A Question about Taxes.. - The Orange Mane

SoDak Bronco · 03-16-2009, 12:08 PM

I have a question about taxes, and whether it is easy enough to do them myself, or if it is worth the 100-150 dollars to pay someone to do them for me. I think I could probably handle doing them myself, wondering if anyone has any advice on this subject.

Do most of you get them done professionally, or is it easy enough to do them yourself? What are some things that will keep you off the radar if you do them yourself?

Thanks!

atomicbloke · 03-16-2009, 12:11 PM

I think you should contact Bus Cook.

Smiling Assassin27 · 03-16-2009, 12:12 PM

Depends. If you own your own business, have rentals, royalties, captial gains, etc., it could be worth the time and money to have a pro do it. I use Turbo Tax and have had no issues at all (i've had all of the above, btw). The program is easy and straightforward, IMO.

Smiling Assassin27 · 03-16-2009, 12:13 PM

Quote:

Originally Posted by atomicbloke

I think you should contact Bus Cook.

rugbythug · 03-16-2009, 12:14 PM

turbo tax- I have a dozen rentals a couple of jobs and get through it in a day. If you use an accountant you have to pay them more and still answer all the questions anyway.

DomCasual · 03-16-2009, 12:14 PM

Quote:

Originally Posted by SoDak Bronco

I have a question about taxes, and whether it is easy enough to do them myself, or if it is worth the 100-150 dollars to pay someone to do them for me. I think I could probably handle doing them myself, wondering if anyone has any advice on this subject.

Do most of you get them done professionally, or is it easy enough to do them yourself? What are some things that will keep you off the radar if you do them yourself?

Thanks!

I think it's absolutely worth having someone else do them for you. Just avoid the clowns like H&R Block.

I mostly do my own now. But that was only after having someone else do them for about ten years. After awhile, I pretty much understood what they were going to do, anyway. And I always felt a little awkward going over them with someone.

This is all assuming your going to itemized deductions. If you aren't, then doing them yourself is about as easy as it gets.

Crushaholic · 03-16-2009, 12:16 PM

Post disclaimer: I am a tax professional

Now, it's possible to do your taxes on your own. However, you may not be aware of all the credits owed to you. For example, some people didn't get everything on the stimulus check they were owed last year, for one reason or another. The Recovery Rebate Credit will help fill in that gap. A tax professional can help you with that. Higher education credits vary, depending on if you took the Hope credit for the first two years of college. A tax professional can help you with that. Charity contributions may or may not be deductible, depending on if you received goods and services for your contribution. A tax professional can help you with that. Plus, a tax professional can assist you with an IRS audit, should it come to that. There are a lot of good reasons to use a tax professional, because they "supposedly" have been trained to figure out the complex tax code...

SoDak Bronco · 03-16-2009, 12:19 PM

How much do they charge to use Turbo Tax? I don't own any rentals ect, pretty straight forward, my wife and I both work, and we will be able to claim 1 kid this year which I hear helps

.

WolfpackGuy · 03-16-2009, 12:33 PM

I still do mine by hand because I'm too cheap to get Turbotax, and I don't have any kids or a lot of deductions meaning my return is pretty simple. You get the money within 3 weeks with direct deposit. Those tax return places are a ripoff.

ColoradoDarin · 03-16-2009, 01:07 PM

TaxCut > TurboTax

TaxCut is a version of the same software that you'd find if you went to and HR Block office and had them do your taxes. Costs $50 and It's pretty easy to do - took me about 2 hours with income, interest, cap gains (ahem, losses), health savings acct, dividends and itemizing. I've used it for the last 7 years and TT before that. I did efile for the first time this year (it came with a free efile) and it rocks. Plus you get a PDF of your entire return so you don't have to print everything out (mine was 75 or so pages including the worksheets) that I burned onto a cd and kept with my receipts for safekeeping.

TailgateNut · 03-16-2009, 01:12 PM

Turbo tax comes with free e-filing and has everything you need, unless you were on the short bus while in school.

BroncoMatt · 03-16-2009, 01:24 PM

I have used turbo tax online for the past few years. Very easy and it stores the returns. I can access any of my past years returns just by logging on.

Bladerunner · 03-16-2009, 01:24 PM

I use www.taxslayer.com

I don't itemize, so It's easy. It's fast. And, since I'm in the military, it's free. I would recommend them.

03-16-2009, 12:08 PM	#1
SoDak Bronco Lace em' up and lets go!! Von Miller aka QB Killa Join Date: Jun 2005 Location: South Dakota Posts: 4,132 Adopt-a-Bronco: Robert Ayers	A Question about Taxes.. I have a question about taxes, and whether it is easy enough to do them myself, or if it is worth the 100-150 dollars to pay someone to do them for me. I think I could probably handle doing them myself, wondering if anyone has any advice on this subject. Do most of you get them done professionally, or is it easy enough to do them yourself? What are some things that will keep you off the radar if you do them yourself? Thanks!

