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FIB - Scams 101 - Ye Olde Archives

I think you're partially right...

Posted By: MaaMaw
Monday, 5 June 2006, at 10:56 a.m.

In Response To: Re: Let's don't stray into Bullcaca territory... (Jim Kaiser)

> I don't claim to have any knowledge of the tax laws, at least not enough
> to do my own personal or business taxes.

Nor do I.

I get hives just thinking about it.

> I put my trust in people who are licensed to do that stuff and I assume
> that there are concequences for them if things are done wrong.

I'm sure there are.

> I don't want them to lie or cheat, just to use everything available to my
> advantage.

I understand that -- sorry if I implied you were doing any of the above.

> Worst case scenario for me - I pay more taxes

I could be wrong, but I don't think that's the worst-case scenario. 

If you have a tax person who *does* lie or cheat (unbeknownst to you) and you sign on the dotted line year after year after year -- while unknowingly enjoying the benefits of said lying and cheating -- I believe you can be in some serious legal trouble not to mention possibly being ruined financially.

Why would a tax person do such a thing?

I dunno...

Because he honestly misinterprets the IRS regulations?

Because he needed word-of-mouth to build his business, then it was too late to turn back?

Because his clients love him, believing him to be honest and buying his line of bullcaca, and therefore will pay through the nose for his services?

Because he's a liar and cheat at heart and doesn't know any other way to operate?

I'm not implying for one second that your aggressive tax guy is any of the above (and I would love to find a more aggressive tax guy myself).

I'm just trying to point out some possibilities and make the very important point that we are *all* responsible for the information on our *own* tax returns, no matter whodunnit.

Here's an article that explains it:  Start near the bottom and read "In the Event of an Audit" and "Tips to Remember."  Those "severe penalties" they mentioned can destroy you.

Luv,

MaaMaw

MaaMaw's Magnificent Toolbox

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You'll find great information in this "Read Only" Archive, but remember..... things change.
Be sure to visit the Current Message Board when you're finished here.

We're very friendly, so don't be shy... just jump right in and post your question.
Scams outnumber legitimate biz ops about a bzillion to one, so it's well worth your time.



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(you know who you are... you scream "Foul!" when the truth comes out)
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