OT: CPA

[sdduuuude]

There is a distinction between a CPA and an accountant that is not a CPA. A CPA can practice in front of the IRS. An accountant who is not a CPA may not practice in front of the IRS, but that doesn’t mean they aren’t good at preparing taxes, and they are likely less expensive.

I use an accountant who was once a CPA but let his license expire because he never really needed the CPA title.

If I ever get audited and I need someone to represent me, I would have to hire another individual – a CPA – to do so.

[UCGal]

[quote=carlsbadworker]Since quite a few loyal piggs have bought homes recently, I think this question will come up one day or another: do you really need a CPA to do your tax return as an homeowner? As a renter, my tax return used to be super-easy, W2 income minus standard deduction, and that’s it. So I never used a CPA before, is the service worthwhile or I should just continue use my tax software?
[/quote]

Back to the original question… Unless there were complications with the home sale transaction – turbotax or taxcut are both fine for doing your taxes. I’ve only used a CPA once – a year I sold and bought a house, relocated across the country, and had some tax gross up issues. (back when corporations paid for relo’s). She made mistakes. Being a “trust but verify” type of person I input it into turbo tax to double check things. When I asked her about the discrepancies -she agreed that turbotax was correct.

The real work with doing your taxes is getting all your documentation together and making sure you have everything. You have to do this for a CPA or for turbotax/taxcut.

If I had my own business, with lots of 1099’s, capital depreciation, etc… I’d probably hire an expert. But for a fairly straightforward tax return with home ownership… eh, do it yourself with a good tax package.

[UCGal]

[quote=carlsbadworker]Since quite a few loyal piggs have bought homes recently, I think this question will come up one day or another: do you really need a CPA to do your tax return as an homeowner? As a renter, my tax return used to be super-easy, W2 income minus standard deduction, and that’s it. So I never used a CPA before, is the service worthwhile or I should just continue use my tax software?
[/quote]

Back to the original question… Unless there were complications with the home sale transaction – turbotax or taxcut are both fine for doing your taxes. I’ve only used a CPA once – a year I sold and bought a house, relocated across the country, and had some tax gross up issues. (back when corporations paid for relo’s). She made mistakes. Being a “trust but verify” type of person I input it into turbo tax to double check things. When I asked her about the discrepancies -she agreed that turbotax was correct.

The real work with doing your taxes is getting all your documentation together and making sure you have everything. You have to do this for a CPA or for turbotax/taxcut.

If I had my own business, with lots of 1099’s, capital depreciation, etc… I’d probably hire an expert. But for a fairly straightforward tax return with home ownership… eh, do it yourself with a good tax package.

[UCGal]

[quote=carlsbadworker]Since quite a few loyal piggs have bought homes recently, I think this question will come up one day or another: do you really need a CPA to do your tax return as an homeowner? As a renter, my tax return used to be super-easy, W2 income minus standard deduction, and that’s it. So I never used a CPA before, is the service worthwhile or I should just continue use my tax software?
[/quote]

Back to the original question… Unless there were complications with the home sale transaction – turbotax or taxcut are both fine for doing your taxes. I’ve only used a CPA once – a year I sold and bought a house, relocated across the country, and had some tax gross up issues. (back when corporations paid for relo’s). She made mistakes. Being a “trust but verify” type of person I input it into turbo tax to double check things. When I asked her about the discrepancies -she agreed that turbotax was correct.

The real work with doing your taxes is getting all your documentation together and making sure you have everything. You have to do this for a CPA or for turbotax/taxcut.

If I had my own business, with lots of 1099’s, capital depreciation, etc… I’d probably hire an expert. But for a fairly straightforward tax return with home ownership… eh, do it yourself with a good tax package.

[UCGal]

[quote=carlsbadworker]Since quite a few loyal piggs have bought homes recently, I think this question will come up one day or another: do you really need a CPA to do your tax return as an homeowner? As a renter, my tax return used to be super-easy, W2 income minus standard deduction, and that’s it. So I never used a CPA before, is the service worthwhile or I should just continue use my tax software?
[/quote]

Back to the original question… Unless there were complications with the home sale transaction – turbotax or taxcut are both fine for doing your taxes. I’ve only used a CPA once – a year I sold and bought a house, relocated across the country, and had some tax gross up issues. (back when corporations paid for relo’s). She made mistakes. Being a “trust but verify” type of person I input it into turbo tax to double check things. When I asked her about the discrepancies -she agreed that turbotax was correct.

The real work with doing your taxes is getting all your documentation together and making sure you have everything. You have to do this for a CPA or for turbotax/taxcut.

If I had my own business, with lots of 1099’s, capital depreciation, etc… I’d probably hire an expert. But for a fairly straightforward tax return with home ownership… eh, do it yourself with a good tax package.

