The Evolution of IPT: Why Tax Education is So Important with Chris Muntifering
In this episode of the SALTovation podcast, Chris Muntifering, Executive Director at the Institute for Professionals in Taxation. Chris shares his journey from a finance graduate to a seasoned tax professional, emphasizing how he fell into property tax and eventually became a key player in IPT. Chris discusses the importance of education in tax management, with IPT providing resources for professionals at all levels, from basic to advanced training across various tax disciplines. Listen this week as we explore the importance of community, mentorship, and continuous learning in the field of taxation.
Key Takeaways:
- Chris's journey into tax began unexpectedly, showcasing how many professionals enter the field.
- The Institute for Professionals in Taxation (IPT) focuses on education across multiple tax disciplines.
- IPT's mission emphasizes providing broad-based education, catering to various levels of tax professionals.
- Networking and relationships are vital for tax professionals, as they provide essential resources and support.
- Chris highlights the importance of adapting tax knowledge in an evolving business landscape.
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Transcript
Welcome to Saltivation.
Speaker A:The Saltivation show is a podcast series featuring the leading voices in SALT where we talk about the issues and strategies to help you make sense of state and local tax.
Speaker A:All right, Chris, well, thank you so much for joining us today on the Saltivation podcast.
Speaker A:It's great to have you here.
Speaker B:Thank you.
Speaker B:I appreciate you having me on.
Speaker A:And so you've had an extensive career in tax that eventually led you to ipt.
Speaker A:Can you share with us what drew you into the tax field initially and then how you ended up at ipt?
Speaker B:Yeah, I'd love to.
Speaker B:I'll try to give you the abbreviated version because it's quite lengthy, but I think everybody can relate to that.
Speaker B:So I originally was in property tax.
Speaker B:That's how I got started.
Speaker B:And like a lot of folks in property tax, you don't leave college saying, I'm not going to property tax.
Speaker B:You kind of fall into it.
Speaker B:And then a lot of people in property tax stay in property tax.
Speaker B:I think a lot of folks say, I'm going to give it a whirl, see what it's like, and then I'm going to get out of it.
Speaker B:But they don't, they stay with it.
Speaker B:So when I graduated from college, I had a degree in finance and minors and economics and real estate.
Speaker B:And I was going to set the world on fire being a real estate developer.
Speaker B:I wanted to get into real estate development.
Speaker B:Two big problems at the time, double digit inflation and double digit interest rates.
Speaker B:So the real estate development market was just dead.
Speaker B:There was nothing happening there.
Speaker B:And so a good friend of mine said, you know, if you really want to do something real estate related, you have to get an appraisal because that'll give you a good background and valuation of property.
Speaker B:So I thought, yeah, that's.
Speaker B:That sounds good.
Speaker B:Problem was, I didn't have any education or experience in appraisal, but I was able to find what's like a, an analyst position.
Speaker B:They called it appraiser, but I was analyst position with a firm, a law firm in Minneapolis, that part of their practice was property tax appeals.
Speaker B:And I'm like, you know, I didn't know anything about property tax appeals.
Speaker B:I was like most people, I just figured, well, you just pay your property taxes, right?
Speaker B:And so I went there thinking, well, I'll just do this for a couple years and get a little more experience and move on to something else.
Speaker B:Well, a couple years, landed in five years.
Speaker B:And then I went to, did some consulting for the national firm for three years and then decided that I got, I Was got married and kids were coming along.
Speaker B:Decided I needed something a little more stable.
Speaker B:And so I landed a job with a food manufacturer in Minneapolis and corporate tax management.
Speaker B:So.
Speaker B:And I can say it was the Pillsbury Company, which was owned by.
Speaker B:It's now called Diageo.
Speaker B:And so they own Pillsbury and they own Burger King and they own Prohibition.
Speaker B:So they had a lot of companies.
Speaker B:It gave me a lot of exposures to property tax across the.
