I hear this advice a lot, but what does an accountant actually do differently? It always sounds magical. Are there super secret deductions and credits that aren't on Turbo Tax, and only accountants know about?
I feel like I'm doing 90% of the work already, having organized all my expenses and income. What are they doing other than typing it into their own Turbo-Tax-equivalent?
“TurboTax will take what I did last year and minimize my taxes. My accountant will tell me what to do differently this year to minimize my taxes next year.”
In other words a good accountant is a forward-looking advisor, not just a calculator.
I feel like I'm doing 90% of the work already, having organized all my expenses and income. What are they doing other than typing it into their own Turbo-Tax-equivalent?