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On Accountants (Again)

On Accountants (Again)

By BRAD PALMER

Here I go on accountants again. A few nights ago I watching TV around 4 AM. An ad came on where I woman was sitting at a desk in her office late at night. She was pondering a business problem and was perplexed as to what to do. Finally, she found the answer. A narrator comes on and asks: “Ever wonder where people who have all the answers get all the answers?” The answer is Marcum, an accounting firm. The ad concludes with “at Marcum, we have all the answers”.

And a big set of balls as well.

In one of my previous blogs, I wrote about what to look for in an accountant for your business. Here is what to run from:

1. An accountant who tries to sell you insurance and investments on a commission basis. Anyone selling on a commission basis will generally place his or her own interest ahead of yours. It’s just human nature.

2. An accountant who likes to play lawyer. A lot of accountants cannot seem to understand the distinction between accounting and tax advice and legal advice. If an accountant starts advising you on your rights, duties and obligations, s/he is playing lawyer. Get a real lawyer if you need one.

3. An accountant who claims to be an industry “expert”; very few accountants are an expert on anything, with the one exception perhaps being accounting.

4. An accountant who tries to sell you expensive consulting services. What is s/he consulting on? Is s/he trying to borrow your watch to tell you the time?

5. An accountant who condones tax fraud by understating income and overstating expenses, or who encourages ridiculous positions concerning tax law.

Trust me, if you get audited, the accountant will throw you under the bus.

Oh and by the way, in addition to being a business broker I’m also a C.P.A.

#Accountant #NJBusinessBroker #NJCPA #CrownBusinessBrokers #BradPalmer


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