Speaker B:From, you know, manufacturing to retail to restaurants.
Speaker B:So it was a really good exposure.
Speaker B:It was a good transition for me.
Speaker B:And I just stayed with that until.
Speaker B:Well, until Pillsbury was acquired by General Mills.
Speaker B:And then I made the transfer General Mills.
Speaker B:And so throughout that, I was probably about 20 to 25 years in the corporate tax management side of things.
Speaker B:And along the way, you know, I came across abt.
Speaker B:So when I went to Pillsbury, I'd only done real estate appeals.
Speaker B:I hadn't done any personal property.
Speaker B:And now I needed to get educated in a personal property.
Speaker B:So I turned.
Speaker B:I took the course.
Speaker B:Just loved the course, loved the organization.
Speaker B:Some of the instructors at that time were about my age.
Speaker B:We became good friends.
Speaker B:We're still good friends to this day.
Speaker B:And I just started doing more and more with ipt.
Speaker B:I was on committees.
Speaker B:I was on schools.
Speaker B:And then I was on the board for a number of years.
Speaker B:And then I became.
Speaker B:I was an officer.
Speaker B:Was elected officer, second vice president and first vice president.
Speaker B:And I was on track to be president.
Speaker B:Along the way, my job at General Mills got eliminated.
Speaker B:And about six months later, the executive director at IBT said he was going to step down.
Speaker B:So it was like, you know, an opportunity.
Speaker B:I thought, well, why not give it a whirl?
Speaker B:I mean, at the time, I was 50 some years old.
Speaker B:Nobody was going to hire a corporate.
Speaker B:Corporate property tax manager at that point.
Speaker B:So this IPT seemed.
Speaker B:Well, I was, you know, well versed in the organization.
Speaker B:I've been very active with it.
Speaker B:And so applied.
Speaker B:I went through the selection process, interviewed with the selection committee and interviewed with the board, which is a little funny because I was on the board at the time.
Speaker B:And I interviewed the very people who are my colleagues.
Speaker B:So.
Speaker B:And they selected me.
Speaker B:And I'm very grateful and very honored that they did that.
Speaker B:In a very short, in a nutshell version, that's how I got involved with ipt.
Speaker C:And that's how interesting, because I go back to when.
Speaker C:Who is it?
Speaker C:That was the original IPT executive director.
Speaker C:Billy.
Speaker C:Is it Billy?
Speaker B:Yeah, Billy Cook.
Speaker B:Well, Billy wasn't the first but he was.
Speaker C:He wasn't.
Speaker C:Okay.
Speaker B:But he was.
Speaker B:The longest.
Speaker B:He, you know, was 20 years in that position.
Speaker B:And.
Speaker C:Yeah, so that's probably when I started with IPT was Billy was still in charge.
Speaker B:Right, right.
Speaker B:And then.
Speaker B:And then Cass Vickers came along and, you know.
Speaker B:Cass.
Speaker C:Yes, yes.
Speaker B:Yeah.
Speaker B:And he was very short tenure, three years.
Speaker B:And then.
Speaker C:Yeah, that was a disappointment because he.
Speaker C:I thought he was phenomenal, but he had a life pivot.
Speaker C:Right.
Speaker C:So I think that's why he decided to step down.
Speaker B:Yeah, yeah, yeah.
Speaker B:Wow.
Speaker B:Yeah.
Speaker B:I enjoyed working with Cass when I was on the board, and it was.
Speaker B:It was really nice to follow him in that role.
Speaker B:So.
Speaker C:Yeah.
Speaker B:And I was like, well, maybe there's a greater intervention here that's.
Speaker B:That's guiding my path.
Speaker C:Well, how interesting that your job will be eliminated, though.
Speaker C:I mean, it's so important.
Speaker C:Why would they not think they needed you?
Speaker C:That surprises me.
Speaker B:Yeah.
Speaker B:You know, at the time, there was this massive job cuts across the board, and they don't care about, you know, what role you're in.
