Taxes

[DC]

Who wastes $ paying someone else to do this simple task.

[fishepa]

Re: Taxes

The only way I would pay someone else to do mine is if we owned a lot of property or crap like that. We don't, so I do ours. Easy as pie.

[ExtremeGamer]

Re: Taxes

I do mine on TaxAct every year, $16 for state/federal, and got my return in 6 days. Woot.

[DaveDQ]

Re: Taxes

My wife gets a discount with TurboTax through her work, so I do it through their internet program. We already got our state/federal done and returned.

[Chaos81]

Re: Taxes

Either I do it, or if I have something that's a bit complicated, I let my Dad do it. Nice and easy.

[McLite]

Re: Taxes

I pay and it's worth every penny...she's a genius. Got in done last night and my direct deposit will be in my account in 2 weeks.

[Stumbleweed]

Re: Taxes

FYI, lots of states have free tax preparation services for people who qualify for the Earned Income Credit. In CO, they do it for free if you make less than $45K per year. I plan to take advantage of that since I bought a house last year and am not 100% sure what I can deduct and what I can't. It will be good to have someone to help me this year and then I can go back to doing them myself online like I had been previously.

[Brandon13]

Re: Taxes

Who wastes $ paying someone else to do this simple task.

It's not always simple.

[superjames1992]

Re: Taxes

Who wastes $ paying someone else to do this simple task.

If you own a business, it's not simple at all. It's a serious pain in the butt. But for a lot of people who don't own a business, it can be simple if you know how to do it.

[Splitter77]

Re: Taxes

the wife and i pay.
$50
we're getting back $350 for state
$9,500 for federal.
remember if you bought your first house between the dates of 5/08-7/09 you are entitled to a $7500 tax credit interest free loan. We took this. It will help alot.
They just take out $500 from the taxes starting in 2010 for 15 years.

[mjb2124]

Re: Taxes

I'll probably get screwed again this year. I moved a chunk of money into a Roth IRA so I'll have to pay taxes on that (did the same thing last year). My wife did the same thing this year. My guess is we'll end up paying $2000-$3000.

The positive is, I'll never have to pay taxes on that money again - regardless of how much it grows due to interest. Of course, the government could change the law, but that's out of my control.

[Stumbleweed]

Re: Taxes

the wife and i pay.
$50
we're getting back $350 for state
$9,500 for federal.
remember if you bought your first house between the dates of 5/08-7/09 you are entitled to a $7500 tax credit interest free loan. We took this. It will help alot.
They just take out $500 from the taxes starting in 2010 for 15 years.

Actually, the new stimulus bill changes things a bit. You don't have to pay it back now -- here's a link: http://finance.yahoo.com/taxes/artic...imulating-Work

"There's the $8,000 tax credit for first-time home buyers who buy between Jan. 1 and Dec. 1, 2009 -- this credit doesn't have to be paid back, unlike the $7,500 perk available in 2008.

But there is one aspect of the home-purchase credit that could require planning: You can claim the credit on your 2008 taxes, even if you bought the house in 2009, according to Mark Luscombe, a principal analyst with CCH Inc., a Riverwoods, Ill., tax publisher and unit of Wolters Kluwer.

"There may need to be a little IRS instruction in that regard because the [2008] forms and instructions probably don't at present contemplate an $8,000 credit," he said. "But it is fairly clear that making that election will not change the 2009 purchase to a 2008 purchase." The home-buyer credit starts to phase out for taxpayers with adjusted gross income above $75,000 for single filers and $150,000 for joint filers, according to CCH."

[Blzer]

Re: Taxes

I won't be blunt about this... I've never done taxes before in my life. My dad used to take care of them for me, but since he has passed it is now my responsibility.

I don't have to owe taxes on a home or anything like that, but I read these forms and I go berserk. I don't even know what I'm looking at.

For whatever reason, I thought you all should know.

[kt-od]

Re: Taxes

I own my business. Well I have a partnership with a guy. I no way would I ever do my taxes. In no way do I have the time, plus there are so many accounting rules I wouldn't even be able to keep up with on my own. That's why I have an awesome accountant that saves me thousands every year.

[Redacted01]

Re: Taxes

TaxSlayer thankfully still lets me file for free even with K-1's, though there site isn't that great. Turbo Tax wanted like $80. I don't think so. They aren't that hard and everything has checked out the past couple of years. I always do my state on the side after that. Once you've done federal, most states are almost copy and paste and thankfully, I'm not filing in 3 different states this year.