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Taxes

MULDOON

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I saw another post about Taxes, I've been wanting to ask so ,, here it is..
Do ya'll do your own taxes , I've been doing our own for the last 4 or 5 years, We went to one of those Franchise " fast food types" I think it was H &R?, Anyway we decided we could do better ourselves with Turbo Tax.
Done all right so far , but I'm starting to feel like I could be better off with someone with more knowledge about ranch & farming.

Does any one know of a reliable " good" tax person , in the Central Texas area? Fayette or surrounding counties???
Thanks a lot!!!
 

dun

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A CPA that is familiar with farm/agriculture will cost a lot more then turbo-tax, but what the save you will more then make up for the difference. It generally has run about 1000-1500 a year more in refunds then turbo tax.

dun
 

dun

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The best method we found of getting hooked up with a good CPA was to ask around of the folks that are having theirs done. Word of mouth is still the most reliable source.

dun
 

Craig-TX

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dun":1qjq7ytk said:
A CPA that is familiar with farm/agriculture will cost a lot more then turbo-tax, but what the save you will more then make up for the difference.dun

True, true. The Schedule F is a beautiful thing.

Craig-TX
 

Running Arrow Bill

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CPA's don't cost that much, considering all the service they can provide. Ours keep extensive computerized records of all our capital purchases (breeding stock, buildings & structures, equipment, improvements) and extensive depreciation records. Each year we get a pre-printed worksheet where we add the current year's tax items. The documentation we get back with our Tax Return is about 35-40 pages of very relevant detail.

For our operation, our annual bill ususally runs $500 to $600. Small price to pay for IRS peace-of-mind.

We use George, Morgan & Sneed, PC., in Weatherford, TX. http://www.gms-cpa.com They also have a lot of "tax information" you can look at on their website. (Note: we are not recommending them or offering any tax advice to anyone and have no financial interest in their business).
 

txag

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we also use a cpa. i pretty much have everything categorized & ready & he just plugs in the numbers for the basic stuff. it's well worth the price for all the extras he does......depreciation, etc.
 

TheBullLady

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We also use a CPA.. oddly enough, that's the only thing we couldn't leave behind when we moved from Illinois to Texas. He's been doing our taxes through two businesses and the ranch. Used to work for the IRS, which has been an added benefit! Definately suggest a CPA.. they are well worth the $$
 
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