Speaker B:And it always surprises me.
Speaker B:Not just the companies I was at, but other companies that make cuts in tax departments, because I know those folks are providing some of the greatest value to the organization.
Speaker C:Yes, yes, yes.
Speaker C:Could not agree more.
Speaker C:The money.
Speaker C:That's why I've never got into industry, frankly, because I'm a money maker.
Speaker C:Right.
Speaker C:I am an advocate, and I am going to save you money by being knowledgeable about all the issues.
Speaker C:And I'm going to pay for my salary way more than you pay me.
Speaker C:But there's something about that where we're not valued in industry.
Speaker C:We are, and then we aren't.
Speaker C:And it's like, that's just.
Speaker C:That's part of your bottom line tax.
Speaker C:Get rid of it.
Speaker B:And specifically with property tax, it's sort of a sword, because sometimes they just leave you alone thinking, I don't know what you do, but you.
Speaker C:Correct.
Speaker B:And sometimes it's like, I don't know what you do.
Speaker B:So I'm just, you know, I'm going to get rid of you and that's the end of it.
Speaker C:Yes.
Speaker C:No.
Speaker C:We sort of operate in an island, which is, I think part of what we've attracted in our team is people who care about this passionately and we work with each other, so we're kind of allies.
Speaker C:Because in industry, people are like, what tax?
Speaker C:You know, but you're like, it's important and.
Speaker C:But yet it's sort of like nobody thinks about it.
Speaker C:And only large companies can have people like you, but that is just walking away from money to not have you be a part of the team anymore and your institutional knowledge about the assets.
Speaker C:Wow.
Speaker C:Yeah, interesting.
Speaker C:Yeah, it's an interesting culture in America.
Speaker C:We're anti tax, but let's not get the tax people around.
Speaker B:Yeah, exactly.
Speaker A:Well, or I've seen the contrary.
Speaker A:Right.
Speaker A:Where tax, we typically work in arrears, Right.
Speaker A:So we're, you know, recording around, you know, the fall tax extended deadline, doing stuff for, you know, generally calendar year 20, 23, 10 months out, but doing things simultaneously.
Speaker A:Right.
Speaker A:Audits are three years ago.
Speaker A:And so I've had friends who've company who have been in internal tax, but once everyone else was released, tax was the last one standing because they had open audits, they had open litigation, and they're like, we can't get rid of these people.
Speaker A:We have to continue to pay them because they're the ones with the institutional knowledge.
Speaker B:Right.
Speaker A:And we can't just, you know, this, this, you know, case is eight years old.
Speaker A:Right.
Speaker A:But, you know, it's only in the courts now.
Speaker A:So it's, it's interesting, the dichotomy of how that can be kind of perceived.
Speaker A:But also, Chris, love that, you know, it's, it's those relationships, Right.
Speaker A:When you went to Pillsbury, it's like, you know, I need a network, I need resources, I need help.
Speaker A:And that's kind of what kept you.
Speaker A:Right.
Speaker A:Creating the friendships and kind of what brought you to where you are today.
Speaker A:And as we talk to people kind of across accounting and taxes, that's always been kind of the underlying theme of the relationships and really what keeps us going and keeps us being good at what we do.
Speaker A:So, you know, that's great to hear.
Speaker A:You kind of, you know, what brought you to your current position.
Speaker A:And so with that one, I guess, for our listeners, what does IPT stand for?
Speaker A:Because we've just been talking acronyms.
Speaker A:I don't think we've actually said it, but how is IPT structured and what is the mission of the organization?
Speaker B:All right, so the easy answer is IPT stands for Institute for Professionals and Taxation.
Speaker B:So it originally started out as the Institute of Property Taxation.
Speaker C:That's what I thought.
Speaker C:Yes.
Speaker C:That's the impetus of it was Property taxes.
Speaker C:Yes.
Speaker B:Yeah.
