Recently I met with a business owner who wanted me to review his business tax returns to see if he was properly represented. He was skeptical at first but his banker, a friend of mine, suggested he get a second opinion on his tax filings. “Warren” has a manufacturing business in North Georgia and is eligible for employment tax credits and domestic production activity credits amongst others. Neither of these credits was being deducted on his tax returns. He was hesitant to hire me because my fee was more than what he was currently paying. I calculated the true “cost” of his current CPA’s services which included the fees he paid and the tax credits he was not getting. Once he reviewed the cost comparison he decided it was time to make a change.
This reminds me of a sign I saw in a local business. “The bitterness of poor quality lasts long past the sweetness of low price has worn off.”