Free tax advice may seem benevolent, but beware of the hidden costs it imposes on your firm's growth. Today, we have a remarkable guest who is set to revolutionize the world of tax planning. Meet Dominique Molina, the visionary co-founder and president of the American Institute of Certified Tax Planners. Her mission? To ensure that tax professionals never miss government tax breaks that could save their clients millions of dollars. In this episode, Dominique uncovers the hidden dangers and consequences of giving away free tax advice. She shares her firsthand experience of the potential liabilities that lurk in offering free advice without proper analysis. Dominique also touches on the critical IRS circular 230 rules, revealing the legal responsibilities of tax advisors in providing accurate and well-informed advice. She stresses the importance of protecting not only yourself but also your clients from the risks of misinformation or misinterpretation. Join us as we uncover the dangers and rewards of giving tax advice for free.
The Abundant Accountant: Leads, Sales & Business Growth for Accounting, Tax and Bookkeeping Professionals