IslandGuy
Registered Member
When I was part of a small corporation, I used tax software for all our tax returns and was completely satisfied with the quality of what they did and the fact that I didn't have to figure out depreciation amounts and we didn't have to pay an accountant a lot more than the $100 the software cost us to do the corporate tax account.
Of course, we were a small corporation and in our state there was a special class for small corps versus the big guys, so the rules weren't as onerous, but it worked fine for the feds too.
Does anyone know or have experience as to when it becomes the point to bring an accountant in, assuming you are growing the business? Is it at a certain income amount or if you have inventory (we didn't) or employees (we didn't) or some other key factor that makes an accountant for your business taxes the best alternative (or a lawyer who does taxes too!)?
I hope someday to build things back up again enough to incorporate and put some of my other ideas into practice and hopefully have at least as much success as in a prior lifetime, but never got past the "baby steps" of our 3-man corp. So any advice would be welcome (or "war stories" too
)
Of course, we were a small corporation and in our state there was a special class for small corps versus the big guys, so the rules weren't as onerous, but it worked fine for the feds too.
Does anyone know or have experience as to when it becomes the point to bring an accountant in, assuming you are growing the business? Is it at a certain income amount or if you have inventory (we didn't) or employees (we didn't) or some other key factor that makes an accountant for your business taxes the best alternative (or a lawyer who does taxes too!)?
I hope someday to build things back up again enough to incorporate and put some of my other ideas into practice and hopefully have at least as much success as in a prior lifetime, but never got past the "baby steps" of our 3-man corp. So any advice would be welcome (or "war stories" too