[UCGal]

[quote=carlsbadworker]Since quite a few loyal piggs have bought homes recently, I think this question will come up one day or another: do you really need a CPA to do your tax return as an homeowner? As a renter, my tax return used to be super-easy, W2 income minus standard deduction, and that’s it. So I never used a CPA before, is the service worthwhile or I should just continue use my tax software?
[/quote]

Back to the original question… Unless there were complications with the home sale transaction – turbotax or taxcut are both fine for doing your taxes. I’ve only used a CPA once – a year I sold and bought a house, relocated across the country, and had some tax gross up issues. (back when corporations paid for relo’s). She made mistakes. Being a “trust but verify” type of person I input it into turbo tax to double check things. When I asked her about the discrepancies -she agreed that turbotax was correct.

The real work with doing your taxes is getting all your documentation together and making sure you have everything. You have to do this for a CPA or for turbotax/taxcut.

If I had my own business, with lots of 1099’s, capital depreciation, etc… I’d probably hire an expert. But for a fairly straightforward tax return with home ownership… eh, do it yourself with a good tax package.

[renterclint]

[quote=sdduuuude]There is a distinction between a CPA and an accountant that is not a CPA. A CPA can practice in front of the IRS. An accountant who is not a CPA may not practice in front of the IRS, but that doesn’t mean they aren’t good at preparing taxes, and they are likely less expensive.
[/quote]

I am a CPA. I used to work for a big firm. I worked in tax & then moved over to audit. Now I work in private industry. You do NOT need a CPA license to represent a client in front of the IRS.

The CPA license was created to allow for independent attestation engagements. The CPA license provides an accountant with the right to audit or review a company as a certified independent party. That’s it. The CPA license itstelf has very little to do with tax preparation. There is a small portion of the CPA exam that addresses individual & corp tax prep, but the license is absolutley not required for be a recognized agent by the IRS.

For simple returns, if you have W2 wages & a schedule A a CPA will basically do the same thing you would do in preparing the return. He drops the numbers into the software & out comes a return. Granted the programs we use (like Lacerte) are very sophisticated & perform diagnostics that is well beyond the turbotax caliber software. For simple returns, you’re getting piece of mind that your return is most likely done correctly & you personally don’t have to hassle with preparing the return yourself.

Where a taxCPA really earns his keep is in the planning process – advising clients before making business decisions that have considerable tax implications. They are absolutely invaluable for planning & preparing complex returns.

But for a return like the one described at the beginning of this thread, once the year is over, we’re all just reporting on historical items. You have your pile of W2s & 1099s, the CPA will do basically the same thing you are going to do. They don’t have a magic wand.

[renterclint]

[quote=sdduuuude]There is a distinction between a CPA and an accountant that is not a CPA. A CPA can practice in front of the IRS. An accountant who is not a CPA may not practice in front of the IRS, but that doesn’t mean they aren’t good at preparing taxes, and they are likely less expensive.
[/quote]

I am a CPA. I used to work for a big firm. I worked in tax & then moved over to audit. Now I work in private industry. You do NOT need a CPA license to represent a client in front of the IRS.

The CPA license was created to allow for independent attestation engagements. The CPA license provides an accountant with the right to audit or review a company as a certified independent party. That’s it. The CPA license itstelf has very little to do with tax preparation. There is a small portion of the CPA exam that addresses individual & corp tax prep, but the license is absolutley not required for be a recognized agent by the IRS.

For simple returns, if you have W2 wages & a schedule A a CPA will basically do the same thing you would do in preparing the return. He drops the numbers into the software & out comes a return. Granted the programs we use (like Lacerte) are very sophisticated & perform diagnostics that is well beyond the turbotax caliber software. For simple returns, you’re getting piece of mind that your return is most likely done correctly & you personally don’t have to hassle with preparing the return yourself.

Where a taxCPA really earns his keep is in the planning process – advising clients before making business decisions that have considerable tax implications. They are absolutely invaluable for planning & preparing complex returns.

But for a return like the one described at the beginning of this thread, once the year is over, we’re all just reporting on historical items. You have your pile of W2s & 1099s, the CPA will do basically the same thing you are going to do. They don’t have a magic wand.

[renterclint]

[quote=sdduuuude]There is a distinction between a CPA and an accountant that is not a CPA. A CPA can practice in front of the IRS. An accountant who is not a CPA may not practice in front of the IRS, but that doesn’t mean they aren’t good at preparing taxes, and they are likely less expensive.
[/quote]

I am a CPA. I used to work for a big firm. I worked in tax & then moved over to audit. Now I work in private industry. You do NOT need a CPA license to represent a client in front of the IRS.

The CPA license was created to allow for independent attestation engagements. The CPA license provides an accountant with the right to audit or review a company as a certified independent party. That’s it. The CPA license itstelf has very little to do with tax preparation. There is a small portion of the CPA exam that addresses individual & corp tax prep, but the license is absolutley not required for be a recognized agent by the IRS.

