Small Business Digest Header Icon   •    •    •    •    •    •    •  
Small Business Digest


  
    July-2017
 
HOME CURRENT ISSUE SUBSCRIBE FREE RSS NEWS FEED SAMPLE NEWSLETTER BUSINESS RADIO ARCHIVES
 
   

Don't Blame The Accountant; Have A Financial Plan In Place

We all know that pro footballers enjoy high profiles in society, so they tend to make headlines when they misbehave. So, it's no surprise that former Kansas City Chiefs quarterback, Joe Bruner, made headlines when he was sentenced for battery. The real surprise here is just who Bruner assaulted - namely, his accountant!  

Bruner joined the Chiefs in 1976 after playing quarterback for Northeast Louisiana State University. After his pro career ended, he wound up back in his childhood home of northwest Florida, where he eventually wound up owning a local water-park called "Big Kahuna's" in Destin. While Bruner may have delighted his customers, he apparently didn't delight the accountants who helped him manage his business.  

Bruner's accountant, Wayne Montgomery, testified that Bruner punched him in the eye, pushed him face down into a recliner, and hit him repeatedly in the head, neck, and back at a meeting at Bruner's house.  Bruner was apparently "upset" with the size of his refund, and accused Montgomery of working for a previous accounting firm that Bruner was suing at the time. Months later, Montgomery reported that Bruner called him at 4:38 a.m., threatening him with the following words: "Battery, battery, battery. You just think battery. Next whipping, I'm giving you real battery. I'm going to destroy you and your property in Alabama and Tennessee."  

Bruner was convicted of felony battery, but was acquitted of retaliating against a witness (sort of like confessing, "I shot the sheriff - but I did not shoot the deputy, oh no..."). Unfortunately for Bruner, this wasn't the first time he fought the law - and this time, the law won. Circuit Court Judge John Brown cited five previous incidents where Bruner faced violence-related charges, then sentenced Bruner to 11 months and 29 days in Okaloosa County Jail. Brown also ordered Bruner to take anger management classes, submit to drug and alcohol tests, give up any weapons in his possession, and avoid contact with his former accountant.  

The obvious lesson here is that hitting your accountant is wrong and won't get you more money from the IRS! The less obvious lesson, of course, is that if Bruner had the right proactive tax plan to save taxes, he might have been happier with his refund in the first place - and therefore wouldn't have lost his temper with his accountant.  

It is important that I integrate your financial planning services with tax planning so that we can minimize the amount of taxes you pay each year.  And just think, when we do this each year, you won't be surprised at tax time and you won't have to risk doing time to minimize your taxes!


© 2017, Information Strategies, Inc.
P.O. Box 315, Ridgefield, NJ 07657
201-242-0600