Speaker B:And as the organization grew and brought in sales and use tax and the state income tax, obviously the name Institute for Property Taxation didn't fit across the border.
Speaker B:It fully represented membership.
Speaker B:So trying to keep with the ipt, you know, insignia, of course, change it to Institute for Professionals and taxation.
Speaker B:So interesting that was.
Speaker C:I knew that.
Speaker C:I mean, I go back away.
Speaker C:It's not as bad as the organization.
Speaker C:But Bob Atkinson was my boss at Deloitte and he's the one who said I should get involved.
Speaker C:And that was, golly, 20, 30.
Speaker C:I was not maybe close to 30 years ago.
Speaker C:So a long time ago.
Speaker C:And he said, if you want, I'm a lawyer and a cpa.
Speaker C:So he said, you can go the ability and get dually certified and this is what you should do.
Speaker C:And he was a president of the organization at one point and he was a sales tax guy, but I think he was property tax too, because he was Sears.
Speaker C:Sears at Roebuck.
Speaker C:He worked at Sears with a lot of stores and you know, no longer a relevant entity.
Speaker C:But I love the Sears catalog.
Speaker C:That was Amazon in the day ordained.
Speaker B:Our substitute by talking about black and white catalog.
Speaker C:I would, you know, you didn't even have sticky notes then you just circle that.
Speaker C:You're like, I want this.
Speaker B:Yeah, yeah, yeah, I remember that well.
Speaker B:Especially when the Christmas catalog came up.
Speaker B:That was a treasure.
Speaker A:I was like, yeah, I did that too.
Speaker A:And now Amazon sends a Christmas catalog.
Speaker A:Amazon sends a holiday catalog.
Speaker A:It showed up last week.
Speaker A:So you have plenty of purchasing time.
Speaker A:Two months ahead of time.
Speaker A:But as we digress.
Speaker A:And so what is the mission and kind of the founding kind of principles of why IPT exists?
Speaker B:So let me answer the second part of your question that you had originally.
Speaker B:You know, how are we structured?
Speaker B:So IPT is structured as a 501C3.
Speaker B:So we're a not for profit organization committed to education.
Speaker B:All right, that differentiates us from some of the other folks and like a.
Speaker C:C6 or something, which is an advocacy group or a lobbying group or something.
Speaker C:Or professional organization.
Speaker B:Yeah, okay, exactly.
Speaker B:So as a C3, we can only do education.
Speaker B:So in order to maintain that tax exempt status, we can only do education.
Speaker B:We can't do advocacy, we can't do lobbying.
Speaker C:Ah, so that didn't realize that.
Speaker C:I didn't know that.
Speaker B:Right.
Speaker B:Okay, so.
Speaker B:And so our mission, Meredith, is that we provide broad based education across the four disciplines in ibt.
Speaker B:So this property tax, it's sales and use tax, state income tax, and it's credits and incentives.
Speaker B:So by being broad based, we provide education from, from the very basic introductory level to advanced schools, to our symposiums and then our annual conference across all four disciplines.
Speaker C:Credits and assets, property tax, income tax and sales tax.
Speaker C:But we still have vat.
Speaker C:We've had a little bit of vat, but that Is not that it has.
Speaker C:Not that concentrated.
Speaker C:Because I've been to some VAT things over the years.
Speaker B:Well, as a matter of fact, we, we've had a VAT symposium for a number of years.
Speaker B:Yeah.
Speaker B:It's typically followed our sales tax symposium because it just made sense.
Speaker B:You know, it still does make sense that you follow up your sales tax with the vat because people are there for sales tax, they can go right to that.
Speaker B:But, but this year we provided a VAT school.
Speaker B:It's the first time we've done a VAT school and had over overwhelmingly reception to success and well received, I should say.
Speaker C:Okay.
Speaker B:Yeah.
Speaker C:I mean, I know, I thought about sending someone to that.
Speaker C:We are getting those issues because with, you know, Internet, there are no walls, there are no borders.
