4 ms·
When you hire someone to do your taxes, you are still liable. So learn how to do it yourself first!
by z3t4 10y ago
When you hire someone to do your taxes, you are still liable. So learn how to do it yourself first!
- intrasight 10y agoWhen you hire someone to fix your car, you are still liable (to have it break), so learn how to fix it yourself. When you hire someone to fix your body, you are still liable (to die), so better study all the medical textbooks and stay on top of latest research.
- z3t4 10y agoWhen your service station or doctor screws up they lose thier certificate. When your tax helper screws up you go to jail.
- AnimalMuppet 10y agoBut when your doctor screws up, you die.
- z3t4 10y agoIf you where required by the government to go through a monthly medical procedure witch could kill you, wouldn't it be wise to at least know the basics ?
- Spooky23 10y agoI don't think you should be downvoted, but I disagree. It's really easy to screw up trivial business tax returns if you don't know what you're doing.
- ryandrake 10y agoC = expected cost of screwup, P0 = probability I'll screw it up, P1 = probability an accountant will screw it up If (P0-P1) * C is more than what the accountant charges, I pay him to do it.
- z3t4 10y agoYou should also take into account how much it would cost you to review it and how much it would cost you if they screw up. Actually learning basic accounting and tax law is much easier then the calculation you just did.
- bbcbasic 10y agoThe z3t4 comment said "First". I take that as: learn how it should be done, hire the pro, but with the ability to question/review what they have done. Sounds like sage advice to me. Same goes for the mechanic or doctor... Assuming you have the time of course.
- z3t4 10y agoHaving basically zero turnover is a good time to learn and make mistakes. When your business grow you should of course hire someone, but then you can confirm that it's done properly. When it comes to taxes you can't simply claim ignorance. If you want to run a business you have to know at least the basics. Being a CEO and not knowing this stuff is embarrassing.