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Old 08-02-2008, 10:31 PM
 
Location: Highland Creek, NC
747 posts, read 2,104,619 times
Reputation: 388

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We just bought our 1st house a few months ago, so I assume I will need some tax advice and planning. I invest with Edward Jones, but they dont really have tax planners. Any suggestions?? I live in Highland Creek.
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Old 08-03-2008, 12:07 PM
 
Location: Mostly in my head
19,855 posts, read 65,802,767 times
Reputation: 19378
Check the yellow pages under "CPA" and look for one near you. You can also find something like "taxes" or tax preparation in some yellow pages. I prefer a CPA as they have more training. I found mine, not anywhere close to me, by asking friends. He does the taxes of a friend's mother (she owns about 100 rental properties) so I figured he knew what he was doing.
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Old 08-03-2008, 04:36 PM
 
549 posts, read 1,740,578 times
Reputation: 232
Quote:
Originally Posted by mikealialex View Post
We just bought our 1st house a few months ago, so I assume I will need some tax advice and planning. I invest with Edward Jones, but they dont really have tax planners. Any suggestions?? I live in Highland Creek.
Why do you think that you need a tax planner just because you bought a house?
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Old 08-03-2008, 07:10 PM
 
Location: Highland Creek, NC
747 posts, read 2,104,619 times
Reputation: 388
Quote:
Originally Posted by Palmetto Heel View Post
Why do you think that you need a tax planner just because you bought a house?
Arent their tax benefits to purchasing a house? I have never had enough to claim deductions before, it is my understanding that the interest I am paying on the mortgage is deductible???
I also have never paid a State tax before, and I would like to plan to have enough deducted weekly to avoid writing a check in April.
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Old 08-03-2008, 08:33 PM
 
549 posts, read 1,740,578 times
Reputation: 232
You don't need a tax planner. If you can add, subtract, and follow simple instructions on the 1040 then you can handle the mortgage interest dedcution.
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Old 08-03-2008, 08:52 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,718,482 times
Reputation: 3722
Quote:
Originally Posted by Palmetto Heel View Post
You don't need a tax planner. If you can add, subtract, and follow simple instructions on the 1040 then you can handle the mortgage interest dedcution.
For some its not as easy as you describe...LOL

For me, I've been using Turbo Tax for years...best move I ever made. I'd recommend it in a heartbeat. It makes tax preparation a piece of cake (including all your deductions).

To the OP if you absolutely don't want to pay, then I would start by claiming "0" allowances on my w-4. Start from there first...see how much they take out. I would X that number by 12 (monthly), 24 (bi-monthly) or 26 (bi-weekly) depending on your company's pay system, so you have an idea how much NC state tax would be taken out for a yr.

I usually plug the # into the previous year's tax form and come up w/a # from there....usually I'm ok if my withholding is somehwere between 0 & 5....good luck
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Old 08-03-2008, 08:58 PM
 
Location: Mostly in my head
19,855 posts, read 65,802,767 times
Reputation: 19378
I used to use TurboTax and liked it a lot. I went to a live person when my finances got more complicated. TurboTax is really easy to use and they file electronically for you. It also does state taxes. It asks you questions to decide what forms to use. It used to be that if you made less than $20K, it was free. The online version is easy, never bought the version to install at home.
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Old 08-10-2008, 07:53 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 16,583,894 times
Reputation: 1009
I found this link today for another person asking the same question in the mortgage section.

(no it's not my link)

Home Mortgage Interest Deduction - Claiming Mortgage Interest as a Tax Deduction
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Old 08-10-2008, 10:41 PM
 
2,141 posts, read 7,864,315 times
Reputation: 1273
Owning a home does not complicate your taxes that much at all. Save your money and buy Turbo Tax. You can purchase it online and the cost is a tax write off. I've been using it for 15 years and in that time have bought and sold 4 properties. It's very user friendly.
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Old 08-11-2008, 11:06 AM
 
Location: Charlotte, NC
3,365 posts, read 10,019,579 times
Reputation: 1948
I use Turbo Tax, works great usually finds more deductions than I was even aware off.
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