Why Your Tax Pro Says No to Creative Strategies

This one is for the business owner who thinks that their accountant may be a little too old school or too hesitant when it comes to approaching new tax strategies and deductions. Many accountants and tax professionals are actually extremely conservative and I think that doesn't really come as a surprise.

You cannot expect your tax pro to grant every wish and accept every strategy you bring to the table, especially if it's something you heard from a self-proclaimed tax guru. However, even if it's something one of your industry friends does, that doesn't always mean it's a good fit for you.

I truly believe that a lot of pros are looking out for you when they decide not to take on an aggressive strategy. Next time your tax pro denies a strategy or deduction you bring to the table, consider how risky it is, whether you have documentation to substantiate the strategy, and how much money the added risk is actually going to save you!

* Related episodes:

221. How Do I Use the S Corp Strategy?

226. Deducting Business Travel

231. Questions You MUST Ask Your Accountant Before Signing a Return

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.