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The tax code is too complex. I've consulted professional tax accountants three times over the last decade. Professionals don't understand it either. The first
by sgtnoodle 4y ago
The tax code is too complex. I've consulted professional tax accountants three times over the last decade. Professionals don't understand it either.
The first one was an oaf in Los Angeles that charged me $500 to redo a back-of-the-envelope calculation I had already done.
The second one was an older lady in Silicon Valley. You would think she would have known how ISOs work, but she messed up the calculations anyway. There were no penalties, but she felt bad enough that she filed my taxes for free. She got cancer and retired 6 months later.
The third was a friend that prepares taxes for billionaires. His retainer is something like $15K per year. His software's calculations disagreed with my homemade spreadsheet by $40K. In April my spreadsheet ended up within a few thousand of TurboTax. He's still kicking himself over that...