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Do I need an accountant, or is Turbotax/HR Block ok?

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  • Do I need an accountant, or is Turbotax/HR Block ok?

    I am 35 years old, 1.5 years out of training as a hospital employed anesthesiologist. Made about 425k for 2017,will be more in 2018.  Filing single. I max my 401k, HSA, backdoor roth. Don't really see any other deductions.  Is it worth it for me to hire an accountant to do my taxes, or to just do TurboTax (like I did last year, when I only had 5 month of attending income)?

    And since I know everyone wants to know, I have saved up a big E-fund (helps me sleep comfortable), refinanced my student loans (started with 330k, now at 215 and will be paid off in less than 2 years), and have adequate disability insurance. No financial advisior necessary. I have been following WCI for a couple years now

     

    Thanks!

  • #2
    Probably can use a tax program given your straight forward return. Mine charges me $100, so I'll just use my CPA for the convenience.

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    • #3
      Do it yourself.  Then buy a $15 H&R Block package to verify accuracy.  You'll learn a lot.

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      • #4
        Any software program. I had to TLH, backdoor rIRA, itemize, and pay AMT. Not difficult.

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        • #5
          Exactly. Tt will get you through everything. Go step-by-step mode. Then hire a review package and see if gaps.

          Been using it for decades. Went through the dreaded national research audit last year without issue and we yo tt business for llcs and own 1040s with schedule c and e on them.

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          • #6
            Thanks, very much appreciated!  My hunch was I can do it myself, but wanted to make sure I wouldn't be missing any big deductions.

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            • #7
              You are fine on your own unless you are missing anything you don’t know you’re missing  Stick with TT.
              Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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