FAQs
Should I Hire Someone to File My Taxes?
We recommend nearly all of our clients with stock compensation hire an accountant who is familiar with stock based compensation to file their taxes. Stock comp is annoyingly complex, and that carries forward into how they are taxed, and how one files taxes when stock comp transactions occur. We've seen countless individuals file their taxes incorrect due to stock comp (with the error being both "beneficial" and "detrimental").
Issues like double counting ISOs, not correctly calculating AMT tax, not claiming QSBS, incorrectly specifying an ISO disposition as qualified or disqualified, not recouping for past paid AMT, and not adjusting tax basis for stock comp have all occurred in the past tax returns of clients that we have reviewed
To be fair, we've also seen a number of CPAs get the above items incorrect as well. That's why we recommend you find an accountant who specifically has experience with stock comp.
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