Is it me or its my CPA.. Need to break up !!

[Chinmay J.]

So up until last year, I used to use Turbo Tax, which even last year my taxes were getting a bit complex for TurboTax. So this year, I looked up a CPA that my family already had relationship with. He is a pretty smart guy, but I am totally unimpressed with his service. 

I sent him an email telling I would like to use him for my tax needs.He told me come and meet me. I was impressed. This guy actually wants to meet me. At the meeting, he asks me nothing more that what could have been asked over the phone.  I drove 10 miles for nothing. So he asks me what all I got going on. I told him various sources of income that I have. He told me OK. Great.. Send me all your W2s, 1099s.. whatever you got.. Yes, and it will be around $400.  I asked him if he had any template so I don't miss out on any deductions.. He said he doesn't have anything.. People just send him stuff...huh ???

I am like What the Hell...... Turbo Tax provides better service than that.  They at least go through all your situation while asking you a lot of questions to ensure that you are not missing out on any deductions, while charging you only a fraction. 

So this total lack of service, is this just an anomaly, and I  need to look for a different CPA, or this is just the norm.

Just for the sake of discussion, I have W2, Rental Income, Interest and Dividend Income, and realtor income reported through 1099-MISC, and some other 1099-K income.

[Christopher Cousin]

@Chinmay J.The true benefit of a CPA is in tax planning, not tax preparation.  Preparation is fairly simple, but appropriate tax planning can save you literally thousands annually, especially as a flipper.  Check out the Mark Kohler podcast for some additional insight and great educational information about tax/legal issues in general.  For example, as a flipper, you should ask about the benefits of the S-Corp designation as far as tax savings go.

Furthermore, a good CPA can help you to structure your transactions correctly so that you can maximize your tax benefits. 

Best of luck to you!