Income Tax Filing....

[RP]

Well, fortunately or unfortunately, it's that time of year again. Please share how your taxes get done. I personally have used Turbo Tax for the past few years and think it's the greatest invention since electronic turners....

[Kerbie]

I now do mine through Block. I used a large CPA firm for many years until I showed up once to review my taxes and found somebody else's social security number at the top of every page.

[Bob Womack]

Live is easier since my wife ceased operation of her business. I was the accountant on the venture. These days it's just an hour on TurboTax. With the new personal exemptions I understand it'll be even less.

Bob

[fitness1]

I organize the info and get the pertinent numbers to my accounting firm via email, and they do the rest. The 300.00 is worth it when you are in business for yourself.

I believe that having a very reputable firm do them for you gives an extra modicum of safety and service.

For example, last year in August I received a "refund" check from the IRS that I knew wasn't right (I don't get refunds) I scanned and emailed the check and letter to the accountant and they handled the rest.

[dkstott]

We've had a CPA do ours for years.. We've got IRA's and a variety of investments that are just too varied to figure out the various forms for me to consider.

[catdaddy]

In a previous life, my wife was an IRS Taxpayer Consultant. Not surprisingly, she has done our taxes for the past 46 years. She has used TurboTax software since its inception to file.

[Silly Moustache]

I'm a Brit, so apart from when I was self employed, my income tax was deducted at source (i.e by my employer, and now my main pension provider) -it's called P.A.Y.E (Pay as you earn) - so I just await the notification from Inland revenue and check they it's correct (I just got it for 19/20 and it isn't)

Do you folks get your pay/private pensions paid gross? and have to then pay tax at the end of the tax year?

[fitness1]

Originally Posted by Silly Moustache

Do you folks get your pay/private pensions paid gross? and have to then pay tax at the end of the tax year?

Most who aren't self employed can choose what their deduction is (claiming "dependants", including yourself) You can have more taken up front, and probably get a refund, or claim less and probably pay in.

Being self employed, the game is to try to predict by paying quarterlies based on your previous years income vs. expenses. Because it's always a moving target, there's no way it ever comes out - but if I get "credit" I just apply it to the owing of my first quarter the next year.

[muscmp]

i chose filing by myself or a family member but i need to clarify that my brother is a tax guy who does mine for me. easy form so it isn't difficult and i probably could do it myself but they are setup to transmit electronically.

play music!

[rokdog49]

Originally Posted by dkstott

We've had a CPA do ours for years.. We've got IRA's and a variety of investments that are just too varied to figure out the various forms for me to consider.

We have lots of all that but my brilliant wife does all of it.

[Wengr]

Local cpa. They mail a multi page packet which we have to fill out and send in. It's actually pretty time consuming. Then they just type our answers in and efile.
I'm sure it takes us much more time to fill it out then it does for them to do the data entry, and I actually feel that I am pretty much doing it myself, but I continue with them for their advice and assistance should any issues arise.

[TBman]

Turbo tax at home, UltraTax at work.

[TBman]

Originally Posted by Silly Moustache

I'm a Brit, so apart from when I was self employed, my income tax was deducted at source (i.e by my employer, and now my main pension provider) -it's called P.A.Y.E (Pay as you earn) - so I just await the notification from Inland revenue and check they it's correct (I just got it for 19/20 and it isn't)

Do you folks get your pay/private pensions paid gross? and have to then pay tax at the end of the tax year?

It's a long story here Andy, lol.

[robj144]

My dad was prepared taxes for H&R Block for long time as a second job during tax seasons. For a long time, he did mine. But now, he can't see that well.

So, I use the H&R tax software and if I have any jargon questions, I call just to check. But, I find it very easy to do by myself with the software and most of the time, it's not confusing at all. Mine isn't super complicated, but I do have quite a few investments and stock. Even so, it only takes about 45 minutes if I have everything ready to go. Just did it yesterday...

[David Eastwood]

We've used the same guy for the last 20+ years. It's comforting to have that much history with him. A couple of years ago, things got very complicated, and he navigated us through that with ease - there's been some fallout from that over the last year or so, so, again, the continuity is valuable.

This year, it all gets complex again, as Minnesota is one of the few states that has not altered its tax code to conform with the new Federal law. I met with him yesterday for this year's go-round, and am very glad I do not have to deal with it.