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Old 02-01-2019, 07:10 AM
 
Location: Austin, Texas
2,013 posts, read 1,429,204 times
Reputation: 4062

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Quote:
Originally Posted by Tencent View Post
Agreed your situation is simple.

But a lot people on here have 2 kids a mortgage and capital gains and lots of itemized deductions
That's still a walk in the park with tax software. Not worth paying someone if you're the least bit financially savvy.
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Old 02-01-2019, 07:22 AM
 
21,929 posts, read 9,498,367 times
Reputation: 19454
Quote:
Originally Posted by unihills View Post
That's still a walk in the park with tax software. Not worth paying someone if you're the least bit financially savvy.
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Old 02-01-2019, 07:24 AM
 
7,759 posts, read 3,884,678 times
Reputation: 8851
Quote:
Originally Posted by unihills View Post
That's still a walk in the park with tax software. Not worth paying someone if you're the least bit financially savvy.
Financial savvy does not mean you are an expert in Tax Code....

That is like saying if you know a bit of HTML you can make your own website.

If that was the case, squarespace and WIX would be bankrupt.

American DIY culture has gone too far. A lot of people are hurting themselves and it's literally costing them thousands of dollars...Somebody above just said that SALT is so bad it basically negates the value of ownership! And there are folks who don't think it's a big deal...

My mother always told me people are stubborn hard headed and always want to go the hard way...

Part of a CPAs duty is to help you weather future storms in policy changes. There hasn't been a drastic tax change like this in a long time... Did it not occur to any homeowners here to at least go to HR Block to ask the question? (They are like the Walmart of Accountants but at least can provide some kind of general guidance)

Would you go up against the DA who is trying to falsely convict you of attempted murder without proper representation?
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Old 02-01-2019, 07:26 AM
 
3,050 posts, read 4,993,405 times
Reputation: 3780
Quote:
Originally Posted by Tencent View Post
Financial savvy does not mean you are an expert in Tax Code....

That is like saying if you know a bit of HTML you can make your own website.

If that was the case, squarespace and WIX would be bankrupt.

American DIY culture has gone too far. A lot of people are hurting themselves and it's literally costing them thousands of dollars...Somebody above just said that SALT is so bad it basically negates the value of ownership! And there are folks who don't think it's a big deal...

My mother always told me people are stubborn hard headed and always want to go the hard way...

Part of a CPAs duty is to help you weather future storms in policy changes. There hasn't been a drastic tax change like this in a long time... Did it not occur to any homeowners here to at least go to HR Block to ask the question? (They are like the Walmart of Accountants but at least can provide some kind of general guidance)

Would you go up against the DA who is trying to falsely convict you of attempted murder without proper representation?
You sound like you are trying to convince yourself.

I don't need to know how an internal combustion engine works to do an oil change, or rotate the tires.

Tax returns for the average person is usually pretty simple.
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Old 02-01-2019, 07:40 AM
 
9,857 posts, read 7,729,352 times
Reputation: 24527
Quote:
Originally Posted by Tencent View Post
Financial savvy does not mean you are an expert in Tax Code....

That is like saying if you know a bit of HTML you can make your own website.

If that was the case, squarespace and WIX would be bankrupt.

American DIY culture has gone too far. A lot of people are hurting themselves and it's literally costing them thousands of dollars..?
Do you hire someone to do the accounting for your side business too? Payroll? Filing your other business taxes? I understand all that and I choose not to pay someone else thousands of dollars to fill in the blanks online. I even went through a full audit without paying a professional.

But, I'll hire someone to fix my car - I don't want to know how to do that.
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Old 02-01-2019, 09:03 AM
 
9,434 posts, read 4,252,535 times
Reputation: 7018
I draw the line at depreciation and carry over loses. Once it goes in to that territory its too difficult for me.
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Old 02-01-2019, 09:49 AM
 
Location: California side of the Sierras
11,162 posts, read 7,636,263 times
Reputation: 12523
Quote:
Originally Posted by Tencent View Post
Agreed your situation is simple.

But a lot people on here have 2 kids a mortgage and capital gains and lots of itemized deductions
That's all simple. If you think those things are complex, no wonder you are such a proponent of hiring a preparer.
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Old 02-01-2019, 09:50 AM
 
Location: California side of the Sierras
11,162 posts, read 7,636,263 times
Reputation: 12523
Quote:
Originally Posted by Tencent View Post
Financial savvy does not mean you are an expert in Tax Code....

That is like saying if you know a bit of HTML you can make your own website.

If that was the case, squarespace and WIX would be bankrupt.

American DIY culture has gone too far. A lot of people are hurting themselves and it's literally costing them thousands of dollars...Somebody above just said that SALT is so bad it basically negates the value of ownership! And there are folks who don't think it's a big deal...

My mother always told me people are stubborn hard headed and always want to go the hard way...

Part of a CPAs duty is to help you weather future storms in policy changes. There hasn't been a drastic tax change like this in a long time... Did it not occur to any homeowners here to at least go to HR Block to ask the question? (They are like the Walmart of Accountants but at least can provide some kind of general guidance)

Would you go up against the DA who is trying to falsely convict you of attempted murder without proper representation?
To ask what question?
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Old 02-01-2019, 09:57 AM
 
76 posts, read 48,259 times
Reputation: 115
I just got back from my CPA, I will be getting $1,116 back from federal and $73 back from state, although my refund is much less than last year, I will not complain, I thought I was going to owe due to the new tax law
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Old 02-01-2019, 11:36 AM
 
Location: Suburbia
8,826 posts, read 15,318,969 times
Reputation: 4533
Quote:
Originally Posted by MoneyMoney12345 View Post
I just got back from my CPA, I will be getting $1,116 back from federal and $73 back from state, although my refund is much less than last year, I will not complain, I thought I was going to owe due to the new tax law
Thanks for reporting back. Sorry if you mentioned already, but what are some basics? Married or single? Children under 17? HHI?
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