Donations Spark Litigation

How much can you really trust your tax advisor? Sure, you might think the person giving you tax help is on your side, but that’s not always the case. Having an untrustworthy tax advisor and/or dealing with less than legitimate financial maneuvers isn’t a problem that affects only average, everyday people; it’s a problem that affects even the most high-up officials. That’s why Mayor William Lantigua is currently being sued by the state of Massachusetts. The state alleges that Lantigua and his campaign officials violated fundraising policies from 2008 onward.

While the state has brought several allegations against the Mayor, some of the major violations include accepting illegal contributions, keeping poor records, and forcing public employees to ask for and then accept illegal donations. If this can happen to such a high-profile professional, it can happen to any Naperville resident, which is why it’s so important to work with only the most trustworthy financial professionals, such as the ones found at Susan S. Lewis and Associates.

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Is Your Financial Advisor Looking Out for You?

When you visit a tax advisor for tax help and advice, you probably just assume that the person you’re working with has your best interests at heart. While it might seem like that should be the case, it isn’t always. In fact, unless your tax advisor can legally be termed a “fiduciary,” he or she is under no legal option to put what’s best for you ahead of what’s best for him or her! Hopefully, that will change in the near future, since the Labor Department and the Securities and Exchange Commission are both pushing for more and more types of finance professionals, including those who offer basic tax help, to fall into the fiduciary category and to thus be held to the same standards of those who currently uphold the title.

Really, though, what’s in a name? The trick isn’t so much to choose financial advisors with the “fiduciary” title as it is to find advisors with strong reputations in your community. A great example of such an advising firm in Naperville is Susan S. Lewis, Ltd.

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Credit Scores Matter

You probably already know that you have a credit score, and you probably already know that this credit score is used to make a number of decisions regarding your finances. While you might not be aware of what your actual credit score is, you should understand the major impact that score can have on your life. If your credit score is bad, you may have to pay higher prices for car insurance. You may also have trouble securing any kind of credit or financing, and bad credit scores can even make you ineligible for certain jobs and opportunities.

Knowledge is power, so the first step is to know what your credit score is. You can get your credit score for free online—any reputable tax advisor can show you how. A good tax advisor can also help you to understand your credit score and whether it’s good, bad, or average. And, in addition to providing regular tax help, an accountant can also help you to develop an easy-to-follow, workable plan for improving your credit score a little at a time.

If you think your credit score might be negatively affecting you or if you’re just curious to see what your credit score is, contact Susan S. Lewis, Ltd. in Naperville.

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