Don't Forget to Follow Paid Tax Advice

If one pays someone to do your taxes, ask them about how tax liability can be reduced.  When I was a tax professional, I would give advice on how to legally reduced one's tax liability.

When the taxpayer came in the following year, I asked if he had followed the advice.  The answer was inevitably, "No."  He could have saved thousands of dollars, if he had followed my advice.   It was then that I realized that people would rather stick a pin in their eye than think about taxes before tax returns are due.

In another case not related to my tax work, I knew someone who complained about being charged a penalty for underpayment of taxes. I knew he used a accountant for tax preparation.  I said, "Yes, you need to pay estimated taxes along with your gains.  You accountant should have told you."  He responded, "He said he told me."     Oh well.

For more on Ideas You Can Use, check back every Tuesday  for a new segment.

This is not financial nor tax advice. Please consult a professional advisor.

Copyright © 2025 Achievement Catalyst, LLC