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Non-Cattle Specific Topics
Every Thing Else Board
Tax preparer mistakes
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<blockquote data-quote="jkwilson" data-source="post: 634207" data-attributes="member: 969"><p>I've paid to have mine done twice, and it cost me money and aggravation both times. First time they messed up on carry over for conservation expenses when we had some ponds built, and the second time they set up the depreciation schedule for some cows at 25 years and didn't deduct my diesel receipts because they thought it was for my truck. Either go with a CPA with <strong>farm experience</strong> or do it yourself. Turbo Tax or similar programs really make it easy. I do it myself because I think you are crazy if you don't at least know how to do it. You can't understand the tax implications of things you do unless you really know how taxes work, and most people don't have any idea. First year was rough, but now it only takes me a couple of hours because I know what paperwork I need and the order I need it.</p></blockquote><p></p>
[QUOTE="jkwilson, post: 634207, member: 969"] I've paid to have mine done twice, and it cost me money and aggravation both times. First time they messed up on carry over for conservation expenses when we had some ponds built, and the second time they set up the depreciation schedule for some cows at 25 years and didn't deduct my diesel receipts because they thought it was for my truck. Either go with a CPA with [b]farm experience[/b] or do it yourself. Turbo Tax or similar programs really make it easy. I do it myself because I think you are crazy if you don't at least know how to do it. You can't understand the tax implications of things you do unless you really know how taxes work, and most people don't have any idea. First year was rough, but now it only takes me a couple of hours because I know what paperwork I need and the order I need it. [/QUOTE]
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