It’s Not About Tax Returns, It’s About Having More Wealth

It’s Not About Tax Returns, It’s About Having More Wealth

This time of year it seems natural to focus on getting your tax returns done.  Maybe you’ll prepare the forms yourself using Turbo Tax or a low-cost online software solution.  Maybe you’ll take a chance and spend a few hundred dollars (after all their hidden fees are revealed) going to a seasonal chain tax store and having their temporary workers prepare your returns.  Of course, there’s another alternative that you may have considered too expensive.

== $$ ==

 An experienced Certified Public Accountant (CPA) will use the tax return prep interview as a way to get to know you and your circumstances, kind of like a doctor asks about your medical history during an office visit.  And, much like a doctor, the CPA should ask you questions, not just to complete forms, but to help you to get financially healthier.  This way, you will very likely discover opportunities to create additional wealth for you and help attain your financial goals.  And the last doctor-CPA comparison I’ll use is that your CPA should have a friendly “desk-side manner.” 

You should feel confident that your CPA has at least a 4-year degree in Accounting and has passed the CPA exam, which fewer than 20% of test takers pass on their first attempt.  The AICPA also requires that the CPA continue their education with at least an average of 40 hours of specific training every year. 

And, of course, the CPA practices accounting and tax all year long, not just for a few weeks before the tax return season.  This means that your CPA is looking for ways to maximize your wealth throughout the year.  I know that personally, it’s quite common for me to present ideas to clients that save them literally thousands of dollars in taxes and other non-tax expenses.

So, having a CPA in your corner will, at the end of the day, put more money in your pocket – and not just from a tax refund.  I know this sounds a bit self-serving, but I know with 100% surety that my clients make and/or keep more money by using my services than they would any other way.  

CPA’s are there to be your financial doctors,
keeping you fiscally fit!

• > Is it better to lease or buy that car? 
• > Should you pay points to lower your mortgage interest rate? 
• > Is now the time to refinance? 
• > Should I pay-down my home equity loan or my credit card balance? 
• > If I take a 2nd job, will I pay so much more in taxes that it won’t be worth it? 
• > What’s the ‘true’ cost of both parents working? 
• > Our income is higher than ever, yet we don’t seem to be saving anything.  How do we get our spending under control? 
• > Our broker is recommending some things that we’re not too sure about.  Can we get an unbiased, second opinion? 
• > I just got a letter from the IRS.  What do I do with it?
• > My wife is an Army NCO, deployed to Afghanistan and is from California. I’m from New York and work at a job near her base in Florida and our 2 children go to daycare while I work. Where do file tax returns? 

These are just a few of the common, everyday questions I get asked and am happy to help with.  The best starting point for your CPA to get to know you and your financial and family situations is to prepare your tax returns.  You’ll find it’s your best value, by far!

==============================

Copyright© 2010 KSF CPA Services LLC. All rights reserved.

Contact me:
kfolberg@mynetcpa.com
(262) 421-1170 Office
(877) 277-7151 Fax