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Tax filing time is coming up and I need to decide between using an accountant/CPA, tax filing services (I see a few of these private tax filing services around), or just buy Turbo Tax?
I just brought a home a year ago, my wife and I work full time, and I am in the process of starting a business. Thus, I dont think I have any complicated tax issues.
I go to a registered CPA, and have used the same guy fot 25 years or more. I pay $150.00, and know it's done correctly. On the rare occassion I have had problems, I hand the paperwork to my accountant and he handles the problems.
I figure one item my accountant picks up that TT or I might have missed, will more than pay his charge. He goes to tax school every year to stay current. He is worth the price.
Having used the same guy every year, all of my information is in his computer. he just plugs in the latest facts and I'm finished in no time, worry free..!
Why TurboTax and not TaxCut? We've used TaxCut for five years now and are very happy with it.
Ironically, when both my SO and I did use an accountant, we'd end up getting those lovely little letters from the IRS a couple of years later, advising that there were errror(s) on the returns. And that was not even with the same accounting firm either.
I got sick of paying extra just for some accountant to make mistakes. Haven't had an IRS letter since I started doing the taxes myself with TaxCut. (knock wood)
As a CPA, in your situation, I'd go to IRS.gov or another free filing website that offers direct deposit of your refund. Your situation is not complicated, and from the sound of what you wrote, you don't have your business up and running as of 12/31/2008.
While you can deduct up to all of your tax prep fees, They most likely won't significantly increase your refund (or decrease liability.) I don't think it's worth it to use any of those means to do your form.
I worked for a tax prep place in college, and they are a rip-off. All of them.
Tax preparation is not that difficult, and there are many people who think IRS and wet their draws, so they go to someone who is wise enough to make a hustle off of that. It should not be the case
I have a small business and I use TurboTax every year for our home/business taxes. I went to Jackson-Hewitt two years and H&R Block one year and they charged WAY too much. Never again. I tried TaxCut instead of TurboTax but to me, TurboTax is more intuitive and user friendly and the process seems to be a lot smoother.
For a person who is really bad at this tax stuff - I use Turbo Tax. You can even do it online without buying the program from the store and downloading. It was so simple and the price is much better than a CPA.
I just brought a home a year ago, my wife and I work full time, and I am in the process of starting a business. Thus, I dont think I have any complicated tax issues.
I think you DO have complicated tax issues, especially with having your own business.
I've used TurboTax for the last 8 years w/o problem. Used HR Block a few years, and two of them they missed something. If you have business concerns I might look at a CPA.
I've done turbotax online for years and it is easy peasy. I'm a 1099 contractor and my schedule C is simple with expenses like mileage and travel. I also don't have a house or massive investments yet, so for now it works for me. I use Quickbooks too and set my books up as a duplicate of the Schedule C so it's easy to transfer over all the info.
If turbotax didn't exist, I'd go to an accountant even though I am bright enough to do it myself. Filling out forms is one of the things I truly do hate.
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