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  1. #1
    Join Date
    January 17th, 2005
    Should I Do My Own Taxes?
    I'm wondering if I should get a professional to do my taxes for me. Last year was my first year of internet business, and so I don't really have any idea about how these things go. That said, it seems somewhat straight-forward on the surface - just take out my business expenses (ppc ads, new computer, new software, etc.). Since I've been traveling around a lot I'm not really going to worry about things such as claiming 1/4 of the room I work in, etc.

    Am I missing something here? Would a professional be able to save me a lot more money? If so, can anyone recommend someone who can do it "virtually"? (I'm currently out of the country and may even file for an extension - if it seems worth getting a professional to do it.)
    Last edited by trivum; April 3rd, 2006 at 07:31 PM.

  2. #2
    Prince of Content Vinny O'Hare's Avatar
    Join Date
    January 18th, 2005
    You would be surprised at the advice and the tax changes from year to year that your accountant knows about. I would never do mine by myself and remeber your cpa bill is a tax write off next year as it is a business expense.

    I enjoy going to my cpa and explain to him that I sell online but have no products. Every year he wants to know how to do it himself.
    Vinny O'Hare - OPM - Contact Info email: vinny at ~ 702-582-6742 Twitter

  3. #3
    Mama in Charge Anne's Avatar
    Join Date
    January 18th, 2005
    If you made a decent amount of money, it is completely worth the investment to get a GOOD accountant. Beware though, the bad ones usually charge the same, hehe!

    Your job is to find one to save you money! Word of mouth is a very good way to go with accountants!

  4. #4
    Life is Supposed to be Fun! Rexanne's Avatar
    Join Date
    January 18th, 2005
    Los Angeles
    I leave as much to professionals as I can and taxes are one of those things. The cost is tax deductable, too. :-)
    Last edited by Rexanne; April 3rd, 2006 at 10:46 PM. Reason: Left an "o" off of "too" ;-)

    Loving Everyone's Child Creates Magic

  5. #5
    ABW Ambassador
    Join Date
    January 18th, 2005
    Nunya, Business
    Love my accountant, I got a good one, handles the state stuff too.

  6. #6
    Tax Paying Member
    Join Date
    November 14th, 2005
    Chapel Hill, NC
    Get a real accountant
    I did my own taxes for years. As the tax code is "simplified" it gets deeper in the johnny jar.

    Do not go to a store front tax service for this. Make sure that you have one who is good, believes in his work and is hopefully a friend.
    You must climb this mountain. There is no elevator. ---- Don't stick your finger in the liquid nitrogen.
    Carolina China

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