Bookkeeping / Tax Returns

Do you do your own bookkeeping and tax returns, or outsource it?

  • I do both my own books and taxes

    Votes: 4 57.1%
  • Outsource both my books and taxes

    Votes: 2 28.6%
  • Do the books, outsource taxes

    Votes: 1 14.3%
  • Outsource the books, do my own taxes

    Votes: 0 0.0%

  • Total voters
    7

MW Agent

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I am curious how most insurance agents handle these issues...

Do you use Excel, a notebook, or Quickbooks (ect) to do your books?

Do you do your own taxes, or hire a CPA/EA/Chain Shop?

Do you file as a sole proprietor, S-Corp, C-Corp?
 
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I use excel for most everything. Some people have told me I should use software like Quicken, but excel is a pretty powerful software if you know how to use it.

When filing my taxes i use TaxAct.com. it's completely *** proof, walks you through question by question, and even finds money for you. I also file on personal taxes, no corp or anything
 
I use excel for most everything. Some people have told me I should use software like Quicken, but excel is a pretty powerful software if you know how to use it.

When filing my taxes i use TaxAct.com. it's completely *** proof, walks you through question by question, and even finds money for you. I also file on personal taxes, no corp or anything

I used Excel for years, nothing wrong with it. Eventually I switched to Quickbooks for $13/month. The time savings were worth it for me: Most income and expense entries automatically loaded, so it saves the manual typing and tracking. Usually my income comes in from over 20 to 30 different carriers per month. It got to be a lot. TaxAct is also easy to use if you file as a Schedule C.
 
I've always done my own personal taxes, but I let a CPA do my corporate returns. I use Quickbooks (but not on monthly subscription). Makes it easy to reconcile each carriers commission. All my salary and shareholder distribution and payroll tax info is one click away.

Quickbooks is definitely worth the cost in my opinion.
 
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