I started with Rick Schwartz over 20 years ago when he was just starting out. In those days he came to my apartment in Boston an did my taxes there.
Over the years his company has grown into a large business.
Every year I would come in meet with him for an hour, and he would just plug the information into his program, which was not too difficult, as not much changed for me from year to year.
I would joke with friends that I could just get a turbo tax program and enter the data myself.
This year, with the new tax laws, I contacted him a few times to ask questions about structuring my business differently.
Knowing that I would soon be inheriting some commercial real estate that would dwarf my current income, I started asking questions about how to best take advantage of the changes as they applied to the small amount of rental property that I already owned.
My family had been encouraging me to switch to someone else who focused more on real estate, but I stuck with Rick out of loyalty.
I did schedule a consult with a large Boston firm to get some advice about this subject, fully intending to stick with Rick.
However, today I emailed him to remind him to put my taxes on extension, he replied by telling me that I needed to find a new accountant.
I was shocked that this is the way he treated me, after over 20 years, just because I questioned him about ways to adapt to the changes in the tax laws.
Apparently he just wants to have clients who don’t ask questions and are content to just have him plug in numbers and charge over $700 for that hour of work.
He obviously cannot handle anything more complex, and also he has no sense of loyalty towards long term clients.
He’s just in it to maximize his profits with no regard to the people he serves.
I guess my family is right in suggesting that I hire a real accountant.