Taxes

Discussion in 'General Conversation' started by Mi11er, Jan 7, 2010.

  1. Mi11er

    Mi11er New Member

    Messages:
    5,117
    State:
    Independence, M
    What everyones thoughts on getting your taxes done by a pro vs. software you can by yourself. Can the pros catch more than the do it yourself tax software?
     
  2. skiff1

    skiff1 New Member

    Messages:
    210
    State:
    south caro
    it depends on how complex your taxes are if your employed by one employer i suggest doing it yourself but if your self-employed hire the pro
     

  3. 223reload

    223reload New Member

    Messages:
    10,798
    State:
    Oklahoma
    Jess I get mine done by a small firm. Don't know if its worth it money wise,But to me 200.00+ - is worth the time and headaches I'd spend doing them.
     
  4. Mi11er

    Mi11er New Member

    Messages:
    5,117
    State:
    Independence, M
    I agree. I just wanted to know what everyone thought. We have been doing them ourselves for a while, I always think we leave "Money on the table"
     
  5. thecatman

    thecatman Well-Known Member

    Messages:
    1,763
    State:
    Graham, Texas,
    i always go to h&r block because they have that gurantee if they miss anything they pay for it i dont want to risk punching in 1 wrong number and end up losing a ton of money or owing the irs money for that matter
     
  6. kyleco55

    kyleco55 Well-Known Member

    Messages:
    1,359
    State:
    Central In
    I went to a "professional" tax preparer twice.. first time, I'm pretty confident I couldve gotten a bigger refund. Second time... wow what a mess! I'm really not sure what happened here.. Myself ,along with some friends that use the same place got hit pretty hard a few years ago. I have no idea how or why they did it, but when they sent in the "final paperwork" it was rejected by the IRS. Somehow they sent in my information, with 2 dependants, with about 9 social security numbers. took me 2 years and $3700 before i got everything straightened out with the IRS. Bad part about it, the $3700 was NOT an overpayment, somehow I got penalized and fined because they couldnt get it sorted out. The very next year, I "RANDOMLY" got audited to verify my status as head of household, and also in claiming my dependants. Do any of you realize what a pain in the butt it is to "prove" that your 3yr old, who you have legal joint custody of, who doesnt go to school, that sees a doctor about once a year... you know how hard it is to "prove" they "live with you"?? I got letters from the courts to verify "to the best of their knowledge, both of the dependants listed bove, were under the sole care of the father throughout the previous calendar year. that wasnt good enough. turns out school records only prove the child lived with you on the first day of that school yr ( WTH?) receipts from doctors only prove that they were in your care "ON THE DAY" of the doctor visit..
    from that day on, I take both of my kids for regular checkups, every day of the week, even on sundays and holidays! yeah it might cost me 50K a year, but i got "proof" now, and I'm eligible to recieve my $3000 tax CREDIT.. soundslogical doesnt it?
    SO, unless you highly trust these people to do your taxes, Id buckle down and do it yourself. the major ones online are almost fool proof, or well at least I figured it out.. got direct deposited refund in 14-16 days, and total filing fees were under$20
     
    Last edited: Jan 8, 2010
  7. olefin

    olefin New Member

    Messages:
    3,908
    State:
    Texas
    Most years we do our own taxes. After we got computers started using tax software. Some years we have used a CPA, it's according to what has happen to our finances during the past year.
    One year several years ago we filed our own taxes. Couple years later we were part of a class action law suite against the IRS on an issue involving stock that was sold the year we did our taxes. The law suite was settle in our favor. After that we started using a CPA anytime something special happen during the tax year.
     
