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Hiring multiple positions in Tech/Sales at Fintech GRIP.
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It ALWAYS comes back to haunt you. Either it’s good advice and they want more time-consuming help later (or tax prep “help” which magically evolves into you doing their return for them), or it’s not the right advice and it’s unequivocally your fault and your liability.
I try to avoid.
Subject Expert
If you’re not comfortable then don’t give the advice. I give advice all the time but I give them options and also let them know it’s just my opinion and there are other viewpoints such as a Roth vs. Traditional IRA or should I buy a 6,000lb+ vehicle for a tax deduction. I don’t think my license is at a level of risk that I’m worried about.
I tell them my billing rate and see if they still want help.
🙅🏾♂️🙅🏾♂️🙅🏾♂️🙅🏾♂️
I would never do it.
I have family ask all the time. I do my parents and mother in laws taxes, but it is all SS and 1099s so really just putting numbers on forms and submitting. I have a brother in law that bounces “aggressive” expenses off me that I always just say that I would not do that. Only time I helped anyone other than returns above is when my brother got audit notice with large amount due. I looked at it for him and told him the IRS was wrong and suggested how to respond. I would help if it is a really straightforward answer but try to stay out of it as much as I can.
I tell them i do salt and avoid it
I will only give specific advice for black and white issues. A friend asked me about the stimulus check (inputting it on his return), another one about whether or not he would have a gain on his home sale, and I do my grandma’s return, but that’s it. I don’t give actual advice.
I always tell them they need to be paying more and there are no such thing as “write offs”. They stop bothering me when they know I’m not gonna help them “game” the “system”