Do you do your own taxes or have an accountant do them? I have done them for the past few years but this year I feel like I want an accountant to do them to make sure I'm not missing out on any deductions or benefits. Thoughts on the pros/cons?

like
Posting as :
works at
You are currently posting as works at

I realized years ago that when doing my own taxes I was probably losing more money than I saved by not hiring someone, especially owning an LLC for a side hustle. Hire a good one though.

like

Yeah definitely if you have a side hustle and its own company you need an accountant! I'm not that complicated

I've done my own for over 20 years. For the last 8 years or so, I've used Tax Slayer. Since my taxes aren't too complicated, and I use standard deduction, it's quick and easy for me

like

I agree - I was using a private accountant and wasn’t really happy with her service, so I am also thinking about finding a different Accountant. How is working with a big company like H&R Block ? That’s who I used to use when filing myself

H&R Block sucks. I used them for my second time filing. They are very expensive and not knowledgeable at all. The lady assigned to me added my side hustle income twice. So I asked her “wait, is this normal? Won’t I pay double the taxes this way? And she replied “oh yeah sorry. Good catch!” If your taxes are simple enough, Turbo Tax is a great deal. Less than half the price of HR and their algorithm is better than HR’s “experts”.

helpful

I always found I was able to do as good of a job as H&R. I found a CPA that does not take on any more new clients, she let me hire her because of a mutual connection who was already a client. Try to find someone with that type of reputation. Their reputation goes a long way with the IRS too.

I have been doing my own for the last few years but am thinking of hiring someone. I have a few side jobs (1099) and it was a bit confusing last year. Not sure if I did everything correctly and am getting anxious about doing my own again this year.

If you have a side hustle or a rental property, and you’re not sure what you can deduct, then maybe seek out a CPA. But be prepared to have to look around and pay more. The accountant shortage means firms and sole proprietors are shedding 1040-only clients, not taking on more, and/or upping their fees.

If you just have W-2 income, some nominal interest and dividends, and maybe mortgage interest and some charitable contributions, then probably not. TurboTax, TaxSlayer, or the like should be fine.

Yeah I usually use TurboTax. Guess I just want to make sure I'm getting the deductions I'm entitled to

If I did my own I’d be in cuffs 😂😂😂😩🫠

Related Posts

Beginner question - am I able able buy an ETF or mutual fund in which my spouse's employer is one of the top 10 investments?

likehelpful

$2k into XLV or VHT?

like

Why did Donald tank the stock market today?

funnylikeuplifting

Where do you get your Airbnb data for rentals? Deciding between STR and LTR on my property right now

like

I bet if it were 300B in PPP loans nobody would bat an eye. It’s only when individual taxpayers get a break that everyone becomes a policy expert.

likehelpful

Abandoning Green Card
Has anybody experience in giving up the LPR status after leaving the US for work and residency in another country/homecountry? I come from a low tax country and wonder whether Uncle Sam will send a final tax bill or penalty fee or even make it difficult/impossible for me to abandon the GC once I will leave the US again. This is crucial for me to apply for the GC.

like

If you could go back in time what would you tell yourself before taking out student loans?

like

Recommendation for a CPA/ financial advisor in NY? Have oversea assets and investment property in the States. Can't seem to find anyone legit on Yelp:(

like

Finally hit first million in crypto assets. Surviving the crypto winter has its blessings. Hopefully I can peace out of rat race 2023

Edit: for everyone that survived the crypto winter with me I hope you all made it too or soon.

Post Photo
likeupliftinghelpful

Anyone have a realtor they can recommend that would kick back a portion of their commission on a > $1.5M purchase. Please DM. Thanks!

like

Quick poll time. How old are you and how much debt do you have? Credit cards, student loans, vehicle loans, mortgage loans, etc., etc.?

I'm 31
$8k in debt (All credit card. No mortgage currently, but looking to buy. Car and student loans are paid off.)

like

When budgeting for a home, what is it typically based on gross or net? And what should prevent range be (from comfortable to overextended)?

like

Is it better to buy stocks and options around 10 or after 1 pm central time to avoid the market rush/high at 9 and 12?

like

Hello! I’m new to the city/country and would love know where can I find a financial advisor that can help me navigate the basics in the US (401k, investment plans, taxes). Is there a profession that could do all those things combined?

like

Left Accenture 10 years ago... can someone remind me what the ESPP offering period(s) were and when stock was purchased? Was it 1 or 2 offering periods per year? And what were the months of each?

like

This has probably been asked many times in this bowl - what’s the best hotel rewards program? I have the Chase Sapphire Preferred card and I’m a Southwest RR member. I travel maybe 25-30% of the time

New to trading and investing in equity. Have $200k in equity and $20k in MUNI bonds. How do you plan to diversify?

