Your CPA May not be Giving You Tax Advice

I surprised a client the other day when we gave him some thoughts on his taxes. I’m not a CPA or EA and don’t claim to be, but as a CFP, I’ve learned a thing or two about taxes and I enjoy sharing what I know.

After giving him our thoughts on how he can mitigate the thousands of dollars he paid in penalties and interest for his 2024 tax return he said, “when I signed up with you, I had no idea that you’d give advice on more than just my investments. I’ve had the same CPA for 5 years and he never gave me that advice!”

Whether he got the advice or not, I don’t know.

But I do know that even if he did get the advice, it never sank in. That’s why I think it’s so important to help break down financial topics as plainly as possible, so people can’t miss the point.

I’ve said it before, and I’ll say it again, investments is only about 40% of what I do. The other 60% is everything else around investments.

-Estate Planning
-Tax Planning
-Cash Flow Planning
-Retirement Planning
-Insurance Planning

PS – Are you happy with the advice you’re receiving from your CPA? I’ve been hearing a trend lately.. and its not good.