Who's doing your taxes?

Discussion in 'The Howard Stern Show' started by Blazing Buffalo, Apr 11, 2015.

  1. Blazing Buffalo

    Blazing Buffalo Members Only

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    I own a small business and have had the same accounting firm doing both my business and my personal taxes for the last 6 years. This year I feel like they're doing a lousy job. It just feels like they're being lazy and not working hard for me. I've had a decent year with investments and I sold a property so my personal return is a bit more complicated than usual but I still feel like I'm getting raped. I'm thinking of just plunking down $100 and buying the premium version of turbo tax to see what's what. So I ask you, people of the shed, without getting political about it who does your taxes and are you happy with the results?

    Howard related because obviously I'm trying to save as many marbles as possible.
     
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  2. Pussy Tendon

    Pussy Tendon Wet! CUNT!!!!! Gold

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    Me, myself, and I. TurboTax for 10 years. Only complications have been moved to different states and divorce... Couple house sales. All good in zee hood.
     
  3. Quedee

    Quedee Wise Ass Extraordinaire

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    Turbotax never fails me.
     
  4. Bristol Chicken

    Bristol Chicken Free Range and Loving It Gold

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    I have been using a private practice CPA for over 10 years.
    One of best financial decisions I have made. I have saved a substantial amount over the years
    It certainly costs more than doing it yourself or using H&R, etc.
    Also in the state of CA a CPA can represent you if audited where a "tax preparer" can not.
     
  5. Tipsey Russell

    Tipsey Russell VIP Extreme Gold

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    we used that turbo tax in the past
    it seems to work fine
    though if you owned your business or whatever it may get a little more complicated
    if you're taking financial advice from me you may have suffered a stroke and should seek immediate medical attention
     
  6. Blazing Buffalo

    Blazing Buffalo Members Only

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    Up until this year I used to feel exacfly the same way, but this year they're all over the place. I keep coming back to them with questions and inconsistencies and they seemed bothered by them. I understand it's their busiest time but I'm paying them an arm an a leg so I can bother them during tax season, not the rest of the year when they're much less busy. Might be time to look for someone else.
     
  7. Dan

    Dan Do you like my car?

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    A buddy of mine that works for the IRS told me they had some pretty massive layoffs. Chances of getting audited are low this year. So go nuts, get "creative". If you can't trust an anonymous dude from the Internet, who can you trust?
     
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  8. Blazing Buffalo

    Blazing Buffalo Members Only

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    I'm on it! I'm thinking my dog is a dependent this last year. Instant savings.
     
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  9. Murcielago

    Murcielago Smoke me a kipper, I'll be back for breakfast

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    Use Turbo Tax as well, though it sucked this year that after buying 'Deluxe' I had to drop an extra $30 for 'Premier' just so I could download my brokerage data online. Still worth it, but the surprise was a bit annoying.
     
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  10. josephJ

    josephJ Active Member

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    A Jewish man.
     
  11. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    I use tax software and do my own, including a schedule C. The personal stuff and deductions are easy.

    Investments are an incredible PITA to track, especially if you buy and sell in odd lots, or if you have securities that fall into certain categories such as "foreign partnerships". But the software does remember your carryovers from prior years if you use the same brand.

    The accountant is using pretty much a version of the same thing. They take your data and enter it into software. I try to keep things that are bought/sold frequently in a tax deferred retirement account so I dont' have to fuck with it. The hard part is keeping track of what you've bought and when you sold it so that you can enter it correctly. The more organized you are during the year the easier it will go.

    I've never quite trusted downloading stuff directly to the tax software.

    The schedule C stuff is pretty easy, especially with section 179 depreciation rules. An accounting firm is only as good as the low paid employee they hired to do the actual work.

    We pay less tax than I'd expect most years, due to maximizing 401K and HSA deductions. The real ripoff is paying tens of thousands annually for a retirement/medicare system that likely won't be there when we need it.
     
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  12. Bristol Chicken

    Bristol Chicken Free Range and Loving It Gold

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    Every year my CPA pushes my appointment back further. This year I made the request in January and the earliest appointment available was late March.
    In a way I look at it as confirmation I have the right CPA. The man is busy!
     
  13. Bristol Chicken

    Bristol Chicken Free Range and Loving It Gold

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  14. Blazing Buffalo

    Blazing Buffalo Members Only

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    The business side of it is straightforward and pretty simple. Small business S corp etc so the accountant comes in handy with all the different loopholes and whatnot. The personal side this year has been tricky because of the sale of property, depreciation recapture, investment tracking that you mentioned etc.
    thank you for the detailed response though. Came in handy.
     
  15. x76

    x76 Well-Known Member

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    A local guy who specializes in tax prep. He's great. Fits me in on Saturday mornings, charges me half his regular rate, saves me all kinds of headaches and money and THIS YEAR I'M GETTING A FUCKING REFUND!!!! That will come in handy. Easily worth the money. The way my income is structured is not going to be covered with a 1040EZ form...

    :derp:
     
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  16. TheMercenary

    TheMercenary Collecting Light Gold

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    I live in hotels, tear out the walls. I have accountants pay for it all. :cool:
     
  17. IfTheyOnlyKnew

    IfTheyOnlyKnew VIP Extreme Gold

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    [​IMG]
    Been using since it came out in the 90s :up:
     
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  18. Krinkle

    Krinkle What?

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    My father insists on doing my taxes. He's 30 years IRS, retired.

    Nice return this year, thought I was going to owe, thanks dad! :dancin2:
     
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  19. SillyOldMan

    SillyOldMan Well-Known Member

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    H&R Block software for me. If you are the "normal" tax payer who has a regular job and maybe a house and some investments, there is absolutely no reason to pay anyone. Taxes are fairly easy at that basic level.

    Once you have your own company with employees, it's worth paying a professional assuming you have limited accounting/tax background.
     
  20. Rupert Pupkin

    Rupert Pupkin That Ass is Attached to Daniela Lopez Gold

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    I am just an employee with a W-2, 1099 from my broker and 1098 from the mortgage company. I have used Turbo Tax to prepare my 1040 for the past 15 years. No state return needed in FL. I get a nice discount on the software by clicking through the links on my brokers website.

    The lack of attention you are receiving is not unusual this time of the year. You may be just a number (tax return) to them. While I am not sure of the details of your relationship, perhaps scheduling off-busy season meetings, if needed, may make the service/relationship better. As I have seen from my friends and family, they use a CPA to prepare the returns long after the transactions have taken place and the CPA is not involved to provide real-time advice when the transaction is contemplated or the stocks/business are being sold, etc.

    Last year, I had to advise mom that her longtime CPA firm fucked up her return. She is just a retiree with nothing too complicated, but they had no clue about deducting accrued interest on some corporate bonds I purchased for her, even though the figure was included in the 1099. The morons tried to argue they were right, but I showed mom a page from President Obama's tax return to show that his CPAs are properly netting purchased interest against the bond interest she earned. They revised the return and mom saved about $200 in taxes she did not owe.
     
    Last edited: Apr 11, 2015