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Opportunities Missed on Tax Returns

On today's episode of the Wiser Roundtable Podcast, Casey is joined by Jordan Sute, CPA from Sute CPAs to talk about W-4 tips and opportunities missed on tax returns.

Listen on Apple Podcasts or watch on YouTube:


Casey begins the podcast by mentioning how there is a lack of women financial advisors in the industry. Jordan said that it was quite opposite when she was in college. She said that there were a lot of women majoring in accounting alongside her. According to the Bureau of Labor Statistics from 2018, 60.6% of all accountants in the United States are women.

Taxes are not one size fits all, everyone's situations are different. It is important to assess your W-4 every year, or every couple years when jobs change or when pay increases. Oftentimes, people are not withholding properly, and that is something you will want to look into. You can go online and fill out a questionnaire on the IRS website, and it will tell you how you are doing. The other option is to use the paper form itself and the chart on the back to go off of.

Land conservation easements are a voluntary legal agreement between a landowner and an easement holder by which the landowner imposes permanent restrictions on the way the property is used (source). These easements are currently being attacked by the IRS. The IRS is also either disallowing them or taking a much lower appraised value for them.

Georgia film tax credits are a great opportunity to find savings, especially with all of the movies and TV shows filmed in Georgia every year. Often, films are offered more tax credits than they know what to do with, and luckily these tax credits are transferable. These tax credits can be purchased through a broker. It is a great opportunity for people with a high income and high Georgia tax bills to save money.

The changes from the tax reform bill in 2018 are still being worked through even in 2021. President Biden is considering legislation to increase tax rates on capital gains. This is something to keep in mind, as you consider if these potentially increased rates could affect you.


4:24 Women in Finance and Accounting

7:24 W-4 Tricks and Tips

9:40 Missed Tax Opportunities

13:00 Land Conservation Easements

15:12 Georgia Film Tax Credits

16:40 2021 Tax Trends


Learn more about Casey Smith and connect with him on Twitter.

Learn more about Brad Lyons.

Learn more about Matthews Barnett.


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Learn more about the Wiser Wealth Management Roundtable podcast and access previous episodes.

Wiser Wealth Management, Inc. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

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