For simple returns, if you have W2 wages & a schedule A a CPA will basically do the same thing you would do in preparing the return. He drops the numbers into the software & out comes a return. Granted the programs we use (like Lacerte) are very sophisticated & perform diagnostics that is well beyond the turbotax caliber software. For simple returns, you’re getting piece of mind that your return is most likely done correctly & you personally don’t have to hassle with preparing the return yourself.

Where a taxCPA really earns his keep is in the planning process – advising clients before making business decisions that have considerable tax implications. They are absolutely invaluable for planning & preparing complex returns.

But for a return like the one described at the beginning of this thread, once the year is over, we’re all just reporting on historical items. You have your pile of W2s & 1099s, the CPA will do basically the same thing you are going to do. They don’t have a magic wand.

[renterclint]

[quote=sdduuuude]There is a distinction between a CPA and an accountant that is not a CPA. A CPA can practice in front of the IRS. An accountant who is not a CPA may not practice in front of the IRS, but that doesn’t mean they aren’t good at preparing taxes, and they are likely less expensive.
[/quote]

I am a CPA. I used to work for a big firm. I worked in tax & then moved over to audit. Now I work in private industry. You do NOT need a CPA license to represent a client in front of the IRS.

The CPA license was created to allow for independent attestation engagements. The CPA license provides an accountant with the right to audit or review a company as a certified independent party. That’s it. The CPA license itstelf has very little to do with tax preparation. There is a small portion of the CPA exam that addresses individual & corp tax prep, but the license is absolutley not required for be a recognized agent by the IRS.

For simple returns, if you have W2 wages & a schedule A a CPA will basically do the same thing you would do in preparing the return. He drops the numbers into the software & out comes a return. Granted the programs we use (like Lacerte) are very sophisticated & perform diagnostics that is well beyond the turbotax caliber software. For simple returns, you’re getting piece of mind that your return is most likely done correctly & you personally don’t have to hassle with preparing the return yourself.

Where a taxCPA really earns his keep is in the planning process – advising clients before making business decisions that have considerable tax implications. They are absolutely invaluable for planning & preparing complex returns.

But for a return like the one described at the beginning of this thread, once the year is over, we’re all just reporting on historical items. You have your pile of W2s & 1099s, the CPA will do basically the same thing you are going to do. They don’t have a magic wand.

[renterclint]

[quote=sdduuuude]There is a distinction between a CPA and an accountant that is not a CPA. A CPA can practice in front of the IRS. An accountant who is not a CPA may not practice in front of the IRS, but that doesn’t mean they aren’t good at preparing taxes, and they are likely less expensive.
[/quote]

I am a CPA. I used to work for a big firm. I worked in tax & then moved over to audit. Now I work in private industry. You do NOT need a CPA license to represent a client in front of the IRS.

The CPA license was created to allow for independent attestation engagements. The CPA license provides an accountant with the right to audit or review a company as a certified independent party. That’s it. The CPA license itstelf has very little to do with tax preparation. There is a small portion of the CPA exam that addresses individual & corp tax prep, but the license is absolutley not required for be a recognized agent by the IRS.

For simple returns, if you have W2 wages & a schedule A a CPA will basically do the same thing you would do in preparing the return. He drops the numbers into the software & out comes a return. Granted the programs we use (like Lacerte) are very sophisticated & perform diagnostics that is well beyond the turbotax caliber software. For simple returns, you’re getting piece of mind that your return is most likely done correctly & you personally don’t have to hassle with preparing the return yourself.

Where a taxCPA really earns his keep is in the planning process – advising clients before making business decisions that have considerable tax implications. They are absolutely invaluable for planning & preparing complex returns.

But for a return like the one described at the beginning of this thread, once the year is over, we’re all just reporting on historical items. You have your pile of W2s & 1099s, the CPA will do basically the same thing you are going to do. They don’t have a magic wand.

[renterclint]

The sharpest tax CPA I know is in the Vista/Oceanside area of North County. He is absolutely honest, has high intergrity, is a border-line genius, & is quick. I believe his billing rates are very fair as well. Info below:

Mascari Craig M CPA
1905 Apple St
Oceanside, CA 92054
(760) 722-3555

[renterclint]

The sharpest tax CPA I know is in the Vista/Oceanside area of North County. He is absolutely honest, has high intergrity, is a border-line genius, & is quick. I believe his billing rates are very fair as well. Info below:

Mascari Craig M CPA
1905 Apple St
Oceanside, CA 92054
(760) 722-3555

[renterclint]

The sharpest tax CPA I know is in the Vista/Oceanside area of North County. He is absolutely honest, has high intergrity, is a border-line genius, & is quick. I believe his billing rates are very fair as well. Info below:

Mascari Craig M CPA
1905 Apple St
Oceanside, CA 92054
(760) 722-3555

[renterclint]

The sharpest tax CPA I know is in the Vista/Oceanside area of North County. He is absolutely honest, has high intergrity, is a border-line genius, & is quick. I believe his billing rates are very fair as well. Info below:

Mascari Craig M CPA
1905 Apple St
Oceanside, CA 92054
(760) 722-3555

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