Friday, January 2, 2009


During the next three and 1/2 months – the traditional tax filing season – you will be bombarded with free tax advice from the various media. My clients are constantly including cut-out articles from newspapers and magazines with the tax “stuff” they give me.

You will also no doubt be getting unsolicited tax advice from your brother-in-law, your cousin Manny, your auto mechanic, your insurance broker, and various and sundry neighbors and co-workers.

It is very important that you understand that the value of any tax advice, strategy or technique depends on the specific “facts and circumstances” of your individual situation. Some advice may apply to you and some may not.

It is also very important that you understand when it comes to federal and state income taxes your brother-in-law, cousin, auto mechanic, insurance broker, neighbors and co-workers most likely don’t know their arse from a hole in the ground!

Because of this it is vital that before you act on any free advice you read about in a newspaper or magazine, see mentioned on tv or the radio, or receive from a friend, relative or co-worker you consult a competent tax professional.

You will not receive any more important tax advice than this during the coming season - or at any time during the year!



Anonymous said...

Perfectly said

Anonymous said...

Given the SEC roadmap for the integrations of IFRS, what are your thoughts on the looming tax implications of IFRS? I have been reading what I can at I but I would like to know what you think.

Robert D Flach said...


I am honored that you would want my opinion on this subject.

However, at this time of the year if it doesn't concern the preparation of 2008 returns or 2009 tax issues I have no time to deal with it.

You are welcome to "re-ask" me after April.



Anonymous said...

Very sound advice!