tmm99
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 15, 2008
- Messages
- 5,224
Do you have a tax advisor? Would you have one if you weren't financially savvy (=me)?
I have a CPA I go to for my taxes (I messed up something when I started tIRA/Roth IRA conversion, and I also messed up with selling some stocks, so I have been going to a CPA the last few years. I actually don't even show up - I just collect all the info he will need and I send the info to him) but all he does is yearly taxes for me - you know, just filling out the form and send it. I asked him this year if there was anything I should be doing differently, he answered that there is not a lot I can do short of earning less money. I am barely itemizing since I do not own a home = no mortgage interest/property taxes I can deduct, and I am already maxing out my 401K. He suggested I increase charitable contribution.
Anyway, do you get tax advice when you do taxes each year (This is a question for not so financially savvy like myself - if you do taxes yourself, obviously this question won't apply to you.) or you have a tax advisor you go to at a non-tax time?
It really didn't matter much when I had no money at all, but now that I have a little, I am thinking maybe there are other things I should be doing. Also you guys helped me understand that there are more advantageous ways (tax wise) to sell my stocks/funds vs maybe using the default FI/FO, I thought I'd ask if I should get a tax advisor separately from my yearly tax guy. BTW, I paid $340 this year for tax prep (I realize the guy has to type a lot because I have a lot of after tax gains etc that I need to report, but I think I can save money by going to H&R block or something.. This is bay area though - everything costs a lot.)
I have a CPA I go to for my taxes (I messed up something when I started tIRA/Roth IRA conversion, and I also messed up with selling some stocks, so I have been going to a CPA the last few years. I actually don't even show up - I just collect all the info he will need and I send the info to him) but all he does is yearly taxes for me - you know, just filling out the form and send it. I asked him this year if there was anything I should be doing differently, he answered that there is not a lot I can do short of earning less money. I am barely itemizing since I do not own a home = no mortgage interest/property taxes I can deduct, and I am already maxing out my 401K. He suggested I increase charitable contribution.
Anyway, do you get tax advice when you do taxes each year (This is a question for not so financially savvy like myself - if you do taxes yourself, obviously this question won't apply to you.) or you have a tax advisor you go to at a non-tax time?
It really didn't matter much when I had no money at all, but now that I have a little, I am thinking maybe there are other things I should be doing. Also you guys helped me understand that there are more advantageous ways (tax wise) to sell my stocks/funds vs maybe using the default FI/FO, I thought I'd ask if I should get a tax advisor separately from my yearly tax guy. BTW, I paid $340 this year for tax prep (I realize the guy has to type a lot because I have a lot of after tax gains etc that I need to report, but I think I can save money by going to H&R block or something.. This is bay area though - everything costs a lot.)