One of the questions that Rob Burnette, CEO, investment advisor representative and professional tax preparer at Outlook Financial Center in Ohio, asks his clients when they are discussing how to spend a windfall is "If you pay off that debt, what would it do for you?”
“The IRS has several different ways [to put a halt on] your taxes, and that’s what some people call a hardship,” Rob Burnette, investment advisor and tax preparer at Outlook Financial Center in Troy, Ohio, told The Post. “It allows you to dodge the IRS fairly quickly.”
“I’m buried already, and it’s a good thing,” said Rob Burnette, CEO at Outlook Financial Center in Troy.
Rob Burnette, financial advisor and registered tax preparer at Outlook Financial Center stated that the most common scenario where this question comes into play is when the child has a part-time job while in school.
At CNBC Select, we work with experts who have specialized knowledge and authority based on relevant training and/or experience. For this story, we interviewed Rob Burnette, investment advisor and professional tax preparer at Outlook Financial Center.
Even if you use tax preparation software, be vigilant, says Rob Burnette, an investment advisor and tax preparer at Outlook Financial Center in Troy, Ohio.