Do you do your own taxes?

posted 9 months ago in Money
  • poll: Do your own?
    Yes : (46 votes)
    79 %
    No, I hire someone : (12 votes)
    21 %
  • Post # 16
    Member
    4508 posts
    Honey bee
    • Wedding: September 2012

    i do ours on H&R Block Online (I used to use TaxAct before that). We don’t own a house, but we sometimes have mutiple W-2s, the occasional 1099, and school loans. It’s still really easy – the program walks it through for us.

    It will check for you, but right now, the standard deduction is better for us than itemized, which makes it even easier.

    Post # 17
    Member
    161 posts
    Blushing bee
    • Wedding: November 2019

    So I’m a CPA and I use TurboTax myself. You should absolutely be able to use it with your situation with no problems. I would not recommend paying more for a professional to do it based on your situation 

    Post # 18
    Member
    2658 posts
    Sugar bee

    OP, Turbotax would be perfect for your needs.  It goes through a complete interview and covers the return line by line.  It might take you longer the first year just to make sure you don’t miss anything, but each year it gets easier.

    You have no reason to hire a CPA for the items that you described.

    Post # 19
    Member
    488 posts
    Helper bee
    • Wedding: July 2016

    Before I got married I always used TurboTax and never had any issues with that.  Now that I am married we use a CPA because my husband’s finances are complicated due to recent deaths/inheritances.  I do miss being able to get on TurboTax in late January or early February and get my taxes done.  If our finances were like yours I would totally continue using TurboTax or something similar. 

    Post # 20
    Member
    2527 posts
    Sugar bee
    • Wedding: September 2018

    I’ve used turbo tax for the last 5 years. We also got married last year and bought a house, and I have a son. It was still pretty quick and easy using turbotax! They really walk you through everything step by step. 

    Post # 21
    Member
    81 posts
    Worker bee

    I have used hr block for the last 7 years, it’s easy but takes time as my hubby is self employed. It’s also nice that we can pull up past returns and even download as a pdf. If it’s somwthing that makes you nervous, you can look up taking a tax course locally or online. Most are under $1000 and as low as $350. That way you will be a professional and can still save money year after year. 

    I used to work with someone who did this and she also went to cosmetology school at a community college just to teach her the craft so she can cut and do her family’s hair professionally and save money. Girls loved her doing a sleep over the night before a dance so she could do all of their friends makeup and hair. saradiana32 :  

    Post # 22
    Member
    77 posts
    Worker bee

    I used a professional one year, but for my needs it just wasn’t worth it. TurboTax for the win.

    Post # 23
    Member
    908 posts
    Busy bee
    • Wedding: August 2019 - City, State

    chillbee29 :  efile.com, creditkarma.com (now has free taxes), HRblock.com (federal is always free, save your forms and file yourself on your state’s website). Those are the only three that myself or my fiance have used, but I’m sure there are others out there as well. 

    Post # 24
    Member
    7413 posts
    Busy Beekeeper
    • Wedding: October 2014

    I hire a professional. He charges between $600-900/year depending on how complex our taxes are that year.

    Beware of “free” tax prep sites.  Nothing is free on the Internet. If you’re not paying for the product, then you ARE the product.  Some, like Credit Karma, are fairly transparent; they make their money by showing you ads for various banking/credit card products and if you apply for one, they get a referral bonus.  Others are a lot less transparent and will sell everything from your contact info to your salary and tax info, and you have no control over where your data ends up, and you probably don’t even know they’re doing it.

    By The Way a big part of the reason that US taxes are so complicated is the tax prep software industry, led by your friends at Turbo Tax and H&R Block. These two companies have spent millions and millions of dollars lobbying congress *against* streamlining the tax code.  So be aware that when you do business with them, they are actively working *against* your best interests.

    Post # 25
    Member
    1210 posts
    Bumble bee
    • Wedding: July 2019

    My SO is a CPA, so luckily he does them for me. Before we started dating, I used H&R Block online. It seemed to work fine.

    Post # 26
    Member
    1757 posts
    Buzzing bee

    I don’t consider TurboTax as “doing your own taxes”. To me doing your own taxes means you have the forms printed in front of you, a pencil and a calculator. That being said, I have a CPA in my family and I use her software to prepare my own taxes and then she doublechecks it and efiles it.

    Post # 27
    Member
    1570 posts
    Bumble bee
    • Wedding: August 2018 - Location

    I always use a tax software at home and have never had any issues. 

     

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