The best financial advice I ever received |
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The best financial advice I ever received
If you’re afraid to deal with your taxes, hiring an accountant will change your life.
If you tend to sob every tax season while compiling your yearly expenses or checking random boxes on TurboTax, then you have come to the right place. I, too, used to be in your position — until I hired an accountant and made my money problem her money problem.
Before that, however, taxes were my albatross. I am a freelance writer, which means, come March each year, I have an infinite number of W-9 and 1099 forms to sort through. I am married to a stand-up comedian who performs at venues across the country and therefore has more 1099 forms than I do (and don’t even get me started on his travel expenses). We file jointly, and our tax situation is a logistical nightmare — and one, if I’m being honest, we simply aren’t equipped to handle ourselves.
A few years back, a family friend noticed we’d become prisoners to our taxes and made a suggestion: Why not use an accountant? This seemed unaffordable and unrealistic for two gig workers, but we ultimately heeded their advice and have never looked back. In fact, it made such a difference for me that I now feel personally responsible for preaching the gospel to anyone who will listen. If you can finagle it, please, for your sanity, do yourself a favor and use an accountant.
Yes, filing taxes is a god-awful, laborious process
Let’s address the obvious: Filing your taxes is the worst thing on Earth. As Nathan Astle, a financial therapist with Financial Therapy Clinical Institute, succinctly put it: The task requires a lot of mental energy. For many people, following the prompts on a DIY service like TurboTax or FreeTaxUSA — while enticing — is not a simple, intuitive process. Many of us have several items to report: multiple income streams, as is the case in my situation, or student loans, car loans, interest on your bank accounts, investments, inheritances, and property you own. Meanwhile,........