Today I wanted to write about the onslaught of calls I have been getting from clients who listen to a podcast that presents some amazing tax plans to avoid paying taxes. I always welcome ideas and discussions about tax and cash flow strategies, bring it on and let’s learn together.
However, some of the plans I hear suggested make absolutely no sense for a small business owner. My clients are then so disappointed when I explain to them why the plan won’t work for them or about the fine print of the details. Now some of these podcast hosts and their plans they suggest are absolutely legitimate and valuable but many many many are simplified versions of plans that will never work for small business owners.
My message here is not to avoid podcasts BUT rather to be discerning about the host AND be skeptical, if it sounds too good to be true, it likely is.
Let’s keep having these conversations and weed out the real advice from the fanciful too cool for school advice.