06 Nov My parents pay my taxes. Should I change CPAs?

Q. This may sound like a strange question. I’m 27. My parents’ accountant has always done my taxes, and my parents have always paid anything I owed. But I want to be responsible for this on my own. The accountant says I should just let them pay. But if he’s doing my taxes I’m the client right? Doesn’t he have to do what I say, including sending me the tax bill?
— Growing up, already

A. Welcome to the world of adulting.

Your situation is not uncommon, as many younger people first begin using their parents’ accountant to do their taxes once they enter the workforce.

We applaud your sense of fiscal responsibility and respect the fact that you want to pay your own taxes.

“At 27 years old, I agree that your parents should no longer be footing your tax bill,” said Matthew DeFelice, a certified financial planner with U.S. Financial Services in Fairfield.

He said the first thing you should do is simply have a conversation with your parents, if you have not done so already.

“Explain to them that while you greatly appreciate all they have done for you, the time has come for you to pay your own taxes,” he said. “If you respectfully but firmly articulate your feelings, I can’t imagine that your parents would not do as you ask.”

However, if that tactic doesn’t work, it may be time for you to find your own accountant, DeFelice said.

“I can’t really fault your parents’ CPA here. You are correct in saying that you are the client, but remember that mom and dad were his clients first – and likely who he will take direction from at the end of the day,” he said.

If the accountant has a long-term relationship with them, the last thing he probably wants to do is take sides against them in a family disagreement over finances, DeFelice said.

“If your parents are telling him that they want to pay your taxes, but you demand he sends you your own tax bill, he is stuck in a difficult spot,” he said. “I am not defending either side in this case, but rather just explaining the reality of the situation.”

So start with your parents and see where things go.

If that doesn’t work, ask colleagues at work or friends your age who they use for their taxes and see if they would be willing to make an introduction, DeFelice said.

“You may be better off finding someone to work with that is closer to your age so you can grow with them throughout your career, and build that same quality relationship it sounds like your parents have with their accountant,” he said.

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This story was originally published on Nov. 6, 2023.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.