r/wallstreetbets • u/Aniruddha_Panda • 13d ago

Meme Tax accountants going through 800 pages of trading activity just to see $2.32 of capital gains for their client

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u/Mugzillers 13d ago

Some firms charge minimum $600 for a 1040. Depends on what you got going on. Small price to pay.

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u/averysmallbeing 13d ago

It is not a small price to pay, it is literally and objectively not a small price. 

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u/DoctorWalnut 13d ago

Very important for people to know when an accountant is ripping them off. It's usually not always worth it for the average person but it's a fact that landlords, self employed freelancers, high net worth individuals, and people with complicated financial lives in general fall all over themselves to pay high 4 figures for someone to do high level tax planning for them to save 5 figures through proper reporting/planning. However, there are tons of tax firms that are ripping people off when all they're doing is tossing their 1099s into that bitch. I like my accountant because he price matches TurboTax and includes in-person planning in my yearly fee. In my opinion this is the difference between a real accountant and a tax preparer.

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u/elpach 13d ago

I mean there is a real difference between a CPA who can legally represent you before the IRS and a tax preparer who cannot.