If your cpa give you bad advice which costs you 25,000.00 do you have any recourse, to obtain that 25,000.00
2007-06-25 08:11:03 · 3 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment ➔ Law & Legal
It really depends. Was he negligent? Did he break his fiduciary responsibility? Was the 25,000 loss a direct result of his advice or was the loss due to a policy or market change? Basically, there is no clear answer, but you can always sue even if you won't win. The best advice is to talk to a trusted lawyer and see if you have a case.
2007-06-25 10:57:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can try and recover through suing your CPA, but the burden of proof will require that you received more than bad advice.
If your CPA told you that a specific expense would be tax deductible, and they were clearly wrong in their advice and should have known better then they have not lived up to their professional responsibility and you may well be able to recover your losses.
If on the other hand your CPA reviewed a business that you were considering purchasing and they told you in their opinion it was a solid company and it later turned out that they were wrong you would need to prove that they should have known the company was not solid, a much more difficult burden of proof.
2007-06-25 08:27:59 · answer #2 · answered by Highlandbound 6 · 2⤊ 0⤋
Yes, you can sue him.
2007-06-25 08:14:28 · answer #3 · answered by regerugged 7 · 0⤊ 1⤋