Poll:Do you pay someone to do your taxes?

[David1961]

I know there are a lot of DIY's here, and was wondering how many of you do your own taxes versus paying someone else to do them.

 

[Brett_Cameron]

i do mine.

 

[ggbutcher]

With just W-2 income, no. Looking ahead to managing the distribution of retirement savings, probably not, mainly because I'll have the time to figure it out...

 

[Hermit]

Started using a CPA firm about 12 years ago. It wasn't that much more than DIY at first. About 4 years ago the fee started rising rapidly. This year I went to a different CPA and his prices were double the previous CPA. I think I will DIY next year.

 

[rbmrtn]

Always done my own.

 

[MichaelB]

Our previous poll http://www.early-retirement.org/forums/f28/poll-who-does-your-taxes-59832.html

I use Turbotax to do our taxes and Moms. DD uses our copy to do hers and I consult. I do DS's taxes (abroad) by hand.

My taxes were done by tax preparers (big 8, now big 4) for some of the years I lived overseas because I didn't have the time, there were also some complexities and I wanted the backing of tax pros. Also, for a few years I was under a corporate tax equalization program and using their tax preparer was mandatory. Otherwise I've always done the taxes and began using tax SW around the turn of the century.

 

[Lakedog]

Always do my own by hand - takes very little time as I use a spreadsheet to estimate/track taxes.

 

[Lisa99]

For now a pro. We have rental properties, foreign income and are in a limited partnership. After 2016 that will all be gone and we'll be DIY.

 

[JoeWras]

I do my own.

I have a CPA do my father's, for whom I am POA. I just want a second set of eyes on his stuff, especially since he is in another state. His stuff is not complicated. I admit, it is quite costly, but I'll probably continue down that path.

 

[Ronstar]

Do you pay someone to do your taxes?

I used one of the biggest accounting firms for several years. Then I did our taxes myself for a year or two using turbotax. Now I'm using a local CPA, since I'm having a few deals that I don't feel comfortable tackling the tax issues. I should be out of these in a few years, and I'll probably go back to myself and turbotax.

 

[imoldernu]

I use TaxAct... Free for Federal Return, this year 17.99 to add state tax return.
(used to be $13.99) Been doing it that way for many years.
Free, includes Fed Tax and E-filing... online support which is easy and plain talk.

The $17.99 includes as above, plus state return, and E-filing for both, plus free phone help if needed. The service also keeps your previous returns online, and when you file for this year, remembers the basic info for tax numbers of your banks, corporations etc. It also shows your last years numbers for each line, as you're filing.

After you finish, a double check list... with questions about anything you might have missed... hints for where your numbers are high or low for similar returns.

Works great for me, but I have a very simple return... The $17.99 fee is worth in, in spades!.

The Free part is really free... you can sign on, try it for comfort... and not pay a penny. Of course, YMMV.

 

[easysurfer]

I do my own. Years back I payed someone to do it but found myself having to proofread and correct mistakes. So, I decided to go the software route and never looked back.

 

[aaronc879]

I did my own from age 18-31 but the last few years have been more complicated and I wanted to make sure I didn't miss anything so I went to H&R Block. In a couple weeks i'll go to H&R Block again because this is the first year being a independent contractor so I have no idea how to do taxes as a self-employed person.

 

[martyb]

I've done my own since high school. That said, I've paid to have them done a total of 3 times, including this year (2013 taxes). For DIY, I've done it many times by hand, and several times using TaxAct. This year, I was unsure about some aspects of dual-residency between 2 states, with wife full-time in LA & me with a 5 day a week residence in Texas & going home to wife on weekends. We have been filing jointly, but with each claiming to be a full-time residence in the respective states. I wasn't sure whether having purchased a house in Louisiana this past October would complicate things, with either Federal or State (LA). As a TX resident, I paid no state income taxes. Louisiana does have a state tax, so I was concerned LA might not agree that I was a TX resident. Also, when buying the house in Oct, we pulled $17000 from a Roth IRA. All from contributions, and I know what I BELIEVED the rules say, but I'd rather pay a pro to do the taxes than have to go through the hassle with the fed or state later on. Bottom line, I paid $256 to have taxes done & filed this time. I hated to hand over the $$, but in the end I feel better about it. Next time though, back to DIY.

BTW, as of January this year, I'm a full-time resident of Louisiana again. Was able to transfer from the TX office to the office in Shreveport. Now though, I've announced my 3 July retirement.

 

[Walt34]

I do it myself with Turbotax or TaxAct. Early on in the 1970's I'd have it done if there was a big change like buying a house but afterwards I'd just do it by hand once I got the drift of it.

We didn't buy a computer until 1990 and shortly after that I started using software. I'm prone to transposing digits and had to check everything three times so that kept a lot of those errors out.

 

[imoldernu]

martyb...
Now though, I've announced my 3 July retirement.

 

[Donzo]

Kinda embarrassed to say I have them done. While working it made sense to hire a pro because I had income from several sources. Now it is just the portfolio. I paid $180. to have it done this year, but they also did my daughters for free. I guess I am afraid I will do it wrong. I have not done it myself since the 80's. Going to have to check out turbo tax - $180 could be a weekend trip for DW and I or a trip to Costco...

 

[powerplay]

I use TaxAct online to do my taxes. There is a FW topic on TA with a link to sign up for $11.99 to do both state and federal filings.

 

[Hermit]

Alright. You folks are just making me feel bad. I just got my statement from the CPA: $450.00

Its definitely DIY next year.

 

[BBQ-Nut]

We use a CPA as our taxes have a lot of stocks, charitable gifts, etc... and I loathe doing them myself....would almost rather have a root canal...

 

[redduck]

Alright. You folks are just making me feel bad. I just got my statement from the CPA: $450.00

Its definitely DIY next year.

I have a CPA do my taxes. Same guy for at least the last 20 years. After I completely retire (and have a bunch more time) I will still have the CPA do my taxes.

Hermit, maybe I could use your guy? My CPA tends to charge me $525 each year. But, a few years ago, I heard him mumble something about included that $525 there was a $200 annoyance fee. I figured I was getting a deal.

 

[GrayHare]

DIY. IMO far more costly than an accountant's fee is missing out on learning first hand the items that make one's taxable income go up and the ones that make it go down.

 

[utrecht]

Alot of the so-called tax professionals use Turbo-Tax and enter the same info you can enter yourself for next to nothing.

 

[MBAustin]

For about 10 years I've used a CPA for our tax returns, although I've done the kids and my mom's using TT. Now the kids are doing their own, and next year will be the last tax return for my mom as she died earlier this year. I think I'll stick with the CPA until I formally close down my consulting business (probably later this year) and my sister and I get rid of the rental property partnership our parents saddled us with (wish they had just sold the properties). Probably back to TT for me after next year.

 

[FreeAtLast]

I have a CPA that I have used since I owned my business 30 years ago. He has since semiretired and turned me over to a young gal who is really sharp. I like a second set of eyes looking at things. I also have someone to represent me should I ever get audited .