When it’s worth it
We will work with almost anyone. Whether it’s worth it for you to pay us is a separate question, and it comes down to three things.
You can’t confirm you’re compliant. You may not even have reason to think something is wrong, but you don’t have a good way to check. Foreign accounts or assets and property held abroad, an old entity election, out-of-state business activity, errors on last year’s return. Penalties can be severe even for non-willful mistakes, and the reporting obligations that carry the largest penalties are the ones you may be least likely to know about.
You suspect you are leaving money on the table. Even if your return isn’t very complex, working with a professional can ensure you’re not overpaying. A single W-2 and nothing else can still conceal decisions worth real money: structuring your retirement savings, implementing strategies to reduce or offset taxable income, planning for equity compensation before it vests. The clients who say “my situation is pretty straightforward” are often the ones we help the most.
Your own time is worth more than the fee. This comes down to arithmetic, even if the tax savings amount to zero. We know your time is valuable, and if preparing your own return would cost you in time that you can sell for more than we charge, you should hand this work off.
Situations that usually justify a conversation
- Income in more than one state or country, or a move partway through the year
- A new business, no matter how small
- An old entity election made for a growing or changing business
- Any account, asset, pension or trust interest outside the United States
- Property rented, sold, inherited, or held jointly with someone in another country
- A liquidity event or receipt of non-cash compensation
- A notice from any taxing authority, including for a return prepared by someone else
- Any year with a big change in income, higher or lower
And when it is not worth it
There is no clean description of the client we cannot help, because it depends on the year rather than the person. What we can do is tell you after we look. We will always be honest if we feel there is no room to add value.