Mike Milligan explains why CPAs can't do proactive tax planning: they're forced to charge rock-bottom fees for tax prep, leaving no time for strategy. The real planning window is the year before you file. H&R Block and TurboTax crushed the market for anything else.
The best time to do tax planning is before you file your return, the year before it happens. Again, they're great people. They just— and if you asked all the CPAs, they would love to do more tax planning. The problem is, is the volume of clients, because what we demand that they— we pay for tax preparation is so low. H&R Block, TurboTax, all these companies have driven down The price of tax preparation is so low. The IRS has made it so complicated. I remember my mom and dad sitting around the table in March and April filling out form, like the short— they used to call it the short form, filling it out, right? And they would mail— they would go to the post office, get the paper, they'd bring the booklet back, they would read it, they would fill it out. That's how easy taxes were back in the '80s. Now nobody can do that, right? And these people have driven down the price so much that CPAs would love to tax plan, they just can't.
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
