(Closed) Who does your taxes?

posted 4 years ago in Money
Post # 2
Member
1893 posts
Buzzing bee
  • Wedding: October 2017

View original reply
herrera2016 :  I have my taxes done by my uncle who is a CPA. I have Stock holdings and other things that make my taxes more difficult. I have done my FI’s taxes the last 4 years. It was pretty easy because he was renting at the time. This year, my uncle will do both of our as we bought a house. If you can get away with doing a 1040 EZ then I would say do them yourself. I wouldnt be comfortable doing anything more than that myself though.

I asked my uncle what he charges for taxes like my FI’s, and he said about $100.

Post # 3
Member
1602 posts
Bumble bee
  • Wedding: June 2018

I do them myself for free with turbotax. It’s pretty easy. You just need to have your W2 handy. If you have a lot of stocks and other assets, it can be a little more complicated. I just have 1 source of income (my full-time job) and I always fill out the part about student loan interest payments, and that’s basically it. 

Post # 4
Member
3088 posts
Sugar bee

Using a service is soooo 1900s. I use TaxAct Online and it is the easiest thing ever. 15 bucks and I am done. Unless you have a super complicated tax return (businesses, lots of assets, you’re an entrepreneur, etc.), I personally think paying a bunch of money is a waste.

Post # 5
Member
1191 posts
Bumble bee
  • Wedding: September 2017

I file on my own online for free, but mine is simple.  I just have my W2 and a 1099. 

Post # 6
Member
1931 posts
Buzzing bee
  • Wedding: October 2015

My mom, lol. She’s an accountant.

Post # 8
Member
922 posts
Busy bee
  • Wedding: June 2017

My dad. Tho I need to learn as he won’t be around forever.

I have investments and it gets complicated. and I bought a home in 2016 as well. Massive headache.

Post # 9
Member
4376 posts
Honey bee
  • Wedding: December 2016

We just use Turbo Tax online. This is the first year we’ve had to file jointly and it is definitely more complicated, but it’s going ok so far.

Post # 10
Member
4376 posts
Honey bee
  • Wedding: December 2016

View original reply
herrera2016 :  Oh, and they totally walk you through it. Like training wheels for taxes lol.

Post # 11
Member
5938 posts
Bee Keeper
  • Wedding: May 2014

View original reply
herrera2016 :  I’ve always done my own except one year and it was pretty expensive to go somewhere. We have nothing fancy to claim (no overseas businesses etc) so we just buy Turbo Tax. It gets filed online and we get our refund really quickly. But TT is like $50. $80 isn’t that much for someone to do it. I know I paid like $150 several years ago.

Post # 12
Member
5457 posts
Bee Keeper
  • Wedding: October 2017

I work in finance and I do all of our taxes, I did my Fiance’s coworkers taxes as well.

I use turbo tax and tax act, however, our taxes are pretty basic with mortgage deductions, flex spending for daycare, student loan interest. I’m comfortable tackling those but beyond that I would ask for help.

I love crunching numbers and what I loved about turbo tax and tax act is I ran our taxes through various different scenarios. We aren’t married so I ran them through to see who should claim our daughters and who should claim head of household or single etc to make sure that we received the best possible outcome. 

For me, for stock options and other complex (complex for me, anyway, I don’t do taxes in my profession) I would definitely seek advice before attempting on my own 

Post # 13
Member
3324 posts
Sugar bee
  • Wedding: September 2017

I started doing my own using simpletax.ca which is a ‘by donation’ site. My taxes are usually pretty simple, though each year they’ve gotten a bit harder lol. I used to have just the T4, last year had investments, this year will have investments + charity + extra t4, next year will be after we’re married, so no idea how thats going to go.

Most of the softwares you can buy are very simple to use and walk you through it. As long as you have all of your documents and take your time (and dont have insanely difficult ones) its very easy to do yourself. If its your first year filing as a married couple, you might want to have it done by a professional, and then use that as a ‘template’ for next year.

Post # 14
Member
9124 posts
Buzzing Beekeeper

View original reply
herrera2016 :  I use a tax professional, but he also happens to be my dad so the cost is right lol. Otherwise I would do them myself since we’re just two W-2 employees with a few investments and deductions – nothing crazy complicated. 

I didn’t have any problems on my federal when I changed my name, but my dad said he has about 50/50 success filing the state returns the first year after a married woman changes her name – sometimes the state is updated and sometimes the return is rejected because the name and SSN don’t match. If that’s the case she just files with her maiden name for that year and it’s fine the next. 

Post # 15
Member
1451 posts
Bumble bee

View original reply
herrera2016 :  $80 isn’t bad.  I’m a CPA and my firm would charge $500 minimum for a return.  Just to put it in perspective turbo tax charges $72 just for filing if you complete them yourself. 

Also to add we prepare our own.

The topic ‘Who does your taxes?’ is closed to new replies.

Find Amazing Vendors