It sounds so easy
– just drop the numbers into the return and let the computer do the thinking. A skilled preparer looks over the books carefully before churning out a return, recognizing pitfalls and avoiding them before getting a nastygram from the IRS. Avoiding unnecessary correspondence is one of the many ways a skilled tax practitioner can add a lot of value.
Employee or independent contractor? It’s not always what you and the worker agree to. What’s the most tax-efficient way to pay yourself? W-2, 1099, quarterly returns – the interactions between forms can provide opportunities as well as pitfalls.