Tax preparation advice needed...who do you use?

Beemerguy53

Beemerguy53

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I've used the same accountant for about 15 years to prepare my taxes, but for several reasons, I won't be using him this year, so I'm looking at alternatives.

My sons really like TurboTax, and are urging me to try it.

A good friend uses another accountant who he says does a good job for him.

And then there are the storefront services, such as H & R Block, that claim to be so good.

What's your opinion on this, folks? Who does your taxes?

Thanks in advance for your recommendations and advice.
 
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Beemerguy53 said:
I've used the same accountant for about 15 years to prepare my taxes, but for several reasons, I won't be using him this year, so I'm looking at alternatives.

My sons really like TurboTax, and are urging me to try it.

A good friend uses another accountant who he says does a good job for him.

And then there are the storefront services, such as H & R Block, that claim to be so good.

What's your opinion on this, folks? Who does your taxes?

Thanks in advance for your recommendations and advice.
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I had BAD LUCK with storefront people, have not used them in 20+ years.

I use a local CPA. I have a bunch of REITs in my portfolio and by law they do not have to send out tax info till the end of Feb. So my taxes get done late in March. He breaks me pretty much even at the end of the year. Owe a few bucks or get back a few. He adjusts my quarterly est tax and is very good at it!

Dave
 
it would depend on how complicated your returns are. if simple, use the turbo tax thing. if complicated, I would use the best CPA available in your area.
 
I use Turbo Tax. It very simple and straight forward even if your taxes a are wee bit complicated.
 
I used to pay 300~$500 a year to a CPA to tell me I owed money. Now I spend $50 on turbo tax. I see no other differences. Deluxe is good for me, I sell/buy a lot of stocks/bonds each year. Other than that I have a pretty normal return. Actually I saw Deluxe at Costco for about $40, thats a good deal.
 
Beemerguy53 said:
My return is a little more complicated than most...do you know what they charge !
Take a look at Turbotax online, they give a chart of what each level covers. And it you start too low, you can always upgrade to the next level.
Turbotax has a 20 questions routine, or you can just skip that and do it like Frank, I did it my way. After all I was trained to only give name, rank and serial number.
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perrazi said:
it would depend on how complicated your returns are. if simple, use the turbo tax thing. if complicated, I would use the best CPA available in your area.
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I have two sources of income, my pension from my FD career, and the salary from my current job. I also have an IRA that is just sitting; I don't draw from it. I itemize deductions, including mortgage interest, charitable contributions, and some work expenses. That's about it...does it sound to you like Turbo Tax would be the way to go?
 
Sounds pretty normal, Deluxe would work good.

Beemerguy53 said:
I have two sources of income, my pension from my FD career, and the salary from my current job. I also have an IRA that is just sitting; I don't draw from it. I itemize deductions, including mortgage interest, charitable contributions, and some work expenses. That's about it...does it sound to you like Turbo Tax would be the way to go?
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Turbo Tax would work in you situation (very similar to my situation). I use and recommend TaxAct and have for 8-9 years. No need to pay a CPA and I would NEVER go to one of the storefront tax people. I have pension, SS, itemized deductions and capital gains. Everything filed online and saved on computer with hardcopy print out.
 
Beemerguy53 said:
I've used the same accountant for about 15 years to prepare my taxes, but for several reasons, I won't be using him this year, so I'm looking at alternatives.

My sons really like TurboTax, and are urging me to try it.

A good friend uses another accountant who he says does a good job for him.

And then there are the storefront services, such as H & R Block, that claim to be so good.

What's your opinion on this, folks? Who does your taxes?

Thanks in advance for your recommendations and advice.
Click to expand...

I'm an old accountant and do my own. The computer based tax programs are good if you take the time to answer all the questions they will ask, some may or may not be pertinent to you.

The thing that you get from a face to face meeting with a CPA firm is if you do not understand the questions you can ask for a better explanation of the question.

Without knowing what complexities your return entails it is hard to make a recommendation.

If you've been using a storefront tax prep firm, then TuboTax will be a great substitute. If you have issues with capital gains/losses, partnerships, individual proprietorships, retirement plans, trusts.... find a competent local CPA firm that deals in the tax questions of such things.
 
I have used the same CPA for the past 26 years, and have never had a complaint. His fee has risen from $200 to $225 in that time for doing my taxes.

He does a joint return for my wife and me, and we have several sources of income and a lot of deductions. I have been audited by the IRS 4 times, and, each time, the auditor has determined that there was no additional tax due.

I was introduced on to this guy by a friend who is quite wealthy and I thank him for doing that at least once a year.e also did the taxes for two businesses my wealthy friend and I owned at one time and he did a great job.I referred another friend, who is quite wealthy to this CPA and he thanks me once a year.

I wish I was quite wealthy, but, sadly, that is not the case.

Before this CPA, when I was a young police officer, I had a CPA who lived next door who did my taxes for nothing or almost nothing.

I have had several friends/acquaintances who have used the walk-in, storefront services and several of them have had problems.

Bob
 
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A semi complicated return, buying and selling stocks, and some capital gains, here in NJ runs about 400 bucks at H&R. They do it all and for a small fee will represent you as well if the comment comes a knockin.
 
I used Turbo Tax on-line the past three years. Returns have been much better than when CPA was doing them and only cost $66 total for state and fed.
Highly recommend.
 
I'd also recommend Turbo Tax. They use a question/answer format that makes it pretty painless. The key is being organized before you begin and having your paperwork ready to enter as the program asks for it.
 
I avoid...

I avoid store front places like the plague. In fact I call them "Hide and Run". We've used an individual in town with a very good reputation and have been very happy up until now.
 
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