What do you do when it comes close to the end of the year and you want to estimate your tax amounts.
Do you have an accountant who recommends what to buy or reinvest into to show less net income?
Who gives this much thought?
I didn’t do quarterly’s this year, next year I will and that will probably help a ton…
hire a bookkepper, they charge around $125.00
Are they qualified to give tax advice?
I don’t mind spending a little more for a tax pro if they aren’t…
dude, they are just like a cpa, but they can stretch the truth a little bit…
I assume you’ve had good experiences for a few years with the bkper’s?
I’ll call around
good to hear…
Hire an accountant to do your taxes. He’s responsible for screw ups not you should they happen. Alos, try to find one that has worked for the IRS, they know how to get things through much better than a bookeeper. I love my accountant!!!
Here, it doesn’t work like that. If the accountant screws up - its MY responsibility in the eyes of the law :mad:
My last accountant screwed up, his mistake…he said I should have proofed my returns:confused:…What am I paying you for??? hes no longer my accountant:rolleyes:
Yeah when my father filed his tax when he retired, his tax preparer didn’t include the couple months he worked and that ended up costing my dad a couple grand! The accountant said the same thing…oh, its not my fault…you should have caught that!
I love having an accountant. What a weight it is off of my shoulders. I just hand her my receipts etc. and my Quickbooks data and she does it all.
I too am going to try and do quarterlies this year like I always should be.
Spending to save money on taxes isn’t as good as investing to save on taxes. Sure if you need the equipment spend. However, if you invest to save money on taxes not only do you retain your hard earned money, but it’s like Uncle Sam kicking in on your investment, if you consider the tax savings.
Find a good CPA/Financial Planner.
They call estimated tax that for a reason. You will estimate what you think you will gross in that quarter. Its a little hard to do at first but gets easyer to do as time goes on. I try to estimate a little lower then I think it will be because I hate the thought of the IRS getting my $ intrest free if I overestimate. It is a good idea to get a good accountant who can show you all possible deductions you may have. Even with an accountant its good to do your own homework on what you can use as deductions. Take all you legaly can.
I hate accountants lol. My first one I had for 15 years and sent him no less then 10 new clients. When I asked for a price break one year he told me no. lol. Then I had a tax question and called him. I got a bill for $50. I wrote him a letter with the check and told him I thought he was a cheap bastard an I would never use him again. Most of the clients I sent him have since left also. Not because of me, but because the guy was just a jerk. When I look back I get upset cause I am the type of guy who keeps records of everything. I would go in his office and the stuff would be so orginized he would get the taxes done before I left. The guy I hired last year was a joke and in the back of my mind I worry that one day I’ll get a letter from the IRS. I decided I was not going to be so orginized last year, what the heck am I paying for. I just gave him all my paper seperated as invoices, bills and receipts and let him leave. The next morning he tells me the taxes are done and he drops off the package. I pay and he leaves. I open the package and find all my papers still stapled closed in their folders. When I asked him if he even opened them he said yes. I will admit the amount I had to pay was very close to the number I had calculated the week before. But still I was nerveous. I won’t be using him again.
