❌ Tax Mistake #5: Putting It All on Your Tax Preparer

As an Adult Foster Home (AFH) owner, you probably rely on a tax preparer to handle your taxes. But here’s the truth: your tax preparer can only work with the information you provide—and if your records are incomplete or inaccurate, you could be missing out on deductions or making costly mistakes.

Your tax preparer’s job is to file your taxes, not to track every income source or ensure all your expenses are properly categorized—that’s on you!

🚨 Why This Mistake Could Be Costing You

If you dump a box of receipts on your tax preparer at the last minute or provide incomplete records, here’s what can happen:

❌ Missed deductions – If you don’t track your business expenses properly, your preparer won’t know what to deduct.

❌ Overreported income – Some Medicaid waiver payments may be tax-free, but if you don’t flag them, your preparer might treat them as taxable.

❌ Increased audit risk – Errors in classification, missing receipts, or disorganized finances can trigger IRS scrutiny.

Your tax preparer is there to help, but they aren’t mind readers!

💡 Quick Tip: Stay Involved in Your Finances Year-Round

To make sure your tax preparer does their best work, you need to be proactive in tracking your financials. Here’s how:

✔️ Keep detailed records of income and expenses throughout the year.

✔️ Use a bookkeeping system (whether an app, spreadsheet, or accountant) to stay organized.

✔️ Review your tax return before filing – double-check income classifications and deductions.

✔️ Ask questions – Don’t assume your tax preparer knows everything about AFH-specific deductions!

The more organized and informed you are, the more your tax preparer can help you save money and avoid mistakes.

✅ Get My Free Guide: Maximize Your Tax Savings!

Leaving everything to your tax preparer is just one of the biggest tax mistakes AFH owners make. To help you stay on top of your finances, I’ve created a free guide just for you:

📥 Download “Top 5 Tax Mistakes AFH Owners Make & How to Avoid Them”

Inside, you’ll learn:

✅ The most common tax mistakes AFH owners make

✅ How to stay organized year-round and avoid last-minute stress

✅ How to work effectively with your tax preparer to maximize savings

💬 Need help getting started? Let’s talk!

👉 Download the free guide here!

It’s your money—be proactive! A little effort throughout the year can save you thousands in taxes and keep your finances stress-free.