Fraudulent Accountant
I had a long-standing relationship with this accountant — he handled my personal taxes for years before I started my business. When I launched a business in New Jersey, I trusted him to help manage my business finances based on that history.
That trust was a costly mistake.
He never informed me that I was required to file and pay an annual report with the State of New Jersey each year — a fundamental compliance requirement for any NJ business. This oversight created serious complications when it came time to close my business, costing me significant time and money.
I also received no help with expense management, bookkeeping, or financial statements, and was left to handle everything myself.
If he was unfamiliar with New Jersey business regulations, the professional thing to do would have been to say so and refer me to someone qualified to help. He never did.
I would strongly caution any business owner against relying on this accountant for anything beyond basic tax preparation.