Have you ever taken a job you know you will hate because you needed the money right away? I have a family to take care of. I don't want to be plowing through our savings for selfish reasons like my mindframe at work, but I don't want to make our lives worse by being miserable. It's a matter of really ruining some of our financial future if we don't get money soon.

like

More Posts

Considering getting my license and starting off as a real estate agent. I've always loved real estate, house flipping, interior design. What can I expect as income and time commitment as a brand new agent with no book of business? How hard is it to get established and become well known in my area? I'm in the Bay Area. Anything else I should know before I quit my job and persue this dream?

like

Anyone else struggling with hormones / mood swings? I am almost 16 weeks and been having a real tough time lately, feeling really down and stressed about things. Sadly, causing tension between me and my partner as well as he cannot relate and seems preoccupied with business as usual. Trying to get out the funk and just telling myself it’s all the hormones.

I have not been brought up religious but I am beginning to think, I’d like to have faith in something. Doesn’t need to be dogmatic, but having a foundational belief in good things to come is probably essential and for someone like me who needs to work so hard to be happy, I wonder if being a part of a spiritual group can help. Does anyone have recommendations for what I can look into? I get there are many churches but has something helped you guys?

like

Moving to the Bay Area this summer from chicago. Any recommendations for good luxury apartments in Palo Alto, Redwood City or Mountain View? Also how critical is it to have your own car? I live in downtown chicago currently where everything is walking distance

like

Can someone explain to me what law clerks are in private practice? I'm based internationally but deal with our NY office a lot, and I can not figure out what the title actually means/where it sits.

like

Does studying for top consulting firms’ case interviews help in any way for interviews with other firms (e.g., FAANG case interviews) ?

like
like

Any recommended restaurants with a live band/entertainment? Please indicate how much, if music is ticketed.

like

Taking Reg this Friday so wish me luck

like

Hi everyone. I know you are the WLB in consulting in the world is bad but in general in Europe it is better than other parts of the world. So does the WLB in consulting in Italy slightly better than US or UK?

Hi guys! I wonder what is perceived better for career purposes - LUISS or Cattolica degree?

Good morning!
Do you have any informations about the Strategy& Italy team concerning WLB, projects & leadership management style?
Thanks in advance!

like

After 3.6 years is 16lpa a good salary?

like

What are your thoughts on talent intelligence?

like

Just crafted a wonderful email to the client detailing information on how much tax they aren't gonna pay, all I get is "thanks".

like

2𝐇 2022 𝐒𝐀𝐏 𝐒𝐮𝐜𝐜𝐞𝐬𝐬𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐢𝐥𝐢𝐭𝐲!

#SAP #SuccessFactors #HXM #2H2022

Post Photo

Anyone looking to earn dual equity... in their own book, but at the same time in a bigger roll up aggregator looking to be at $1B in its first year and $5B in its third?

like

Can someone please enlighten me on the career trajectory and opportunities of someone that moves into a Solutions Consulting role at a software company vs. a PM role. Solutions cons. Seems to pay more in the short term with commissions, but curious where that path leads and if the comp growth tapers out early.

like

How do I approach wanting to work for my client I've been on for two years? Is it acceptable to directly tell the client side or should I apply first and let them know I applied?

like

Additional Posts in Student Loans

If you could go back in time what would you tell yourself before taking out student loans?

like

Can grad students get $20k forgiven if they got Pell in undergrad but outstaning loans are only for grad school?

like

Are you doing what you thought you would be when you took out your student loans? If so, do you feel like taking out your loans was worth it?

likefunny

Damn LIBOR rate up again...

SOFI or who else?

In a perfect world how much would you want to make a year to both pay off your loans and live a good life? I think I'd need to make upwards of $200k to pay off my loans, take care of my family and live a fulfilling life.

like

If you didn't have to pay off any more of your student loans what would you use the money for instead? I'm stuck between something impractical like a trip somewhere or something I need like a new car lol

like

LCSW 50k loan repayment- Has anyone been granted a contract through the National Health Service Corps Loan Repayment Program? I’m interested in applying for the 2 years of full time work as an LCSW but my loans are a bit under 50k so I’m wondering if they would only give me what I need to clear my loans or would I still get 50k as long as I complete my contract ?

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal