|
Post by dragonfly7 on Jan 3, 2011 0:14:43 GMT -5
My husband has NEVER done his own taxes. His parents did his for him since they were also filling out the FAFSA, and I've done them with different programs since we married. It gets simpler every year.
|
|
NastyWoman
Senior Associate
Joined: Dec 24, 2010 20:50:37 GMT -5
Posts: 14,351
|
Post by NastyWoman on Jan 4, 2011 3:29:01 GMT -5
I use power tools, unclog toilets and do whatever maintenance is needed for my home but I refuse to do my taxes. I much prefer to give all my information to my CPA, write a check, and be done with it.
|
|
Poppet
Established Member
Joined: Dec 28, 2010 15:45:12 GMT -5
Posts: 364
|
Post by Poppet on Jan 4, 2011 13:51:41 GMT -5
I use an online program. I could do it on paper, but not thanks.
|
|
telephus44
Well-Known Member
Joined: Dec 23, 2010 10:20:21 GMT -5
Posts: 1,259
|
Post by telephus44 on Jan 4, 2011 14:04:52 GMT -5
I use Tax Cut, although this year I may try Turbo Tax. I am smart enough to figure the bits of tax code that apply to my situation. We are married and own a house - not stupidly simple, but not complicated, either.
|
|
MN-Investor
Well-Known Member
Joined: Dec 20, 2010 22:22:44 GMT -5
Posts: 1,937
|
Post by MN-Investor on Jan 4, 2011 22:52:46 GMT -5
mommydl - "...it's easier and SAFER for me to have someone do them for me....that way their name is on it and NOT mine!"
Nope. If you sign your tax return - as you are required to by law - your name is on the return and you are 100% responsible for it!
|
|
MN-Investor
Well-Known Member
Joined: Dec 20, 2010 22:22:44 GMT -5
Posts: 1,937
|
Post by MN-Investor on Jan 5, 2011 3:24:21 GMT -5
As a former tax professional, I've always done my own tax return.
I love TurboTax and maintain that most people can do their own tax return if their situation is not terribly complex and if it is consistent from year to year. If people are not sure about doing their own taxes, I've encouraged them to go to a professional, then examine what the professional has done. If their situation remains the same, they can use the prior year professionally prepared return for guidance on the current year's return.
For the first time, I was thrown for a loop doing last year's return. Our return is fairly simple, but we do own some stocks. However, instead of receiving a 1099 from one company, we got a K-1. Oops. I hadn't realized when we bought the stock that LINN Energy was not a regular old corporation. It is a "publicly traded limited liability company with partnership tax status." Between TurboTax and the information available at their website, I'm fairly confident I entered the information correctly. Even if I messed it up, it's a relatively minor amount for our tax return. But I can't imagine a non-tax person tackling that on their own!
|
|
happyscooter
Senior Member
Joined: Jan 5, 2011 9:04:06 GMT -5
Posts: 2,416
|
Post by happyscooter on Jan 5, 2011 9:39:14 GMT -5
How are people doing their taxes so early in the year? Most corporations don't send out W-2s until January 31. Most churches don't send out donation letters until the end of January.
|
|
Apple
Junior Associate
Always travel with a sense of humor
Joined: Dec 17, 2010 15:51:04 GMT -5
Posts: 9,936
Mini-Profile Name Color: dc0e29
|
Post by Apple on Jan 5, 2011 10:37:27 GMT -5
How are people doing their taxes so early in the year? Most corporations don't send out W-2s until January 31. Most churches don't send out donation letters until the end of January. If you have pretty basic taxes you can do this as soon as you get your last paystub for the year if everything is shown on it (total gross/contributions/etc) and you have kept track of all your donations. You can also read your last bank statement and know what your taxable interest is. Now that things are posted online it's pretty quick access too. I usually have my taxes done mid-January and turn them in beginning of February. I always have some kind of a refund (still trying to set the right balance of not having to pay, but not getting much back--would rather have the extra throughout the year) and most years see it in my bank account before the end of the month.
|
|
marvholly
Junior Associate
Joined: Dec 21, 2010 11:45:21 GMT -5
Posts: 6,540
|
Post by marvholly on Nov 15, 2014 6:47:34 GMT -5
Yes but I currently use one of the FREE online tax services since my situation is quite simple even w/my itemized deductions (real estate taxes put me WAAAY over standard deduction). I just have/ had W-2 or soc, interest & a small pension income for >10 years.
However, I did the family tax returns in the WAAAAY back when only mail-in paper was available and it was quite complex as late DH was in outside sales & we had only partly reimbursed expenses plus had to expense his car. The ONLY year we used an accountant we were audited.
|
|
dancinmama
Senior Associate
LIVIN' THE DREAM!!
Joined: Dec 18, 2010 20:49:45 GMT -5
Posts: 10,659
|
Post by dancinmama on Nov 19, 2014 13:28:49 GMT -5
It depends on the situation in the tax year at hand. For most years our taxes are fairly simple and I can do them myself (paper, pencil, and calculator ). There have only been a couple of years when I used software. For the 2013 tax year, I used a CPA. I also do DS's taxes every year.
|
|
The Captain
Junior Associate
Hugs are good...
Joined: Jan 4, 2011 16:21:23 GMT -5
Posts: 8,717
Location: State of confusion
Favorite Drink: Whinnnne
|
Post by The Captain on Nov 19, 2014 13:34:57 GMT -5
I have a Master's in Taxation. My DH would laugh his a$$ off if I had someone else do our taxes. I used to do some of my family's returns but they didn't value my time as much as I do, so I no longer do them.
My parents get free tax prep for life, and does my sis. She's mostly done her own the past decade or so but usually hits me up with a few questions come tax season.
I no longer prepare taxes on the side (other than those mentioned above). Between my paying job, and the two organizations that I do pro bono, I have enough on my plate.
|
|
Deleted
Joined: Apr 26, 2024 20:23:35 GMT -5
Posts: 0
|
Post by Deleted on Nov 20, 2014 16:47:09 GMT -5
I used to.
I live in State A and work in State B. I was too cheap to download a second state return and figured I could duplicate State A's calculations in Excel and fill in the blanks. It was WAY more complicated than it needed to be- too many "mini-worksheets" I had to create. I missed a few "gotchas" that understated our liability. Worse, I neglected to include a copy of our State B return with the State A return so State A set my credit for taxes paid to State B at zero and sent us a bill for almost $10K.
I found a decent CPA and he straightened it all out, but State A has come back several times asking for more stuff (things they could have asked for earlier, then things we'd already sent). I haven't heard from them recently so maybe we'll get our $72 refund soon.
So, I'll use him for 2014 We still have my wage income from State B this year, we have a pile of deductions (all well-documented) and a lot of investments over 3 brokerages. Plus my pension and DH's SS and the RMD from his IRA. He's going to charge about what he charged to straighten out the State taxes.
|
|
|
Post by The Walk of the Penguin Mich on Nov 20, 2014 19:23:47 GMT -5
I do my own taxes, now using Turbo Tax. I used to use Tax Cut, but had issues with it one year so switched over.
|
|