My tax records have all been sent to the accountant. Let me say that I am against the stimulus checks. With that being said, no one is listening, so my goal is to maximize my chances of receiving whatever they are going to hand out. So that is the instruction that my accountant has been given:

Find a way for us to legally get as much of that money as we can while limiting our tax exposure. If that means that I have to claim all of the income from our business ventures and investments, and then we file separately so at least one of us gets the money, then so be it.

So the accountant tells me that she will run different scenarios to see which way and what deductions will result in the best financial situation. That is why we pay her, after all.

Categories: economicsMe


Jonathan · March 3, 2021 at 1:28 pm

I’ve used an accountant/ tax professional for years.
I’ve compared my results to their results and they save me anywhere from several hundred to thousands in taxes a year.
Anyone who does taxes on their own, even with software, is giving the government money.
I haven’t gotten the first check yet… made too much money in 2018… but my accountant says there is a form to get it with this years taxes. I just got my final paperwork for 2020, I’m about to make copies and send it off to my accountant.

    Divemedic · March 3, 2021 at 1:55 pm

    I would also add that you should not use any of the big commercial tax prep companies like H&R Block, Jackson Hewitt. I would also steer clear of advocacy groups that do taxes on a volunteer basis. The employees of those firms have gotten a bare minimum of training. Not on taxes or tax law, but on how to use their company’s software. All they are trained to do is essentially type numbers into their company’s version of Turbotax.
    If your taxes are anything more than a W-2 or so, then you probably will benefit from an accountant.

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