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Old 02-07-2008, 05:18 AM   #3 (permalink)
Xazy
People in masks cannot be trusted
 
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Location: NYC
As I said in the other post about if you do your own or have an accountant, I think that may make a difference a bit. I tried it on my own one year and compared it to what the accountant got, and he got back double what I did. Now I do not think all accountants are equal too. The one I go to is a cheap man who knows every single loophole every way to declare a deduction so that you maximize your return. He somehow can rub 2 nickels and get 2 quarters seemingly. He is a bit more then some other accountants but he does not take on mass clients, so he can do it right for the ones he has.

The one thing I learned is how to document any type of expense that can be business related, and then how to term it. Business meal vs entertainment (one is 50% less), business gift vs entertainment (like tickets to a show), etc...

It kind of reminds me of medical billing, it is a whole profession to know how to claim things just right, and you have to learn how to do it.
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