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re: Tax preparation for relatively simple finances
Posted on 2/6/15 at 9:26 am to LSUFanHouston
Posted on 2/6/15 at 9:26 am to LSUFanHouston
quote:You'd be surprised by the number of H&R Block franchises owned by CPAs and attorneys. I know a few who make a good living without putting in the hours required by active practice as a CPA or attorney.
No doubt he would be one of the most qualified people in the company... but the amount Block pays preparers is terrible.
1
Posted on 2/6/15 at 10:59 am to Poodlebrain
quote:
You'd be surprised by the number of H&R Block franchises owned by CPAs and attorneys. I know a few who make a good living without putting in the hours required by active practice as a CPA or attorney.
I'd love to meet a couple of those. I come across people from time to time who don't need and can't afford our fee structure. I would be fine sending them over to someone at a franchise if I knew they would do a good job. But... is the CPA/attorney actually preparing the returns, or just owning the franchise?
Posted on 2/6/15 at 2:10 pm to LSUFanHouston
I've used Freetaxusa.com for years with no problem for simple taxes. Basically just like Turbo Tax, but only $10 to file state (federal is free for 1040ez). It remembers your info, so it only takes about 30 min now. I don't really like paying more for their advertising (which goes for turbo, tax slayer, tax act, etc.). There is a list of approved online filing companies on the IRS site - that's where I found Freetaxusa.com.
Posted on 2/6/15 at 3:20 pm to LSUFanHouston
Some do nothing but own the franchise, but others do some of the preparation. The vast majority of the returns they prepare are simple returns with earned income credit claims. The preparers are reasonably well trained for handling those types of returns. More complicated returns are generally prepared by the owners, or if not prepared then reviewed before execution.
Posted on 2/7/15 at 4:14 pm to The Spleen
quote:
Only one I'd trust them with is a 1040EZ.
Anybody that uses this form should be able to do it themselves. Total waste if you are paying an accountant to do a 1040EZ.
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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