Have a Tax Question? Ask a Tax Expert
Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.
Are you license as an accountant or anything like that?
If there was a problem, it would be a problem for the guy who is paying you.
What kind of a deal is he offering you?
I'd be more concerned about his fingerprints if I was referring my clients to him.
You know how it works, everything is great as long as everyone is making money.
After they lose? some money with him (its only a matter of time) & they fire him, who are they going to see every year
so you're the one that needs to get comfortable with him & how he operates; you're the one with the clients;
What happens when the first client who you want to refer to him asks you "what's in it for you"
So you need to be real careful before entering into a deal with anyone involving referral fees; I'm not saying absolutely don't do it; I'm saying think in through in terms of your clients & what you're comfortable with; just don't jeopardize your livelihood for some referral fees that may or may not materialize;
I never did it, despite constant offers & when CPAs finally were allowed to sell products and I may have not made the quick bucks that some of my peers did, but when the market went South, I was still sleeping at night & I didn't spend all day on the phone listening to irate clients.
I hope that just gives you some food for thought; obviously you have to make your own decision...............
I appreciate your advice