EDIT: good point that paying accountant does not ensure avoiding it
wonderful, you made a good point that make me dislike situation even more
Has anyone verified to see if they hold up?
1. found errors, e.g. where I used the incorrect exchange rate (and managed to work out how I had made that error, which I was impressed by)
2. found items which would appear to be errors except for context it did not know
3. flagged areas where it disagreed with me as to the correct tax treatment, but accepted that the law is ambiguous (and in some cases I preferred its interpretation after additional research and in other cases I did not)
4. flagged areas where it disagreed with IRS guidance, and only acknowledged said guidance after I provided links to it
5. provided highly inaccurate estimated tax calculations, and not been able to fix its estimates even when challenged
So my takeaway is that it is a very useful tool for tax, but perhaps unsurprisingly, it is not good enough to dump all your paperwork into and expect a shiny return you don't need to check. (Possibly it is if you just have a W-2 and no other substantial income, but I can't speak for that scenario.)
Not much, I assume.
I downloaded 1700 of my transactions and use AI to build an app for it, so I can analyze the transactions and make sure that everything is properly categorized. It used to take me whole day because of the Quickbooks. It took me less than an hour to go through all the transactions.
it's the most ai-native tax experience for US citizens abroad
(It would also help to know if you had a financial interest in or prior experience with this company)
Try this, it uses a tax engine as the backbone and provides feedback for Claude if it goes off the rails. Albeit it doesn't support every tax scenario.
holdingunsteady•1h ago
ttthuy•1h ago
The real issue is that accountant most likely has a track record of those kinds of mistakes - but you have no info on other clients. So you weren’t as informed at the time you chose them vs the new one.
kjksf•59m ago
It's not the accountant that paid $20k for his mistake but the accountant's client.
holdingunsteady•58m ago
I think the red flag should have been when he printed out all my tax returns and made me pick them up in person, and didn't even send a digital copy.
matkoniecz•55m ago
I am not aware of setups available to me that would transfer liability onto accountant.
So in either case I am taking liability.
(also, I am pretty sure that if corporation loses 10 millions over accountant making bad decisions, they are not going to recover that funds either)
ffwang2•52m ago
matkoniecz•49m ago
And there was no real path to recovering funds, except small part, after long court case.
At least they were able to fire them without severance pay.
skinfaxi•44m ago
ffwang2•55m ago
raegis•35m ago
ElCapitanMarkla•15m ago
BeetleB•17m ago
https://blog.nawaz.org/posts/2022/Nov/do-you-trust-your-tax-...
itishappy•14m ago