When it is worth asking for tax advice

The short answer: before, not after. The moments where a short conversation changes the most, and the ones where it is already too late.

Two people reviewing documents at a bright meeting table

Most people ask for tax advice after they have signed something. That is the worst possible moment, because at that point we are not advising, we are repairing.

The cost difference between the two is usually tenfold. Not because the fee is higher, but because the options have closed.

The moments worth a conversation

  • Before the first large contract, or one paid in instalments.
  • When you start working with partners abroad.
  • When you change the legal form or the structure of the company.
  • Before taking money out of the company, in any form.
  • When an opportunity appears that looks nothing like what you have done before.

You do not need to know what to ask. You just need to call before you sign.

What a useful conversation looks like

It does not take long and needs no preparation. You tell us what you intend to do, we ask a few questions, we tell you what we see. Sometimes the conclusion is “do exactly what you planned”. That is a good outcome.

When it is already late

After the signature, after the payment, after a filing has gone in. In many situations something can still be done, but with more effort and a worse result than if we had spoken a week earlier.

If you are already there, do not put it off out of embarrassment. We see it often, and the useful answer is still a conversation.

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Mihaela Neacsu, chartered accountant, at the Lexco Expert office in Iasi, with the Palace of Culture through the window

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