A lot of parents are very reluctant to share their financial history. They might have a wonderful relationship with their children emotionally, but when it comes to finances, not too many are always ready to talk about that.
More Quotes from Frank Degen:
Always file your tax return on time, even if you don't have the money. The biggest penalty is late filing.Frank Degen
They do it one year and they think maybe no news is good news.
Frank Degen
You can be looking at 25 percent of the tax that is owed, plus all the interest. If you don't pay then the IRS can take some pretty Draconian measures.
Frank Degen
There will some unpleasant surprises and a sense of loss among single parents who have adult children living with them when they file this year.
Frank Degen
I don't want to sound sexist, but it happens a lot. The husband is working off the books and the wife calls the IRS.
Frank Degen
One of the biggest problems I see these days is when the children feel they have a right to an inheritance and a lot of times they want to intervene on their parent's financial behalf before they are ready and willing to do that. I know a lot of lawyers who say the first thing they do is take the parents into a room and ask them if they are ready for this.
Frank Degen
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