Home     Forum     401k     401k Rollovers     Crypto Forum
    Register   Login   Members   Search   FAQs     Recent Posts    



Pay somebody to do my taxes?

Reply to topic
Money Talk > Taxes

Author Thread
Spradle
Contributing Member


Cash: $ 8.75

Posts: 38
Joined: 23 Jan 2011
Location: UT
Pay somebody to do my taxes?  Reply with quote  

Or is it easy enough to do on my own? I am willing to research a small amount if required.
Post Fri Jan 28, 2011 2:52 pm
 View user's profile Send private message
MrPolarZero
Preferred Member


Cash: $ 31.00

Posts: 150
Joined: 31 Jan 2011
Location: Aliso Viejo, California
 Reply with quote  

I suggest you to just do it on your own. Hiring someone to do your taxes might just be a bit costly.

Annuities
Best Life Insurance
Post Thu Feb 10, 2011 5:06 am
 View user's profile Send private message
Spradle
Contributing Member


Cash: $ 8.75

Posts: 38
Joined: 23 Jan 2011
Location: UT
 Reply with quote  

Yeah I actually did end up doing it for free on my own. I was happy with the results too.

Though, I would like to try both, just to see what difference I can make.
Post Thu Feb 10, 2011 1:43 pm
 View user's profile Send private message
KatherineLee88
Preferred Member


Cash: $ 22.65

Posts: 112
Joined: 10 Jan 2011
Location: Iowa
 Reply with quote  

quote:
Originally posted by Spradle
Yeah I actually did end up doing it for free on my own. I was happy with the results too.

Though, I would like to try both, just to see what difference I can make.


I did both. Got the same results on my paper 1040A as Turbotax.

If you make less than 30k/year you can file federal and some states for free with Turbotax (Turbotax Freedom).
Post Thu Feb 10, 2011 2:30 pm
 View user's profile Send private message
RichS
Full Member


Cash: $ 19.10

Posts: 95
Joined: 02 Feb 2011
Location: Seattle
 Reply with quote  

Look at your previous years tax return and if you're situation is about the same use last year's federal and state tax returns as a guide and do this year's returns yourself...especially if it is a Federal1040A or 1040EZ. People are intimidated by taxes because they can be confusing and complex and everyone worries about an IRS audit.

However, if all you have is a basic return do it yourself. Even if you screw it up the IRS will let you know and fix it for you...and so willl your state if you have to file in your state. The IRS is really only concerned about one thing...did you file a tax return, right or wrong? Once you do it this year you will understand how easy it is and not have to pay H&R Block their exorbitant fees.

If you have to file the long form 1040 because of personal deductions or you are self employed than it is best for you to pay a professional tax preparer because most people wind up cheating themselves out of legitimate deductions which costs you money. Hope this helps.
Post Thu Feb 10, 2011 3:42 pm
 View user's profile Send private message
Spradle
Contributing Member


Cash: $ 8.75

Posts: 38
Joined: 23 Jan 2011
Location: UT
 Reply with quote  

Yeah it actually was very easy. I expected hours of hard work, but it probably only took me one hour. I got my return today too! Feels great.
Post Sat Feb 12, 2011 11:20 pm
 View user's profile Send private message
MrPolarZero
Preferred Member


Cash: $ 31.00

Posts: 150
Joined: 31 Jan 2011
Location: Aliso Viejo, California
 Reply with quote  

Depends really. If you don't have time to take care iof this one, the n it would be a good idea to let someone else handle it. But, yes, generally, you should be the one to take care of this.

Annuities
Best Life Insurance
Post Mon Feb 14, 2011 5:20 am
 View user's profile Send private message
Spradle
Contributing Member


Cash: $ 8.75

Posts: 38
Joined: 23 Jan 2011
Location: UT
 Reply with quote  

My friend actually ended up paying somebody to do his taxes. His situation is a lot more complicated though. He owns a business. He ended up getting 3200 back and had to pay 100. But that is much better than the return he would have gotten for himself.
Post Thu Feb 17, 2011 1:35 pm
 View user's profile Send private message
oldguy
Senior Member


Cash: $ 751.85

Posts: 3656
Joined: 21 May 2006
Location: arizona
 Reply with quote  

quote:
He ended up getting 3200 back and had to pay 100. But that is much better than the return he would have gotten for himself.


Maybe not - hiring someone to do your tax doesn't change your tax bill unless one of you did it wrong. BTW - 'return' and 'refund' are not the same.
Post Fri Feb 18, 2011 6:20 pm
 View user's profile Send private message
Phil Tanny
Member


Cash: $ 4.85

Posts: 24
Joined: 10 Feb 2011
Location: Gainesville FL USA
 Reply with quote  

To me, it's worth it to have our accountant do it, even though our situation isn't that complicated, and we've done it ourselves in years past. We're both self employed, with simple businesses.

Anything that lowers the chances of us having to deal with the IRS is a good plan as far as I'm concerned. Smile

And because we have a relationship with our accountant, she's open to other questions from time to time, which has come in really handy.
Post Fri Feb 18, 2011 10:37 pm
 View user's profile Send private message
Spradle
Contributing Member


Cash: $ 8.75

Posts: 38
Joined: 23 Jan 2011
Location: UT
 Reply with quote  

quote:
Originally posted by Phil Tanny


Anything that lowers the chances of us having to deal with the IRS is a good plan as far as I'm concerned. Smile



good point
Post Mon Feb 28, 2011 10:03 pm
 View user's profile Send private message
RichS
Full Member


Cash: $ 19.10

Posts: 95
Joined: 02 Feb 2011
Location: Seattle
 Reply with quote  

Having a good long standing relationship with an accountant when you are a small business owner or just someone filing taxes once a year is usually worth the price you pay for the tax returns.

Most accountants will give away free advice throughout the year to people that have established a solid relationship with them and/or given the accountant referrals that might have turned into business. It's one hand washing the other. When you look at the tax prep fee this way everybody wins over the long haul.

I speak from experience of having a tax practice years ago. Very Happy
Post Mon Feb 28, 2011 10:22 pm
 View user's profile Send private message
NolaP
Full Member


Cash: $ 11.25

Posts: 56
Joined: 17 Feb 2011
Location: USVI
 Reply with quote  

If you can just file a simple tax return I say go for it on your own. And it's true, if you make a mistake the IRS will catch it and send you a bill or a refund if you over paid.
Post Tue Mar 01, 2011 2:43 pm
 View user's profile Send private message Visit poster's website
MrPolarZero
Preferred Member


Cash: $ 31.00

Posts: 150
Joined: 31 Jan 2011
Location: Aliso Viejo, California
 Reply with quote  

Agreed with you on that one. If you have an accountant friend, you can easily ask for tips and opinions with regards to your tax question, and they do tbis one relatively for free.

Annuities
Best Life Insurance
Post Wed Mar 02, 2011 1:05 am
 View user's profile Send private message
sirmikey1
Full Member


Cash: $ 13.60

Posts: 67
Joined: 16 Mar 2009
Location: USA
 Reply with quote  

The IRS provides free Tax filing
http://www.irs.gov/efile/article/0,,id=118986,00.html
Post Tue Mar 29, 2011 7:19 pm
 View user's profile Send private message

Goto page 1, 2  Next
Reply to topic
Forum Jump:
Jump to:  
  Display posts from previous:      


Money Talk © 2003-2022

Crypto Prices