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Started By
Message
Tax preparation for relatively simple finances
Posted on 1/22/15 at 11:37 am
Posted on 1/22/15 at 11:37 am
I've used a guy in Birmingham for years, but it's time to sever that cord as I've been paying $150-200 the past few years.
My situation is pretty simple. I'm under 30, work, contribute to retirement, have a kid, and own a home. I take a standard deduction right now because it just makes sense. That's about as unique as it gets.
I've never used low-cost tax prep companies, so I'm asking you guys to let me know your experiences with those types of companies... maybe some pitfalls to avoid as well?
TIA.
My situation is pretty simple. I'm under 30, work, contribute to retirement, have a kid, and own a home. I take a standard deduction right now because it just makes sense. That's about as unique as it gets.
I've never used low-cost tax prep companies, so I'm asking you guys to let me know your experiences with those types of companies... maybe some pitfalls to avoid as well?
TIA.
8
Posted on 1/22/15 at 11:42 am to Cmlsu5618
When I had a similar return as yours, TurboTax was the way I went. Very easy, paid about $40, and had no problems.
The only reason I went to a CPA was because of stocks. I honestly could probably do it pretty easy on TurboTax, but I just do not trust myself.
The only reason I went to a CPA was because of stocks. I honestly could probably do it pretty easy on TurboTax, but I just do not trust myself.
Posted on 1/22/15 at 11:44 am to Cmlsu5618
Are you not using the guy because he's too expensive?
Buy Turbotax and use that.
I would never recommend the retail chains. They have no idea what they are doing and they really aren't all that cheap. Seriously, you can do a better job with the software than paying those store places.
Buy Turbotax and use that.
I would never recommend the retail chains. They have no idea what they are doing and they really aren't all that cheap. Seriously, you can do a better job with the software than paying those store places.
Posted on 1/22/15 at 12:48 pm to Cmlsu5618
Long time lurker but first time poster. No experience with TurboTax, TaxAct, TaxSlayer, etc. $150-$200 is not a bad deal, but you can do it yourself for sure on one of those wedsites.
Most people in your situation (owning a home) would itemize their deductions. Mortgage int + prop taxes + car tags + charitable contributions + State income taxes > standard deduction.
Most people in your situation (owning a home) would itemize their deductions. Mortgage int + prop taxes + car tags + charitable contributions + State income taxes > standard deduction.
Posted on 1/22/15 at 1:10 pm to Cmlsu5618
Jeez.
Just take the free option online for turbo tax and plug it into the state website.
Just take the free option online for turbo tax and plug it into the state website.
Posted on 1/22/15 at 1:41 pm to Cmlsu5618
quote:
My situation is pretty simple. I'm under 30, work, contribute to retirement, have a kid, and own a home. I take a standard deduction right now because it just makes sense. That's about as unique as it gets.
Either the free TurboTax online, or, if that one won't do it, go with the lowest tier from either TurboTax or H&R Block that will meet your minimum requirements.
I wouldn't overspend and am probably switching to H&R Block this year because of Intuit's Operation Cash Grab, 2015 (amping up those of us to Premier if we have any capital gains/losses - with a $30 to $40 kicker).
Posted on 1/22/15 at 1:58 pm to Cmlsu5618
turbo tax is really easy. it will be able to auto populate most stock transactions from whatever service you use for that.
Posted on 2/6/15 at 8:45 am to Cmlsu5618
Posted on 2/7/15 at 7:03 pm to Cmlsu5618
If you own a home and you and your wife make decent money then you likely could be itemizing just between mortgage interest and state tax deduction. Not to mention the child and dependent care deduction you could be missing out on or the school expense and fair plan on the LA return. Not knowing can cost you more than the $200 it would cost to see a CPA.
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