Speaker C:Like people can sell anywhere to anyone.
Speaker C:We just talked to a potential client from the UK selling across Europe and of course selling to the American market.
Speaker C:What do we do?
Speaker C:Right.
Speaker C:We got bad issues of a UK entity.
Speaker C:We have treaty, we have crazy stuff.
Speaker C:Right.
Speaker C:And we want to collect US sales tax.
Speaker C:Like how do you do that?
Speaker C:The boundaries of business have been eroded, which opens us the VAT issue for people in the transaction world because we have a transaction.
Speaker C:How do we manage it?
Speaker C:So that's very interesting.
Speaker C:We.
Speaker C:More that I've seen us morphing.
Speaker C:I just didn't know how intentionally that was, how big a leg of the stool that's going to become.
Speaker B:Right, exactly.
Speaker B:So we'll, we'll offer the VAT school again and gauge that to see how it goes.
Speaker B:But I think there's, there's very, very promising future for that within our organization.
Speaker B:So I could see that being our fifth discipline someday.
Speaker C:Yeah.
Speaker C:How do you decide that will officially become so I mean, how did this more.
Speaker C:Because I feel like it's been trickling until we had the school.
Speaker A:Yeah.
Speaker B:You know, it's, it's got to establish itself as something that's consistent year in and year out and, and I think it will establish that self.
Speaker B:I said, you know, give it a couple years with the school and the symposium and then I think it makes more sense to create a separate discipline within that.
Speaker C:Okay.
Speaker C:Okay.
Speaker B:Yeah.
Speaker C:Okay.
Speaker B:And these are things that never happen overnight.
Speaker B:Of course they have to evolve over a given time.
Speaker B:Yeah.
Speaker C:And you have to see what the constituency is.
Speaker C:But it's so imperative for the younger generation to empower them with information.
Speaker C:As you know, we're morphing off into the legacy of our careers.
Speaker C:Like how are we going to get the younger generation engaged?
Speaker C:Like you Said, people, don't even think about this.
Speaker C:I have a law degree, a master's of tax.
Speaker C:Never took a state and local class.
Speaker C:Fell into this career myself.
Speaker C:And it interested me.
Speaker C:I mean, everyone we've talked to, multi state tax commission people, Jeanette Loman, I could give you the list.
Speaker C:Like, nobody started out being a state and local person, right?
Speaker A:And then we're the weirdo.
Speaker C:That's right.
Speaker C:You did.
Speaker A:I did.
Speaker C:I forgot about that.
Speaker A:I'm okay.
Speaker A:Well, but some of that was also opportunity, right?
Speaker A:I knew, I knew I was going to be an accountant in high school.
Speaker A:I took the accounting class in high school, declared it as my major in undergrad.
Speaker A:And then the opportunity came up.
Speaker C:Right.
Speaker A:My grandfather was a cpa.
Speaker A:My brother worked in state and local tax.
Speaker A:And he, you know, I'm a Nepo.
Speaker A:I'm a salt Nepo, baby.
Speaker A:My brother threw my name in the ring for an internship when I was a junior in college.
Speaker A:And I was like, I want to work.
Speaker A:I don't care where.
Speaker A:I don't want to do audit, I want to do tax.
Speaker A:Don't care where, don't care how.
Speaker A:And he's like, well, this is what we need.
Speaker A:And so that was, you know, almost.
Speaker A:I mean, that was almost 20 summers ago.
Speaker A:20 summers ago.
Speaker A:And.
Speaker C:And you're kind of unusual, I feel like with people like Chris.
Speaker C:It's like I feel like we're all sort of fell into it and then like, this is actually kind of a cool area.
Speaker C:Cause I started as general federal tax practitioner and I thought, why am I doing this?
Speaker C:I wanna ski.
Speaker C:I live in Colorado, I don't wanna work every weekend and I'll be darn if I wanna work Labor Day.
