23 Excuses For Not Exploring Better Tax Advisory...and Why You're Wrong.

We have heard it all. All the excuses people make for not getting better advice when it comes to their taxes.

We get it. You're busy, you want to trust the people around you, change is scary, resources are tight, etc., but taxes are likely your single biggest expense, and they deserve more attention.

Here are 23 of our favorites, and a counterargument for each. Many of them will probably look familiar.

"We already have a tax advisor."
Sure, most people do, but ask yourself, who's driving the relationship? Are you getting proactive direction, or are you the one asking questions and posing ideas? How often do you meet? If you're not meeting at least quarterly, you are missing opportunities.
"We're too busy right now."
Too busy to save money and improve cash flow? Perhaps solving your cash flow problems could free up some of your valuable time.
"We're happy with our current tax strategy."
Define "happy"? Are you happy that they are getting done, or are you happy with your strategy, or do you have a strategy at all?
"We don’t need additional services."
Don't think of it as additional. Think of it as integrating, or filling in gaps in your plan; gaps are missed opportunities, and you (and your CPA) might not even know they are there.
"It’s not a priority for us right now."
At the risk of being blunt, it should be. It's your money.
"I don’t think we need more than basic tax filing."
This is a classic mistake. How do you know unless you do some exploration? Every business, every state, every situation has unique factors that can be advantageous. The cost of assuming you can't do better is massive.
"We don’t have the time to implement complex strategies."
You shouldn't need any time. Your tax advisor should be a value-added service that works for you and delivers on your behalf. If you're feeling like taxes are a heavy lift, you should probably evaluate your relationships.
"We’re too small for tax advisory services."
The truth is, for the large firms, you probably are. But that doesn't mean there aren't places where you can get big firm service and big firm results. You're business isn't small to you is it?
"We’ve been successful without outside help."
Maybe you have been - but what if you could do BETTER? Isn't that worth at least exploring?
"We only need help at tax time."
If this is how you're approaching your taxes, it's reactive, rushed planning. Unfortunately, this is the norm, and it's costing businesses dearly. For example, just paying your quarterly estimated payments without review is a very poor strategy. Planning year-round is where significant savings and strategy come from.
"I don’t understand the value of tax advisory services."
Here's one way to look at it. A tax advisor doesn’t just collect your documents and file your taxes; they help guide your business’s short and long-term strategy to reduce liabilities and make smarter decisions. They look at the whole picture – from cash flow management to asset protection.
"We can handle taxes internally."
Even if you can, why would you? This is a costly approach from both an actual cost perspective as well as the opportunity cost that a lack of expertise in complex tax strategies and holistic financial planning creates. What do they say about attorneys who represent themselves?
"We already have a CPA."
Most of our clients do. However, in our experience, CPAs have challenges from a time perspective (managing many clients) as well as expertise. Their focus is on compliance and filing, not strategy.
"We’re not looking to make changes right now."
Most people feel that way; however, reducing your taxes is your responsibility. It's not going to happen unless you make the effort to explore your options.
"It seems complicated."
It shouldn't be. A good tax advisor should be able to work off of your goals and documentation to develop a plan that makes sense without asking for too much from you. They should handle the complexity, not you.
"We’re in a stable position; we don’t need to plan ahead."
Stability is great, but tax laws change regularly, and new opportunities arise. Planning ahead ensures you can capitalize on these changes and minimize risk.
"I’m happy with the status quo."
That’s perfectly understandable, but also a common trap people fall into. The status quo is likely costing you in the short term and significantly in the longer term.
"I’m not sure how you would add value."
By taking a holistic view of your business, analyzing your cash flow, assets, and liabilities, identifying tax-saving opportunities you may not be aware of, and ultimately freeing up more resources for growth.
"We have everything under control."
Ask yourself, do you feel this way because you believe it or because your CPA says so?
"We’ve been using the same strategy for years."
And you're probably getting the same results. Isn't it worth exploring whether you could do better?
"We’ve been through tax audits before."
And it was almost certainly a terrible experience. A little investment in strategy can help prevent an audit from happening again.
"I don’t want to deal with complicated paperwork."
And you shouldn't. Your team should handle all the complex paperwork for you.
"We don’t need tax-saving strategies right now."
Yes, you do. If you could reduce your taxes, why wouldn't you?