Common Mistakes Clients Make With Accountants

Below, Alex Katz, the chief financial officer of Venture Capital, lists the most common mistakes made when working with an accountant.

• Using an online accounting tool instead of investing in a trained and professional accountant
• Not being honest with your accountant. Always remember “the truth will come out, either in the planning stage or in front of the IRS auditor.”
• Failing to follow the advice of the accountant. Remember your accountant is the expert and you pay for their advice and services.
• Asking your accountant for aid in areas that are not their expertise (e.g. do not ask your accountant to review business contracts unless they have a license to practice law).
• Get answers to your tax season questions way before the filing date as well as any tax documents needed.

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