Just got off the phone with my new CPA...

[signal]

... if I decide to hire this guy.


Like many other posters here, I've been accumulating winnings and now comes for the time of thinking toward tax time.

I went to a resource like this one .

So I explained over the phone my situation and the guy said he will be able to prepare my taxes.

He also said that I should be setting aside enough winnings to cover the taxes; I told him I keep records and do not touch any of my winnings. He said fine.

He also said as a maximum 50% of my winnings could be taxed but most likely 25% will go to federal and 5% to state (I'm in massachusetts). What is the best way to make sure that the CPA follows the laws but at the same time saves me as much as can be saved? I am flying blind on this one. (I thought there was a book on this subject... I will search if I find it I will post it).

Is this along the lines of other people's experiences?

This is my first attempt at acquiring a CPA and I would appreciate it if other more knowledgeable people could provide some additional pointers.

* I asked if he's dealt with gambling winnings before and he said of course there are many avenues for gambling in and around Massachusetts.

* His quote is ~ $250

Is there anything else I should be telling the CPA or making sure he's aware of? (I ask this since some people say there are some idiot CPAs out there; one thing is for certain this guy asked for records for each session so it seems he is correct to be on the thorough side....)

So he told me to check back in during end of November beginning of December and then we can set up a plan for April.