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Old 02-12-2015, 12:24 PM
 
Location: Portal to the Pacific
4,540 posts, read 4,427,671 times
Reputation: 5109

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I know for some of you that is the dumbest question.

Oh well.


Last year was the first year that we used a CPA, my husband set it up because he has a corporate discount. Before that we used H&R Block...

As some of you may know I have been trying to open roth IRA via backdoor. It's not working. I need to consult a CPA.

That's cool and all, I really need to do it anyway... but I'm not sure I want to go with the same person we used last year because I don't know him or how easy he is to work with.

I need someone who'll put up with all my questions and teach me how do understand these things.

How do CPAs work when you've got questions that are super tied to investment strategies? Do they charge by the answer? the hour? I just want to know what to expect and what the protocol for working with one.
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Old 02-12-2015, 12:54 PM
 
6,976 posts, read 4,221,577 times
Reputation: 7824
Do you mean how do you find one you like? Trial and error.

Most will do some tax planning with you, just ask if they want to do this at tax time or if they want to make a separate appointment.
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Old 02-12-2015, 01:00 PM
 
1,211 posts, read 1,700,137 times
Reputation: 1125
The CPA I know does free initial consultations. You should be able to find one where you can sit down, discuss your finances and questions, and they should be able to tell you whether or not they can do that type of work for you.
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Old 02-12-2015, 01:12 PM
 
Location: Clinton Township, MI
1,901 posts, read 1,309,130 times
Reputation: 2256
Quote:
Originally Posted by flyingsaucermom View Post
I know for some of you that is the dumbest question.

Oh well.


Last year was the first year that we used a CPA, my husband set it up because he has a corporate discount. Before that we used H&R Block...

As some of you may know I have been trying to open roth IRA via backdoor. It's not working. I need to consult a CPA.

That's cool and all, I really need to do it anyway... but I'm not sure I want to go with the same person we used last year because I don't know him or how easy he is to work with.

I need someone who'll put up with all my questions and teach me how do understand these things.

How do CPAs work when you've got questions that are super tied to investment strategies? Do they charge by the answer? the hour? I just want to know what to expect and what the protocol for working with one.
Depends on the CPA. Also not every CPA specializes in tax matters. For example, I was considering grabbing my CPA License as I have an Accounting Degree, there's a provision that would allow me to become a fully Licensed CPA even though I don't work in a direct Accounting, Tax nor Auditing role (I'm in Commercial Finance/Banking).

So you want to find a CPA that specializes in Small Business Taxation, a CPA or an Enrolled Agent (EA) would work as well again as long as both are Small Business Taxation specialists. What you are going to pay depends on the provider, the work involved, the area of the country you are in, how complicated your situation is, etc.
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Old 02-12-2015, 01:18 PM
 
Location: Vallejo
13,259 posts, read 14,696,806 times
Reputation: 11719
Ea.
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Old 02-12-2015, 01:19 PM
 
Location: southwestern PA
20,426 posts, read 35,004,391 times
Reputation: 38775
"How do you use a CPA? "

I don't.
We have an accountant that specialized in taxation to do our taxes.
We have a financial planner for investments.
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Old 02-12-2015, 03:12 PM
 
Location: 2016 Clown Car...fka: Wisconsin
738 posts, read 754,605 times
Reputation: 1175
When my taxes were simple, I did them myself and used H&R Block and it worked. Now that my financial life has become more "interesting" I have a tax accountant for preparing my taxes and future tax planning and a certified financial planner for investing. Both specialize in their own industry and that's just fine with me.

RVcook
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Old 02-12-2015, 06:30 PM
 
2,409 posts, read 2,433,930 times
Reputation: 1802
For those of you that use a CPA, how much do you pay them to prepare your tax filing? Do they certify the accuracy of the filing?
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Old 02-12-2015, 07:24 PM
 
Location: Raleigh NC
5,207 posts, read 4,386,640 times
Reputation: 12973
My Mom pays an accountant friend of my brother's $400 and change to do her taxes. It is utterly ridiculous. I put together the documentation for all her deductible expenses. By the time I've done that, the taxes are virtually completed. She thinks it is a big stinkin deal to do taxes...has no idea how simple Turbo Tax and the like make it. She insists on paying him to do it because her taxes are 'complicated' (they are no more complicated than mine, and frequently less complicated).
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Old 02-13-2015, 10:31 AM
 
Location: Somewhere in northern Alabama
16,601 posts, read 50,381,382 times
Reputation: 26868
The amount charged by a CPA is going to vary. As a starting point, figure about $500 for a tax return, $500 for a simple corporate return. The CPA signs the documents and is accountable for the preparation. However, if you do not provide the proper documentation to build the return, the onus still falls on you.

So that you won't be concerned, here is what an average visit to a CPA is like:


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