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Doing your own taxes or have an accountant?
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Posted 4/8/2021 11:05 (#8939722 - in reply to #8939397)
Subject: RE: Doing your own taxes or have an accountant?

Many years ago we did our own, then went with a regional co-op doing farm taxes. They are currently a six person office with some secretary staff as well, your accountant makes two farm visits during the year and you go in for an estimate meeting at yearend. I farm in a partnership with my brother so we have state and federal partnership return, two individual returns, both state and federal (not simple ones either), farm 1099's and K-1's plus a depreciation schedule and our bill is $900. I do have a farm only checkbook and record the income and expenses using QuickBooks and take the laptop along for the session when the returns are prepared. They stay current on the tax changes and the six accountants in the office can easily collaborate if needed. I know that having tax preparers that understand farming has saved us money.
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