Why aren’t more veterans using the benefits they’ve earned? Part of the problem is awareness, and part of it is discomfort (for both veterans and advisors). After all, veteran benefits are rooted in service-connected health and trauma, placing them in a category that often feels more personal than financial. That alone can deter veterans from discussing their disability compensation and keep advisors from broaching the subject altogether. The result is financial plans that look optimized on paper but are built on incomplete assumptions and missed opportunities – opportunities that have been more than earned.
Lessons Learned from the Tax Court: An Olive Branch in Tax Court
Matt Metras, EA
“Everything is deductible until the audit” is an adage frequently repeated in the tax preparation industry. Generally, it’s mentioned tongue-in-cheek, but today’s taxpayer (and her tax pro boyfriend) may have taken it a bit too literally. Additionally, cutting corners may seem like a time-saving strategy in the moment, but the potential to backfire can’t be ignored. In this case, the taxpayer is about to learn things the hard way.
