Tax strategy “influencers” - can they deliver on their promises?
PSA for my wanna-be tax professionals.
Don’t be fooled by “tax influencers” who take your money without providing value in return.
There are a growing number of them selling programs & platforms that claim to teach “tax strategies to save your clients THOUSANDS” and similar.
On the outside, there’s no shortage of hype about your expected high fees from using the techniques you’ll learn.
But once you pay $$ to get in….
👉 Green-light strategies that are commonly known and widely used. You didn’t need the equivalent of glorified, high-priced continuing education to teach you these.
👉 Yellow-light strategies that may expose you & your client to more risk & administrative headache than they’re worth. And the course may not make it clear that these strategies ARE murky waters.
👉 Red-light strategies that are off limits for any above-board taxpayer and tax pro.
👉 One-time course fees that are challenging to get refunded if you didn’t find value.
👉 Recurring fees that are hard to cancel.
If THESE options are sometimes dubious for learning about taxes, how CAN you?
Study for and take the Enrolled Agent exam. You’ll learn about individual & business tax + how to stay on the IRS’ good side.
Spend a tax season or more working for a reputable tax firm. It’s an employees’ market - you might be surprised at what opportunities are out there.
Find an area of tax that interests you and explore - follow the (actual) experts on social media, sign up for continuing education - some of which is both quality AND free, read related AICPA Tax Advisor articles, join a tax-related organization such as the National Assoc of Tax Professionals, etc.
As someone who’s practiced tax a long time, sees the shortage of fellow professionals, and loathes gatekeeping - I am 💯 for programs that can quickly & accurately teach tax to those wanting to work in this field.
Alas, some of these “programs” are not it.
I am concerned that these “influencers” are preying on individuals with little-to-no tax knowledge, claiming to be able to teach them in a few short sessions what it can take years of on-the-job exposure to truly understand and execute. I am concerned that folks are paying significant $$ to ultimately be able to use few, if any, of the “techniques” in their own client base.
At best you’re paying top dollar for CPE you can likely get less expensively from a more reputable source. At worst, you’re being fed bogus tax strategies that will increase your clients’ exposure or waste their time & money.