Speaker C:I fundamentally have a problem with that.
Speaker A:But.
Speaker C:But I'd rather be Busy on the 20th of every month.
Speaker C:What am I thinking with a monthly requirement?
Speaker C:But I don't know.
Speaker C:The web was weaved and there you go, I'm caught in it.
Speaker A:And so we've thrown out some of the kind of like various educational tracks.
Speaker A:So the symposium, the school, the annual conference, kind of, how does IPT educate?
Speaker A:What kind of programs do they offer?
Speaker A:And what are like the differences between, you know, the symposium, the school, the annual conference.
Speaker A:Can you talk through some of the kind of just gatherings that occur?
Speaker B:Yeah.
Speaker B:So the schools are established to provide tax management skills to its attendees.
Speaker B:So if you're brand new, and we see that a lot in property tax and sales tax, people are just thrown into it saying, okay, now you're going to do property tax, now you're going to do sales tax.
Speaker B:And they don't have any experience.
Speaker B:So our basic schools, our entry level schools, provide them with that, that very broad based education, if you will.
Speaker B:And then we have advanced schools that capitalize on top of the teachings of the prior schools.
Speaker B:So that's sort of your tax management base, if you will, in terms of education.
Speaker B:And then the symposiums, they're all discipline specific, right?
Speaker B:So sales tax only has sales tax topics, property tax only has property tax topics.
Speaker B:And each of those five disciplines, and I throw a bag in there because it's a separate symposium, those are specific to those disciplines.
Speaker B:So that's where you're going to get sort of your advanced education, if you will.
Speaker B:And then our annual conference is the one that brings all those disciplines together.
Speaker B:So if you're somebody that, let's say, you know, you primarily do property tax, but you dab a little bit in sales tax, you do some state income tax credits, you can go to the conference and yeah, you can pick up your basic property tax education, but you can also go to these breakout sections, sessions and sales tax and credits incentives and state income tax.
Speaker B:So it gives you an opportunity to cover, cover off on everything.
Speaker B:So that's sort of generally how we're structured with our programs.
Speaker B:We also do the, as Judy knows, we do the aba, so we partner with ABA on that.
Speaker B:And that's because those are legal seminars.
Speaker B:That's a day and a half session each of three disciplines.
Speaker B:State income tax, sales and then property.
Speaker B:And that's more, more legal based.
Speaker B:But that's not, it's not exclusive to attorneys.
Speaker B:We do have a lot of people who are not attorneys that attend those sessions because they're very informative.
Speaker B:And what's happening across the country and.
Speaker C:The cases that are going to impact taxpayers, it's such a big deal like what's coming down the pipe, what industry will be hit next basically by the sweat jam.
Speaker C:I mean, I remember going to the Alabama, it was Joe from Alabama and the guy who represented Overstock, the lawyer, I think he represented Overstock, talking about the Wayfair decision.
Speaker C:Stare decisis.
Speaker C:I remember sitting there at that luncheon thinking, I don't know, I think the Wayfarer thing's gonna win.
Speaker C:In other words, the South Dakota is gonna win.
Speaker C:And they did.
Speaker C:Because the Internet has changed the way business is going and we've got it.
Speaker C:That tax is not getting in the coffers of state governments.
Speaker C:Too many trillions of dollars.
Speaker C:And that's what happened.
Speaker C:So I remember thinking, oh, this is amazing.
Speaker C:We have these people sitting at the table.
Speaker C:We get to talk to them, right?
Speaker C:Yeah.
Speaker C:And also it's interesting that those companies took those cases forward.
Speaker C:Obviously it was intentional because no offense, but 800,000 people live in South Dakota.
Speaker C:It's just not that important as a market, I'm sure, but making the standard for the rest of us to maybe follow suit.
Speaker C:So yeah, it was really interesting what we bring to the table in terms of the people litigating the cases.
Speaker C:I think it's huge.
Speaker C:That network is so important to know what's.
