Let’s Talk Taxes: How to Approach Tax Season with Your Clients
There aren’t a lot of words clients hate to hear more than taxes. Keep reading to learn tips and tricks for broaching the topic of taxes with your clients and keeping the entire process smooth and productive.
You know what they say: nothing in this world is as consistent as taxes. Unfortunately, we all know how true that can be. However, you may be making mistakes in tax planning that lead your clients to pay more than they should.
Instead of trying to argue with the client about the dangers of owning rentals, simply ask that the client get a copy of the tax return because “like fishing stories, everyone tends to exaggerate how much money their rental makes, EXCEPT when reporting it to the IRS.”