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RE: [artshow_photo] Re: Newbie question re Federal Income Tax on startup photography business

 

I agree that if you don't know what line items "mean", then no tax program
can help you. But to say that Turbo Tax is what you make it out to be is
just rubbish. As you said, taxes are rather simple to do, even with a
business. Self help tax programs are probably the worst thing that happened
to American accountants, I believe that.

And as I said, the IRS agent that audited my taxes loved the fact that I
used Turbo Tax and Quicken and instead of asking endless questions, he just
looked at my files and checked them. He also said, no offense, that the vast
majority of his audits are directed at tax returns made by hand by
accountants, not individuals.

FYI Turbo Tax runs the taxpayer through an interview process and links every
single line item to the appropriate IRS publication. If an individual knows
how to read and takes an interest in tax law and how it works, it shows you,
the taxpayer, all the hows and whys of every single item. Actually the first
few years I did my taxes this way it was kind of fun learning about all the
numbers and reading the IRS pubs.

If you understand how to do taxes, then Turbo Tax makes the process so
simple that mine are done in around three hours about the second week of
February each year.
If you don't understand how to do taxes, then by all means hire an
accountant.

So you account and I'll turbo, how's that.

Maria

[=o=]<>[=o=]<>[=o=]<>[=o=]
www.1000woodcuts.com
www.artfestivalguide.info
[=o=]<>[=o=]<>[=o=]<>[=o=]

>
> Maria also recomended using TurboTax. That program is pretty much the
> worst that that has ever happened to the American tax payer. Taxes are
> rather simple for me to do, but I say that having taken over 500 hours
> in tax classes. I make several thousand dollars each year fixing
> dozens of returns that TurboTax, Tax Act, Tax Slayer, etc, screwed up.
> There was a woman I worked with a couple of years ago, all she had was
> one W2. I stood behind her and watched her enter everything in.
> Unless you know what each deduction and credit is, and why you are or
> aren't eligable to get it, how could you possibly know if you actually
> did it right or not?


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