Income Tax '13

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Originally Posted by Bobby V

Having a rental in Havasu and a home in Yorba Linda. No way I could do it myself with all the write offs that I get. $350.00 well spent.

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I am sure your CPA tells you this (I am not one and this is not tax advice :wink2:) but if you ever have any problems with your Adjusted Gross Income being to high causing you to hit the Phaseout Limit (limiting your Real Estate Losses) if you do a little planning through you and your wife's 401(k) plans or other retirement plans you may be able to get your AGI low enough to stay under the Phaseout Limit.

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Originally Posted by GRADS

78Southwind that is exactly why I pay a CPA!. My taxes are fairly simple now but the past decade has been a little different. My CPA got me back over 6 figures between '09-'11.

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It doesn't sound like you need a CPA ....it sounds like you need some protection. I think I have the perfect guy for you his name is Pizzo.

Well, we met with our CPA today and for the first time in a long time we owe. :( At least it's not too much.

I forgot to call my C.P.A. in June. I have to pay in because I don't have alimony write offs (which kicked ass) and I streamlined my house so I gotta pay in. WHATEVER no prob. And GRADS if your C.P.A. is your buddy and he or she is Boning you for $300.00 you are getting screwed.

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Originally Posted by SBS933

And GRADS if your C.P.A. is your buddy and he or she is Boning you for $300.00 you are getting screwed.

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That's okay, I charged him 50K for a pool. ;)

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Originally Posted by GRADS

Well, we met with our CPA today and for the first time in a long time we owe. :( At least it's not too much.

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Will that come out of the boat fund since a refund would have gone in it?

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Originally Posted by GRADS

That's okay, I charged him 50K for a pool. ;)

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hahahaha

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Originally Posted by Mateo

Will that come out of the boat fund since a refund would have gone in it?

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Actually no because at the beginning of last year we set some money aside to pay for this years taxes and it ended up being too much. :thumbup: So we will still be adding to the boat fund.

I did my own for 20 years, but when I started contracting, that stopped!

Working in different States, and having 1099 employees (back then) made it impossible for me to do them in a proficient manner.

I use a CPA that also has pro-sports clients, so she is the pro at multi State income, work related temp residencies, various State income tax rates and applications etc. and the associated expense deductibles.

returns are but a distant memory.

I dropped mine off Monday evening, got a call about an hour ago with some bad news, I'll be reviewing my books again, I must have forgotten quite a few things, LOL!!

I go twice a year to be properly prepared!

I just found my $11 state refund check from last year. :)