Up until yesterday with the consummate professional user Houndster. Too bad another promising YOUTH has lost his way thanks to the weed drugs.
For those that are married with kids, y'all seem to be paying this year instead of getting a federal refund? Not much has really changed since last year for me, so not sure what's up. Typically how many allowances are you guys taking on your W-4?
I'm at 12 allowances and still getting too much money back. Won't match you exactly since we also have a small farm, but wife doesn't work and we had 2 kids for 2017. CPA said we'd be getting back a lot more in 2018 under the new tax law, so will be bumping up my allowances more.
We just started with the CPA because of the farm and used to have a renter. Will keep using them though
I don't have a business or any properties rented out, but I would like tax advice and someone who knows what they are talking about. What do CPAs usually charge, roughly?
Had a kid and bought/sold a house in 19. Is there anything in the code that would benefit from using a pro? I usually do mine online with h&r block.
Could you tell her that a man from the internet wants to know if she'd do his for an exchange of nuts?
Use a CPA because and we have a farm LLC. I don't quite understand how to handle depreciation on buildings/equipment/animals, so it's easier to get them to do it. It's only $300, so not too bad.
Having a kid just increases your exemptions, there might be qualified expenses you could deduct if you think you have enough to itemize. fairly sure that profit from selling a house is tax free up to a certain dollar amount for homeowners.
I try to set the high score when I'm playing. I like that if you put something in and your score goes down, it lets you change it so your score goes back up.
NPR is right. Profits up to 500k for married couples are exempt. If you don’t already itemize on schedule A there’s a chance you might be able to with all the medical expenses for the kid. Any of the tax prep services should be able to handle this
Did Turbo tax while I was single and not making any money. Hired a CPA to do it last year and it was a breeze. With both of us working, two kids, and a mortgage, it works for us.
Maybe, we had some issues in the past because because I forgot to claim some investment income and he helped us work through those. (stupid, but live and learn I guess) I had a sizable pay increase in 2018 and it led to me having a large bill last year that I owed. I felt better about using a professional to make sure I was paying the right amount. He also helped me select a new filing status so I didn't have another bill this year. I should also add we use the accounting firm that does our audits at work and we get a pretty significant discount to use them. I paid him $250 last year. That additional $200 or so is worth the piece of mind for us.
I think TurboTax ran me like $100 last year, but if you're getting a CPA to do it for $250 then I'd go with that. Nothing you've said is by any means complicated from a tax perspective, but that's a solid deal to have a pro do it. I work in tax and will still pay a buddy $250 to do my taxes this year because of my BFF's failure to pay fed taxes last year (see stupid shit thread), although I'm currently trying to trade some legal work for his tax services for free.
Single, no kids, rent, normal office job. Normal investment accounts. Always feel like my taxes are super easy, but I only get a few hundred back. I don’t think there’s a way for me to get more though with my situation. Will have to file state taxes for the first time this year.
As a CPA, you might as well light a few hundred dollars on fire. The warmth will be more valuable than what you're getting for that.
I probably should have elaborated on my original post. When you are looking at a $3,000+ tax bill, you are happy to have a CPA look at it for an extra $150.
When I do friends/family taxes I just do them with TurboTax. I’d recommend that for everyone unless you have a business or a lot of different investments. You probably need to adjust your withholdings unless you had a big capital gain or something that doesn’t occur regularly.
I have to pay this year and long for the college years of getting back a grand or two and blowing it on a new TV.
I've often wondered how many CPA's are just laughing all the way to the bank at the # of people who pay them $300 to do 15 minutes of work the person could have done on their own for $30