1.0BMC Accounting Webhttps://www.bmcaccounting.com.aurich600338<blockquote class="wp-embedded-content"><a href="https://www.bmcaccounting.com.au/latest-news/biggest-mistakes-seen-29-years-tax-practice/">The Biggest Mistakes I have seen in 29 Years of tax practice</a></blockquote> <script type='text/javascript'> <!--//--><![CDATA[//><!-- /*! This file is auto-generated */ !function(d,l){"use strict";var e=!1,o=!1;if(l.querySelector)if(d.addEventListener)e=!0;if(d.wp=d.wp||{},!d.wp.receiveEmbedMessage)if(d.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!/[^a-zA-Z0-9]/.test(t.secret)){var r,a,i,s,n,o=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),c=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]');for(r=0;r<c.length;r++)c[r].style.display="none";for(r=0;r<o.length;r++)if(a=o[r],e.source===a.contentWindow){if(a.removeAttribute("style"),"height"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;a.height=i}if("link"===t.message)if(s=l.createElement("a"),n=l.createElement("a"),s.href=a.getAttribute("src"),n.href=t.value,n.host===s.host)if(l.activeElement===a)d.top.location.href=t.value}}},e)d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",t,!1),d.addEventListener("load",t,!1);function t(){if(!o){o=!0;var e,t,r,a,i=-1!==navigator.appVersion.indexOf("MSIE 10"),s=!!navigator.userAgent.match(/Trident.*rv:11\./),n=l.querySelectorAll("iframe.wp-embedded-content");for(t=0;t<n.length;t++){if(!(r=n[t]).getAttribute("data-secret"))a=Math.random().toString(36).substr(2,10),r.src+="#?secret="+a,r.setAttribute("data-secret",a);if(i||s)(e=r.cloneNode(!0)).removeAttribute("security"),r.parentNode.replaceChild(e,r)}}}}(window,document); //--><!]]> </script><iframe sandbox="allow-scripts" security="restricted" src="https://www.bmcaccounting.com.au/latest-news/biggest-mistakes-seen-29-years-tax-practice/embed/" width="600" height="338" title="“The Biggest Mistakes I have seen in 29 Years of tax practice” — BMC Accounting Web" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe>I have seen many mistakes clients have made in taxation, work and investment decisions. The measure of a mistake is obviously its cost. That said, the cost of a mistake is not always obvious. I have made a list of the things I believe are the worst mistakes, and perhaps surprisingly they have little to do with filling out a tax form. Firstly and possible the most fundamental: Don’t make decisions based on tax. Financial decisions need to be made based on the best outcome. If you make decisions based on the tax outcome, you are most likely choosing to lose money. Advertised tax schemes are typically based on loss making projects. Many are targeted to higher income clients, especially […]