1099 docs: Do you have a CPA?

  1. I’m 1099 for 8 years. I got a CPA once and she didn’t do my taxes well. I do all my own taxes. It’s actually quite easy. I don’t recommend a CPA unless your taxes are extremely complicated or you have zero desire to do them yourself

  2. I have a CPA and I'm a 1099. He does my personal taxes and my corp taxes (S Corp) as well as my husband's business taxes. The money we pay him is worth it to me not to have to think about any of that stuff.

  3. To piggyback off this question... Can you be a 1099 but still be given malpractice by the hospital? Or can you work per diem and be 1099 since you don't receive benefits?

  4. Does your advice change any if both my wife and I are 1099 employees? Like I only recently realized we didnt need an S corp in order to do a (s)401k. Do we just open them individually? What exactly has to be done other than obtain an EIN in order to increase the max withholding allowed per year?

  5. The big decision is if you want to have the PLLC taxed as an S corp. A good CPA should be able to run the numbers and help you make an informed decision. (It's probably a good idea!)

  6. Yep sure do have a CPA. Don't want anything to do with it. I find it painful to even gather documents needed to send to CPA. I think it depends also on how "complicated" the rest of your situation is. My CPA does my business and my husband and Is personal taxes, we have rental property also and our pay structure is a little odd. Not worth my time and energy and then anxiety wondering if I did it right...

  7. My taxes are more complicated (married a foreigner who has a retirement fund that the US government likes to tax) and several sources of income so I pay someone to do it right. I did my taxes before all this and it wasn’t that hard but now I would rather pay someone to do it right and not have to sit at a computer for 3 hours doing it. All I do know is upload some documents and sign off.

  8. Yes. Get an accountant. My accountant charged me $800 last year to prepare and submit my taxes, corporate and individual. He sends me a questionnaire at the end of the year to list expenses, etc. and I don't have to worry about it. He calls me a few times to clarify things.

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