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Originally Posted by CoachKandSportsguy
how difficult? You have an LLC or a C corp? you have software which can summarized your income and expenses? Do you have inventory?
I know that your tax opinion vs your expertise might have you believe you need a high priced accountant, but what what do you think makes the return complicated?
just a finance guy who does some taxes
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First, not all accountants are "high priced". I am a CPA with an active practice.
I get people coming in to me all the time I recommend do their own taxes because they are simple and they would be spending unnecessary money for me to do their return.
Especially with the fact 80% of taxpayers longer itemize.
But there are returns that should be done by someone qualified. These taxpayers have more complex issues - selling property as an example (not their residence) that because of my doing taxes for many years can save the client more money than my fee.
One respondent mentions QCD's-an excellent option for retirees. Using turbotax or HR Block doesn't educate the taxpayer about this option.
As to fees I find that my fee is sometimes the same or lower than HR Block after they added all their extras. And I don't recommend HR Block where you get your taxes prepared by someone with three weeks training. They fill in the boxes but are not proactive in asking questions or suggesting ways to reduce taxes.
I recently had a client - in the villages - running their own business making a fairly good income. My reeommedation was he elect S Corp status for their LLC. He saved $4,500 in social security taxes. Does Turbotax suggest that?