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Posted on 1/12/16 at 3:46 pm
Posted on 1/12/16 at 3:46 pm
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This post was edited on 8/29/17 at 1:34 pm
11
Posted on 1/12/16 at 4:17 pm to CQQ
quote:
Everything's been pretty straight forward until 2015. In 2015, we had a baby, sent 2 kids to 2 different daycares, rolled my 401k (Fidelity) from my previous employer to an IRA (Vanguard), refinanced her student loans so paid interest to Sallie Mae & SoFi, etc
That's pretty straightforward still...
CPA for that shouldn't run you more than $200-250
Posted on 1/12/16 at 4:49 pm to CQQ
You are still good to go with Turbotax if those are your most complicated events.
Posted on 1/12/16 at 7:07 pm to CQQ
I paid $175 last year and I live in a fairly small town. I could do my own most of the time but I usually have a problem every year or 2 where I need expert advice so I keep using a CPA.The one thing you will find is that many of them only fill out the forms and arent trying to save you money. Your best resource will be people you know that can give you some guidance on who to use.
Posted on 1/12/16 at 7:36 pm to CQQ
I paid $150
Posted on 1/12/16 at 8:38 pm to CQQ
Mine charged me $750 last year.
Posted on 1/12/16 at 9:31 pm to CQQ
I've used Robert Ehlers in Lake Charles for the past 3 years and been very satisfied. He's thorough and not expensive, can't remember what we paid last year off the top of my head but it wasn't more than $300.
Posted on 1/13/16 at 11:55 am to CQQ
I've been out of public accounting for a while and even when I was there I hardly touched Individual Taxation, but based on what you described--
Pick of a copy of Lasser's Income Tax Guide form your local library. If you have the time you can figure it all out. If you don't want to take the time, don't have the time, or want peace of mind you can call up a CPA, but you are most likely going to be paying for straight up compliance so keep that in mind and don't expect big savings or planning ideas.
Pick of a copy of Lasser's Income Tax Guide form your local library. If you have the time you can figure it all out. If you don't want to take the time, don't have the time, or want peace of mind you can call up a CPA, but you are most likely going to be paying for straight up compliance so keep that in mind and don't expect big savings or planning ideas.
Posted on 1/13/16 at 12:29 pm to CQQ
It would seem to me Turbotax could handle all of this, although you might need a higher version.
For a few months I worked at a very small shop (just 2-3 people) where they got away with charging $110 or $150 for a return. Some of these people may be good, but the vast majority of them are older men who are skimping on technology and training. I worked there thinking I would buy the practice but after one tax season I ran away.
I know their overhead is lower but I don't see how they can be competent and comfortable charging that low of a fee.
I can't get a return out of my current shop for less than $375. I could not get a return out of my shop when I worked in Houston for less than $900 (and that was 5 years ago).
For a few months I worked at a very small shop (just 2-3 people) where they got away with charging $110 or $150 for a return. Some of these people may be good, but the vast majority of them are older men who are skimping on technology and training. I worked there thinking I would buy the practice but after one tax season I ran away.
I know their overhead is lower but I don't see how they can be competent and comfortable charging that low of a fee.
I can't get a return out of my current shop for less than $375. I could not get a return out of my shop when I worked in Houston for less than $900 (and that was 5 years ago).
Posted on 1/13/16 at 1:52 pm to CQQ
I don't think you need to know the cost of an average return. You should be asking what is the cost of a simple return because your return does not have any issues to resolve. It is simply a matter of data entry and review the return for accuracy.
What you should be willing to pay for your return should be limited to the value you put on the time it would take you, or your wife, to prepare the return. If you value the lost leisure time, any frustration/aggravation and purchase of TurboTax at $200, then you should not be willing to spend more than $200. And $200 is at the high end of what you should have to pay a CPA for a simple return.
Yours is the type of return that an H&R Block type outfit is worth considering.
What you should be willing to pay for your return should be limited to the value you put on the time it would take you, or your wife, to prepare the return. If you value the lost leisure time, any frustration/aggravation and purchase of TurboTax at $200, then you should not be willing to spend more than $200. And $200 is at the high end of what you should have to pay a CPA for a simple return.
Yours is the type of return that an H&R Block type outfit is worth considering.
Posted on 1/13/16 at 2:12 pm to CQQ
quote:
would you guys recommend we go to a CPA?
No, Turbo Tax should be able to handle everything that you would need and then may be able to help you think of a few things you hadn't considered.
quote:
what is the average cost?
Depends, if you want them to simply prepare your taxes, you are looking at $200-300 depending where you are. If you are seeking tax advice, which sounds like what you are hinting at, then you could easily reach to the $500-750 range. Those that fill out the returns for around $200 typically just fill in the questions like your wife, just with a different software.
quote:
rolled my 401k (Fidelity) from my previous employer to an IRA (Vanguard),
As long as you didn't handle the check yourself and it was a direct rollover, this should be a non-issue. If you input your 1098 into Turbo Tax and it says you owe something, then I would talking to a CPA and seeing if they can give you some guidance.
What you may want to consider is having a meeting with a tax CPA (after 4/15) to schedule a tax planning meeting and trying to find ways to limit your tax liability in the future. But for preparing your return, I'd stick w/ Turbo Tax (unless the 401k issues pops up) this year.
Posted on 1/24/16 at 7:04 pm to Weekend Warrior79
I pay $300 to file our return with a CPA in Lafayette. Probably don't have to drive that far from BR, but my entire family uses him so it's a comfort factor. My return is pretty simple now that I do not have mortgage interest, have one child and my wife is in college. But I am currently in Ch. 13 and having the CPA do them and prepare them in a professional manner gives me a comfort factor that I don't get from using Turbo Tax.
Posted on 1/25/16 at 7:27 am to CQQ
I am single/0 and my return with a CPA in New Orleans is under $100. FWIW, It takes him 3 minutes and I'm always happy with the return.
Posted on 1/25/16 at 4:29 pm to subMOA
quote:
Mine charged me $750 last year.
Mine went up from $550 to $800 last year without prior notice. I was miffed when I got the bill. Paid it, but will be shopping around.
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