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Thread: Should I hire an Acct or do my own taxes?

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    God/dess cinammonkisses's Avatar
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    Default Should I hire an Acct or do my own taxes?

    Ok, for the past couple years I've done my own taxes through turbotax. This yea, will be the first year that I claim my dancer earnings because it will be my only job. Anywho, do you all think it would be wise for me to do my own taxes as an independent contractor or should I hire an accountant to do it, and then the years following do my own?







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


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    Member taxdomme's Avatar
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    Default Re: Should I hire an Acct or do my own taxes?

    You know, it all depends on how savvy you feel you are with it. If you're familiar with doing a business return, then you will probably will do it right. However, another poster was right that a tax pro. will be aware of little tricks to lower your tax liability. Deductions taken in one place can have dramatically different results than when they are taken in another.

    When considering a tax professional as a business person consider these things:

    - Shop around until you find someone with whom you really jive and who will work WITH you
    - YOU are the client and should be treated with respect as a business person
    - The tax laws are for everyone, regardless of your business and the preparer should take your deductions as such
    - You should feel comfortable telling all to your tax preparer, like your doctor, because it is only then that they can really help you
    - Look for someone who will help you with tax planning throughout the year
    - Don't just jump toward the preparer that offers the biggest refund, it is your tax liability that is the issue.
    - Not everything can be taken as a deduction as there are specifics that pertain to the uses of certain items
    - Know that a good tax professional may tell you things that you don't want to hear. This is because it is that professional's duty to keep you out of jail.

    Happy Filing!
    The Tax Domme
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    http://www.taxdomme.com

    I'm a Tax Preparer with a specialty in the Adult Entertainment Industry & a
    member/ advocate
    . My purpose is to keep you in compliance with the law, but to use the law to your advantage.





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    Default Re: Should I hire an Acct or do my own taxes?

    ^^^ great summary, taxdomme

    The point comparing internet based tax advice versus a personal accountant to internet based medical advice versus a personal physician is well taken.

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    Veteran Member StuartL's Avatar
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    Default Re: Should I hire an Acct or do my own taxes?

    In my experience, finding someone who knows this stuff backwards is well worth the money. You will probably find all sorts of deductions for next year that you did not know existed.

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    Default Re: Should I hire an Acct or do my own taxes?

    Best thing I did was hire someone who knows independent contractors to know my taxes for me. He does at least 1/2 the girls I work with. There are kinds of hidden deductions that are legal.
    you live like an ivy vine
    you can only survive by clinging onto trees
    that's your flaw
    put down some roots so you can stand on your own
    -Kenpachi



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    God/dess cinammonkisses's Avatar
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    Default Re: Should I hire an Acct or do my own taxes?

    Quote Originally Posted by TigersMilk View Post
    Best thing I did was hire someone who knows independent contractors to know my taxes for me. He does at least 1/2 the girls I work with. There are kinds of hidden deductions that are legal.

    Yes, I have the card of an accountant w/ tons of experience. I got her card from a dancer (who has been dancing like 20yrs) whose been using this acct services for years. So yea, I'm going to go check her out.







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


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    God/dess cinammonkisses's Avatar
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    Default Re: Should I hire an Acct or do my own taxes?

    Ok, so in being a dancer, are you supposed to go quarterly to meet with your Acct. or yearly?







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


  8. #8
    BrunetteGoddess
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    Default Re: Should I hire an Acct or do my own taxes?

    Bump. I'd like to know the answer to her question as well.

  9. #9
    BrunetteGoddess
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    Default Re: Should I hire an Acct or do my own taxes?

    Oh ok, thanks.

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    Member taxdomme's Avatar
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    Default Re: Should I hire an Acct or do my own taxes?

    I like to touch base with my clients at least twice a year - right before estimates are due whether or not they pay them. This way they can keep a handle on their tax situation before it bites them at the end of the year.

    If you don't have much of a difference from year to year and/or keep track yourself, then once a year is good. It's all client-specific.

    Hope this helps!
    The Tax Domme
    U.S. Only

    http://www.taxdomme.com

    I'm a Tax Preparer with a specialty in the Adult Entertainment Industry & a
    member/ advocate
    . My purpose is to keep you in compliance with the law, but to use the law to your advantage.





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