Tax Question

Discussion in 'Business Operations' started by 021462, Nov 6, 2002.

  1. 021462

    021462 LawnSite Member
    Posts: 97

    Hey folks, when that time comes to settle up with the tax man, what can you write off and what can't you write off? It will be my first full year. Do I need a CPA? Thanks ahead of time for you input.:(
     
  2. MacLawnCo

    MacLawnCo LawnSite Bronze Member
    Posts: 1,847

    you definately need a CPA. I had no Idea, and the $40 it cost to do the taxes saved me over $2000 that year alone. Definately worth it.
     
  3. Heller Landscaping

    Heller Landscaping LawnSite Member
    Posts: 204

    We use Turbo tax Business Computer Software.
     
  4. hoagie

    hoagie LawnSite Member
    Posts: 222

    40 DOLLARS!!!!! HOLY CRAP!!!!!!!!!!!!!

    I wish my accountant charged me $40 for tax prep. I pay $185 PER HOUR. :eek:
     
  5. rkbrown

    rkbrown LawnSite Senior Member
    Posts: 533

    I'm a belt and suspenders type when it comes to taxes. I used to have my accountant do it all. Recently, however, I have used Turbotax. I do them using the software and then take it to my accountant for a quick check to see if I have done anything foolish. I save money this way as my accountant's fee to check the return is considerably less than if she totally prepared it.
     
  6. B. Phagan

    B. Phagan LawnSite Member
    Posts: 95

    Best to get that one-two person CPA, NOT an accountant to do your taxes unless you are filing the short form.........thousands of tax law changes yearly and CPA's are required to have 80 CEU's every two years to keep up......the result is they can save you money.

    No way I would do my own taxes.....never have, never will. My CPA saved me over $1,500 last year due to a tax law that was new.

    And BTW, make sure you meet with them no less than quarterly to discuss your business. It'll pay off big time.
     
  7. LB Landscaping

    LB Landscaping LawnSite Bronze Member
    from Maine
    Posts: 1,309

    I agree with Bill, my CPA saved me big bucks last year. They know the in and outs of write offs and how to keep it leagal to avoid things like audits.
     

Share This Page