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Originally Posted by HonestChieffan
I gathered up all my receipts for the year. Was amess to do but found the ones in one truck, found thones in second truck.
Have all the 1099's and stock reports, have my side hustle income done.
Expenses this year were bottom line killer. Thankfully they should be "non-recurring". Transmission, do major work on 4 wheeler and a UTV, to many $ on finishing a storage building...
Accountant will have to decide what we claim and not claim. Plus I will get smashed with a CapGain that is nasty
I hate taxes.
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Make sure you know what they deduct. Most accountants haven't a clue. I'd hate to see her take nothing then you pay more taxes. Typically the client tells the preparer what percentage is business use.
Fun fact cap gain is typically the cheapest tax rate unless you make not much money.