Comments on: How to pick an accountant for yourself (or your business) http://www.resultsjunkies.com/blog/how-to-pick-an-accountant-for-yourself-or-your-business/ A brief guide to getting ahead in life. Whether it's pay, power or prestige, I'll help you make the big leap. Mon, 24 Aug 2009 05:13:03 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Samir http://www.resultsjunkies.com/blog/how-to-pick-an-accountant-for-yourself-or-your-business/comment-page-1/#comment-296 Samir Tue, 02 Sep 2008 02:44:33 +0000 http://www.resultsjunkies.com/?p=416#comment-296 I totally agree with you Paul. At first I used to be a huge fan of using one of those off the shelf tax preparation software packages, but I eventually went to a CPA who I was referred to by someone I trust. Once I saw the figures the CPA came up with I knew I made the right move to go to an accountant. Plus she was willing to explain her calculations rather than make a client think that her numbers were randomly calculated. Great tips on picking an accountant! I totally agree with you Paul. At first I used to be a huge fan of using one of those off the shelf tax preparation software packages, but I eventually went to a CPA who I was referred to by someone I trust. Once I saw the figures the CPA came up with I knew I made the right move to go to an accountant. Plus she was willing to explain her calculations rather than make a client think that her numbers were randomly calculated. Great tips on picking an accountant!

]]> By: Alex Benke http://www.resultsjunkies.com/blog/how-to-pick-an-accountant-for-yourself-or-your-business/comment-page-1/#comment-291 Alex Benke Mon, 01 Sep 2008 19:38:16 +0000 http://www.resultsjunkies.com/?p=416#comment-291 Hi Paul Great post, I totally agree with your views on letting a pro do the work - they are more efficient and mistakes can cost you. I'd say you definitely need to watch out for CPAs who are TOO willing to bend the rules - you don't want to get into trouble either. If any of their strategies involve not showing all your (non-cash) income, then run for cover. Shades of gray apply to deductions, but NOT to income reporting (with a caveat for cash businesses). The IRS has automatic checks for income reporting (among other things), and once you get audited you have more chance of getting audited in the future. The other thing is, just because an accountant signs their name to your return doesn't mean they are liable for what's in the return. Mistakes, fudging and overzealous rule-bending are all ultimately the taxpayer's responsibility. All the more reason to make sure you have someone who is good, but honest as well. Cheers Alex Benke, CFP Hi Paul

Great post, I totally agree with your views on letting a pro do the work – they are more efficient and mistakes can cost you.

I’d say you definitely need to watch out for CPAs who are TOO willing to bend the rules – you don’t want to get into trouble either. If any of their strategies involve not showing all your (non-cash) income, then run for cover. Shades of gray apply to deductions, but NOT to income reporting (with a caveat for cash businesses). The IRS has automatic checks for income reporting (among other things), and once you get audited you have more chance of getting audited in the future.

The other thing is, just because an accountant signs their name to your return doesn’t mean they are liable for what’s in the return. Mistakes, fudging and overzealous rule-bending are all ultimately the taxpayer’s responsibility. All the more reason to make sure you have someone who is good, but honest as well.

Cheers
Alex Benke, CFP

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