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Message
What does your CPA do?
Posted on 10/30/20 at 9:12 am
Posted on 10/30/20 at 9:12 am
I go to a guy that is basically just a human TurboTax for me. I bring in my papers and go through the year then he fills everything out and files. I don't feel like I get any advice unless i specifically ask about something. Maybe my returns are just pretty simple and there's not much he can he can do to steer me.
Does your guy tell you things you should be doing going forward to make next years returns better? That's what I feel like I'm missing.
Does your guy tell you things you should be doing going forward to make next years returns better? That's what I feel like I'm missing.
11
Posted on 10/30/20 at 9:14 am to OysterPoBoy
Sounds like you need a tax advisor.
Posted on 10/30/20 at 9:41 am to OysterPoBoy
I paid my CPA for this, unless you have your own business, there are very few items money board readers are missing out on.
I'm a CPA too, but never done anything tax related in my career
I'm a CPA too, but never done anything tax related in my career
Posted on 10/30/20 at 9:43 am to OysterPoBoy
quote:
Does your guy tell you things you should be doing going forward to make next years returns better?
my guy has me averaging in in dinars
Posted on 10/30/20 at 9:50 am to cgrand
You laugh but dinars are tax free growth.
Posted on 10/30/20 at 9:50 am to OysterPoBoy
Mine does cocaine
Posted on 10/30/20 at 11:53 am to OysterPoBoy
Will call early and ask what can i do to help her with all the stocks been buying and selling? Can i start the spreadsheet for her
This post was edited on 10/30/20 at 11:54 am
Posted on 10/30/20 at 12:49 pm to OysterPoBoy
my CPA actually helps me with tax credits and deductions as well as advice on alternative ways to reduce taxable income. gives me great advice and help. she is worth it for my business and other investment dealings.
Posted on 10/30/20 at 3:44 pm to OysterPoBoy
95% of the people do not need a CPA to do their taxes. And I say that as a CPA (although I don't practice tax). Business owners and other high net worth individuals can greatly benefit from a good CPA and their tax advice. If you have a W2 and a few 1099's, just use TurboTax.
Posted on 10/30/20 at 3:53 pm to Spec1
quote:
Mine does cocaine
Mine does my mom. Good thing they're married!
Posted on 10/30/20 at 4:45 pm to BamaAlum02
quote:
95% of the people do not need a CPA to do their taxes.
I don't, and I did my own fairly simple returns for years. But I started dreading it after New Years and lived with that until finally doing them in March or April. I just despise messing with them.
Made the acquaintance of a CPA with an office near me. He said he would knock them out for $200. I dropped the papers off and drove away with a huge smile and sense of relief. Now I do that every year. Some of the best money I ever spent.
Posted on 10/30/20 at 7:02 pm to Twenty 49
Nothing wrong with that if it gives you peace of mind. I’m a non tax CPA and I use TurboTax for mine.
Posted on 10/30/20 at 11:19 pm to OysterPoBoy
If you have a simple tax forms a cpa is not needed. Scorps,tax planning multiple accounts should be looked at by a cpa.
Posted on 10/31/20 at 12:16 am to WhiteMandingo
What about multiple rental properties? I was always told a CPA would be best to handle this.
Posted on 10/31/20 at 8:34 am to OysterPoBoy
Outsource a good bookkeeper with tax knowledge. Cheaper overall and can provide useful information for most situations.
Posted on 10/31/20 at 9:17 am to ds1tiger
I use a CPA even though my returns are fairly straight forward. I think you pay a CPA in the event there is a problem or issue with your return. Or even more so if you get audited. Then they are worth every penny.
Posted on 10/31/20 at 9:58 am to cptigger
Chances of getting audited are very low. Turbo Tax even tells you what your risk is. If you do a basic return, you are not getting audited unless you left something out. I’ve worked over 40 years and never been audited.
Posted on 10/31/20 at 10:53 am to OysterPoBoy
quote:
I go to a guy that is basically just a human TurboTax for me.
He's not even a human Turbo Tax. He's using software too.
quote:
Maybe my returns are just pretty simple and there's not much he can he can do to steer me.
More than likely...although you should have enough awareness about your financial situation to know the answer to this question already.
Do you have complicated businesses? Do you have a farm? Are you itemizing or just taking the standard deduction? Go through your last return and see what forms are being filed. It isn't that difficult to get a general sense of how complicated your tax returns are.
Posted on 10/31/20 at 3:05 pm to OysterPoBoy
quote:
I go to a guy that is basically just a human TurboTax for me.
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