There's No Tax Deduction Magic
Updated: Jan 7, 2019
I can’t make tax deductions appear out of thin air.
Trust me, I’d love it if I could - I’d make tons of money. Unfortunately, almost 100% of the time, you have to spend a dollar in order to write off a dollar.
This has pretty profound implications. The main thing is that tax considerations are usually secondary considerations. In any transaction, the #1 priority is making the right financial choice for yourself or for your business. Then I can work with you to make sure we’re maximizing the potential of those dollars you are going to spend. We can do a lot to work with those dollars and save you money, especially if you talk to us before you do the big things.
But, no matter how much some people portray it otherwise, tax isn’t magic. We can only work with what’s real and what has really happened. Avoid problems by getting some guidance before you commit.