8 Ways to Legitimize Wacky Tax Deductions

legitimize wacky tax deductions

We’re sure you’re aware that there is a right way and a wrong way to do your taxes. But sometimes, tax deductions aren’t as “cut and dry” as they seem. Take, for instance, the junkyard owner who had a rodent problem. Instead of hiring an exterminator, he bought cat food and put it out to attract feral cats. The cats took care of his problem and he claimed the cost of cat food as a business expense. Or how about the taxpayer who tried to claim the cost of a daily sitter for his dog? It … [Read more...]

3 Ways To Get More CPAs To Refer You

refer

Financial advisors tend to see the relationship between advisors and CPAs as strategic, well-balanced and win-win. From your vantage point, you’re bringing value to the relationship by providing your services. And the CPA is bringing value to it when they refer you to their clients. Unfortunately, CPAs don’t usually see things the same way. The reality is, CPAs often view forming a professional relationship with a financial advisor to have little to no benefit to them. From their perspective, … [Read more...]

5 Things To Consider Before You Offer Financial Services

Financial

As a tax professional, you may have thought about how you can expand your business to include additional revenue streams such as payroll and bookkeeping. And if you’re like a lot of my clients, the opportunity to provide financial services has seemed like an idea worth considering as well. The good news?  You have lots of potential revenue-generating opportunities on the table. The not so good news? Some of them can do more harm than good to the practice you’ve worked so hard to build. … [Read more...]