Tax Accountant Advice
Discussions revolve around recommendations for hiring professional accountants or tax consultants versus using software like TurboTax for personal and business tax filing, especially for complex situations involving self-employment, startups, and deductions.
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Same here - can't imagine what you'd pay in accountant costs otherwise.
sounds like you need a proper tax consultant
For $150 turbotax filed my fed and state taxes:1. W2s + bank interest for two people2. Taxable capital gains of various kinds, including stock, options, and 1256 contracts3. Self employment business (consulting) with multiple clients and deductions for various business expenses.All of this took less than 2 hours and most of the data was digitally imported from various portals.I'm guessing it would cost me at least an order of magnitude more and take similar time to do it thro
TurboTax can't handle even moderately complicated tax situations without forcing the user to learn about tax law. (E.g. where people live and work in different states, which is not unusual in the northeast.) Nor can they handle the human-facing job of sorting through someone's documents. We pay an accountant about $1,000 a year to do our taxes, and being able to simply forward him a bunch of W-2s and email receipts instead of triaging them myself makes it worth every penny. (Fun fact:
Use an accountant, doing it yourself is not worth it, since the accountant will pay for himself by catching a lot of deductions that you missed
Don't ask hackernews, ask a bookkeeper who is familiar with your local tax laws.
If you have an accountant, ask them!
Talk to your accountant.This is not a productive use of your time.The potential cost of getting it wrong (aka "dumb tax) is exponentially larger than the cost of professional expertise.There's tax liability.There's fraud liability.There's opportunity cost because this isn't making you money.Good luck.
Hire a professional accountant. They'll give you better advice than discussion forums on the internet. Even though HN is pretty decent for tech/business discussion generally.
It's probably a good idea to find a good accountant or tax lawyer who knows this stuff and pay them to give you an authoritative answer.