Taxes
- Thread starter kneifl
- Start date
Would like to get my done, but I never see our K-1's before late march.....:sadwave:
Yet it took you all weekend.
:00x33
I should have said "if you value your time, then use a professional"
My initial post was an exaggeration. It did take some time though, I spent a few hours on it Saturday. Some things are only done right if you do them yourself. Using a professional would be like handing the ball off to a less talented player, why would I do that?
kneifl
Ohhh....if it's a couple of hours for an uncomplicated return, then definitely do it yourself. I got the impression that it took most of the weekend.
BobbyBlueChip
While the act of "doing your taxes" is a simple task for many people with simple scenarios, the true value of the professional is found with tax planning or review of different tax incentive initiatives that could be applied to your income.
Doing your taxes is after the fact.
Tax Planning occurs before the new year.
Doing your taxes is after the fact.
Tax Planning occurs before the new year.
I thought I mentioned it was an itemized return, definitely would be complicated for most people. Not you though, right Bobby? LOL :mj03:
Accounting is such a cush elementary profession.......
kneifl
No. Itemized returns are very complicated. You have to take a number from a tax form and then enter it into the right box.
https://turbotax.intuit.com/tax-too...hat-is-a-Schedule-K-1-Tax-Form-/INF19204.html
We own farmland and rental properties in partnerships, thus the need for K-1 forms.
I used to do my own taxes before I went into business....
But I listened to my district sales manager who believed you should spend your work time doing what you do to make money & hire the professionals to do what they do....
And since that time, I have always used a tax professional to do my taxes....
I do too. Too much to know and too easy to code things wrong and too easy to cause red flags that can be avoided.
