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While I generally agree with and recommend getting an accountant, I've found a personal satisfaction over the past 8 years of doing my own taxes (10 years of fr
by enobrev 15y ago
While I generally agree with and recommend getting an accountant, I've found a personal satisfaction over the past 8 years of doing my own taxes (10 years of freelance development). It can be tedious and confusing, but it forces me to stay in tune with the laws as well as my own income / expenses.
It doesn't hurt that it costs far less than an accountant, although that time can be considered lost considering the billable time lost gathering information, adding it all up and entering it properly (Mint.com has shaven days off of this process for me).
Every year I tell myself I'll go back to having an accountant, but then I feel I'll miss that couple days of better understanding where my money came from and where it's gone. I also appreciate understanding the details behind the chunk I send to Uncle Sam.
- tptacek 15y agoSome people are like you. I suspect more people are like me. If you're not sure whether you're going to enjoy / be good at doing your own taxes, screwing them up is not a good way to find out. I managed to get myself into quite an annoying hole by not delegating this particular business problem.
- juddlyon 15y agoInteresting perspective. +1 for using Mint.com for business - my partner set us up and it's a great way to get a global view of the inflows and and outflows. I've gone the opposite route (hired an accountant) and feel I have a much better understanding of what's going on than when I did it myself. I have the accountant walk me through everything - no more guessing my way through Turbotax and having an anxiety attack each April.
- thejteam 15y agoI asked my lawyer about this when setting up my LLC. He told me to get an accountant for the first year, watch what they do, and then you'll be able to do it yourself every year after that.