NTA2214. How to Protect Your Clients from Themselves: "I Heard About This Tax Deduction on Social Media"

Social media tax "experts" have creeped into your client's inbox/DMs/social media feeds. With the proliferation of social media tax "experts", clients are often misled or fed a false narrative about a tax planning opportunity that does not actually exist. Clients used to come to us with "my neighbor says I can deduct my hunting camp because his CPA lets him deduct his hunting camp". Now, the clients come to us with "I saw this video on social media about how to move to Puerto Rico and pay zero US taxes...how come you never told me about this". This session will explore the dark side of the "tax experts" on social media and debunk the tax myths conveyed by these "experts".

Learning Objectives:

• Identify top income tax planning techniques conveyed by the "experts" on social media
• Determine how these techniques can often be misleading or false and identify how to "debunk" these tax myths