Taxes - Page 2

angelic1 · #1 02-05-2007, 04:42 PM

ok so its that time of the year... typically since graduating college I have done my taxes with turbotax each year. However this year I have started a new job where I work as a consultant. So I don't know if I should get someone else to do my taxes.

Basically this year I expense a lot of items for work then get reimbursed, I have been putting money into stocks, and have rolled over a 401K to an IRA and I am not sure how this will affect things.

I am figuring I should get someone else to do my taxes... how do you go about picking someone? Any info on companies such as H&R Block, what do I need to provide them with?

Basically I am clueless on this, and its kind of me figuring this out on my own.

AlphaFrog · #2 02-05-2007, 04:48 PM

My tax was done by Jan 28th. Refund should be here any day now.

I used taxengine.com, and it was free.

GeekyPenguin · #3 02-05-2007, 05:42 PM

I run a tax program for low income people and I usually TurboTax or TaxCut my own taxes - both of those programs really walk you right through everything.

KSigkid · #4 02-05-2007, 05:48 PM

My wife and I found someone through a friend at work, he's done our taxes the past three years and has been really good/really affordable. Other than that, I have a cousin who is a CPA who might do them this year.

I was going to try doing it myself, but with working in two seperate states, buying a house, and other stuff, it's just easier to send it to someone.

Munchkin03 · #5 02-05-2007, 11:30 PM

Quote:

Originally Posted by AlphaFrog

My tax was done by Jan 28th. Refund should be here any day now.

I used taxengine.com, and it was free.

It's only free if your AGI is below a certain amount.

I have to pay this year--when I changed jobs, I moved up an entire tax bracket. Fun.

Luckily it's not much.

Cardinal026 · #6 02-06-2007, 11:56 AM

I've always had my dad do them for me, and since I've been working in restaurants since I was 15 I typically get a very small return, and often owe money to the state.

But last year when I filed, the shady bar I worked in had altered everything that I declared I made in tips on top of not paying any Medicare (Medicaid?) which I guess is normally withheld on paychecks, so my dad has been helping me meet with a CPA to sort it all out. They're saying that I owe about $4000 and now that I don't work there, I don't have anything to prove that I always declared what I made, and didn't realize they'd changed my tips to the minimum - and my dad never knew what I made so he just went off the forms. Its a mess right now - I'm glad I have a "real" job and don't have to worry about cash income/declaring tips. Yuck. I'm hoping this year will be a lot smoother process!

jess_pom · #7 02-13-2007, 09:56 PM

My mom has her own tax business, so she does my taxes for me! She'll do your taxes, too, if you want, haha.

DeltAlum · #8 04-13-2002, 12:03 PM

Doing your own taxes when you're younger is actually pretty simple.

When you get to the point that you're itemizing deductions, you might want to try TurboTax or one of the other computer tax preparation systems. They lead you through step by step and are fairly accurate.

Now, at the point where Mrs. DeltAlum has a home based business, I do some freelance work outside my job, we own rental property (that oldest daugher lived in while in college), some investments and our youngest going to college next year -- no chance I'm going to come close to those tax forms. It's bad enough just gathering the materials to take to the accountant.

blueangel · #9 02-05-2007, 10:31 PM

Quote:

Originally Posted by DeltAlum

Doing your own taxes when you're younger is actually pretty simple.

When you get to the point that you're itemizing deductions, you might want to try TurboTax or one of the other computer tax preparation systems. They lead you through step by step and are fairly accurate.

Now, at the point where Mrs. DeltAlum has a home based business, I do some freelance work outside my job, we own rental property (that oldest daugher lived in while in college), some investments and our youngest going to college next year -- no chance I'm going to come close to those tax forms. It's bad enough just gathering the materials to take to the accountant.

I feel your pain. I have an LLC business in addition to my regular job, some real estate investment properties, and other investments. I'm at the point where I'm now paying my taxes quarterly.

Count your blessings that you only have to pay taxes once a year! I go through this every three months.

EE-BO · #10 02-10-2007, 09:53 PM

Quote:

Originally Posted by blueangel

I feel your pain. I have an LLC business

Mine started last year, but we are not yet fully operational- so no taxes and quarterly withholding to do until June. Plus now I get to start itemizing which stinks. Before I just took all the standard deductions.

I am a CPA, but have already hired a CPA to do all the LLC stuff. I don't know tax and I don't do tax.

Right now I am focusing my energy on making sure I hold back a lot of income so I can make those quarterly payments on time...

PiKA2001 · #11 02-10-2007, 11:05 PM

I have used turbo tax for the last seven years or so and have never had any problems ( other than today when I did my taxes and found out that I owe Uncle Sam 3 grand). It's free if you're low income or in the military.

SapphireSphinx9 · #12 02-11-2007, 12:24 AM

since i'm temping at a cpa firm until my own business can pay all of my bills (which i'm hoping will be very soon!!) i'm going to have them do it for me.

i've always gone to my accountant, because of all of my different forms (for employment, money market, cd's, tuition, and now my business, etc.) and find that i'd rather pay the extra $ for them to do it right, than me possibly making a mistake.

SmartBlondeGPhB · #13 02-11-2007, 04:18 PM

Quote:

Originally Posted by PiKA2001

I have used turbo tax for the last seven years or so and have never had any problems

I've used it about as long I think and it's been great for me.

alum · #14 02-11-2007, 04:39 PM

Quote:

Originally Posted by PiKA2001

I have used turbo tax for the last seven years or so and have never had any problems ( other than today when I did my taxes and found out that I owe Uncle Sam 3 grand). It's free if you're low income or in the military.

Not for all a-d!

ADPiSweety · #15 04-13-2002, 12:49 PM

I did my taxes this year, it was easy! After I paid back the 96 dollars I owed them it was pretty simple from there. So I go into the bank yesterday and the teller told me that I had a deposit and I said what? cuz i knew i didn't get paid till monday and he said your tax return. I was practically jumping up and down at the bank hehe.