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  • Rando
    replied
    Used Turbo Tax for personal taxes for years but every 2-3 years they would come up with some penny-ante idea to increase the cost, so finally changed to H&R Block software which I have been very happy with.  I do have an accountant that does my corporate taxes.

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  • foreignbornmd
    replied
    I have filed my taxes for 9 years with a combination of turbotax and taxact. Finally went the accountant route 2 years ago (the year we bought a new rental unit, spouse changed from W2 to 1099, new investments, new 1099 for myself in addition to regular W2.), still double check everything but the accountant has helped with certain deductions I would never have thought of.

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  • FIREshrink
    replied
    taxact.

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  • DMFA
    replied
    I get HR Block TaxCut Premium (browser-based) for free via Military OneSource.  Two W-2s, a small 1099 with some expenses, mortgage, backdoor Roth, many itemized deductions, some credits.  Very easy and intuitive.  Have used it 7 years now.  Haven't used TT or Tax Act but I imagine HRB is unlikely to be inferior.

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  • dimensionlessindex
    replied
    TurboTax for many years, until I became a partner in my group. I wanted the help of a CPA to navigate form K1 and estimated quarterly payments, especially because part of the year was in employment. I will use the same CPA this year; did a nice job for a low hourly fee.

    However, one of my goals for 2018 is to read more about the tax code, and I plan to start preparing my own returns a couple years down the road. It will be nice to have the CPA's work to refer to, and for now I also like having someone I can ask a quick tax question and have a response the same day.

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  • ReFinDoc
    replied
    I have used a CPA/EA for the past 20 years. My returns are somewhat complex, with a mix of W2 and 1099 income. I have a Limited Partnership and couple LLCs. I take full advantage of all tax breaks such as HSA, solo 401ks, 529s. My accountant has kept me out of trouble several times. I believe his signature at the bottom of my return is helpful. I can bounce crazy ideas off him when I try to save taxes and set up new businesses.

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  • Steve
    replied
    W2 employee, backdoor Roths, and a few 1099s.  Used to use TurboTax, although used a CPA the last 3 years.  That person isn't available to me for this year.  I'm thinking of going back to TurboTax as I agree with Zaphod that the hardest part is getting all the information together.  Putting it in TurboTax takes less time than copying the whole thing and meeting with the CPA.

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  • Dansignal
    replied
    I am an accountant. I shifted careers to medicine. I am now retired. I was in practice in a solo practice PA. My best advice:

    If you are a W2 employee use whatever software you are comfortable with. It's as easy as pie.  Add in some fancy investing maneuvers - you can still do your own taxes for the most part.

    Own your own practice - use a CPA. Get it right the first time. A CPA who specializes in medical practice can additionally help with basically free business consulting. My CPA made sure that I was in compliance with all employment laws, withholding, accounting cycle issues.  I used him for corporate and personal taxes.

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  • Peds
    replied
    turbotax all the way.

    its W2, no house, no kids.

    investment stuff is not complicated, including backdoor rIRA.

    there is nothing savvy a person has to offer me.....yet

    Leave a comment:


  • WallStreetPhysician
    replied
    I used TurboTax for many years, but have recently switched to H&R Block.  It is significantly cheaper and gets the job done.  H&R Block also gives the option of a 10% bonus if you accept a portion of your tax refund as an Amazon Gift Card.

    Leave a comment:


  • VagabondMD
    replied
    I used Turbo Tax in the past, but I started buying state tax credits (I never see anyone post about these, BTW), and TurboTax cannot accommodate these. I find that I spend nearly as much time preparing stuff for the accountant as I did when I did the taxes myself, and I do not feel that adding the accountant has saved me money in deductions and such. In fact, I catch as many issues/problems as he does, if not more. It does give me some peace of mind that an adult is checking over things, and, once every year or two, I have someone to ask a question.

    When things get simple, I plan to go back to doing taxes myself.

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  • TheHappyPhilosopher
    replied
    I use Turbo Tax. My taxes are fairly simple, mostly W2 income. I did take it to an account one year to check my math and see if I missed anything. He made no changes so I decided to keep doing them. I feel that by doing my own taxes I learn the tax code a bit and am more aware of my finances, so although it is not a great use of my time from a purely mathematical perspective I feel it is educational.

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  • EJ at Dads Dollars and Debts
    replied
    Interesting regarding accountants provided through work. I do wonder if they provide the best quality versus finding one on your own. Still it seems most of us do our own taxes and that they are as simple as W2s to more complex including real estate holdings. Glad to see I am in good company and that I should not feel strange to continue using TurboTax.

    -EJ

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  • GXA
    replied
    I have been using turbo tax for many years and have been satisfied.  I would certainly head to a CPA if my situation were complex enough.

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  • CM
    replied
    I used a CPA in the past. He is a bright, personable guy and I'm sure he knows his field. However, his firm gets slammed at tax time and I found mistakes in three different years. Also, the bill rose substantially every year.

    So I switched to TurboTax. It isn't that difficult and I learn things about the tax code that help me plan my affairs--for at least $1,500-$2,000 less.

    Leave a comment:

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