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April 3rd, 2006, 07:15 PM #1
Should I Do My Own Taxes?
- Join Date
- January 17th, 2005
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.
April 3rd, 2006, 08:37 PM #2
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.
April 3rd, 2006, 10:34 PM #3
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!
April 3rd, 2006, 10:39 PM #4
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" ;-)Peace,
Loving Everyone's Child Creates Magic
April 3rd, 2006, 10:42 PM #5
- Join Date
- January 18th, 2005
- Nunya, Business
Love my accountant, I got a good one, handles the state stuff too.
April 3rd, 2006, 11:34 PM #6
Get a real accountant
- Join Date
- November 14th, 2005
- Chapel Hill, NC
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.
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