The not so fun part...

[Brute 23]

... of the business... the paper work. I'm way behind on paper work. Got last years numbers off to the accountant today before she starts sending us death threats. Got my spreadsheet built for the calf project. Trying to catch up on cow and calf inventory now since we worked and sold last week as well as making sure the hit list is up to date. I'm using this post to procrastinate a little more.

Its always hard to stop and do it... but it always feels good once its done. I like having recent info for reference to make plans going forward.

 

[gcreekrch]

... of the business... the paper work. I'm way behind on paper work. Got last years numbers off to the accountant today before she starts sending us death threats. Got my spreadsheet built for the calf project. Trying to catch up on cow and inventory now since we worked and sold last week as well as making sure the hit list is up to date. I'm using this post to procrastinate a little more.

Its always hard to stop and do it... but it always feels good once its done. I like having recent info for reference to make plans going forward.

Keep talking, you might coerce me into finishing last quarter.

 

[SBMF 2015]

I gave up and hired an accountant this year.
She does all the numbers and reports, leaving me to do what I do best. Working with cows.
I figure money well spent.

 

[coachg]

Started tonight getting our tax stuff together . Wife and I have a cardboard box under the computer table . All receipts go in the box . All farm and mowing stuff goes on the left end of the table and personal stuff on the right. Got most of the personal receipts sorted . Tax appointment mid March .

 

[farmerjan]

I have always liked doing paperwork.... I was the kid in school that did not mind the "busy work".... just leave me alone if you want it done... don't interrupt me a dozen times...

 

[Brute 23]

I gave up and hired an accountant this year.
She does all the numbers and reports, leaving me to do what I do best. Working with cows.
I figure money well spent.

It is but you still have to watch them. I find errors regularly from ours on the ranch stuff. She is a good accountant but over plays her ability to understand ranch related transactions. She will email out a list of transactions with questions like... what is this for...and hates when I ask her to say to why she is asking. It has gotten pretty heated at times. She has to be put back in her lane every so often.

 

[Travlr]

I gave up and hired an accountant this year.
She does all the numbers and reports, leaving me to do what I do best. Working with cows.
I figure money well spent.

The last time I hired an accountant she sent me a bill for over $800... and she didn't even send any Vaseline with it. I told her where she could stick it.

I bought a Turbo Tax for fifty bucks and did it myself in about four hours with coffee breaks. I'd already gotten all the paperwork gathered for the accountant, so all I needed to do was enter the numbers into the program. And the bottom line was only $15 difference on the taxes I owed, so I came out money ahead.

 

[BFE]

My accountant was born on the farm, feeds the family cows every day, is bitten by the cattle bug himself. Nice to have one that understands the farm.

 

[ClinchValley86]

My accountant was born on the farm, feeds the family cows every day, is bitten by the cattle bug himself. Nice to have one that understands the farm.

I'd love to find one that was geared that way for some guidance.

 

[EasTex]

The last time I hired an accountant she sent me a bill for over $800... and she didn't even send any Vaseline with it. I told her where she could stick it.

I bought a Turbo Tax for fifty bucks and did it myself in about four hours with coffee breaks. I'd already gotten all the paperwork gathered for the accountant, so all I needed to do was enter the numbers into the program. And the bottom line was only $15 difference on the taxes I owed, so I came out money ahead.

That's what I do. Turbo Tax is pretty easy to use. Last accountant I used was just imputing my information into Turbo Tax. I figured hell I can do that myself and save some money.

 

[SBMF 2015]

The last time I hired an accountant she sent me a bill for over $800... and she didn't even send any Vaseline with it. I told her where she could stick it.

I bought a Turbo Tax for fifty bucks and did it myself in about four hours with coffee breaks. I'd already gotten all the paperwork gathered for the accountant, so all I needed to do was enter the numbers into the program. And the bottom line was only $15 difference on the taxes I owed, so I came out money ahead.

Oh it's not cheap but I literally don't have time. In my situation it's a good expense.
Not only does she do my tax work she also does my balance sheet and other stuff my bank requires. When I get ready to talk to my banker about operating money my accountant e-mails my information to them. In a format they like.

If turbo tax works for you, that's great. But it didn't for me.

 

[TCRanch]

The last time I hired an accountant she sent me a bill for over $800... and she didn't even send any Vaseline with it. I told her where she could stick it.

That's a bargain. And I spend quality time updating expense spreadsheets throughout the year in addition to completing the questionnaire and Form 4835.

 

[TCRanch]

We have a 16-year-old neighbor kid that works for us on the weekends and pay him in cash. Turns out he'll be taxed at 13%. Hard for kids that age to save back enough to pay their taxes, as opposed to working at McDonalds (or wherever) when taxes are deducted from their paycheck. Especially when the parents are deep in debt; they never learned or had guidance. Anyway, we gave him a raise, we're having our CPA do his taxes and we'll pay the taxes he owes. But only this year! Hopefully he'll learn how to better manage money.

 

[Travlr]

That's a bargain. And I spend quality time updating expense spreadsheets throughout the year in addition to completing the questionnaire and Form 4835.

$800 is not a bargain if a fifty dollar program will do the same thing with the same results.

 

[greybeard]

The last time I hired an accountant she sent me a bill for over $800... and she didn't even send any Vaseline with it. I told her where she could stick it.

Did you send HER any Vaseline?

 

[Ky hills]

We got ours ready and turned in first of February. Probably a record time for us.

 

[greybeard]

She will email out a list of transactions with questions like... what is this for...and hates when I ask her to say to why she is asking. It has gotten pretty heated at times. She has to be put back in her lane every so often

Been there and done it.

Some stuff, they just have no business knowing.. (But I think Crown Royal is a legit expense if ya use it to bribe the dozer operator to work a couple more hours a day. I didn't know he was gonna drink it while running the thing. Knocked down about 75' of new fence late one day)

 

[tex452]

I don't think my accountant likes me much.

 

[1982vett]

Waiting on one document and ours will be ready to go. Going to owe this year....

 

[kenny thomas]

Been there and done it.

Some stuff, they just have no business knowing.. (But I think Crown Royal is a legit expense if ya use it to bribe the dozer operator to work a couple more hours a day. I didn't know he was gonna drink it while running the thing. Knocked down about 75' of new fence late one day)

Do you think i can claim liquid corn?