Beware of Hiring a Tax Accountant | CPA Explains

"so if you don't know who I am my name is Brian Kim it's very nice to meet you so I'm a certified public accountant I'm the owner of multiple tax practices and I've been in the trenches doing tax returns but fortunately I'm out of the day-to-day operations but it's good because I have more time to make YouTube videos now"

"if you exercise stock options we're talking about nqsos or isos I highly recommend that you see in a Content I would say don't try to be a hero and don't try to do do this yourself especially if it's going to be your first time"

"however if you sell your rsus I would really I mean I would really recommend that you go see an accountant you want to make sure that nothing went wrong especially if you're dealing with a large amount of money so I've seen so many RSU situations go bad and it costs people a lot of money"

"with an S corp you have to optimize your payroll if you're if you're going to try to get the best tax outcome that's the primary benefit of an s-corp Additionally there are a lot of tax deductions and a lot of business tax credits that I assure you that you are not aware of I'm talking about the most obscure tax credits things that you're never going to find by Googling yourself"

"so if you're a sole proprietor or an independent contractor please see an accountant I would recommend at a minimum doing a free consultation"

"so if you have to do an amendments and it's for a larger amount of money or for it's a if it's for a situation it's a little bit more complex I would highly recommend that you have an account and do it"

"so if you get an IRS or if you get an IRS audit letter please do not panic I would highly recommend that you find an accountant they're going to be your Defender against that Predator the IRS or the state"

"now I'll tell you this when it comes to an IRS audit in most cases a tax attorney that's going to be Overkill it's going to be much more expensive too if you do something really bad or for a lot of money then yes go see attack get go hire a tax attorney if you didn't then I would recommend that you work with a CPA or an EA so an EA that's an enrolled agent so they're going to be cheaper than a CPA and a lot of times they're gonna they're gonna they're actually gonna have more experience dealing with audits compared to CPA"

"so reason number one is tax planning if you have tax planning questions and accountants will be very helpful so tax planning that is a segment of financial planning if you have General Financial Planning needs I would recommend that you see a financial advisor or a cfp"

"so if you want to build a relationship because you know that in the future you will need a tax accountant then I would recommend that you be proactive go find an accountant for example if you know that you're going to start your own business or that you're going to go independent then do not try to find an accountant's last minute find someone that's a good fit and find them ahead of time"

"so you can you can take your most recent tax return to an accountant to have them review it and make sure that you're doing everything right that everything looks good so I would recommend doing this after tax season so a lot of tax accountants they're going to be looking for business during off season so they're going to have the time they're going to have the availability and it's going to be much cheaper for you"