Taxes

Don S. · Mar 28, 2010

Do any of you do your own taxes?

old bc · Mar 28, 2010

I did use Turbo-Tax but now I trade computer repair time with a CPA and he does mine for free.
He works at the local medical clinic and does taxes and accounting work at night.

kyhayman · Mar 29, 2010

I havent since the early 90's. I'd always owed a little when I did mine, then, when I sprang for a whole 200 bucks to get a CPA to do mine I got a 2000 dollar refund. Every year until this past one she has got me a refund. That doesnt even begin to address what happened when I got audited. I'm sure glad I didnt have to show my audit paperwork to a 'box'. Took the stuff to my CPA and she held my hand through the whole thing. Other than the initial interview I never even had to talk to them, she handled everything. When it was all said and done I owed her an extra thousand and didnt owe the IRS anything more than what I had paid. Its a bargain, no matter what she charges.

JMS/.MN · Mar 29, 2010

Not since I started farming. Had a LPA for the first 16 years, been with a CPA who is one of at least 6 partners, for over 20 years. Their experience and knowledge complement one another, and are well worth the $500+ per year expense. In one instance, I described certain unusual conditions regarding a property sale, he went to the firm library, and copied the page out of the book that duplicated those conditions. Family members" so called tax advice was totally wrong, and 3 in-laws returns would have been impacted. Important to deal with competent folks.

MarkB_MI · Mar 29, 2010

I do my own taxes, which includes my job, my wife's self-employment, three rental properties and partnership income. I also do the taxes for the partnership. Should I pay somebody to do my taxes? Probably. But most of the work is organizing everything, not the tax forms themselves. I've made plenty of mistakes, but the IRS is very "helpful" in pointing them out to me.

What astounds me are people with very simple returns that take them to tax preparers. Even the long form is simple for most people's returns, and once you start going to H&R Block you'll never learn to do it yourself.

Ultradog MN · Mar 29, 2010

I'm a little sole proprietorship and take a lot of deductions, depreciation etc.
I've had mine done for about 20 years now. The $500 you spend on tax work is tax deductable and I always feel a little safer sending in those forms with my CPA's name and signature next to mine.

kyplowboy · Mar 29, 2010

CPA's are like lawyers, they sure charge alot per hour but they are worth every penny. With my public job, wife's job, investments, farm, and a rental property I don't want to try to fill every thing out my self. I do most of the work myself, sorting everything and adding every thing up. I take w2's and bank statements but for farm I take two detailed list, an in and an out list. He puts the numbers where they need to go and the piece of mind is worth every penny I pay.

Dave

El Toro · Mar 29, 2010

I do mine since I don't have any deductions that would exceed the standard deduction. When I had rental proptery I had a CPA do them never had an audit. If you found he failed to claim something he would file an amended return. Hal
PS: I have the state taxes filed by one of their local offices and it's free. Hal

Spook · Mar 29, 2010

I use TurboTax. My wife has a business, so we have to do the schedule c. I used to do it by hand, but the program makes the little mistakes less likely.

Dean · Mar 29, 2010

I've always done my own and still do.

Dean

1936 · Mar 29, 2010

First time in many years I did taxes on my own after the CPA (two) different ones made errors 50% of the time on the simple form-I caught the errors my self.

paul · Mar 29, 2010

Nope. A good CPA charges too much, but is well worth it with depr and changing tax laws. I value his side comments on things to do, ways to avoid taxes _next_ year moreso than his doing the paperwork.... That's where his check is worth it.

--->Paul

Coloken · Mar 29, 2010

I do my own...its pretty simple any more.
I did them long-hand until I found tax-act.
Its got a free version that did the printing etc. for me..It had no problem with 1040F.
Like I said, its free and a download so could save you a bunch of writing.
If your complicated, get an expert.
KennyP

Coloken · Mar 29, 2010

I do my own...its pretty simple any more.
I did them long-hand until I found tax-act.
Its got a free version that did the printing etc. for me..It had no problem with 1040F.
Like I said, its free and a download so could save you a bunch of writing.
If your complicated, get an expert.
KennyP

D.B. in Mi. · Mar 29, 2010

I used to do mine and a few friends taxes by hand. Then after a while I switched to turbo tax. But now That I am married and the wife has part ownership in a business, we use a cpa. It is just much easier to let them handle all the headaches.They can also give us tips on how to better our tax situation.

Anonymous-0 · Mar 29, 2010

You are right, CPA's do charge a lot. BUT, they often don't earn it. I have seen CPA's make some horrible mistakes. They also frequently have low paid underlings who do most of the work, then you pay for the big guys time. The best tax preparers I have worked with were mot the CPA's in the group.

Nebraska Cowman · Mar 29, 2010

No, I used to and I have a pretty good head for figures. But I used to lay awake nights and wonder if I did this or that right. Now I take my totals to H&R block and go home and sleep.

big jt · Mar 29, 2010

Nope and never have. Pay my attny a little over $100 a year to do them and am pretty sure that the money he saves me more than makes up for his fee.

LAA · Mar 29, 2010

Always have and always will, I have never understood why some people believe that a paid tax preparer is going to go out on a limb for them for an average 200-300 dollar fee.

Anonymous-0 · Mar 29, 2010

CPA, I was a target for a audit, and it was play paper chase for two and a half years. It cost more than a arm and leg, but those so called friendly IRS folks can be real jerks.

I will bet anyone that there are mistakes on their returns if they come looking for troubles. And I will often address the issue of the poor souls that assume their canceled checks are legal recipts for the IRS. You may get a wake up call.

A good CPA will get in their face, and go over the zit faced Barney's head and bring smoke on them from above. It seems that after twice of the CPA going over their heads that they were more willing to settle.

My CPA found two critical errors the auditer had made, but reported them on different days--he is a real drama queen.

My CPA used to work for the IRS, and I think that is a plus in many ways.

guido · Mar 29, 2010

Hello El Toro,
I get my federal return done by the local IRS office, but they told me that they do not do the state. Where your state retunes filed by the federal IRS, or the state tax office?
Guido.

1936 · Mar 29, 2010

Cowman a couple of low lifes in the Chicago area working for H & R took the information and picked up a few credit cards and run straight to Victory Serect among other stores.

730 virgil · Mar 29, 2010

tax man mrs 730 is retired teacher, we own a mini farm and i have stock in ethanol plant.
the way that has been the last 2 years it would be
a headache to figure that out unless you deal with that kind of stuff often.

barn E · Mar 29, 2010

Did them fine for 40 years with business and rental houses, too. Probably would still be doing them but wife don't seem to trust me anymore. Age discrimination, I guess. Dave

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