Sunday, March 31, 2013

10 things financial advisers won’t say

  1. “We’re your biggest advocate, except when we’re not.”
  2. "What we charge is all over the map.”
  3. “Your future looks bright, according to our software.”
  4. “There’s no easy way to judge our stock-picking performance...”
  5. “...But we’re tops at raking in the dough.”
  6. “We get paid by mutual-fund companies…”
  7. “…And the loan departments of banks.”
  8. “You read our disclosures, right?”
  9. “We put more initials after our names than crown princes do.”
  10. “You want to sue us? That is so cute.”

Thursday, March 21, 2013

12 tax audit red flags

While I don't think #2 is a red flag per se, I pretty much agree these are some of the areas that can cause an IRS audit.  But how the IRS selects tax returns for audit is a well kept secret.  Nobody really knows.
  1. You have foreign assets
  2. Your ex wants revenge
  3. Your return has too many zeroes
  4. You have a home office
  5. You forgot some income
  6. You claim fishy deductions
  7. You're rich
  8. You say the wrong things
  9. You do a lot of 'work-related' driving
  10. You exaggerate donations  
  11. You own a money-losing business 
  12. You have a shady tax preparer