tax prep

Discussion in 'Trucker Taxes and Truck Financing' started by tsavory, Apr 15, 2014.

  1. tsavory

    tsavory Road Train Member

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    Jun 4, 2013
    Paoli, IN
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    I am majorly at a loss CPA has me paying 500 to fed and 300 to state put 44000 down as other deductions. Daughter works at a big name TAX prep I let her take and look at it to see the difference she and her boss and bosses boss looked though it and come up with us get 1000+ back from both.
    Now tax prep broke down the deductions.

    One who you think would be right I bought two trucks and I know I paid out a lot of cash this last year and if my figures where correct I only profited like 400 for the year as the first truck was bought with money I got from a settlement over the year I paid myself back just a little more than what I already had.

    What things would a tax prep place not know that the CPA would that would cause such a huge difference?
     
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  3. comoes3

    comoes3 Light Load Member

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    Mar 23, 2013
    Austin TX
    0
    I would get a third opinion on it. I prepare taxes myself and have 300+ clients most of them truckers and I can tell you this.

    If two different places have different outcomes it could be one of them missed deductions or one is committing fraud by inflating deductions. There is no other way.
     
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