Eric Chaimowitz is a senior tax manager and shareholder at Truepoint Wealth Counsel. In his practice, he helps high net worth individuals, trusts and estates, and small businesses navigate the tax code. A former computer programmer, he sees parallels between the tax code and computer code—both are puzzles that needs to be solved.
Chaimowitz grew up in South Florida and has worked at PwC, Keiter, and Elliott Davis Decosimo before joining Truepoint in 2016. A former Cincinnatti resident, he’s been working remotely from Texas for the past four years and says he misses opening day of baseball season in Cincinnati, “which includes a parade and often feels like a holiday celebration.”
He turns to coffee and Cheez-its to keep him going on the job. Outside of the office, you might find him tuning in to a Miami Marlins or Cincinnati Reds game, or watching the latest Disney movie with his three young daughters.
What’s your official title and what does it mean? My official title is senior tax manager and shareholder at Truepoint Wealth Counsel. At Truepoint, there is not a big difference between being a manager versus a senior manager other than experience and expertise. There isn’t the typical hierarchy present in other CPA and wealth management firms. Truepoint is an employee-owned firm—as a shareholder, I am part owner. When I started working at Truepoint, one of my goals was to become a shareholder.
Free time: book, audiobook, or podcast? There hasn’t been much free time lately between work and kids—three little girls. When I do find free time, I enjoy a good science fiction book.
Tax is a huge subject. What’s your area of special interest? My area of expertise is in high net worth individuals, trusts and estates, and small businesses. I love helping clients achieve their financial goals through tax planning in all of these overlapping areas.
What’s the last movie or show that you watched and loved (DVD, Netflix, or in the theater)? The last movie that I watched and loved was “Encanto” on Disney+. This is a great movie that shows that we are all special in our own ways. My favorite song, “Surface Pressure,” is a great description of tax season. We feel like we have the lift the world during tax season for clients and need to understand that we all have limitations.
What college did you attend and what did you study? I went to Florida Gulf Coast University and studied accounting for my undergraduate degree. I obtained my masters of taxation degree from Nova Southeastern University.
Go to pick-me-up: Coffee or tea? 100% for coffee—the fuel in the morning to get going on some tax planning projects or returns.
What’s the best tax or financial advice that anyone ever gave you? The best piece of advice I was given when I was younger was to contribute to a Roth IRA when I have earned income. I always recommend younger staff and clients to do this. When someone is younger, they tend to be in a lower tax bracket. Therefore, they can get funds into a Roth environment for a low cost. Plus, being young, there is many years of tax-free growth before retirement.
If you weren’t working in the tax profession, what would your dream job be? I would most likely be a computer programmer. I loved computer programming when I was in high school, as well as my first two years of college when I was a computer science major. When I look back at it and knowing that I love puzzles, although different, both computer code and tax code are just puzzles to me that need to be solved.
If you had the opportunity to make one change in the tax world - an extra credit, a disallowed deduction, whatever - what would it be? I would permanently extend the increased Child Tax Credit and make the credit fully refundable. I know this extension was in the Build Back Better Act, which has not currently passed. This increased credit helped many families living in poverty this past year.
Favorite food, snack, or candy during tax season or other busy time? I have to say Cheez-its! They are an addiction and I do my best to try to stay away from them to avoid tax season weight gains.
What tax news or move made the most impact on your practice or clients this past year? There are a handful of items that had an impact on my clients. Some of the biggest impacts came from Covid-19 relief and the possibility of tax rate changes.
If you received a big tax refund check right now, what would you do with it? Having three young daughters, I would most likely take that large refund and put it into their college funds. Watching them grow up, attend college, and obtain a career that they love—like I have in my life—is a dream of mine.
You can find out more about Chaimowitz’s firm on its website.
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