Tax Cuts and Jobs Act (TCJA) and break down what’s addressed in recently released proposed regulations under Internal Revenue Code Section 168(k). Jesse also shares his insight on year-end planning after recent guidance to round out our week of TCJA-related guidance.

TIME STAMPS OF WHAT’S COVERED

[02:51] History of bonus depreciation
[05:16] Changes under the TCJA
[09:05] What’s addressed in the guidance
[18:03] Situations where you may want to elect out of bonus depreciation
[22:27] What wasn’t addressed in the guidance
[28:11] Where we are on TCJA-related guidance
[32:29] Why you can’t look at planning after TCJA in a vacuum
[34:25] Action items to consider now
[36:02] How the choice of entity analysis has changed with the guidance we’ve seen
[37:49] There’s much more TCJA-related guidance to come

BIO FOR GUEST

Jesse Palmer is a tax partner at BKD and serves as director of tax quality control at the firm’s National Office Tax Department. His responsibilities include quality control, risk management and day-to-day administration of the firm’s national tax practice. Jesse works closely with the national tax director on firmwide tax quality control projects and support-related tasks.

Connect with Jesse on LinkedIn

ADDITIONAL RESOURCES

Webinar Archive: Insights & Planning Points from the Proposed §199A Regulations

Summary: Bonus Depreciation after the TCJA

Simply Tax: Episode 27: The SALT Workarounds with Annette Nellen

Simply Tax: Episode 10: The International Side of Tax Reform

GET MORE SIMPLY TAX

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to [email protected].

Connect with Damien on social media!

LinkedIn | Twitter | Instagram

Next Episode

Planning to Finish #040

What does choosing to get some help with mowing your lawn have to do with succession and continuity planning? Find out as New York Times best-selling author Jon Acuff joins host Damien Martin to discuss his most recent Wall Street Journal number one best-seller “Finish: Give Yourself the Gift of Done.” Learn from the insights Jon gained from studying more than 850 participants in his 30 Days of Hustle goal-setting course as he shares practical and actionable tips for pursuing your goals.

TIME STAMPS OF WHAT’S COVERED

[03:16] Every life has cycles
[03:43] Perfectionism and raising kids
[07:36] The concept of “finish”
[09:46] Perfectionism in the workplace
[12:07] Perfectionism in succession planning
[14:09] Delegation is really about the fear of what you’ll lose
[15:39] The greatest life hack in the world
[18:11] Approach to getting feedback to change
[21:31] Being realistic about approaching your legacy goals
[23:09] Choose what to bomb
[25:17] How to bomb
[31:50] Why Jon loves his job
[33:11] Change, innovation and standup comedy
[38:05] Brush your teeth and do your taxes

BIO FOR GUEST

Jon is the New York Times best-selling author of six books. For more than 20 years he’s helped some of the biggest brands in the world tell their stories. He’s spoken to hundreds of thousands of people as a keynote speaker. Jon is also a big proponent of social media with blogs that have been read by 4 million people and almost 300,000 Twitter followers. Jon lives with his wife Jenny and two daughters in Franklin, Tennessee.