U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-14-2008, 10:50 AM
 
14 posts, read 55,246 times
Reputation: 14

Advertisements

I was told to pay $250 per hour if we need a tax advisor whom can show us what to look out for to seek for tax shelter and therefore save tax during tax filing season. Is there other places where we can seek for advise for free of charge or a lower cost?

all these years, we have an accountant whom will just do our tax, but not much advice unless I ask for specific questions. all the questions brought out was per my knowledge, I need more advice, advice in areas where I didn't know that could save us tax...please advice, I live in the Utah area. Thanks.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-14-2008, 11:30 AM
 
3,460 posts, read 5,322,533 times
Reputation: 6677
For over $4 a minute, it better be some good advice.....

Look at your situation, how complex your finances are, how much you make and have to pay in taxes. Maybe it will be worth an hour with the advisor, and when you do it, have everything put together to save time for the advisor and money for you. Just think of it as a one time expense that may pay you back $500 for your $250 investment. Or you might not get anything....

An option would be to take a copy of your taxes to several accountants and tell them that you're looking for an accountant who is proactive in helping you to save money. They'll probably look it over for free and tell you if there is anything you could be doing better. If any are outstanding, give them your business.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2008, 11:35 AM
 
24,839 posts, read 35,034,425 times
Reputation: 11513
It's a deduction next year. You get what you pay for.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2008, 05:39 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 12,739,838 times
Reputation: 4170
If you can type irs.gov then you don't really need a tax accountant unless your doing $1 million+ per year.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-14-2008, 07:15 PM
 
24,839 posts, read 35,034,425 times
Reputation: 11513
I do mine myself. Look at a schedule "C".
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-15-2008, 07:01 AM
 
Location: Forests of Maine
33,319 posts, read 54,648,545 times
Reputation: 23892
Quote:
Originally Posted by slcmo View Post
I was told to pay $250 per hour if we need a tax advisor whom can show us what to look out for to seek for tax shelter and therefore save tax during tax filing season. Is there other places where we can seek for advise for free of charge or a lower cost?

all these years, we have an accountant whom will just do our tax, but not much advice unless I ask for specific questions. all the questions brought out was per my knowledge, I need more advice, advice in areas where I didn't know that could save us tax...please advice, I live in the Utah area. Thanks.

That is high.

Keep in mind that you need to ask very specific questions of these guys.

1. How much did they gain from their investments for each of the past ten years?

2. Have they experienced any tax obligation for the past ten years?

A lot of 'advisors' earn a living from advising. Which does not indicate that they have any clue of how to: budget, invest, or tax-plan.

If your investments perform better than theirs do, then drop this guy.

If they are paying income taxes, then drop this guy [he has no clue].
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-07-2008, 05:21 PM
 
546 posts, read 2,077,213 times
Reputation: 158
Quote:
Originally Posted by forest beekeeper View Post
That is high.


If they are paying income taxes, then drop this guy [he has no clue].
I thought everyone will need to somehow pay some income taxes? who doesn't?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-07-2008, 06:09 PM
 
Location: Forests of Maine
33,319 posts, read 54,648,545 times
Reputation: 23892
Quote:
Originally Posted by hueimo View Post
I thought everyone will need to somehow pay some income taxes? who doesn't?
Uh, no.

I don't pay income taxes.

I know many folks who do not pay income taxes.

In fact according to the IRS website between 25% and 35% of the US 'taxpayers' do not pay income taxes [it varies each year].
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-07-2008, 06:21 PM
 
24,839 posts, read 35,034,425 times
Reputation: 11513
I do not either.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-07-2008, 06:40 PM
 
Location: Forests of Maine
33,319 posts, read 54,648,545 times
Reputation: 23892
We have a duty to file our 'taxes' each year, and to do our best to avoid paying.

I decide how to spend my money.

Only folks who do not really care about their money just allow the government to take 25% - 40% of it from them.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top