Resolution: Get taxes done now!

[DP]

I am an S-Corp but my accounting is pretty simple. I am thinking of doing my own taxes this year and would like to know who here has a similar situation, does their own taxes, and what program do you use? My accountant also suggested I don't need QuickBooks and that Quicken for small business would do just fine so I was thinking Q for SB and TurboTax. What do you all think?

[Racer X]

Mavic has an S Corp. But he has an accountant.

I am a sole proprieter, and my accountant is worth every penny I pay her.

[jardster]

I too am a solo LLC and wouldn't think of doing my own taxes. They aren't that complicated, but I am sure glad they do it for me.

[Racer X]

another benefit of having an accountant do them, is that if there is an issue with the IRS, most good ones will handle it as part of the agreed on cost. Mine is handling a few issues with an audit of 2004, and the IRS is losing ground slowly but surely.

[M A V I C]

Yep, I have an S-Corp and an accountant. I've tried doing them myself, but my accountant always finds many other ways to get my taxes down.

Come to think of it, for the first couple years I did them myself, then had my accountant do them. Then I compared the final numbers. She was always worth way more than she costs.

Plus, the time it takes me to do them multiplied by my hourly rate is much less than she charges to do them.

Software is only good at organizing financial figures, it's not good at knowing the ins and outs of the tax laws to maximize your efforts. For example, there is a situation where one can deduct computer equipment 100% rather than having to depreciate it. No software that I know of is capable of gauging the situation.

[Racer X]

I gladly pay mine to run the numbers several different ways. She usually saves me 2-4 times what she gets paid. And she is a great source of contacts for other small businesses when I need to contact a roofer or a plumber, etc for quotes. She can tell by their books if they are a good business to work with.

[wurm]

Racer, send her over to MA for me, willya?

[DP]

Thanx all for the input.

[Racer X]

I'm not sharing. Last year when I picked everything up, she gave me a paper plate full of hot fresh home made cookies to take home.

H&R Block can kiss my .....grits.

[DP]

Oh, yeah... Do you all use QuickBooks, Quicken, or whatever?