Accounting Professor Offers Tax Tips

Jim Angelini, professor and director of the Master of Science in Taxation Program at Sawyer Business School, was recently quoted in the Boston Globe, offering insight in an article that shared tax filing advice.

The article, titled “Romney’s 1040s offer tips for filing,” was published in the business section of last Sunday’s Boston GlobeGlobe correspondent Jay Fitzgerald compared former Massachusetts governor and Republican presidential candidate Mitt Romney’s 2010 and preliminary 2011 tax returns to the average tax filer. He offered various lessons and pieces of advice that average taxpayers could take away from Romney’s filings.

Fitzgerald recommended that taxpayers do as Romney did, and take advantage of lower capital-gains tax rates, charitable tax deductions, write-offs of asset gains, and other measures that would decrease their amount of legally owed money.

Angelini was quoted throughout the article, as he assessed Romney’s filings, shared background information, and elaborated on some of Fitzgerald’s advice.

After evaluating Romney’s taxes, Angelini told the Globe, “I think I have 1040 envy, for sure,” highlighting the fact that the filings served as a good example for the common taxpayer, and there were many lessons to be taken away.

For instance, Fitzgerald encouraged filers to take advantage of the money that is legally coming to them. Supporting that idea, Angelini told the Globe, “A lot of people, usually the wealthy, take advantage of municipal bonds. They’re not taxed, and they have small interest-rate returns. They’re simple, good investments.”

Angelini proved to be a credible source to the Globe article, as his areas of expertise fall under the categories of both federal and state tax policies. Angelini, a certified public accountant (CPA), earned his PhD from the University of Houston and his MBA from Babson College.