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Started By
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Posted on 1/23/23 at 2:50 pm to Yukon7
quote:
I fall under this category since i moved in March. I thought turbo tax could do this. Am i better off going to a professional?
I would not trust turbo tax with this. The states don't all treat everything the same.
Posted on 1/23/23 at 7:33 pm to macatak911
quote:
glaring issue. For example, this past week I reviewed a TurboTax return where the guy was renting out a portion of his home on AirBnb and he was depreciating his entire home over 29.5 years.
Yeah, baw should have used 27.5 years.
Posted on 1/24/23 at 5:40 pm to bobdylan
With my multiple TD Ameritrade accounts and shite I got to where I just pay a friends of the families who own a business to do it.
Bring him all my stuff as well as an itemized quicken portfolio and let them decide if I have enough to itemize with my homeschooling and that vs standard deduction.
$180 and everything is taken care of. He's the most meticulous person I know and it gives me a piece of mind should I get audited.... and I have years ago.
Stressed me the hell out.
No more.
Bring him all my stuff as well as an itemized quicken portfolio and let them decide if I have enough to itemize with my homeschooling and that vs standard deduction.
$180 and everything is taken care of. He's the most meticulous person I know and it gives me a piece of mind should I get audited.... and I have years ago.
Stressed me the hell out.
No more.
Posted on 1/25/23 at 12:31 pm to Geaux Guy
They are like a airplane pilot. You don't really appreciate them until you really need them.
Posted on 1/25/23 at 7:45 pm to thejudge
quote:
$180 and everything is taken care of.
If that isn’t the friends and family rate he’ll be changing careers soon or retiring
Posted on 1/25/23 at 9:07 pm to macatak911
quote:
If that isn’t the friends and family rate he’ll be changing careers soon or retiring
It is.
He's actually fiy retiring. Last year for em.
Glad for him. 40 years is a long time to be in the field.
Posted on 1/26/23 at 6:12 am to Geaux Guy
I saw TurboTax has an option where you can pay a “tax expert” to prepare your return. $169-$359 is the range. LINK
They say they match you with an expert based on your situation, offer various guarantees, and a few other perks like audit support and year round advice.
Seems like a good deal but I could me missing something.
Anyone have experience with this option?
They say they match you with an expert based on your situation, offer various guarantees, and a few other perks like audit support and year round advice.
quote:
Tax experts are available year-round for questions and tax advice, but you may not be connected with the specific tax expert who prepared your tax return.
Seems like a good deal but I could me missing something.
Anyone have experience with this option?
This post was edited on 1/26/23 at 6:19 am
Posted on 1/26/23 at 3:27 pm to ItzMe1972
quote:
ALL tax strategy works unless you're audited!
Don't forget to depreciate the land, king!
Posted on 1/26/23 at 4:17 pm to Geaux Guy
I use one and I don’t have to. Mine is super simple but I do it for peace of mind . It’s like $140 or something
I use my parents tax person and theirs is much more complicated with heavy equipment depreciation and small business stuff and gambling winnings and writing losses off too. She earns her money doing their taxes for sure
I use my parents tax person and theirs is much more complicated with heavy equipment depreciation and small business stuff and gambling winnings and writing losses off too. She earns her money doing their taxes for sure
This post was edited on 1/26/23 at 4:18 pm
Posted on 1/27/23 at 7:11 am to SaintsTiger
quote:
I saw TurboTax has an option where you can pay a “tax expert” to prepare your return. $169-$359 is the range
There was recently a thread on here discussing that. They hire small time CPAs and EAs who want to "work for themselves" but don't want to pay for overhead, don't want to look for clients, etc.
You are likely to get a better result with them than you would with the chain tax places and with the guys who advertise in the hood in the spring.
You won't get much tax planning, though. For a lot of people, that's fine.
Posted on 1/28/23 at 12:25 pm to Geaux Guy
Yes they are. For a simple return you can probably get it done for $125
Posted on 1/28/23 at 12:29 pm to Tvilletiger
quote:
Yes they are. For a simple return you can probably get it done for $125
Most CPA/EAs are in the min fee range of 350-400 for even the most basic. (not talking preexisting clients/friends/family/feel bads....strictly new engagements.)
$125 is undercutting TurboTax full service by about $125-150.
This post was edited on 1/28/23 at 12:30 pm
Posted on 1/29/23 at 9:05 am to Geaux Guy
If you have anything more than a W2, a tax preparer is definitely worth it. Can’t say that all CPAs are good(many are way too rigid about deductions) but ask who your small business friends are using.
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