PENNY WISE AND POUND FOOLISH

Penny Wise and Pound FoolishThe phrase penny wise and pound foolish is approximately 500 years old and originated in England. An English penny is worth 1/100th of a pound. An English pound is currently worth $1.32. This phrase refers to saving pennies and the result is losing Sterling pounds. This can result from bad investments, driving miles to save a few cents or spending more time doing an activity than it is worth.

Many of us have been guilty of this behavior. We may try to save money doing something ourselves that is more economical to pay someone else to do. One prime example of this is when someone spends significant time doing their taxes when paying  a professional would have saved them time and money.

Think about it. How much more money could you be making taking care of business than combing through all the tax changes for 2018? How much more time could you have if you handed your taxes over to a CPA? What if your financial planning were done by a CPA who understood all the tax consequences?

Les Merritt is a CPA and Certified Financial Planner (CFP) and can help you to prepare your taxes and your investments to use your money in profitable ways. Although you will not file your taxes for some months, this is the time to begin working with a professional like Les. He and his staff can begin preparing your documents. They can also advise you of changes you can make in this fourth quarter to limit your tax liability.

Or you can go it alone.

Contact Les Merritt today. Call (919) 269-8553 today to set an appointment. Get the ball rolling and don’t be penny wise and pound foolish. Let Les Merritt and his staff enable you to make better use of your time and save money.

Updated: October 15, 2018 — 1:36 pm
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