Help Me “Show You the Money”

Help Me - "Show You The Money"I recall the locker room scene in the movie Jerry McGuire where Tom Cruise was struggling to keep his only sports management client, Rod Tidwell. Jerry was pleading with Tidwell, “Help Me Help You!”

Tax preparation is an area where tax preparers need your help to help you. Sometimes items can fall through the cracks and end up costing you tax dollars. The way to prevent this is by proactively talking with your tax preparer. While I work very hard to know my clients, sometimes CPAs don’t have the luxury, due to the enormous number of returns prepared, to know the goings on in most of their clients’ lives. Due to the time constraints in a normal client –CPA tax meeting, information can get overlooked. This can be costly!

The most important thing you can do as a tax client is to communicate with the preparer. It’s also important that the preparer communicate with you. If you feel you are not getting the communication you deserve, then it is time to find a new tax preparer.

One of the best ways to communicate with the preparer is by asking questions. Most folks don’t understand the IRS tax code, so by asking questions you can stimulate conversations that may lead to the discovery of a deduction.

If the lines of communications are open between you and the preparer, and the preparer knows and understands your situation, the preparer should be able to “Show You The Money!”

About the author

Troy Von Haefen, CFP®
Troy Von Haefen, CFP®

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