An investment adviser representative is preparing a comprehensive investment plan for a customer. After completing the plan, the representative finds out that, unless precautions are taken, implementation of the plan could have severe tax consequences for the client. The first step that the investment adviser representative should take is to:

Refer the client to a tax consultant for proper review.

Explanation:

A tax consultant is saddled with the responsibility of preparing tax returns and also give professional advice to clients inorder to ensure that minimum tax liability is paid. They are experts in tax matters hence know tax laws and are able to give advise on means to minimize tax obligations without breaching IRS or state tax rules.

With regards to the above, the first point of duty is to refer the client to a tax consultant for proper review and professional advice inorder to avoid the client having severe tax consequencies.

answer; im thinking the correct answer is (7years);

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