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Old 01-13-2011, 11:51 AM
 
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Hello! My husband and I just bought our first house this year and would like to hire a CPA to do our taxes. Any recommendations?
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Old 01-13-2011, 12:12 PM
 
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You do not need a CPA to do your taxes because you bought a house. There is nothing too complicated about house purchases that any competent tax preparer could not handle. H&R Block could handle it with no problem. I would even dare say that any software tax program like TurboTax would handle your situation just fine. This is assuming you have no other more complicated tax matters.
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Old 01-14-2011, 01:05 AM
 
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The OP has stated that they would PREFER to hire a CPA, and they would be wise to do so. A tax preparer is a trusted advisor; someone with whom you will have a life-long relationship. The CPA is not just about expertise, but about accountability as well. They have a license to protect and oversight procedures with which to comply. Availability is also a concern, as is with a doctor, lawyer or any other professional. Try calling the H & R Block person who did your taxes some time in August when you have a question or need some advice. Finally, buying a house is indeed a complicated scenerio in many cases. Have you seen a closing statement lately? Think about all the money people waste on things they don't need. Putting some of that money towards a once a year accountant's fee is well worth the expense, and the peace of mind pays dividends all year long.
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Old 01-14-2011, 05:51 AM
 
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The OP did not state they would prefer..they said they would like to hire...that to me indicates they are looking to engage the services of a CPA.

I have no argument with your comments. However, the OP did not ask for CPA recommendations to do anything more than to do their taxes. From her comments, I would assume that they are concerned about the level of complexity involved in doing taxes for the year of the home purchase. If they are looking to establish a relationship with a tax adviser on a long term basis because their tax situation is either complex or will become so, then your statements have merit.

BTW..I am a CPA and have done more than my share of taxes over my lifetime. The average taxpayer can have their taxes done at a more modest cost through the H&R Blocks of this world. Most taxpayers do not have complex enough returns to warrant a CPA. Yes, closing statements can be confusing to the layman but not to any properly trained tax preparer.
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Old 01-14-2011, 12:54 PM
 
64 posts, read 237,117 times
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I can appreciate your good intentions in trying to save people some money on their tax preparation, and I won't get into a debate about CPA's versus H & R Block. But as a CPA in practice for over twenty years I can tell you that I have had many clients come to me after using H & R Block or similar tax preparers, and in about half the cases the fees charged by them were more than I would have charged for the same returns. It's not always more expensive for a CPA especially now when the whole industry has become so competitive. Many firms are merging to lower their overhead, and many sole practitioners can be found working out of their homes. That's why you need a recommendation. Did you know that the IRS, this year, has implemented a registration procedure for non CPA tax preparers because of compliance issues with them in the past? CPA's are exempt.

It is true that some, not most, taxpayers do not have a complex enough return to warrant a CPA immediately, and not every dentist visit requires root canal, but it's good to know that your guy could do it if he had to.
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Old 01-14-2011, 01:55 PM
 
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I am aware of the IRS regulations this year and also quite aware that H&R Block is not cheap...especially when you get beyond the basic return. I also know that many CPAs, especially those that work in smaller firms, are under constant competitive pressure as to pricing of their services for tax prep.

I think you will agree with me that, unless a CPA is willing to cut their fees dramatically, that they can no longer compete on the non-complex returns. H&R BLock and TurboTax has eaten into that client base. The OP seems concerned that because they bought a house this year that their return will need the expertise of a CPA. I think the preparers at the H&R level can complete a simple return with a house purchase without worrying about them making errors.

Would I bring a complex return to H&R? Not on your life. They do make mistakes but, as you are aware, there are many CPAs would also make mistakes on tax returns. I have had to clean up their messes in the past...as you may have done also.

If the OP expects that their financial situation will develop eventually into more complex tax returns then, by all means, they should begin a relationship with a CPA. However, and you may agree with me on this, or perhaps not, most people do not ask for a CPAs tax advice during the year but bemoan the fact that they did something to increase their tax liability only after you completed their return.
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Old 01-14-2011, 02:57 PM
 
1,386 posts, read 5,331,036 times
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as a CPA I'll offer my advice,
get someone from a recommendation. I'd completely skip H&R Block. you don't "need" to be a CPA to do an adequate job on a tax return. I would say, go with someone who has a decent amount of clients, more than 10-15.

I know a lot of people who do taxes on the side of their normal job. Some are good, stay on top of current information, use real tax prep software and know the code. Others I see get multiple copies of turbotax and use that as their software and way of doing taxes, answering turbotax questions. To me, thats not knowing what you're doing.

from what I've seen, HR Block is more expensive than some local preparers, and gets scarily expensive when you have a few stupid add on forms.

I only do taxes for family and 1 friend, my firm prohibits side work.

I would say, depending on your paperwork comfort zone, turbotax can walk most people through what you need to do.
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Old 02-20-2011, 11:18 AM
 
65 posts, read 161,239 times
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I would HIGHLY recommend Scott Lorber. I am sure you would be extremely happy. I would trust no one else doing my taxes. His email is slorbercpa@gmail.com.
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