Padding Deductions? Clients Need to be Warned

Drawing of unhappy face and arrow pointing from it to happy faceSome critical clarifications.

By Barry J. Friedman, CPA

“In this world, nothing can be said to be certain, except death and taxes” is a quote often attributed to Benjamin Franklin. With that in mind, it’s best to be prepared, at least financially, for taxes and tax season each year.

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The Risks

When it comes to deductions, things can get a little sticky. What’s the harm in taking a little extra here or a little extra there?