Comments (11)

 
Dec 2, 2020 - 9:45pm

Is there something specific about HF analysts that you are concerned about?

I mostly do my own taxes, except for the last couple years where things got a bit complicated with real estate, etc. and I hired a specialist.

But earlier in my career I just did my own taxes, at the junior level it is usually pretty straightforward, so I don't think I'd invest much if I were you. 

Array
 
Dec 3, 2020 - 7:46am

I work and live in New England. I use a larger regional tax/advisory firm call Blump Shapiro (https://www.blumshapiro.com/). LinkedIn says they have ~500 employees. It costs me around $2,500 a year for them to do my taxes.

I previously worked in private equity for a while before switching to mostly public equities. I have co-investments and other LLC investments that generate several of K-1's, etc. I also own a home and have GP economics in my fund.

If you are an analyst simply making cash base + bonus there likely isn't a real need to hire a tax firm and you can probably just use an online service/software.  

"If you want to succeed in this life, you need to understand that duty comes before rights and that responsibility precedes opportunity."
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Dec 6, 2020 - 3:18pm

TheBigBambino

I work and live in New England. I use a larger regional tax/advisory firm call Blump Shapiro (https://www.blumshapiro.com/). LinkedIn says they have ~500 employees. It costs me around $2,500 a year for them to do my taxes.

I previously worked in private equity for a while before switching to mostly public equities. I have co-investments and other LLC investments that generate several of K-1's, etc. I also own a home and have GP economics in my fund.

If you are an analyst simply making cash base + bonus there likely isn't a real need to hire a tax firm and you can probably just use an online service/software.  

Interesting. I'm in a very similar situation, both in terms of investments and partnership interest. I still do my own taxes via turbotax, because I want to be able to optimize my investment decisions vs taxes, and the only way I know to do this effectively is to understand the relevant portions of the tax code well enough to make filing my own taxes easy. 

 
Dec 7, 2020 - 12:57pm

Before you're K1, use a local CPA. After that, use whoever other investment professionals at your fund use. Cheers.

"Come at me, bro"- José de Palafox y Melci

 
Dec 10, 2020 - 6:20am

I used to use turbotax. I got married and have a bunch of other shit going on so have an accountant I pay $500 a year now. If your income is just W2 and stocks, don't waste your money, 

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