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03-16-2009, 12:11 PM	#2
atomicbloke Ring of Famer La 12 Boca Juniors Join Date: Nov 2005 Location: Albuquerque, NM Posts: 2,347 Adopt-a-Bronco: Offensive Line	I think you should contact Bus Cook.

03-16-2009, 12:12 PM	#3
Smiling Assassin27 STOP! KIPER TIME! Join Date: Dec 2002 Location: In a van down by the river Posts: 10,976 Adopt-a-Bronco: Von Miller	Depends. If you own your own business, have rentals, royalties, captial gains, etc., it could be worth the time and money to have a pro do it. I use Turbo Tax and have had no issues at all (i've had all of the above, btw). The program is easy and straightforward, IMO.

03-16-2009, 12:14 PM	#5
rugbythug Church Eyes. Salty Dog Join Date: Aug 2006 Posts: 3,788 Adopt-a-Bronco: Mr. Miller	turbo tax- I have a dozen rentals a couple of jobs and get through it in a day. If you use an accountant you have to pay them more and still answer all the questions anyway.

03-16-2009, 12:16 PM	#7
Crushaholic Armchair Poster Join Date: Dec 2003 Location: Topeka, KS Posts: 22,043	Post disclaimer: I am a tax professional Now, it's possible to do your taxes on your own. However, you may not be aware of all the credits owed to you. For example, some people didn't get everything on the stimulus check they were owed last year, for one reason or another. The Recovery Rebate Credit will help fill in that gap. A tax professional can help you with that. Higher education credits vary, depending on if you took the Hope credit for the first two years of college. A tax professional can help you with that. Charity contributions may or may not be deductible, depending on if you received goods and services for your contribution. A tax professional can help you with that. Plus, a tax professional can assist you with an IRS audit, should it come to that. There are a lot of good reasons to use a tax professional, because they "supposedly" have been trained to figure out the complex tax code...

03-16-2009, 12:19 PM	#8
SoDak Bronco Lace em' up and lets go!! Von Miller aka QB Killa Join Date: Jun 2005 Location: South Dakota Posts: 4,132 Adopt-a-Bronco: Robert Ayers	How much do they charge to use Turbo Tax? I don't own any rentals ect, pretty straight forward, my wife and I both work, and we will be able to claim 1 kid this year which I hear helps .

03-16-2009, 12:33 PM	#9
WolfpackGuy Call me, "Maybe" Join Date: Jan 2006 Location: Delaware Posts: 5,675	I still do mine by hand because I'm too cheap to get Turbotax, and I don't have any kids or a lot of deductions meaning my return is pretty simple. You get the money within 3 weeks with direct deposit. Those tax return places are a ripoff.

03-16-2009, 01:07 PM	#10
ColoradoDarin Ring of Famer AFCW Champs! Join Date: Aug 2005 Location: St Augustine, FL Posts: 5,524 Adopt-a-Bronco: Knowshon's Shoe	TaxCut > TurboTax TaxCut is a version of the same software that you'd find if you went to and HR Block office and had them do your taxes. Costs $50 and It's pretty easy to do - took me about 2 hours with income, interest, cap gains (ahem, losses), health savings acct, dividends and itemizing. I've used it for the last 7 years and TT before that. I did efile for the first time this year (it came with a free efile) and it rocks. Plus you get a PDF of your entire return so you don't have to print everything out (mine was 75 or so pages including the worksheets) that I burned onto a cd and kept with my receipts for safekeeping.

03-16-2009, 01:12 PM	#11
TailgateNut Bleedin' orange! .......as much as tebonites Join Date: Dec 2002 Location: Mile High Posts: 20,018 Adopt-a-Bronco: Howard Griffith	Turbo tax comes with free e-filing and has everything you need, unless you were on the short bus while in school.

03-16-2009, 01:24 PM	#12
BroncoMatt The Blizzard Man Check My Style Out Join Date: Oct 2001 Location: California Posts: 1,559	I have used turbo tax online for the past few years. Very easy and it stores the returns. I can access any of my past years returns just by logging on.

03-16-2009, 01:24 PM	#13
Bladerunner Ring of Famer ...Two weeks from everywhere! Join Date: Jul 2006 Location: California Posts: 1,125 Adopt-a-Bronco: Willis McGahee	I use www.taxslayer.com I don't itemize, so It's easy. It's fast. And, since I'm in the military, it's free. I would recommend them.