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Discussion in 'Fred's Barcalounge' started by Bertotti, Feb 9, 2020.
I’ve been doing them myself since 1970. About 20 years ago, I switched to Turbo Tax. Very reliable.
H&R Block across the street...used the same wonderful tax professional for last 4 years....money has already been direct deposited into my account. Already have my appointment set for next year
I believe the decision for hiring an Accounting firm is one that should be made based on the complexity of your Return or, if you just feel better having an Accounting Firm involved. My Wife did tax returns for an accounting firm, as part of her job there, and the “Program” they used was essentially a bit more sophisticated version of Turbo Tax when doing Returns for the “average” individuals Tax Returns.
I did mine for decades. First time I went to an accountant was a friend of a friend. He got us a much more generous refund than I had ever managed.
That was nice!
He asked a lot of questions and then asked for the last 3 years of returns.
He found us an additional $9G’s that I had missed over the years
I no longer trust me as an accountant.
They've raised the standard deduction so high that for a lot of people it won't even pay to itemize any more. From 12K in 2017 to 24K in 2018 and 24,400 for 2019.
That's a big change!
But yeah, I've been with Turbo Tax for the last 15 years or so. Works well enough for me, but I've got a pretty straightforward return. If I had anything complicated, I wouldn't hesitate to use an accountant.
I used to use an accountant when our band was a corporation. When that disbanded I started doing my taxes with the forms you could get at the library. Then when Turbo Tax got popular I went with them and have been ever since.
I usually buy software to do my taxes with every year. I used to use TaxCut, but for the last few years I've been using TurboTax. I live in a state that has state taxes on top of federal taxes, so I have to get the state tax component too. For both state & federal, it seems I usually pay between $35 and $50 or so for the software, depending on where I buy it from.
I pay. I have and my family have a lot of accounts... and its just easier to deal with someone who knows all the ins and outs.
How do personal taxes work in the US? Here in the UK most folk who are employed get income tax stopped at source, and paid direct to the tax office so we end up with a net amount after tax and national insurance, which is another tax really.
I read today that the government could probably just bill everybody but that lobbyists for accountancy related products/firms are still winning elected politicians over some how.
My wife and I pay an accountant and have since we were married. Initially it was because we had incomes in two states, with getting married, buying a house, transferring some retirement funds and more. Later other complications came into the picture.
However our accountant left and the company gave no notice nor suggested a replacement. So maybe we'll rethink that with the simpler system.
Not to get political, but Steve Forbes ran for president in the 90s with his flat tax idea. One rate on any income received in any form. He claimed you could file on a postcard. Didn't get any traction for a variety of reasons. Lots of opposition and not just from accounting firms. Many groups benefit from the very complicated tax code.
Would love to talk tax reform but I can see that going south fast.
Im new to this whole tax thing.. and being in australia, and being new to claiming things for work and all, I had to hire an accountant to do my claims, tax and everything..
the thing is, I pay for it, and the govt refunds me the cost of that on the next tax year.. so its like, if I can get it back, then its all good.
I do my own, I'd like to pay someone to do it. Now that I am not a W-2 employee like my wife, I have to do it as my job adds all the complications.
When I think taxes I think of this song
I have a great accountant that specializes in showbiz clients.
I used Turbo Tax for years without a problem. 2 years ago I tried Credit Karma. I put in all my info into both of them and they came out exactly the same. Free to file Fed and State with Credit Karma and $80 for Turbo Tax. Used them again this year, entered same info into both, came out the same....saved $80 !!! (Married filed jointly)
Agreed. I've been filing on my own since I was 19 but last year we unexpectedly became landlords. I have a recommended accountant lined up, but wow it's a lot more expensive than I expected! Hopefully worth avoiding the aggravation of me screwing it up.
Well, it all worked out. I submitted my taxes last Sunday when I started this thread. Yesterday morning, Saturday, O checked the IRS2go app and they have already been approved and it was noted the money would be direct deposited by the 10th if it isn’t in by the 25th to call the bank then contact them. I think that was pretty quick.