QBsguru
Level 7

Reports and accounting

Unless your accountant has ESP, there is no way to prepare taxes for the current year in the current year.  One must wait until the year is closed for the final accounting in order to begin income tax preparation.  So tax prep fees are always for a prior period. 

 

If you have a business, you may deduct 2018 tax prep fees paid in 2019 in 2019.  As of the new tax reform of 2018, individuals may no longer deduct income tax prep fees.

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