1447: (Don't Risk It) Get a Quality CPA to Prepare Your Taxes by Philip Taylor of PTMoney on Money and Taxes

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🗓️ 24 February 2021

⏱️ 11 minutes

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Summary

Philip Taylor of PT Money encourages you to get a quality CPA to prepare your taxes. Episode 1447: (Don't Risk It) Get a Quality CPA to Prepare Your Taxes by Philip Taylor of PTMoney on Money and Taxes PTMoney.com is about helping you make extra money, save more money, and spend your money wisely--all in an effort to help you fix your finances so you can build the life you want. It was started by Philip Taylor, a CPA, entrepreneur, and blogger who started the site in 2007. He also created FinCon, the popular conference for financial nerds. The original post is located here: https://ptmoney.com/in-defense-of-the-cpa/ Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group Join the Ol' Family to get your Free Gifts and join our online community: OLDPodcast.com/group Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	This is Optimal Finance Daily, episode 1447. Don't risk it. Get a quality CPA to prepare your taxes.
0:08.2	By Philip Taylor of PTMoney.com. And I'm your host and personal finance enthusiast, Diana Mariam.
0:15.2	This is the show where I read to you from some of the best personal finance blogs on the planet,
0:19.6	sometimes a little too enthusiastically. But I can't help it. Money is an incredible resource that we
0:25.5	can use to craft the life of our dreams. And before we get to it, have you subscribed to our
0:30.7	other podcasts? We cover personal development and minimalism, health relationships, entrepreneurship,
0:36.7	and life advice on the other shows. Just search for Optimal Living Daily wherever you get your
0:41.6	podcasts to find them. But for now, let's get right to it and continue optimizing your life.
0:46.7	Don't risk it. Get a quality CPA to prepare your taxes by Philip Taylor of PTMoney.com.
0:58.8	I used to work in a CPA for him back in my 20s. Filing taxes was a part of the annual routine.
1:05.2	Lately, I've been thinking about the many advantages of having a CPA do your taxes.
1:10.0	I'm going to share my thoughts with you about why it matters and for whom. Do you need a CPA to
1:16.0	prepare taxes? The answer to this question is maybe. There are some cases like when you have a
1:23.0	super simple return that the services of a CPA might be overkill. However, there are so many
1:29.0	benefits to working with a CPA that most people find it to be well worth the cost. While anyone
1:34.8	can file their taxes on their own or use a different tax preparation solution, as the saying goes,
1:40.7	just because you can do something doesn't necessarily mean you should. Here are a few of the
1:46.0	reasons why you'll want to consider hiring a CPA. Why use a CPA to prepare your taxes?
1:53.2	Number one, licensing. Practicing CPAs are required to hold a license through their particular
1:59.6	state. In order for the CPA to maintain this license, here she must generally do two things.
2:06.1	Number one, complete a certain number of continuing education hours. For example,
2:11.2	taking a course on the latest tax deductions. And number two, run his or her business according
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