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Permalink Reply by Mark on December 28, 2010 at 9:18pm

I would say good luck on your own.  An accountant who knows small business tax prep will save you every dollar you pay to them.  Ask around and find out who other business owners are using.

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Permalink Reply by Steven K. on December 28, 2010 at 10:39pm

The accountant provides a service just as you do. They charge a fee that they believe is relative to the quality of work they provide.  Have you gone to the same accountant for a few years?  Is this the first price increase that's occurred?  Why not go and talk to them about the price and see if perhaps you can come up with a fair compromise.  Tax laws changed this year and you want the best return you can get.  Personally I used tax software for years and once we switched to an accountant, we saw an increase in the dollar figure of our return.  The software doesn't know how you run your business.  A good accountant can be an asset to a small business.

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Permalink Reply by Jason Shipley on December 29, 2010 at 3:33am

+1 I don't think there is a substitute for a good long term relationship with an accountant for the health of a small business. If you don't think that you're getting value out of your accountant start talking to some others and find one that will work for you.

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Permalink Reply by Gary T on December 29, 2010 at 4:13pm

Thanks for the replies.  I'm aware an accountant provides a service that requires compensation.  The essence of the question is if tax software can do the same thing for less.  My taxes aren't overly complicated.  I do all of the accounting and my tax preparer simply puts the figures in the correct forms.  I'm one, who if I can do it myself - I will.  I was just curious if anyone has had good success with tax software for their coffee business.

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Permalink Reply by Marek on December 29, 2010 at 4:58pm

Accountants are afraid of being sued, of loosing their license, of liability, of the IRS.

 

Any tax advantage that you might rightfully be entitled to will have to be discovered by YOU and only after overcome all of the above fears will you manage to talk your accountant into using any of them.

 

They are not the least bit creative, they belittle you for 'not maintaining your books properly'...

 

For who? For them, you're paying them, or for the IRS?

 

Ask an accountant 'anything'... ANYTHING that in any way will save you money... and you will only hear one word... NO... you can't do that...

 

OK and I hired you why... the IRS will do your taxes for free... REALLY, they will...

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Permalink Reply by Mike McGinness on December 29, 2010 at 5:09pm

I've used Turb0 Tax for years personal and businesses. Can't rightly say whether an accountant might be more creative at finding tax savings. Maybe yes, maybe no. Most just use software too, whether they're more adept at plugging in numbers just don't know. At $65 plus an hour they'd have to be mighty creative to be worth it to me. And I'm talking just an accountant, not CPA rates.

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Permalink Reply by Marshall Fuss on December 29, 2010 at 8:19pm

A good accountant will meet with you at least once a year and talk about where you have been and where you want to be. He/she will suggest ways to save money well before year end, so you can make the smartest moves first. He/she will look over your bookkeeper's shoulder and suggest ways to improve your record keeping.

 

If they just plug your numbers into software you could buy yourself, no they are not worth very much. But, a smart accountant is a business adviser and is invaluable.

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Permalink Reply by Dennis McQuoid on January 4, 2011 at 12:02pm

Marek, not maintaining your books properly can get you in a lot of trouble. I won't mention names but a well known coffee shop owner found out the hard way that you have to take care of the books. Friendly advice: Sounds to me like you really need an accountant. There's a reason they say you can't do that.

Marek said:

Accountants are afraid of being sued, of loosing their license, of liability, of the IRS.

 

Any tax advantage that you might rightfully be entitled to will have to be discovered by YOU and only after overcome all of the above fears will you manage to talk your accountant into using any of them.

 

They are not the least bit creative, they belittle you for 'not maintaining your books properly'...

 

For who? For them, you're paying them, or for the IRS?

 

Ask an accountant 'anything'... ANYTHING that in any way will save you money... and you will only hear one word... NO... you can't do that...

 

OK and I hired you why... the IRS will do your taxes for free... REALLY, they will...

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