Quoted from JustEverett:
As a CPA who has worked in the tax industry for 13 years, my advice is to use a local CPA you like and trust. We charge less than H&R and do a much better job. Plus we are around year round to discuss all aspects of our clients financial situations. I will even advise someone to use a free file software if there is absolutely no need for me. I always tell clients my goal is to save them more than I cost them over the course of our working relationship. *end of CPA plug*
A great CPA is just as awesome as a great attorney.
Anyway, when I was a kid my Dad used to take like 12 big paper bags to the CPA at the last minute. I know the CPA had to hate Dad for that, but he always did a great job, and he got Dad out of a very big bind one time.
I have used that CPA myself for almost 25 years now for corporate and personal. The old man has passed but his son is almost as good as he was.
And while Dad did all the bags at the last minute, I am so organized I fax about 7 sheets of paper(I fax because they are about 40 min each way drive), and I always have all my info in to them in mid January long before the rush comes in for them.
Dad made it hard on the CPA, I make it easy.
In 24 years they messed up one time, and a big penalty was even involved, and they said it was on them, fax them that paper, and they would take care of it and not charge me a dime.
I personally know, my CPA does awesome work, and stands 100% behind their work. And I can call them any business day of the year for advice about something, and I have never been charged one penny for the advice and help I get during the year.
I almost forgot, but 15 or 20 years ago I got a weird letter from the IRS and a check for like 13.00(I can not remember, but it was small), and I took that to my CPA and he laughed his ass off. He said something like the IRS had spent a lot of man hours reviewing my stuff for whatever reason and ended up having to pay me. He said something to the affect that the government spent about 400.00 on staff, to end up losing another 13.00 or whatever it was.
I am still behind on the 7 year rule for keeping receipts, just a few weeks ago I finally got rid of everything through 2004.
And I will admit, at first because of my Dad crap advice at first I would wait to the last minute and file extensions and bs. But that just is not me, never was.
Dad always waited to the last minute to pay any bill, or whatever else. I pay my bills the same day I get them.
As far as my CPA, he is a tad pricey, but has been well worth it. He saves me more than I pay him.
The biggest thing with the system that ticks me off is how bad things run together in the first quarter. Corporate due 3/15, then right after that first quarter due.
And in the first quarter I have tons on insurance bills and whatever due also, and high CPA bills, so first quarter of every year is always depressing with all the money going out.
3rd quarter kind of sucks also, I have rental houses so all the property tax going on then.
4th quarter, (and some 2nd quarter) I can breath and have a few bucks.
It is what it is and pretty much the same every year.
My best advice is to get it done asap so you can forget about it asap.
I keep notes on my keyboard about what I need to take care of, and I cross them out asap.
And while I send my CPA everything mid Jan., only because I am waiting for a few things in the mail. My personal and corporate #'s are always ready on New Years Day.