Oooo yeah -- taxes done and accepted

16 years ago

The last few years I've had my attorney do my taxes and he charges me several hundred dollars. This year I didn't do anything out of the ordinary with my finances, so I decided to do them myself.

I used Tax Act software, which was fine. However, about half way through I started thinking "why the heck did I ever decide to do this?"

After three days of pulling my hair out (off and on), I hit "Submit" this afternoon and off they went. Just got the email saying the Federal taxes were accepted. Yay me!

I even got the credit for installing three new energy efficient windows in 2009.

Next year I will find a nice accountant who charges a reasonable amount to do them. I've had enough of it. I do think it's a great way to get "up close and personal" with your finances though. In the past I've just signed what the attorney sent and dropped them in the mail.

Anyone still waiting to file? Better get crackin' -- one week to go.

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Comments (18)

annie1992
16 years ago
I'm just the opposite, I always did my own taxes. Last year we went to H&R Block, against my better judgment, where I sat and told the worker what to fill in and how to do it. That was a waste of $235.

This year, with the farm taxes, income and loss, etc., we took the taxes to an accountant who specializes in farm taxes. She also happens to be married to my farrier, who trims the horses, LOL. For $100 less she did our much more involved taxes.

Too bad we owe the state money, LOL, they are not getting it until April 14. Poor Ashley only made $2500 last year and she owes the state money too!

Annie
dedtired
Original Author
16 years ago
Annie, it seems like the words Farms and Farming came up a lot on the Tax Act Q&A. For me, "do you own a farm" got a No, and I just moved on. Your taxes are complicated!

Between Federal and State, I'm getting back $1,000. Wish I could afford to just blow it.
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doucanoe
16 years ago
I used to pay a(very good) CPA a decent sum of money, depending on how complicated my taxes were.

Last year, since I didn't have the shop, I decided to do the Turbotax thing. Holy cow, was it ever easy!

Did the same this year, but somehow it printed out 2 copies of one form. There was no way I could figure out how to fix it, even accessing their "help" forum. Because of that I couldn't e-file, and I have not gotten our federal refund yet. So...who knows what the deal is...maybe I'll be audited.

So if I start posting from debtors prison I hope you will all still be my friends...

Linda
annie1992
16 years ago
Linda, don't worry, we'll have a bake sale and raise enough to pay your bond, or at least bribe the guards!

Annie
ritaotay
16 years ago
Had my taxes done March on 7th for $110. ( itemized and a bit involved ).. Got the state refund within a week and the federal within two and a half weeks... ( over $2000. ) And most of it has been spent... LOL

Sorry, didn't mean to gloat but the way my life has been going I grab any chance I can to boast.... LOL

I won't advertise my tax preparer here but if you're interested, for next year, ( Allen Park, MI ) send me an e-mail and I'll be happy to pass along the info...

Hugs,
Rita
annie1992
16 years ago
Ah, dedtired, the real question is "what would you blow it on".

Somehow I'm sure if I had a tax return to blow, I'd just buy more fence or another cow or make a downpayment on a tractor and then I'd take it off next year's taxes, LOL.

Annie
dlynn2
16 years ago
We file extensions, so my deadline is October 15. I've got lots more time.
foodonastump
16 years ago
Without getting into a long personal story, let me just say... This past Fall I had H&R Block do my 2007 and 2008 returns; they told me an average simple return is a couple hundred. The guy spent 45 minutes on my returns, the whole time lamenting about the weather and how he wouldn't be able to eat dinner on his boat, the way the sky was looking. Once through, he handed me a bill for $1000!!! Turns out, they charge per form they print, so between itemizations, business earnings, etc. they made a killing.

They also made mistakes which I fortunately caught so I went back. They corrected it, handed me a new packet and sent me on my way. Only problem? They threw out all my original tax forms with the old packet. No big deal since I had second copies, but still. Sloppy.

When I hand delivered my returns to the IRS, the lady saw the H&R Block envelopes and suggested that next time I use a real accountant.

Which I will this year, because he only charged me $150 last time I used him.
dedtired
Original Author
16 years ago
Annie, I would probably spend the money on plants for the garden. Wish they were tax deductible. As it is, it will go into the bathroom reno fund or new (used) car fund.

I have never heard anything good about H&R Block.

