If you have a business an accountant is mandatory.
We fill out the accountant's tax organizer 2 hours, include documents from folder and drop at office.
Accountant will email with any questions. We pick up, check and sign. During active business years the accountant would do quarterly meetings. Also if an audit accountant helps. I keep a spreadsheet from accountants summary to approximate actions during the year. Study accountants work on your return and learn about your taxes. We still have a small business in retirement and yield benefits including writing off accountant fee. Bottom line hire professionals, spread wealth, have peace of mind and contacts as you age.
The return is 50 pages, accountant $500, so $10 per page. Also a second and third set of eyes is worth every penny ! This discussion reminds me of work. I was chief chemist and people would tell me well I had chemistry
in HS. I would just say me too.
I have a local crew mow to employ and have contacts for other jobs. When I was a 21 year old plumber did a leak service call. Lady of house showed me leak under kitchen sink. I fixed leak , gasket backwards, in 5 minutes and called to the lady. She said what do you need? I said leak is fixed please check.
She said my husband was under that sink the last 2 weekends cursing.
I said is he a plumber. She said insurance. I said time is valuable. She asked how I fixed leak so fast. I said doing plumbing since 10 years old and $10,000 of parts on truck. I have many stories. Best recovered a man's wedding ring cleaning a sewer. I told him go now and apologize to your wife, no extra charge. Schedule F farm income find that in turbo tax LOL.
Siblings received farm income from passed uncle's estate.
Now the cheap turbo folks are confused , yes they all had calculus.
Comments
If you have a business an accountant is mandatory. We fill out the accountant's tax organizer 2 hours, include documents from folder and drop at office. Accountant will email with any questions. We pick up, check and sign. During active business years the accountant would do quarterly meetings. Also if an audit accountant helps. I keep a spreadsheet from accountants summary to approximate actions during the year. Study accountants work on your return and learn about your taxes. We still have a small business in retirement and yield benefits including writing off accountant fee. Bottom line hire professionals, spread wealth, have peace of mind and contacts as you age. The return is 50 pages, accountant $500, so $10 per page. Also a second and third set of eyes is worth every penny ! This discussion reminds me of work. I was chief chemist and people would tell me well I had chemistry in HS. I would just say me too. I have a local crew mow to employ and have contacts for other jobs. When I was a 21 year old plumber did a leak service call. Lady of house showed me leak under kitchen sink. I fixed leak , gasket backwards, in 5 minutes and called to the lady. She said what do you need? I said leak is fixed please check. She said my husband was under that sink the last 2 weekends cursing. I said is he a plumber. She said insurance. I said time is valuable. She asked how I fixed leak so fast. I said doing plumbing since 10 years old and $10,000 of parts on truck. I have many stories. Best recovered a man's wedding ring cleaning a sewer. I told him go now and apologize to your wife, no extra charge. Schedule F farm income find that in turbo tax LOL. Siblings received farm income from passed uncle's estate. Now the cheap turbo folks are confused , yes they all had calculus.
Post: Outside the Box
Link to comment from April 3, 2021