Pay somebody to do my taxes? |
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Spradle
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Location: UT |
Pay somebody to do my taxes? |
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Or is it easy enough to do on my own? I am willing to research a small amount if required.
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Fri Jan 28, 2011 2:52 pm |
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MrPolarZero
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Location: Aliso Viejo, California |
I suggest you to just do it on your own. Hiring someone to do your taxes might just be a bit costly.
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Thu Feb 10, 2011 5:06 am |
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Spradle
Contributing Member
Cash: $ 8.75
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Joined: 23 Jan 2011
Location: UT |
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.
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Thu Feb 10, 2011 1:43 pm |
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KatherineLee88
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Location: Iowa |
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).
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Thu Feb 10, 2011 2:30 pm |
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RichS
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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.
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Thu Feb 10, 2011 3:42 pm |
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Spradle
Contributing Member
Cash: $ 8.75
Posts: 38
Joined: 23 Jan 2011
Location: UT |
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.
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Sat Feb 12, 2011 11:20 pm |
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MrPolarZero
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Location: Aliso Viejo, California |
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.
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Mon Feb 14, 2011 5:20 am |
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Spradle
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Cash: $ 8.75
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Joined: 23 Jan 2011
Location: UT |
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.
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Thu Feb 17, 2011 1:35 pm |
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oldguy
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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.
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Fri Feb 18, 2011 6:20 pm |
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Phil Tanny
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Location: Gainesville FL USA |
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.
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.
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Fri Feb 18, 2011 10:37 pm |
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Spradle
Contributing Member
Cash: $ 8.75
Posts: 38
Joined: 23 Jan 2011
Location: UT |
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.
good point
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Mon Feb 28, 2011 10:03 pm |
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RichS
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Location: Seattle |
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.
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Mon Feb 28, 2011 10:22 pm |
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NolaP
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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.
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Tue Mar 01, 2011 2:43 pm |
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MrPolarZero
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Location: Aliso Viejo, California |
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.
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Wed Mar 02, 2011 1:05 am |
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