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re: Another Tax Question: Can a CPA "Work Magic" compared to TurboTax
Posted on 2/12/13 at 3:51 pm to GaryMyMan
Posted on 2/12/13 at 3:51 pm to GaryMyMan
TurboTax asks questions that have yes or no answers that lead to specific reporting of information. However, the answers to the questions it asks are often a yes, but... instead of a definitive yes. And following the but... will frequently lead to a better result.
Those yes or no answers also treat the tax code as if everything is a black or white. The complexity of our tax code leave many grey areas where the right answer is open to interpretation, and TurboTax doesn't care about interpretations. A good CPA cares about little else as he looks for opportunities for tax savings. The value of a CPA comes from his knowledge of the tax code and how to apply facts and circumstances favorably for his clients. You get none of that from TurboTax or any other tax return software.
Those yes or no answers also treat the tax code as if everything is a black or white. The complexity of our tax code leave many grey areas where the right answer is open to interpretation, and TurboTax doesn't care about interpretations. A good CPA cares about little else as he looks for opportunities for tax savings. The value of a CPA comes from his knowledge of the tax code and how to apply facts and circumstances favorably for his clients. You get none of that from TurboTax or any other tax return software.
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