  8. flathead willie

    flathead willie Well-Known Member

    Messages:
    3,241
    State:
    Virginia
    I use a professional CPA. Tax laws change every year and they can be hard to keep up with. Make sure your accountant has been to Tax School every year. Being self employed, I look for deductions all year long and save receipts for everything. I don't want to trust anyone for my taxes so I go to the IRS website and order all the free tax pamphlets that apply to me and study them. They show me how to take deductions all year long, what changes have been made in the last year, and what paperwork I need to do it. Then I turn all that paper work over to my CPA. If there is any doubt, I have a second accountant check the first CPA's work. Remember, you can redo your taxes for a few years after they have been filed if you think you have left money on the table. Instead of sitting around bitching about taxes, I try to do what the rich folks do and find every way I can to legally reduce my tax liability. Most "middle class" people leave money on the table every year because they don't set themselves up for a lot of deductions they are entitled to, or because they don't know what to save and what to throw away. Right now is the time to study up on deductions for next year. Here is where to go for free help controlling your taxes.

    http://www.irs.gov/formspubs/index.html
     
    Last edited: Jan 8, 2010
  9. AwShucks

    AwShucks New Member

    Messages:
    4,532
    State:
    Guthrie, Oklaho
    I have never paid to have my taxes done. Why should I? I figure I'm just as intelligent as those who do the taxes, I can read, and the instructions are not really that hard. I'm not like the guy driving a car who won't ask for directions...I ask lots of questions. I have used the software that is available for taxes and have been impressed with it. When I worked, I was at the Oklahoma Tax Commission for 17 years. The auditors were just like everyone else...basically started with a HS education or some college and worked their way up the ladder. It doesn't take a genius to do taxes, and if I do leave some money on the table, well, heck, the state and federal governments need all they can get.
     
  10. flathead willie

    flathead willie Well-Known Member

    Messages:
    3,241
    State:
    Virginia
    ..."and if I do leave some money on the table, well, heck, the state and federal governments need all they can get."

    That's an attitude you don't see on here very often.....especially from a republican! LOL:thinking::baffled:
     
  11. Mi11er

    Mi11er New Member

    Messages:
    5,117
    State:
    Independence, M
    I hear ya, I'll be honest, I need all I can get:cowboy:
     
  12. plainsman

    plainsman New Member Supporting Member

    Messages:
    7,187
    State:
    minnesota
    I have done my taxes, and had them done. I went to a preparer one time and it cost me a lot of money I didn't have time to do them, and they were pretty conservative on deductions. I did em myself for the next few years, then got a business and used the same person the previous owner used. Been using em 12 years, it has helped, but sometimes they don't allow some deductions.

    I work in both CA and the midwest, I bought a place to store tools and equipment but they didn't allow it as a deduction, even tho I made money there. Most of the money I made there was working for someone else. Last year I complained about it and they said well ya don't make any money from self employment there do ya? I just told em since I couldn't take the deduction they didn't need to know about any cash jobs I had.

    Some years it cost a lot, especially when I work in 3-4 states and have multiple employers. Getting more costly too, I'm planning on doing my own if I have the time. Someone posted free tax software on here but I forgot about it last time.
     
  13. lendog

    lendog New Member

    Messages:
    2,141
    State:
    berks, PA
    my wife has been doin ours for years, infact she does about 10 other friends and familys taxes too and has been for years. its laid out pretty simple. the worst place to go is somewhere like H&R block if they give ya the instant refund (loan) and charge ya a couple hundred for just gettin your money sooner insted of waitin 7-10 days to get it direct deposited from the IRS
     
  14. flathead willie

    flathead willie Well-Known Member

    Messages:
    3,241
    State:
    Virginia
    Tim,
    I don't know how things work in Minn., but you may want to look into becoming your own contractor.Usually for a small license fee, you can file as a sub-contractor and claim both income and expenses no matter there are made. Here it is only $50 for the business license and a little more for the contractor license. It can save you thousands a year.
     
  15. boswifedeb

    boswifedeb USCA Jailhouse Lawyer

    Messages:
    13,989
    State:
    Tennessee
    Name:
    Debbie
    Bo and I used to use H&R Block - until they got us done out of $1,500 and then wouldn't take responsibility for it. Ever since, I have been doing them using Turbo Tax and we actually come out a little bit better. It is extremely easy to do, and lot less than paying $180.00 to someone who won't be responsible.