Pay up, Bishes.........cuz I'm the taxmannnnn.....

For those that do their own taxes that have a small business or are a sole proprietor, what software program do you prefer? I have been using H&R Block's now for several years, previously using TurboTax. Just wondering if I should reconsider. US News says TurboTax this year, CNET says TaxSlayer for self-employed......

If you want to add pros and cons.......appreciated.

Thanks in advance.

 

No idea about the specifics of your situation, but my accountant has never cost me money compared to doing my own taxes. He works for free as far as I am concerned with what he has gotten me between a rental property I used to have and my small business.

Edit: been years since I did my own, but I liked HR better than turbo tax because they required less info on deductions. With how high standard deduction is now, not sure my former creativity would matter these days.

 

Get a professional,way better than some software.

 

I’m a past, sole proprietor/operator. I struggled to find a solid accountant. When I did, the guy found multiple mistakes from previous years and managed to submit paperwork to get me back $9K I overpaid.

I’d never do my own taxes, being self-employed. There’s simply too many possible mistakes/overlooked items. A great accountant is well worth their fees. Apparently, you haven’t watched “Ozark”?

 

Most all tax specialists have a preferred platform like QB or Xero or similar to keep from having to reconcile a whole years worth of paperwork or non traditional record keeping.
Of course the software costs money but the time savings is worth it.
Plus the record keeping/ archive is super easy to access.

 

Plus with an accountant, if you get audited he can talk to the IRS to explain / justify things.

 

+1000. I have been audited a few times with my business and it’s nice to have someone that knows what they are doing, representing you.

 

These convos always make me think of Cheers when Norm did Sam's taxes and he didn't trust it because he was getting a refund. Probably only saw episode a couple times, but it always stuck with me for some reason.

 

I use the Tom Ney program.

Costs me about $900 a year. No f@ckin way I'd tackle it myself.

 

Taxes?
Pay someone to do it, if for no other reason than it avoids the aggravation.

 

Tax? the things that hold shit on the pegboard?

 

Friend in FL who is a CPA and and a CFO for a small company I believe uses the H & R Block Premium to do other friends taxes who have small businesses/1099, etc etc. He got me using their Personal version for my own taxes.

 

Great point.

I used QB Online, which operates on the cloud. This allowed him to monitor my activities and guide me throughout the year, which allowed for me to have mistake-free books at the end of the year, which simplified his doing my taxes. Plus, it allowed for me to access everything on my phone, anytime. I wouldn’t do it any differently, today.

 

I got very lucky when I started my business on a referral for an accountant. Probably the smartest thing I did in my first year. Tax law changes so frequently that you need someone who is a professional. I had a state audit that I sat back and watched while he answered all and sent that auditor down the road.

 

And yes, Quickbooks has a the way to go to keep accountant cost low.