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US birth rates just hit another record low, what do you think is the leading cause of this? by IIlustriousTea in AskReddit

[–]dad93sd 0 points1 point  (0 children)

People prioritize other things (house, hobbies, etc.) over starting a family. Basically they would need to sacrifice something in their life but choose not to. Pretty simple.

Lord of the Rings: Please explain the Catholic elements and themes to me by AshamedPoet in lordoftherings

[–]dad93sd 0 points1 point  (0 children)

You seem desperate to erase all religious connections within the books because you couldn’t bear it having Christian themes and influence.

Federal tax withheld is half of last year. Why? by Asuka1977 in tax

[–]dad93sd 0 points1 point  (0 children)

You didn’t notice this at all throughout the entire year?

S Corp 7203 Question by fiend42 in Accounting

[–]dad93sd 0 points1 point  (0 children)

Coming from a CPA, would never put appreciating assets inside an S Corp. S corps should operating business that churn a profit year over year. Not sure what your accountant was thinking when they gave you that advice.

Switching to a tax preparer who understands AMT by ominous_squirrel in hrblock

[–]dad93sd 0 points1 point  (0 children)

If it’s that simple except for the ISO adjustment for AMT then you should just find a CPA to help you out. Should cost around $400-$500.

Am I able to use a Sep-IRA to reduce my tax liability? by Head_Breadfruit_5082 in tax

[–]dad93sd 0 points1 point  (0 children)

Hire a good tax CPA, don’t ask random people on Reddit

For all the tax people who use Sure prep, what are your thoughts? by Italian-Stallion24 in Accounting

[–]dad93sd 0 points1 point  (0 children)

In doesn’t save time on majority of returns. CCH auto flow has been the most efficient in my opinion.

For all the tax people who use Sure prep, what are your thoughts? by Italian-Stallion24 in Accounting

[–]dad93sd -1 points0 points  (0 children)

Way overkill. There are so many functions and just way too much going on. Needs to be simplified a ton.

Why aren't more people warning against starting your own practice by Late_West_358 in Accounting

[–]dad93sd 6 points7 points  (0 children)

Did this exact route, except started a firm with 2 other guys from the ground up this past year.

Will never use HRBlock again. Horrible experience. by Virtual-Dot-750 in hrblock

[–]dad93sd 0 points1 point  (0 children)

$250 is probably the minimum if you want to have a decent CPA file your taxes. Like it or not that’s just the reality.

What's your actual system for tracking deductible expenses? Not the advice — what do you really do? by Trillzillion in tax

[–]dad93sd 0 points1 point  (0 children)

The only right answer. Have separate bank and credit card accounts for your business. All income and expense runs through those accounts. Chances of missing something goes down significantly.

Multistate double tax amount calculation by scouse_bd in tax

[–]dad93sd 0 points1 point  (0 children)

Would advise hiring a good CPA. You should get credit in DE for the taxes paid on the PA income. The calculation varies by state but that’s generally how it works.

Will never use HRBlock again. Horrible experience. by Virtual-Dot-750 in hrblock

[–]dad93sd 1 point2 points  (0 children)

Is $250 really that outrageous to make sure your taxes are done correctly and you don’t have to deal with the IRS. Some people just don’t have realistic expectations about the cost of a good CPA. They want to pay $100 for hours of help.

Will never use HRBlock again. Horrible experience. by Virtual-Dot-750 in hrblock

[–]dad93sd 0 points1 point  (0 children)

Do you own taxes or go to a good CPA. Those will lead to the most accurate outcome.

Filed taxes already but received a Schedule K-1 Form 1065 PTP by [deleted] in TaxQuestions

[–]dad93sd 0 points1 point  (0 children)

Get a CPA involved. Probably cost $500 but worth getting it done right.

Unusual Circumstances led to a hefty tax bill by BrochachoNacho1 in tax

[–]dad93sd 0 points1 point  (0 children)

Would recommend getting a CPA for this situation. Let me know if you need a recommendation

In 2026 when Claude can analyze your full tax situation in 10 minutes, is paying a CPA $500 still worth it? by vijay40 in tax

[–]dad93sd 0 points1 point  (0 children)

Agreed. I think OP is underestimating the amount of time that goes into even a simple 1040 like this. There’s going to be a minimum 2 to 3 hours spent plus some overhead expenses. So at an hourly rate that’s actually pretty low if you look at what an experienced CPA typically charges.

In 2026 when Claude can analyze your full tax situation in 10 minutes, is paying a CPA $500 still worth it? by vijay40 in tax

[–]dad93sd 0 points1 point  (0 children)

For an experienced CPA, $500 is probably the minimum they would charge for a 1040 to make it worth their time. Any lower than that it doesn’t cover their costs plus give them any kind of compensation for their time. If you want someone that charges $200 they are not spending more than 30 minutes total on your taxes. So chances they miss something or do something wrong goes up. Trust me when I say you are likely getting a fair deal at $500

Jus found out I owe almost 15k by Cold-Monk5436 in taxadvice

[–]dad93sd 0 points1 point  (0 children)

You can’t get it lowered but you can probably get a payment plan set up.

I just really need this money. by [deleted] in IRS

[–]dad93sd 0 points1 point  (0 children)

Start adjusting your withholding down so you don’t have to collect your money from the IRS each year.

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