Important Steps to Take to Prevent Costly Mistakes
So I'm seeing so many people making major decisions like which business entity they want to pursue or signing their tax returns without even knowing what's inside. Please for your own safety when making major moves like these it is important to:
1.) Ask lots of questions. There is no stupid question except the one not asked? You might not be a Cpa but you deserve to have an understanding of what you are undertaking especiallyif something doesn't look or sound right when coming from your advisor.
2.) Find out the advantages/ disadvantages when pursuing a certain option. Every decision has both. Something might sound good but if you knew the hoops you had to jump through it might not be such a viable option for you.
3.) Never sign ANYTHING without 1st reading it thoroughly. This one here will oftentimes prevent you from moving forward. Somethings will fail the smell test upon further review. And never be afraid to follow #1 if you see something that doesn't. I always like to make sure my clients understand their returns and are confident in what I'm submitting. After all this is their product that they will be ultimately responsible for. So I will go as far as forwarding tax law to make sure my position is supported and that my client feels comfortable.