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Do You — or Don’t You: Do you do your own taxes?

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Do You — or Don’t You: Do you do your own taxes?

BY INSTORE TEAM

Published in the April 2012 issue

9% YES, I DO
 

Yes and no. I handle all sales tax and payroll tax deposits, my actual corporate and personal tax return is completed by a CPA firm. — Mark Goodman; Goodman Jewelers, Abingdon, VA

We do our own taxes with TurboTax assistance. — Alan Goodheart; Goodheart’s Jewelry, Overland Park, KS I have a minor in accounting from Harvard. Pretty easy to do them. — Jan Cook; Precious Gems, Bradenton, FL

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I have my own system and do taxes myself. — Pamela Hecht; Pamations, Calumet, MI

91% NO, I DON’T

CPA is the absolute only way. Anyone owning a business that does otherwise is really not seeing the forest for the trees, in my opinion. My CPA charges me under $1,000 and takes care of everything. If one of our customers tried to set their own diamond we would laugh at them. Why would we try to do our own taxes? — Mark Snyder; Snyder Jewelers, Weymouth, MA

Any time you need to go to the bank, you’d better have a CPAgenerated financial statement. — Bill Elliott; Ross Elliott Jewelers, Terre Haute, IN

We supply data to our CPA once a year and she does the paperwork. Haven’t had any problems so far. Sometimes she will remind us of deductions that we took before but forgot this time. — Mark Thomas Ruby; SunSpirit Designs, Loveland, CO

My bookeeper does the legwork and gives it to the CPA to verify and adjust. — Janet Silver; Roberts Jewelers, Jackson, TN

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I give it all to the accountant. I am clueless. — Erin McMichael Hess; Accents, Colorado Springs, CO

Taxes are too complicated to do on my own. I don’t need a visit from the IRS. Got enough problems. — Craig C. Curtis; Downtown Jewelry & Engraving Shop, Belfast, ME

I keep records on QuickBooks, but our taxes are prepared by a CPA. — Cliff Yankovich; Chimera Design, Lowell, MI I used to tackle them myself, but I think the CPA pays for himself in savings. — Steven Wardle; Forest Beach Design, Chatham, MA

 

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Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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Do You Or Don't You?

Do You — or Don’t You: Do you do your own taxes?

Published

on

Do You — or Don’t You: Do you do your own taxes?

BY INSTORE TEAM

Published in the April 2012 issue

9% YES, I DO
 

Yes and no. I handle all sales tax and payroll tax deposits, my actual corporate and personal tax return is completed by a CPA firm. — Mark Goodman; Goodman Jewelers, Abingdon, VA

Advertisement

We do our own taxes with TurboTax assistance. — Alan Goodheart; Goodheart’s Jewelry, Overland Park, KS I have a minor in accounting from Harvard. Pretty easy to do them. — Jan Cook; Precious Gems, Bradenton, FL

I have my own system and do taxes myself. — Pamela Hecht; Pamations, Calumet, MI

91% NO, I DON’T

CPA is the absolute only way. Anyone owning a business that does otherwise is really not seeing the forest for the trees, in my opinion. My CPA charges me under $1,000 and takes care of everything. If one of our customers tried to set their own diamond we would laugh at them. Why would we try to do our own taxes? — Mark Snyder; Snyder Jewelers, Weymouth, MA

Any time you need to go to the bank, you’d better have a CPAgenerated financial statement. — Bill Elliott; Ross Elliott Jewelers, Terre Haute, IN

We supply data to our CPA once a year and she does the paperwork. Haven’t had any problems so far. Sometimes she will remind us of deductions that we took before but forgot this time. — Mark Thomas Ruby; SunSpirit Designs, Loveland, CO

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My bookeeper does the legwork and gives it to the CPA to verify and adjust. — Janet Silver; Roberts Jewelers, Jackson, TN

I give it all to the accountant. I am clueless. — Erin McMichael Hess; Accents, Colorado Springs, CO

Taxes are too complicated to do on my own. I don’t need a visit from the IRS. Got enough problems. — Craig C. Curtis; Downtown Jewelry & Engraving Shop, Belfast, ME

I keep records on QuickBooks, but our taxes are prepared by a CPA. — Cliff Yankovich; Chimera Design, Lowell, MI I used to tackle them myself, but I think the CPA pays for himself in savings. — Steven Wardle; Forest Beach Design, Chatham, MA

 

Advertisement

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

Promoted Headlines

Most Popular