Tax (software) time business owners!

A

a.k.a. Patrick

New member
In the past, I have used an accountant to map out my tax strategies and other business related issues, but Im considering going at it myself this year. What does (If you do) everyone use for their tax software for their business this time of year?
 
Every 2 months I go see my acountant for dinner.

I do ZERO bookeeping, I have Chase mail a duplicate of my business bank statements to him and he has online access to let me know if I am in trouble.

Much easier.
 
My father is nice enough to do my personal and business taxes. I think he just uses Turbo Tax. The only thing you need detail about is your equipment purchases for the year. You need to know the date the equipment was put into service. This is if you are writing off the cost of the equipment all in one year as opposed to over several years. I talked to an accountant and asked him if it would be beneficial for him to do my taxes as opposed to my father using Turbo Tax. He stated that unless you are large company with very complicated books, it would not be beneficial.
 
I pay $600 per quarter due to the amount of service I need.

I think its CHEAP. I would have to pay someone $50,000+/yr. to sit in my office and do this.

I also send payroll out to PAYCHEX, its also dirt cheap.
 
Well, the detailing isnt my only source of income. I have many many purchases and what not, throughout the year. And a lot of office equipment, as well as facilities which store my stuff.
 
Patrick....Quickbooks is another option.

Not as cheap as Turbotax, etc.



Keep me posted on what you find out because I am in the EXACT same position bro.

You know me...Bako.
 
We have always done it ourselves with the help of a friend of the family. Next year I am getting an accountant. It is getting to be too much.
 
I use taxact.com. It's the easiest plain english tax software I've ever used (I sound like a infomercial :D )! I did my taxes in 2 days, it would have been 1 day, but I had to wait for them to upload State tax software into their system at the time.
 
Andrew, being as were so close (in proximity), maybe you could now show me!!!

Seriously (and I know your busy) any tips are appreciated.....
 
Quickbooks use to have an online tutorial? That being said, I never took the time to learn it....isnt that what you raise your kids for!!

Anyway, we do use Quickbooks Pro and after all the tax info is in, usually be the end of Feb, we send those forms and a copy ofour QB to our CPA. Most CPA's have QB as one of their systems and can easily transfer. Plus he always has everything on hand when needed. It cost us 250.00 for this service.
 
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