I could use the name of a good accountant, but I'm in PA. I really hate dealing with my finances. I'd rather just live in a dream world. I am responsible, but I'm just not one of those people who always has an eye out for the best investment.
lowspark
16 years ago
I do my own plus both my sons'. They were all done back in Feb. Had to because I need all the numbers for them to fill out FAFSA for scholarship money. However, I haven't mailed them in yet. I have a policy that I don't mail in my taxes till the week before they're due regardless of whether I owe or am getting $$ back.

This year I owe but both kids get a refund. When I do get a refund, it always just gets dumped into my savings account so that I'll have it handy in case I owe the next year! DH is self employed and it's somewhat unpredictable as to how much he will make. And I have to submit quarterly payments for his taxes so I have to save a portion of his paycheck for that.

I'll be mailing it all within the next few days.
pkramer60
16 years ago
Done and filed last night. That monkey is off my back and amen. But why do I wait when I know I will get a refund.....
lakeguy35
16 years ago
I pay in quarterly and wait until the very last day to mail mine in. I want to keep my money as long as I can...lol. Mine are done too. I just have to write the check next week and send them in.

David
compumom
16 years ago
Ours are done but not mailed yet. Of course we owe, but the state bill is only $23! Unfortunately the federal tax bill is quite a bit more.

Mom & Dad had a nice surprise--they owe nothing! With all the medical expenses for Dad, they finally were ahead!
It's interesting that everyone is discussing costs. My parent's CPA charged $250. I thought that was really cheap. I guess it's more of an average cost. She has a very long term relationship with the folks and I thought they were getting a discount! Then again, compared to our CPA's bill, they are! FOAS- $1000 at H&R? Fer cryin' out loud, that's robbery! Our personalized regular CPA doesn't charge that!
DH uses Quicken to input all of our checks or electronic payments for the year and when tax time comes, it's a few clicks of the mouse to find all of the deductible items.
foodonastump
16 years ago
But why do I wait when I know I will get a refund.....

LOL I ask myself that all the time. I waited until Oct 09 to file for 07 and 08; got something like $13K back. And it's not like I don't need it!
annie1992
16 years ago
I think we wait because we're AFRAID we're going to owe, LOL.

Ellen, I mentioned cost because I was just appalled at what H&R Block charges. They just hire people who don't know anything about taxes, give them a week or two of training and set them into temporary offices. I had to tell my tax preparer how to do my taxes AND they charge more than the accountant did. It was the first time I'd had anyone do my taxes and I'd seen all those commercials about doing taxes for $35 or whatever and then I get hit with a bill that's a couple hundred higher than that, so when the accountant told us what she charged, I was right on that! We did have to drive about 40 miles instead of 10...

Annie
compumom
16 years ago
Annie- and you supported someone with whom you have a relationship which is significant. I don't know of anyone who has used H&R Block, but it seems like a mill. With everything e-filed and the option to keep your books with a computer program, the organization piece is a lot simpler than in the past.
dedtired
Original Author
16 years ago
My mother paid $1200 to have taxes done. She does have a lot of investments, etc, but it's not like she owns a business or anything. My brother the doctor paid $900. His finances are pretty complicated.

The lawyer charged me $450. TaxAct charged me $17.95! I'd like to find someone good who charges about half way between those two numbers.

It's strange that we all feel good about getting money back, but when you think about it, that means we let the gov't have our money all year. I think owing just a little is the best.

I think I'll try Quicken. My bank lets you download checks and other debits, as well as deposits, into Quicken. I guess it makes sense to do that. I keep very good written records, but the things I forget are donations made on line or directly from my paycheck (like United Way).

I wait to file because I just don't like dealing with money -- except spending, although I am pretty conservative about that, too.
triciae
16 years ago
We've used Turbo Tax for years but things were more complicated this time with DH's "retirement", severance package, closing up our NY residence, etc. so we took everything to a local accountant. I've been worried for months about what the final numbers would look like. Very pleasant surprise. We're getting a refund from the Feds & NY but have to pay CT. I didn't think anybody ever got a refund from NY (thought they had a code prohibiting refunds! lol). It cost $375 but I feel better 'cause I'm not sure Turbo Tax could have handled the mess we had. Ours were mailed on Tuesday so we're all good for another year. (wipes sweat off forehead with back of hand)

I hate, hate tax season. Once, when we were young & dumb, we didn't set aside enough of DH's commission checks & got hit with an unexpected $25K+ Fed tax bill. Gads, it makes my palms sweat even today just thinking about it! We've been ulta-conservative with our withholdings ever since. I'd rather they get the interest than have another surprise like that.

/tricia

Oooo yeah -- taxes done and accepted

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annie1992

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Oooo yeah -- taxes done and accepted

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