Hey guys, first let me just take a minute to thank you for all of the videos you make to educate us newbies. I dont always understand it all but you have brought my knowledge from 0-100 real quick.
I bought a pool route about 1.5 years ago. I spoke to 1800accountant and they put together a great plan when I told them that you said to file as an S corporation but they wanted 5000.00 to prepare 2 years of returns. I wasnt sure if they would even save me that much and they offered no guarantees so I ended up going with a cpa that wanted about 500 for a personal return with a schedule c and 750 I think for an scorp filing, but it seems Im telling them what to do instead of them advising me. So the question is, how much should I be paying for a tax advisor. My pool route is generating about 100k gross. As a bonus question, the expensive advisor said that I should lend the business the amount iot cost to purchase so I could charge 50% interest and write it off, the less expensive advisor said that wouldnt make sense since I would have to pay tax in the interest income. Who is right?
Thanks for reading and please keep teaching us.