I have prepared thousands of tax returns since 1969. I have prepared individual, corporate, fiduciary, and partnership tax returns for the last 40 years. I have seen the tax laws go through a myriad of changes.
When I first started preparing taxes, the maximum federal tax rate was 77%! (now it is only 37%, so that is good, thanks in large part to Ronald Reagan in the 80's, and now Donald Trump). On the other hand, when I first started doing taxes, the social security earnings ceiling was $7,800. Now it is $128,400. Many small business owners now pay more in social security tax than they do in income tax.
You have probably heard news stories about how the same set of numbers can be given to 10 different accountants, and you will get 10 different tax returns from these accountants.
This is probably true. You want to pick out the accountant that 1) gives you the lowest tax figure possible and 2) gives you a defensible tax return if you get audited. Balancing those two factors can require good judgement which years of experience can give.
If you want your tax return prepared, you should call me.
James J. Jackson
Attorney At Law, CPA
Mon - Fri: 9am - 8pm
Sat: 10am - 3pm
Sun: 11am - 4pm
Copyright © 2020 James J. Jackson, Attorney At Law, CPA. All Rights Reserved.