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as you see most here suggest TT and follow with "my taxes are not complicated". I suggest TT and I have somewhat complicated taxes. I have always used TT for last 15 years. But then I thought let me try to find somebody.. I am spending too much time.
Well it was an exercise in futility. I had to explain what RSU and ESPP were, how MLPs are handled to accountant after accountant. They all said - come I know what I am doing, but I am not paying them to educate them.
At least two people from my work got audited after using "a guy who always did their taxes" and I had to consult them how to do RSUs properly.
At this point the person would have to come extremely highly recommended and even then I would probably still triple check myself...
Remember when you get audited - the "guy" doesnt care much, its no sweat of his back. So this year I am back with TurboTax.
as you see most here suggest TT and follow with "my taxes are not complicated". I suggest TT and I have somewhat complicated taxes. I have always used TT for last 15 years. But then I thought let me try to find somebody.. I am spending too much time.
Well it was an exercise in futility. I had to explain what RSU and ESPP were, how MLPs are handled to accountant after accountant. They all said - come I know what I am doing, but I am not paying them to educate them.
At least two people from my work got audited after using "a guy who always did their taxes" and I had to consult them how to do RSUs properly.
At this point the person would have to come extremely highly recommended and even then I would probably still triple check myself...
Remember when you get audited - the "guy" doesnt care much, its no sweat of his back. So this year I am back with TurboTax.
Yup!
I have a friend who is extremely phobic about any internet activity more technical than viewing e-mail, and even though I have been suggesting the use of Turbo Tax for many years, he continues to go to an accountant located in Hoboken, and paying that guy a few hundred $$ each year for his...expertise.
Last year, this "accountant" totally screwed-up my friend's tax returns, and my friend wound up owing a couple thousand $$ more than originally calculated by that...accountant.
By contrast, I have been doing my own taxes with Turbo Tax for a couple of decades, have never had my returns questioned by The IRS, always get at least a small refund, and have never been billed for extra taxes.
TT deluxe here ... Did them today as a matter of fact (still missing 2 pieces but all done except for that). I'm not sure where my NJ disability numbers are plugged in but I'm sure TT will walk me through it. I also did one of my son's today. EZ so that was completely free.
TT deluxe here ... Did them today as a matter of fact (still missing 2 pieces but all done except for that). I'm not sure where my NJ disability numbers are plugged in but I'm sure TT will walk me through it. I also did one of my son's today. EZ so that was completely free.
I just got my W2 so I'll do it on the weekend...gotta buy TWO states this year, grrrr.
I just want to remind everyone to first verify that you have received all of your 1099s and other supporting documents before you file your taxes.
Many years ago (in the days before Turbo Tax), I rushed to file my tax return, and the day after mailing it, I received documentation from Educational Testing Service, reflecting a relatively small honorarium that I had received from them. I gambled that this relatively small amount of omitted income wouldn't cause my tax return to be questioned, and I lucked-out in that regard--but I could just as well have been wrong.
Just this morning, I decided to take a look at the pile of 1009-Div forms that I have, and while I have received the majority of them, I am still missing 5 of them, so--as much as I would like to move the process along--I will have to wait a bit longer, until I do receive them. IIRC, brokerage houses and others now have until February 15th to mail certain tax documents to their clients.
Nowadays, it isn't that difficult to submit a revised return, but you can avoid that detail if you first make sure that you have received every bit of documentation that you will need, and that may entail going through your files in order to match-up 1099s with investments that you hold.
I just want to remind everyone to first verify that you have received all of your 1099s and other supporting documents before you file your taxes.
Many years ago (in the days before Turbo Tax), I rushed to file my tax return, and the day after mailing it, I received documentation from Educational Testing Service, reflecting a relatively small honorarium that I had received from them. I gambled that this relatively small amount of omitted income wouldn't cause my tax return to be questioned, and I lucked-out in that regard--but I could just as well have been wrong.
Just this morning, I decided to take a look at the pile of 1009-Div forms that I have, and while I have received the majority of them, I am still missing 5 of them, so--as much as I would like to move the process along--I will have to wait a bit longer, until I do receive them. IIRC, brokerage houses and others now have until February 15th to mail certain tax documents to their clients.
Nowadays, it isn't that difficult to submit a revised return, but you can avoid that detail if you first make sure that you have received every bit of documentation that you will need, and that may entail going through your files in order to match-up 1099s with investments that you hold.
Two years ago, doing my taxes with Turbo Tax and I made a slight omission, ooops. I totally forgot to include my SS income because it is not taxed (wrong). I was surprised that I got a sizable return of taxes paid.
I completely forgot about that and last year did my taxes but did not forget my SS income.
This past summer I get a friendly letter from the IRS informing me that I owe back taxes plus interest from two years ago. They must have made a mistake so I went back and looked at that return and what do you know. Ooops how did I forget that?
There went the vacation fund.
After doing business with CPA's in the area I not longer feel safe to do my taxes with a CPA's without a good referral. The fist were out of Parssippany NJ, I even hate that township as the result of that.
Another vote for Turbo Tax, unless you have a complex tax situation. It is a bit of a chore to set up your info the first time but after that it will take you about as long to do your taxes as it would to drive to your accountants office. Seriously, it takes less than an hour and I itemize.
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