Regarding DIY, the big franchises, and looking for a reasonably priced #taxpro. DIY is inexpensive for a reason and low income taxpayers who chose this option often end up with issues (I've seen some end up in tax court) caused by not knowing what they don't know. (1/6)
Ever go to McD's, pay $20 for two meals and think "I could have gone to a local restaurant for not much more." That, IMO is what happens with the big franchises. You think that economies of scale, etc. would make prices relatively low... (2/6)
But you can often find comparable (or even better) service at around the same price point with a local #taxpro. Why? Lower overhead. Those SuperBowl commercials are spendy, or so I hear. (3/6)
Really low cost, seasonal, "transactional" #taxpros might also cost less in the short run (or not, depends on the shop) but if their business model is based on high volume, well, tax season only lasts so long, so fast turnaround is the goal. (4/6)
It's not that volume-based practices don't want to be accurate. They do. We all do. It's just that when your business model is based on turning around a large number of returns in a fixed timeframe, truly thorough due diligence isn't always possible. (5/6)
If you're visiting a #taxpro thinking "My other preparer didn't ask all these questions" a high-volume, transaction based business model is often why. That works---until it doesn't. And when it doesn't it's usually the taxpayer, not the #taxpro who suffers the consequences. (6/6)
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