Tax Time: What's your choice

[RootDKJ]

I've finally got my W2 in today, and started to wonder what everyone else does for tax prep.

Turbo Tax
HR Block Tax Cut
Have someone else do it
Work it out by hand on paper
I prefer to stay off the grid

 

[Paul]

I have a CPA do it who's been doing them for the past ten years at least.

 

[ccskier]

I use turbo tax, just try to keep entering stuff in as it comes. Spend a few hours fine tuning and then submit it.

 

[RootDKJ]

I used both Turbo Tax and Tax Cut last year. Federal calculated out the same, but TC gave me around $8 more back on state. Weird.

 

[Marc]

I just do the stupid things by hand. I take the standard deduction. F'ing taxes, don't get me started.

 

[wa-loaf]

I've had a CPA for the last 5 years, but I got my shit together too late last year and used Turbo Tax.

 

[deadheadskier]

Most years on my own, this year a CPA....moved states, bought a place, second job in another state....I don't need the head ache.

 

[ALLSKIING]

I use a CPA as well...Way to much stuff with the business. Infact I just got them back today.

 

[Johnskiismore]

HR Block, but this will be the last time doing it myself. Just bought land, building of the house begins in June, I will hire an expert for 2009 tax time!

 

[severine]

Used to use a CPA when we owned rental property. Now I just Turbo Tax right through their website and e-file. Super easy and fast rebate, too.

I will add that the 1st year we owned the house, I went to H&R Block. They charged me $300 to do the taxes (rental property). The next year I went to my parents' CPA; it was $125. And we owed less money. Yeah, I'm not thrilled with H&R Block.

 

[mondeo]

Probably H&R. I just go with what's the cheapest electronic solution. Minimal income sources, standard deduction, but I like getting my money back quicker. They take enough of my money, they don't need to hold the extra they took that much longer.

The BS part of it is that there isn't an open format for the forms that you can fill out yourself, same as paper, and submit without a 3rd party. Actually makes an argument for doing it by paper. Government doesn't want me to do it the easy way for free, the hell with them. They'll have to read my handwriting.

Hmmm...

 

[drjeff]

CPA - by the time pay + dividends + household employee + real estate taxes in 2 states, etc, etc, etc are factored into the mix, I go the CPA route. Now I'm just waiting to get a bit more info from my business and then I'll get to see if my wife and I get teh 'pleasure" of being hit with one of the biggest oxymorons out there, the Alternative Minimum Tax :uzi:

 

[hammer]

Been using Tax Cut for the past several years...great way to blow several hours in March when I'd rather be skiing. :x:x

One year I used Turbo Tax in the hopes that the data transfer from Quicken would be easier, but it was still a pain because of the way that transactions are categorized. I do check input numbers against what I have in Quicken, but otherwise I just trust the tax software calculations...

 

[Dr Skimeister]

I have an excellent accountant. He makes my Uncle Sam think I earn but a pittance.

 

[WoodCore]

I've been using a CPA for the last 15 years and consider it money well spent.

 

[GrilledSteezeSandwich]

I've always had somebody else do it but I might try turbotax

 

[ctenidae]

CPA past couple of years, but used to do by hand.

I tested the time and effectiveness of doing by hand, with Turbo Tax, and with H&R Block, and fond that they all take about the same amount of time, if you're organized, and I came up with the exact same answer using all three. Cost? By hand is free, Turbo Tax is like $20, and H&R Block wanted to charge me $250- for taking an hour to punch my info in, and come up with the exact same answer I did. Thanks, but no thanks.

Of course, that was all before buying a place and making more money than usual, so now we use a CPA, especially with jobs in 2 states, property, and all. Money well spent, I think.

 

[drjeff]

I have an excellent accountant. He makes my Uncle Sam think I earn but a pittance.

:flag:

 

[Geoff]

I do my own in an Excel spreadsheet, click on the 1040 and schedule B PDFs from the IRS web site, fill out the forms in the browser, save them, and print them out.

I've been living in New Hampshire with no state income tax on earned income and I don't have a mortgage so I don't have enough deductions to itemize. I have all my W-2's and 1099's so I should probably sit down and figure out where I stand. I did the cocktail napkin estimate last summer and it looked like I'd get a couple hundred dollars back.

 

[Euler]

I...click on the 1040 and schedule B PDFs from the IRS web site, fill out the forms in the browser, save them, and print them out.

+1
The PDF fill ins are nice for those of us who do it the old fashioned way.


I keep checking the std deduction vs. itemizing and so far have found the std deduction's been the better bet. We have a low mortgage so get little in the way of mortgage interest deduction and not much in the way of work related expenses.