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Taxes, do it yourself or use a bookkeeper?

Discussion in 'Business Operations' started by tradeyouraccounts, Feb 19, 2011.

  1. tradeyouraccounts

    tradeyouraccounts Banned
    Posts: 344

    Who does their own bookkeeping and taxes or uses a bookkeeper? Tax season is getting under way and its time to be thinking about that dead line in april. I prefer to use a bookkeeper and pay the fee as i think they cover all the bases and hopefully save you on taxes to be paid so kinda pay for themselves. Any plans for the rebate if you get one, get some new equipment and the like or pay debts?
  2. Exact Rototilling

    Exact Rototilling LawnSite Fanatic
    Posts: 5,362

    Been struggling with being my own accountant for years....PITA. I absolutely hate the paper work.:cry:

    Rather be stuck on some all day cleanup from hell that was under bid. However if all your data is already entered into QB or Quicken import is very easy to import into Turbo tax....I believe this to be true?

    My plan is to have it reviewed by an accountant for the next return to make sure I'm not missing out on something and paying more taxes than I need to.:hammerhead:
  3. Flatop

    Flatop LawnSite Member
    Posts: 237

    CPA for Federal
    Self for State, done quarterly.

    I am a solo operator so the CPA comes in handy when doing my end of the year taxes.
  4. Paver Protector

    Paver Protector LawnSite Member
    Posts: 17

    Having an accountant do it for you makes sure everything is done correctly, you get deductions you may not know existed and it frees up time for you to do something more productive or something you are better at. I'd have to spend a lot of time figuring everything out for taxes so for me it pays to just send it to the acct so I can focus on more profitable activities like marketing and sales for the upcoming year. Having an acct do it for you is a lot of times a lot cheaper then you may think. Plus I hate all the government forms and paperwork.
  5. willretire@40

    willretire@40 LawnSite Bronze Member
    from VA
    Posts: 1,387

    Cpa told me to let them do what there good at and I do what im good at. $100 a month= no headaches.
    Posted via Mobile Device
  6. Flatop

    Flatop LawnSite Member
    Posts: 237

    $100 a month, seems pretty high but then again I am a sole proprietorship. Maybe the price is high due to the high volume of sales you acquire per month. I pay a little over 400.00 to have my CPA do my federal and business taxes. I do my own state tax.
  7. Flatop

    Flatop LawnSite Member
    Posts: 237

    Forgot, I am a full time student (community college) and only work part time at 17hrs a week and 25 hours if I work on Saturdays(which seldom happens).
  8. willretire@40

    willretire@40 LawnSite Bronze Member
    from VA
    Posts: 1,387

  9. WheatBookkeeping

    WheatBookkeeping LawnSite Member
    Posts: 108

    Having a knowledgeable, and I mean knowledgeable, bookkeeper do your taxes will provide the impartiality needed to gain an upper hand on doing taxes. If while doing the taxes yourself you find that you are not being objective, you should probably use a professional.

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