Filing Taxes Second Opinion - Neuse/Capital (low income, 2013)

[ThySeeker]

I have been using Turbo Tax for 20 years or so.
Due to my situation, I figured this year, instead of paying 40-80 using TT to be giving more of my money to the IRS, wanted to see about going to a human person face to face for a second opinion and maybe a way to fix my situation. Someone/someplace that does free overviews or charges less than TT. If I am going to pay the same amount, then I might do it there and then, but I not be paying more UNLESS they are actually able to help me better than what I am seeing now in TT.
So I am looking for options and recommendations on a tax person or place, and my limitations is around Falls of Neuse, Capital Boulevard, areas.
Thank you.

[m378]

What is the situation you're referring to? Unless you have some sort of super complex return, I don't see what an accountant is going to find that Turbo Tax doesn't.

[Jkgourmet]

Sorry - but why should a professional give you his/her time and expertise for nothing?

[ThySeeker]

Originally Posted by m378

What is the situation you're referring to? Unless you have some sort of super complex return, I don't see what an accountant is going to find that Turbo Tax doesn't.

Since my 2011 layoff, I have done nothing but give them my money more and more ("owing" as they say). Still giving them 50/month since 2013 and again this year they want more money (always both state and federal). So figured if a human can look over the stuff and do something better. For example, if TT going to charge me 80 to give the government another 2000 total to add on top of what I am still giving them, and a human can do better and make me not give them as much, or even I get something back, then that be worth our time and my money.

Is a thought.

[Jkgourmet]

I'm an ex professional accountant. I've done my own taxes on TT, TaxAct and, yes, even in pencil with a calculator.

For the past few years I've paid CPA to do my taxes. Happily. Why? Because he puts a second eye to my stuff (and has found discrepancies in certain things that I hadn't spotted that needed an explanation - like investment fees.) Because I know the damn thing is correct. Because he charges a reasonable price. Because I value my time. Because if I croak, my paperwork adverse husband will be set. Because he suggests ways to reassess the source of my income to minimize taxes, or possibilities for reevaluating / rescheduling deductible items. Because he has prepared a proforma to see what my situation will be under the new tax laws. Because I can call or email him during the year for advice at no charge.

In most situations, an expert tax preparer (CPA or EA) won't 'save you money' by preparing your taxes. If they tell you they will, they are either lying or intending to commit fraud on YOUR tax return. The numbers are the numbers, and our tax rates are set up in granite.

I'm guessing you don't have enough deductions to even file a Schedule C. If I'm correct, stay with TurboTax. I'm also guessing you skipped paying taxes for awhile and are now having to pay it plus interest and penalties. Unless you owe back taxes of about $20k, there won't be any flexibility on repayment by IRS.

I'm sorry to be blunt, but your goals and expectations are out of whack.

[ThySeeker]

Originally Posted by Jkgourmet

I'm an ex professional accountant. I've done my own taxes on TT, TaxAct and, yes, even in pencil with a calculator.

For the past few years I've paid CPA to do my taxes. Happily. Why? Because he puts a second eye to my stuff (and has found discrepancies in certain things that I hadn't spotted that needed an explanation - like investment fees.) Because I know the damn thing is correct. Because he charges a reasonable price. Because I value my time. Because if I croak, my paperwork adverse husband will be set. Because he suggests ways to reassess the source of my income to minimize taxes, or possibilities for reevaluating / rescheduling deductible items. Because he has prepared a proforma to see what my situation will be under the new tax laws. Because I can call or email him during the year for advice at no charge.

In most situations, an expert tax preparer (CPA or EA) won't 'save you money' by preparing your taxes. If they tell you they will, they are either lying or intending to commit fraud on YOUR tax return. The numbers are the numbers, and our tax rates are set up in granite.

I'm guessing you don't have enough deductions to even file a Schedule C. If I'm correct, stay with TurboTax. I'm also guessing you skipped paying taxes for awhile and are now having to pay it plus interest and penalties. Unless you owe back taxes of about $20k, there won't be any flexibility on repayment by IRS.

I'm sorry to be blunt, but your goals and expectations are out of whack.

Thanks for the info.
No, I never skipped giving them my money. I not gotten any decent pay since my 2011 layoff until Aug 2017. No work until 2013 and many teenage wage jobs. School loans, 800 credit was destroyed, yadda yadda, I had to access my 401k many times for rent and to get a car (no worries, sub $3-5k used is the only way I go) back then when the minivan was taken away, out of pocket medical..... you know the the stories. Hard years. Only started to play catch up now. Just during those years, even working multiple jobs, they wanted more every year and I been giving them $50 a month since 2013, and was hoping I did not have to again add more to the current pile but looks like I am. This is why I asked about a CPA as you said they are.
Guess I will stick with TT then and pray next year be better and maybe I can stop giving them money and they can give me some back. I never has to give them more of my money in 25 years of working until that layoff.
Thank you for your suggestion.

[m378]

As jkgourmet said, you owe what you owe. You'll only get some back if you paid them too much throughout the year. You only owe if you didn't pay enough. I think you may be confused about how taxes work.

[wheelsup]

Originally Posted by m378

I think you may be confused about how taxes work.

You just described 90% of the population.

"I can't get a raise, if I do I'll take a pay cut because my tax rate goes up!".

"Uhhh, no you won't"

[SFspiderman]

Originally Posted by wheelsup

You just described 90% of the population.

"I can't get a raise, if I do I'll take a pay cut because my tax rate goes up!".

"Uhhh, no you won't"

Depends on the circumstances. I've had to plan carefully (contribute to traditional IRA instead of Roth and maximize other potential deductions) in order to keep my raises from putting me over the ACA limit and costing me thousands in health insurance subsidies.

[wheelsup]

Originally Posted by SFspiderman

Depends on the circumstances. I've had to plan carefully (contribute to traditional IRA instead of Roth and maximize other potential deductions) in order to keep my raises from putting me over the ACA limit and costing me thousands in health insurance subsidies.

Yes I realize that plus the now gone AMT but for general worker bees the water cooler talk is nonsense.

With ACA subsidies someone would be in a pretty low income bracket. It's unfortunate our government encourages people to not work or earn less just to get more entitlements.