I hope that anyone with income over $80K has the advice of a tax advisor. I can’t tell you how many things this guy comes up with, that I missed, at tax time, and how much good advice he gives me.
I took my sister, to him, after she and my mom had spent days filing her tax return. Both ladies are very intelligent. My mom is a math wiz and my sister a surgeon. The CPA found omissions on her federal return, and tripled her federal refund, plus found more she could deduct for the state. He also gave her some good advice. Cost: under $200 for everything.
I am surprised by how reluctant people are to consult with a laywer or tax advisor. If you haven’t seen a good tax advisor, you have a chance of overpaying on your taxes. Enough said.