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Originally Posted by fishnut9
Ok so i dont know what to do now. I just realized that my wifes business writeoffs are actually deducted from her total income not the actual taxes. That only gives me a couple hundred dollars off. Does anyone know if this is true. She owes 5800$ to the government now here is my question. I want to go to hrblock then have them do the taxes for me. if i dont like the results can i back out for a second opinion. I have 3000 to go towards the taxes. After hr block i will see if i can get a accountant to check it out. Problem is what if he charges me 1000$ leaving me 2000$ for taxes only to have the same number pop up as hr block. Now im 1000$ short. Do accountants allow free evaluations or no. I just dont want to spend the money to get the same results.
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Yea, I know your pain my friend. I run two businesses, and had to learn alot of this the hard way also. The message is a little jumbled, but let me see if I can offer some assistance.
First, from what I gather, the business is registered under your wifes name alone? If so, the amount owing doesn't affect your taxes, only hers, and the gov't keeps taxes separate, even for married couples (though you can file together if you wish). A truly good business accountant will not look over your numbers for free, that goes without saying. Anyone willing do bend over backwards and so something free is either very nice, or very bad at what they do. Accountants are swamped during tax season, so the latter is more likely. HR Block can do very well for small business taxes. My wife used them with her home business. It was fast, easy, and I paid my accountant to look it over afterwards, and he said the return was almost exactly how he would have done it.
Why is HR Block bad? The same reason it is good. They service thousands of clients every day. They perform the same tasks every day, and can process your taxes swiftly. However to them you are a number, one of thousands that are in line behind you.
A real accountant does a good job, because his reputation is on the line.
Just remember that you aren't going to jail if you don't pay the government what you owe right away, you filed, and you will get a letter giving you your payment options. On that paper, you can call the offices and work something out if the options don't suit your financial state. The government doesn't want to put people in jail, they want to fine you, collect interest on money owed, and get paid. They will work with you, but try your best to pay it back asap, interest is the devil.
Dennis