The years before 2021 I would only have 2 sources of income: salary and stock sales so if was simple. However in 2021 I have: Corp Salary Stocks - short term and long term Options Crypto - a bit complicated here because I bought crypto every year from 2015 till 2021, and some are long term, short term etc. Itโs also hard to figure out the average buy in prices because coin base and Binance suck ๐ at providing that. I ended up selling a lot in 2021. Also Gemini I sold some as well. Also gave some money to family members overseas so I think I have to report this as well. All of this gives me a headache, does it make sense to just give an account $400 - $600ishto deal with it for me? Or is it still pretty simple to do on turbo tax?
Please refer me to youโre accountant mine is quoting me $2500 granted I have a SB
$2500? For what exactly
So funny. Google person makes top dollar and is worried about $400 which might potentially give them a bigger return, or save time. Btw, you can also pay more and get live help from cpa on turbo tax. But, its probably better to get an outside accountant.
Download coin tracker for coinbase, regardless of accountant. They did a really good job with reporting cost basis etc
CPA definitely worth it.
Does it tough? I have been using accountant since the last years and not a single dollar extra in return!!
Then why did you use it for more than once?
I used an accountant for one year. It didnโt lead to any extra savings but less work - at least to begin with . However, I had an issue of delegating and losing control. so I was reviewing every single form , every single line in detail, which ended up being more work, so I went back to TurboTax. I also learned that if you have thousands of stock trades (I did) and you have a detailed 1099 , you donโt need to import or enter each one on schedule D . You can just enter the total. This simplified my life quite a lot.
It's very simple, you don't need an accountant for that. I use BitCoin.Tax for crypto. There I can import data and it magically figures out the cost basis etc. based on date/time of transaction, generate the forms/data. TurboTax is pretty simple, it can pull data from most W-2, brokers, even BitCoin.Tax, consolidate it for you and generate the final forms. Give it a shot, you don't have to pay a penny till you actually submit. If you go with them your final cost would be $70 or something like that. *Bonus: You can usually get a $20 off or something coupon link for TurboTax.
TurboTax Live is good enough
Accountants are worth it