Speaker C:How the, how that sausage is getting made across our states.
Speaker B:Right.
Speaker B:And you touched on a very good point that at these programs you have the opportunity to actually meet these people.
Speaker B:Right.
Speaker B:You're not just an attendee there.
Speaker B:You go up to that person after all done and have a conversation with them.
Speaker B:And yeah, they're always willing to get engaged with, with the members.
Speaker B:So it's a great opportunity for not just, you know, general networking, but also to meet these decision makers, people that are.
Speaker C:When I left the big four, I spent 14 years at Deloitte and PwC.
Speaker C:And when I left and went to a regional firm and I was the salt desk, I needed a network.
Speaker C:I could not do it without the.
Speaker C:I could never have done it without ipt.
Speaker C:You're a godsend to me as a program that doesn't have a Washington national desk, doesn't have a Michigan desk.
Speaker C:I called my IPT brethren and they helped me.
Speaker C:I mean it's a wonderful network of humans that are connected in their industries, amongst their states, that are wildly breadth of knowledge.
Speaker C:So you could go, I think I read this law.
Speaker C:Right.
Speaker C:But can you confirm that?
Speaker C:I'm thinking right.
Speaker C:And they do and they're.
Speaker C:They answer the phone.
Speaker C:I have never not had help from an IPT member ever.
Speaker C:My entire career of almost 30 years.
Speaker C:It's been a phenomenal organization in my humble opinion.
Speaker B:Yeah.
Speaker B:With the access to the membership information is so worthwhile.
Speaker B:I mean it is, it's worth the price of admission as they say.
Speaker B:You know, just remember to have that.
Speaker B:So you're absolutely right.
Speaker C:Yeah, I am.
Speaker C:I've just been all the list.
Speaker C:I mean, I can't tell you.
Speaker C:Many times I'm like, find somebody in this state and call them and see what they think.
Speaker C:Because we're, you know, we're not sure and we're not so sure what the department's going to do.
Speaker C:We don't want to call the department.
Speaker C:Right.
Speaker C:This is a questionable thing.
Speaker C:What do you guys Think so.
Speaker C:I've always been found.
Speaker C:Every single, every time I've gone.
Speaker C:It's been invaluable.
Speaker C:The people that I've taught, the community, it's been a wonderful community in America.
Speaker C:And we need to be bigger so the younger generation gets involved too.
Speaker B:Right?
Speaker B:I couldn't agree more.
Speaker A:Well, and that's where.
Speaker A:When I left Big four, that was one of my biggest concerns.
Speaker A:When I left, kind of that trapping, I was like, well, it's like I'm the first internal state and local tax resource.
Speaker A:I'm still like, I'm smart.
Speaker A:I know I'm smart, but I can't know everything.
Speaker A:And so that was one of the biggest, kind of like, hurdles I had to overcome, was like, oh, my God, this person's hiring a state and local income tax person for a small firm.
Speaker A:They're going to expect me to know everything.
Speaker A:And again, as smart as I can be, I'm not litigating, I'm not challenging rules in New York.
Speaker A:And so, yeah, that again, going back to that connectivity, this is just another means to kind of bring the people together who think alike and who struggle alike.
Speaker A:Right?
Speaker C:One, different industries arise, right?
Speaker C:Like transportation is different than food service, than hotels.
Speaker C:I mean, there is a wide swath of industry in America.
Speaker C:How do we deal with it?
Speaker C:How do we tax it?
Speaker C:You know, so we need to come together with other people because of course, we have the supremacy clause in our United States Constitution that allows a lot of kings.
Speaker C:I joke.
Speaker C: I mean, we left: Speaker C:So, yeah, so I'm like, yeah, funny what we asked for.
Speaker A:This podcast is for educational purposes only and is not intended, nor should it be relied upon as legal tax, accounting or investment advice.
Speaker A:You should consult with a competent professional to discuss specifics of your situation and the applicability of the information presented.
