Introduction: The Accountant Dilemma (is your accountant costing you money)
Most business owners assume their accountant is doing everything possible to save them money on taxes. After all, they:
✅ File everything on time.
✅ Keep them compliant.
✅ Have never gotten them audited.
But what if I told you that your accountant is actually costing you money every single year—without you even realizing it?
The truth is, most accountants are reactive—they handle compliance and tax filing, but they don’t actively work to lower your tax bill.
If you’re a business owner generating $500K+ in revenue, you need more than compliance—you need strategy.
And the only way to know if your accountant is actually saving you money is to ask these five game-changing questions.
1. How Often Do We Meet to Reduce My Taxes?
If your accountant says: “Once or twice a year,” you’re overpaying.
Most accountants only meet at tax time, when it’s too late to implement game-changing tax strategies. They give you a few last-minute ideas, and that’s it.
An accountant who actually saves you money meets with you quarterly.
Here’s what they do:
✔️ Assess your tax liability in real-time.
✔️ Implement proactive tax strategies BEFORE the end of the year.
✔️ Adjust your approach based on income fluctuations & new opportunities.
If your accountant isn’t doing this, they’re not helping you—they’re costing you.
2. Who Else Is Involved in My Tax Plan?
If they say: “It’s just me,” you’re overpaying.
Most business owners think a single accountant can handle everything. But in reality, the tax code is too complex for one person to master.
A wealth-building accountant works with a team, including:
✔️ Registered Investment Advisors (RIAs) – for tax-efficient investments.
✔️ Tax Attorneys – for advanced legal tax strategies.
✔️ Specialized Tax Experts – for R&D credits, cost segregation, and IRS-approved loopholes.
If your accountant isn’t working with a team, they aren’t giving you access to every possible tax-saving strategy.
3. What Steps Are You Taking to Explore New Tax Strategies?
If they say: “I take CE credits and stay up to date,” you’re overpaying.
Most accountants don’t actively research new strategies—they stick to what they know.
An elite tax strategist is constantly learning, testing, and implementing new methods.
✔️ Attends top-tier tax planning conferences.
✔️ Collaborates with tax attorneys on new IRS-approved strategies.
✔️ Explores the latest tax law changes and loopholes.
If your accountant isn’t bringing NEW tax-saving ideas to you each year, they’re leaving money on the table.
4. What Role Do Qualified Plans (401ks, IRAs, Defined Benefit Plans) Play in My Tax Strategy?
If they say: “They’re essential,” you’re overpaying.
Most accountants push 401ks and defined benefit plans as the main tax-saving strategy. But here’s the truth:
401ks and IRAs don’t reduce taxes. They just delay them.
A wealth-building accountant knows:
✔️ 401ks and IRAs are only one tool, not the ultimate solution.
✔️ Tax-efficient wealth-building strategies like Private Placement Life Insurance (PPLI) often provide more flexibility and better tax advantages.
✔️ There are better ways to reduce taxes TODAY, not just delay them until retirement.
If your accountant relies too much on retirement plans, they aren’t giving you the full picture.
5. How Do You Help Clients Mitigate Capital Gains Taxes?
If they say: “Making money means paying more taxes,” you’re overpaying.
Most accountants believe capital gains taxes are unavoidable. They don’t plan ahead—they just tell you to set aside money for taxes.
A wealth-building accountant creates a proactive tax strategy, including:
✔️ Private Family Foundations – for tax-efficient charitable giving.
✔️ Qualified Opportunity Zones – to defer and eliminate capital gains.
✔️ Private Placement Life Insurance (PPLI) – for tax-free investment growth.
✔️ Strategic charitable donations – to offset gains with deductions.
If your accountant isn’t planning years ahead for your business sale or investments, you’ll pay way more than you need to.
The Bottom Line: Is Your Accountant COSTING You Money?
If your accountant only meets at tax time, works alone, and gives you the same basic strategies every year… you’re overpaying.
Most business owners assume their accountant is doing the right thinghttps://justindmaxwell.com/blog/tax-planning-strategy-soccer-lesson/s because:
✅ They’re a nice person.
✅ They do great work.
✅ They’ve never gotten them audited.
But none of that means they’re actually saving you money.
If your accountant is an Owner-Operator (reactive, solo, outdated), they’re costing you thousands every year.
If your accountant is an Owner-Investor (proactive, team-based, strategy-focused), they’re helping you build wealth.
Want the Full List of 20 Must-Ask Questions?
I put together a powerful checklist of 20 game-changing questions to uncover whether your accountant is actually helping or hurting you.
Grab your free copy here: https://www.biglifefinancial.com/20questions
If you’re serious about building real wealth, the right accountant is non-negotiable. Don’t wait until tax season to realize you’re overpaying.