Hidden Cash Uncovered: Tax Tales, Tips, and Truths That Could Save You Thousands
Christian Bishop CFP, EA
FLEXAT Publishing (2022)
Reviewed by Paige Lovitt for Reader Views (11/2022)
Christian Bishop, who is a Certified Financial Planner and an Enrolled Agent, is the author of “Hidden Cash Uncovered: Tax Tales, Tips, and Truths That Could Save You Thousands.” He refers to it as a tax-mentality book, not a tax code book.
Instead of overwhelming us with tax code, Bishop teaches us how to look for ways in which we can legally save money on taxes. In addition to providing easily understandable definitions of terms, he also illustrates his points with actual case studies. Arranged in short stories, readers can look for topics that apply to their personal needs. It addresses every phase of adulthood, from college years to retirement. I personally enjoyed reading it the whole way through, because I was astounded at the often-overlooked ways in which taxpayers can save money. Having read it, I plan on going back and using it as a reference. I also appreciate how well the information is organized. He selects important topics and then breaks them down in a concise manner with definitions, examples, and case studies. I believe readers will find it interesting and easy to follow.
Having worked in Collections at the IRS, as a young adult, I was often saddened when I had to deal with taxpayers that got themselves into trouble due to lack of knowledge. The penalties and interest are often excessive. I understand the importance of hiring a tax professional to avoid these problems. In addition to hiring a tax professional, Bishop’s book demonstrates the importance of using a certified tax planner. This not only helps you avoid getting into trouble with the IRS, but you also will learn how to legally save money. For me, this is especially important in regards to retirement, because I am rapidly approaching that stage in my life.
I found the discussion about accountants to be relatable. For years, I had an accountant who did more than just collect my information and file my taxes. He provided me with a great deal of tips and advice. After he sold his practice and retired, I noticed that my new accountant just had me upload my documents and sent me my returns to sign. This has left me feeling as if I could be missing out on some very important information. I hope to find a new accountant that will be more “old school.” I feel excited about looking into ways that I can better invest my money so that I feel more secure and be able to enjoy being retired.
Readers of all ages must read “Hidden Cash Uncovered.” The sooner the better. I recommend giving this book as a gift to everyone. If you only have time to read one book this year, it must be, “Hidden Cash Uncovered: Tax Tales, Tips, and Truths That Could Save You Thousands.”