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By Stephen J. Kahn, CPA

Your tax return serves as a window into the rest of your financial matters. Since most financial dealings are tax-related, they should be reviewed with taxes in mind. Even though the tax aspects of your investments shouldnít govern your final decisions, it is best to review the long-term tax considerations before finalizing major transactions.

Your accountant should be used for more than just completing your tax return. To take advantage of all that your accountant can offer, you should visit with him or her several times during the year. This will allow you to discuss tax and other financial matters when your accountant is not buried in tax returns.

Most taxpayers are concerned about income taxes. But did you know that your accountant could also: 

  • Help you select the best way to build college funds for your children. 
  • Tell you the best assets to gift to children or to charity. 
  • Suggest the best approach to use in applying for a bank loan. 
  • Help you plan for retirement so that you donít retire broke. 
  • Sort through the issues relating to any major financial decision. 
If you only see your accountant at tax return filing time, the most he or she can do for you is record the history of your transactions. But most of the financial impact, both tax and non-tax, were determined when the transaction took place. If you want the most for the fees you will be paying, let your accountant in on matters before they happen.

If you would like to know what an accountant could do for you besides your tax return, call us at 703.370.0019. We will be happy to discuss what other benefits we can offer. 

(Stephen J. Kahn is a Certified Public Accountant and an Alexandria resident. The reader is cautioned that this information may not be applicable to the readerís specific circumstances or needs. The reader should contact a tax professional prior to taking any action based upon this information. Stephen J. Kahn, CPA assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information herein.) 




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Alexandria, VA 22314