Tax prep- Software vs accountant
Thread Starter
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Postmaster
Joined: Sep 2002
Posts: 3,077
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From: None of your business
Tax prep- Software vs accountant
What do you guys use? I have fairly straight forward taxes.
Married filing jointly
Mortgage interist
School Tuition
Car, state, local taxes
Union and professional dues
Property taxes
I've also heard that firefighters can write off meals and monthly health insurance fees. I'm pretty sure the on the meals, not so much on the health insurance premiums.
So I have access to an accountant for free. While this makes sense, I want my money right now and I'm not sure if he's going to know all the FF deductions.
Or buy Turbo Tax or Tax Cut and do it myself.
I do want the most money back that I can get, and I want it fast.
Mike
Married filing jointly
Mortgage interist
School Tuition
Car, state, local taxes
Union and professional dues
Property taxes
I've also heard that firefighters can write off meals and monthly health insurance fees. I'm pretty sure the on the meals, not so much on the health insurance premiums.
So I have access to an accountant for free. While this makes sense, I want my money right now and I'm not sure if he's going to know all the FF deductions.
Or buy Turbo Tax or Tax Cut and do it myself.
I do want the most money back that I can get, and I want it fast.
Mike
Moderator
Joined: May 2007
Posts: 158,284
Likes: 11,952
From: Greenfield, MA
Hey Mike...since the accountant is free...why not do both??? That way you can compare the refunds that each calculates and go for the better one. Ideally...there shouldn't be a difference...but...unless the accountant is a tax specialist...he may not be up to date on all the tax code changes. I personally use a retired CPA...who is a licensed tax preparer. He used to work for Ford in the late sixties. He charges me less now than he did ten years ago. Good luck!!!
Token Redneck
Joined: Jun 2007
Posts: 9,335
Likes: 343
From: Breckenridge, TX
If the accountant is an accountant worth working with, he can look up those deductions in the tax code for you. I would try to look it up for you, but my condensed code is at home and I'm at school, and I don't have electronic access anymore. Or you can ask the an HR rep in your dept. about it, usually govt. entities are good about tax info.
Computer wise, use Turbo Tax over Tax Cut.
Computer wise, use Turbo Tax over Tax Cut.
Thread Starter
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Postmaster
Joined: Sep 2002
Posts: 3,077
Likes: 1
From: None of your business
Cool deal. I'm sure this guy is a CPA now that I think about it because my father in law uses him to do his taxes for his law firm. I'll just do that, especially knowing that he can e-file it.
Mike
Mike
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Joined: Oct 2006
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From: Where's my map???
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Hotshot
Joined: Apr 2004
Posts: 13,589
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From: NW burbs of chicago
i used turbo tax last year, and planned on it the year before, but the the companies accountant did em for me, Since I already had TT, i did it that way, thinking i'd file whatever way was better. they came out the same.
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Senior User
Joined: Oct 2007
Posts: 246
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From: Southern Idaho
I used to do my own taxes. I never did us a box though. Its really not that hard, just time consuming.
I now take mine to an accountant, I drop it off, he calls me and lets me know what is happening. I pay him and I'm done. Its just so much easier for me to have someone else do it.
I now take mine to an accountant, I drop it off, he calls me and lets me know what is happening. I pay him and I'm done. Its just so much easier for me to have someone else do it.
Cargo Master
Joined: Apr 2003
Posts: 3,476
Likes: 224
From: Frequently frozen MN
I'd go for the accountant, but I hate tax software.
Normally, I enter all of the forms into Excel, and I link all of my tax data to the appropriate cells. However, one year I tried one one of the packages -- Turbo Tax, I believe. Here's what I didn't like.
1. Asked questions and filled out entries without really showing me what was happening
2. If I backed up to change something, I had to go back through all of the steps after that -- at least it seemed like I did.
3. It suddenly decided that it needed an UPDATE -- this has happened to others I know.
Anyway, it worked out, but it seemed to muddy what is a pretty straightforward process. You can ask an accountant to show you what he/she is doing.
ford2go
Normally, I enter all of the forms into Excel, and I link all of my tax data to the appropriate cells. However, one year I tried one one of the packages -- Turbo Tax, I believe. Here's what I didn't like.
1. Asked questions and filled out entries without really showing me what was happening
2. If I backed up to change something, I had to go back through all of the steps after that -- at least it seemed like I did.
3. It suddenly decided that it needed an UPDATE -- this has happened to others I know.
Anyway, it worked out, but it seemed to muddy what is a pretty straightforward process. You can ask an accountant to show you what he/she is doing.
ford2go
Posting Guru
Joined: Apr 2005
Posts: 2,246
Likes: 2
From: Hawkeye Country
I've never used tax software or a accountant, I write it out long hand and do it the old fashion way. I keep all my receipts over the year and I itemize the hell out of everything.
Since I have no life filling out my tax forms is a way to blow a Saturday afternoon.
Since I have no life filling out my tax forms is a way to blow a Saturday afternoon.
Post Fiend
Joined: Jan 2003
Posts: 10,323
Likes: 2
From: Montana Territory
I've used TaxCut for about 4 years now... Since I can't get back more than I pay in (except this year, thanks to the $600 rebate) and I've always gotten all my federal taxes back, I'm not too worried.