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re: Another Tax Question: Can a CPA "Work Magic" compared to TurboTax
Posted on 2/12/13 at 4:46 pm to LSUTIGERS74
Posted on 2/12/13 at 4:46 pm to LSUTIGERS74
quote:Ouch, you were hosed. Let's assume you were in the 25% tax bracket last year. That $1,260 of CPA fees means the CPA would have had to find $5,000 of deductions that you were unaware of to jusitfy his cost. That is pretty unrealistic. But what if he charged you $250 and found $1,000 of additional deductions? Would you have considered it reasonable to break even?
Ended up costing my $1260 to have CPA do the exact same thing Dad does for me thru Turbotax. Biggest ripoff I think I have ever witnessed.
quote:The CPA you used was interested in the facts (the spreadsheet you submitted with expenses you paid), but he ignored the circumstances that influenced why you paid those expenses. And the circumstances are critical for determining whether the expenses were deductible. He should have asked you numerous questions once you gave him the spreadsheet to try and estabish circumstances justifying deductions for your expenses.
He didn't really ask questions just asked for us to submit a spreadsheet with our expenses and that was it. I guess I was expecting a bunch of advice...didnt happen. Tried to get the bill reduced and that was a no-go.
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