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First time using an accountant - Opinion


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What you guys dont know about me is I do all kinds of side jobs to pay for my toys. Much of it is IT stuff but there is also property manager stuff, home repair side jobs, CCTV stuff etc. I end up getting many 1099's.

This year I decided to go with an accountant out of fear that I will owe thousands.

He just sent me this email:

"The tax returns are in really good shape, we should review them to make sure everything is captured properly, and also to look for additional tax planning opportunities for you."

Do you think he's implying I dont have to sell organs, sperm and blood to pay my taxes? or something else?

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I've been using one since 2007.  What led to my decision was selling my house in WA, when I was living in AZ, and the house had been rented.  I had an accountant do everything, to make sure I didn't get hosed on the house (sold when I didn't live in it, rented, and it was a personal residence, not an income property - the IRS doesn't give a poop about military moves...).  The accountant I got was also in cahoots with an attorney, and guaranteed the work, with free attorney's fees, if necessary (talk about using your buddy...  <laughs>).  The IRS DID get into my poop over that, and the accountant/attorney tag team handled that poop wonderfully.  <thumbsup>

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Like Tom, I started using a tax accountant when I sold a house I had been renting. Up to that point I had always done my own taxes, but trying to figure that poop out made my head hurt! I stayed with her all through the time Josh was in college, but went back to doing my own this year. Things have gotten much simpler for me over the last couple of years!

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I am a 1.5 semesters away from holding a BS in Accounting. I have no interest in public accounting, but I have taken a Tax course that my university requires for all Accounting Majors. The "tax planning" will cost you, but in theory, the benefits should exceed the costs.

Kind of off topic warning. I learned about all kinds of good stuff in that class. For example, a farmer could expense a international cxt ($100,000 truck) over four years and basically get a badass truck for free. Assuming he had $100,000 initially to buy the truck.


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