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Financial Planning / Tax Strategies


Subject:  Re: Has Accounting lost its way? Date:  1/14/2002  12:49 AM
Author:  jailleres Number:  57143 of 127613

"That being said, it appears that in general, today's tax professionals are resting on their laurels,(among other things)when it comes to providing service for their clients. They are no longer doing what their clients are truly paying them for, their advice and skill in navigating the tax code for the pupose of legally reducing one's tax burden."

I'd like to take that sentiment to a new level: I have found very few tax professionals who could give useful advice. In 1986, I owned a fabulous investment property (vacant land) and sold it because I was told I could no longer deduct the interest and taxes. In 1996 I donated a $12,000 Persian rug (silk, Qum) to my university but could only deduct $5000 because the tax preparer I interrogated before making the gift failed to advise me to get a second appraisal (not from the same guy who sold me the rug). My current accountant is excellent and trustworthy. I just wish these other two had been.
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