tax question

Using ATBS for accounting/taxes is like using McDonald's as your nutrition advisor ...

 

I have been using AT BS for 3.5 years now. No problems. While I was leased onto Swift for 3 years they ran my numbers and works out to negative $27,000 income for the 3 year period so owe zero taxes for the last 3 years and possibly this year and some of next year as well as the negative dollars are applied to positive income at my new company.

 

Learn to do them youself ... if you're going to be successful you need to be tracking all your numbers anyway ... and if you have your numbers, it's just a matter of entering the data when you do your taxes ...

You paid cash for truck ... so the entire amount was depreciated down ... couple that with the miles you said you ran ... it really didn't take that much effort to ensure a negative income on your part.

 

ATBS, I used them one year (the first year they started) been doing my own taxes for years. Just wanted to double check myself. They did the book keeping and taxes that year. There were many many errors on that return, I thru it away and filed my own.

This was the first year the started, so not really relevant to today. What I am saying is, Know your numbers!!!!!!!!!. so that who ever is doing your taxes. You can check those numbers, and make sure they are accurate.

 

This ... I used them for 3 months, just to see if it would be any easier ... First, their reports are crap and not timely at all. The reports are monthly and come out 2-3 weeks after the end of the month. Essentially giving me the same data that I already had, only 6 weeks later.

Same as you, I've always done my own taxes. When tax time came I sat down reviewed my numbers, realized I had everything I needed and went WTF do I need these guys for.

The kicker was when they wanted me to send in $2,500 for quarterly taxes ... my total tax bill was only $431 for everything ... but then there will be the guys who will think someone like ATBS is great, because they got them a $2,100 refund.

 

I'm a company driver and I like ATSB, for a real low rate they file my taxes, they do the deductions and the stock market Capitol gains and dividends, for less than $200.

but then Im not a lease or owner op that deducts more than I earn. And I didn't gross 300,000 last year, LOL

 

I think it is important to have access to financials at a moments notice. That is why I like having my own software and maintaining my own records. I see no need to send out the day to day bookkeeping. I have a friend who does his books in 30-60 minutes a week. He usually does them on Saturday mornings. He uses an outside tax preparer, but does the day to day books himself.

I do the same thing. With my books, I can print out a profit and loss or any other records I may need and either file the taxes myself or take them to a tax professional. If you can keep the books yourself, you can save a lot of money. Send a profit and loss to your tax person and let them do the tax calculations, providing you don't want to deal with it yourself.

The way I look at it, I can do the daily books and use an outside professional to worry about the taxes. Anyone who is in business needs accurate, up to date financials. You need to know where you stand at all times. If there is a problem, you can address it immediately rather than waiting on your tax person to get with you. I keep my IFTA and everything else on my computer. If I have my books current, all I need to do is print out a quarterly fuel report and then transfer the data to the state IFTA website. There are services that will do your fuel taxes. Most charge from $25-50/month. You do the work yourself anyway. It is only a matter of transferring the figures to your software.

 

If you and/or your wife have a problem handling money, you might consider taking Dave Ramsey's Financial Peace Course. I have known a couple of people who have taken the course and they think it is very helpful. He mostly works through churches using Biblical principles to get out of debt and plan your finances. I think the course costs about $100 and can also be purchased online. Dave Ramsey has a radio show in most markets across the U.S.

 

Everyone should spend a little time listening to Dave Ramsey. Things that he talks about should be taught in school at a very young age.