Quote:
Originally Posted by surfdoc
I would make a guess that if that is the case then one of you is not very good at your job.
No, I actually use a tax professional to file my returns and do all the calculations, but first I have to categorize all my expenses properly. He doesn't know if some computer equipment i bought last year was for the company I was consulting for, poker, my own business, or just personal use. And he doesn't know that I negotiated a direct stock sale with the director of a public company, or the price, it's just listed as if I took out the certificates on my brokerage statements. And some of the basis for my positions goes back 4 or 5 years to different accounts, some needs to be been adjusted for large one time dividends, etc. It's easy to miss or mis-understand just one of these things if you didn't live the year, and are just a grunt getting paid per hour by a tax firm to read a bunch of boring brokerage and CC statements, and that one thing can be very costly.
I've also found if you let your tax guy do all the work, they'll sometimes claim things that reduce your taxes slightly but are big audit red flags, those I prefer not to claim.