Ask Terry Questions Tax preparation

Tax preparation

By Terry Savage on November 04, 2023 | Taxes & Economy

How can I find a trusted CPA to prepare my taxes this year now that I’m using Fidelity to manage my investments. They’ve recommended that I get a CPA this year because they’re doing a significant number of trades to reduce my taxes.

Terry Says

That’s a tough one to answer. Most people get their CPAs through a referral from a friend, I’ve found. But you might want to read this article from Wirecutter about finding a CPA.
Another good place to ask is your local bank.

One other thing comes to mind about your question. Fidelity doesn’t make trades; advisors do! And they may earn a commission on each trade. So what do you know about your advisor who is using Fidelity to run these trades through??
You might want to ask what you’re paying in fees, and how much additinal in commissions for these tax changes. And of course, there are no tax-reducing trades inside IRAs!



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