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Welcome to the Roaring Twenties. I mentioned that to a 20 something in my neighborhood while walking the dog and she looked at me puzzled. She then asked me what it was like living in the last century. I told her the 1900s were the best, best of music, cars, dancing and doing things without the help of a cell phone. Happy New Year everyone.

My friend asked me what I saw myself doing tomorrow. I said that is a silly question. Do you think I have 2020 vision?

The Tax Laws are not simpler - but for most people they are. It has been reported that the number of people itemizing deductions has shrunk from 25% to 8%. I believe that means the IRS can avoid complicated returns and process most people's taxes simply by compiling information returns. They have been at war with itemized deductions my entire career - the standard deduction was called "low income allowance" and hardly anyone took it back then. An increasing number of taxpayers can now very easily file taxes themselves, online, or TurboTax. I am recommending for taxpayers to engage in a sideline business, or buy rental property, or otherwise complicate things. Not so I can continue with their tax preparation, but for their own benefit to deduct expenses that are now lost. And I expect in the near future, the IRS will swoop down and reclassify legitimate consulting businesses to employees. I have enough clientele left to sustain me - for most of mine have rental property, small business, exotic investments, etc. But as an industry, I see a shrinking customer base. One telling look-around at CE seminars reveal most people at those seminars are 55 or older. It is a new year, and we've got to pay attention to handwriting on the wall.

Where’s the beef? I have never seen so much turn over in the accounting field, they say an accountant never loses their balance, but some whipper snappers find out too late they picked the wrong career

I wish you all a happy, healthy, and prosperous 2020! For those that are traveling, please be safe.