Recommendations for Tax Accountant

[bridenour]

Hey folks,

A few questions about getting a tax accountant.

This year I have about 1500 trades across equities, options, and futures...have decided I am probably better off using an accountant as opposed to trying to muddle through myself.

I have a couple of questions related:

- when looking for an accountant, do I need one that specializes in trading?
- if so, do they need to be located near me or can i just use one anywhere in the U.S.?
- lastly, what should i expect to pay, generally?

Thanks for any advice!

br

 

[jcrimmins]

read fast as I know the high kahunas will delete this, but at Traders Accounting we have learned over the past 13 years, that;
1. there are a lot of good accountants out there, however most know nothing about trading, not their fault, they have no economic reason to do so.
2. With the internet, you can save the hassle of driving to an office and finding a parking space, so work with an accountant that understands trading anywhere.
3. There are at least three firms in the US that specialize in doing taxes for active traders. Green Trader Tax, Traders Accounting, and one in Denver that's name escapes me. All can be found on the internet.

Hope that helps. Jim Traders Accounting

 

[rwk]

Quote from bridenour:
I have a couple of questions related:
- when looking for an accountant, do I need one that specializes in trading?
- if so, do they need to be located near me or can i just use one anywhere in the U.S.?
- lastly, what should i expect to pay, generally?

I recommend using somebody who specializes in taxation for traders. It will probably not cost any more, and it is more likely to be right. Find somebody who works via Internet, fax, and phone. I am guessing you will pay $600-800 per return, but should not have to go over about $1200. I have used these three at various times, and all should be satisfactory:
http://www.taxesfortraders.com/
http://www.greencompany.com/
http://www.tradersaccounting.com/index.php

PS: I do my own taxes. It's not as hard as it looks.