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Bayou Tiger
LSU Fan
The Woodlands, TX
Member since Nov 2003
3365 posts

Will CPA Discuss Return Prepared in TurboTax?

My return is pretty much complete in TurboTax.

How much should I expect to pay a CPA to sit down and discuss the items on my return and if I may have missed anything?

Overall I don't need them to do data entry or the basics. But I would have my numbers available and forms printed to discuss tax strategy.


tigeralum06
LSU Fan
Member since Oct 2007
1419 posts

re: Will CPA Discuss Return Prepared in TurboTax?
Good luck finding a CPA who wants to look at your turbo tax crap in the middle of their busiest time.


Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
27340 posts

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

Good luck finding a CPA who wants to look at your turbo tax crap in the middle of their busiest time.


Please, they'll gladly take his money, and he'll pay the same as anyone else.


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LSUAfro
LSU Fan
Baton Rouge
Member since Aug 2005
11601 posts

re: Will CPA Discuss Return Prepared in TurboTax?
Yes. Call a CPA. Schedule an hour. They can give you their rate. Rates will vary.


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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
32144 posts

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

How much should I expect to pay a CPA to sit down and discuss the items on my return and if I may have missed anything?


You need to ask a CPA this question.

The answer will depend a lot on the state of your records. My guess though is that whether you used Turbotax or not isn't relevant, in order to provide an opinion said CPA will have to walk through it all over again anyway.

By doing that, a CPA will be able to identify opportunities to minimize your tax bill. If such opportunities likely don't exist then just stick with Turbotax.


Bayou Tiger
LSU Fan
The Woodlands, TX
Member since Nov 2003
3365 posts

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

If such opportunities likely don't exist then just stick with Turbotax.
Basically I am just going to get raped by taxes. The money is set aside but it will really bother me to part with it.

Primarily W2 income + AMT + no mortgage interest deduction = Bend over and grab ankles

I don't think there is anything a CPA could do beyond Turbotax deductions, but maybe it is worth a shot. Any ideas are appreciated. Right now I only have deductions for charitable donations and real estate tax (ETA not sure the real estate taxes even count in the calculation).
This post was edited on 1/23 at 5:43 am


Cajun Revolution
George Washington Fan
Member since Apr 2009
44671 posts

re: Will CPA Discuss Return Prepared in TurboTax?
I owe $2,600 between Federal and State. I've explored every avenue around it- even falsifying a justified reason to avoid a 10% penalty on the IRA distribution. I've been wondering the chances of getting audited for it if i claim medical premiums/expenses. It's a $3,900 swing. If they contact me- I'll just pay it.

Kind of wondering if its worth the gamble worst case I just hold the refund for a year, give myself time to set aside the money then pay in full. I admit, it's not genius lol


LSUchuck
LSU Fan
Member since Dec 2004
1449 posts

re: Will CPA Discuss Return Prepared in TurboTax?
We aren't in the business of reviewing turbotax returns. If you want to pay the normal rate we'd charge then fine.

I wouldn't try and enter anything in right now simply because they are still implementing the new patches from the laws congress passed. I had a client who hit the AMT before the patch in our program. We got an update the next day and the AMT went away. Still can't file though.


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Tigerpaw123
USA Fan
Louisiana
Member since Mar 2007
9970 posts
Online

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

I owe $2,600 between Federal and State. I've explored every avenue around it- even falsifying a justified reason to avoid a 10% penalty on the IRA distribution. I've been wondering the chances of getting audited for it if i claim medical premiums/expenses. It's a $3,900 swing. If they contact me- I'll just pay it.

Kind of wondering if its worth the gamble worst case I just hold the refund for a year, give myself time to set aside the money then pay in full. I admit, it's not genius lol



does not sound like a good plan, would not advise doing this, and you are assuming they will only come after you for tax owed, and not prosecute you for tax fraud
This post was edited on 1/23 at 11:27 am


Cajun Revolution
George Washington Fan
Member since Apr 2009
44671 posts

re: Will CPA Discuss Return Prepared in TurboTax?
Prosecute me over $3,900? Come on now.


foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
32144 posts

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

Prosecute me over $3,900? Come on now.


It will be a good deal more than $3900 by the time the dust settles. This is one of the few situations in which it is probably advisable to put the money on a credit card if you have to.


Tenforty1728
LSU Fan
Baton Rouge
Member since Oct 2012
64 posts

re: Will CPA Discuss Return Prepared in TurboTax?
I'm a CPA and we HATE getting returns that are started by someone else in Turbotax. They usually have numerous inaccuracies and take 3/4 of the time to review as starting from complete scratch. That's why the bills don't seem as low as people think they should for "looking over my turbotax." When you change one number on a return a number of things can change. We end up having to put it in our system usually which takes time.


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CajunFootball
USA Fan
Jackson, Mississippi
Member since Oct 2010
19432 posts

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

I've been wondering the chances of getting audited


It'll depend on a few things. One thing to note is the statue of limitations will never expire due to fraud. So they'll always be able to audit that years tax return and then charge you 5% interest per month on the amount you owe them. They have the burden to prove your taxes were falsified, but if they do that you'd be screwed.


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
78182 posts
Online

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

They have the burden to prove your taxes were falsified, but if they do that you'd be screwed.


The state surely doesn't think this way, I got a tax bill for 2009 from the lovely state of Louisiana even though I lived in Texas the entire year and it's up to me to prove I didn't live here.


Ford Frenzy
New Orleans Saints Fan
337 posts
Member since Aug 2010
5752 posts

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

The state surely doesn't think this way, I got a tax bill for 2009 from the lovely state of Louisiana even though I lived in Texas the entire year and it's up to me to prove I didn't live here.
we see this all of the time, the State of LA is a joke when it comes to this...whatever you do, fight it and don't pay it


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
78182 posts
Online

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

we see this all of the time, the State of LA is a joke when it comes to this...whatever you do, fight it and don't pay it



I sent them 2 months utility bills
daycare bill
bill of sale when I bought house in LA in 2010
W-2s
1040


Ford Frenzy
New Orleans Saints Fan
337 posts
Member since Aug 2010
5752 posts

re: Will CPA Discuss Return Prepared in TurboTax?
basically send everything under the sun that shows your Texas address, driver's license if you changed it, vehichle registrations, write them a letter with it all explaining you didn't live in LA...which address did you use on the 1040?

I'm assuming you used your LA address since you got the notice from the state, the IRS will forward 1040s to the state and the state will automatically send notices to all LA address that didn't file LA returns
This post was edited on 1/24 at 9:13 am


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
78182 posts
Online

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

vehichle registrations


I sent that too, forgot to include it

quote:

which address did you use on the 1040?


Louisiana, I moved before filing in 2010


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SippyCup
New Orleans Saints Fan
Member since Sep 2008
1810 posts

re: Will CPA Discuss Return Prepared in TurboTax?
quote:

State of LA is a joke


What about every LLC filed with the state getting a notice for not filing a state return.

I called for a client and the dumb arse woman for the state wanted me to send in "the Louisiana PARTNERSHIP return". I had to speak to her supervisor because she insisted that the return needs to filed.
This post was edited on 1/24 at 11:02 am


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Cajun Revolution
George Washington Fan
Member since Apr 2009
44671 posts

re: Will CPA Discuss Return Prepared in TurboTax?
I'm just going to pay the $2,600 and deal with it. From what I understand that could balloon up to almost doubt between penalties and fees and interest if it just sits a year uncollected.


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