How will you prepare your taxes this year?

I compile all the necessary information during the year.
My accountant sends me a questionare for my business and one for personal.
I then fill in the blanks reviewing last years tax forms.
He then plugs my numbers into his program.
He sends me packets for each each government instascrewtion

 

I prefer to use a debit/checking card. That saves merchants some on their fees.

Dan uses his credit card on large purchases so he can recoup 1%. Put the purchase of Foxy and our wedding - airfare for us and his parents, hotel rooms, cottage, food, set-up and entertainment, flowers, honeymoon on Maui and in Napa, etc - on his card. We included everything in our year's budget and, as usual, paid off that month's credit card bill.

***

Uncle Sam has mismanaged his money for centuries. He can bite me.

No, that was just my initial reaction. Yes, I remember: I am the government, the government is me (gnashing of teeth).

Ain't no way my paltry pennies are going to make any significant headway on the national debt (ND). Cashed in my US savings bonds, refuse to buy municiple bonds (so far), chastise my Reps and Senators about spending, pork, and the budget every chance I get. Saved a copy of a nasty letter about the Social Security system to my Rep. in 1978! Yes, we knew the system was going to be trouble, even back then.

Reining in the ND can start by balancing the budget every...single...darn...year. Raise taxes when needed, lower only when it becomes feasible, burden with taxes those most able to bear it, stop subsidizing dead industries, halt tax deductions on McMansions and pleasure boats and planes, cut out federally funded flood insurance, etc.

Don't try to label me a Communist or as anti-growth.

If you worked hard for your piles of money and invested wisely, and now you want to purchase a beach-front home that's too large for your family and is difficult to heat, please go right ahead. Just don't expect my taxes to help you purchase and insure your piggish "dream".

It might be wiser to use your wealth to expand your mind and increase your prosperity; spend time with your kids, travel, take college courses, learn another language, study the piano, become a nurse or go to seminary, manage a charity or non-profit, read those books you've been putting off, take cooking lessons, become a wine or beer (or sex!) connoisseur, go on a tour of this country. Whatever.

Enjoy; what the heck do you think your life is for???

 

We have used TurboTax forever. Our returns are complicated with income, rentals, expenses, credits and the like. TurboTax serves us well, every year.

 

I'm a bookkeeper, daughter of a CPA. Personally, I use TaxCut. I also use Quicken to keep track of it all.

When I'm being a pro, I use Quickbooks and TaxCut when I do a return (I do volunteer work for non-profits, 990s are not that tricky).

Since I enjoy numbers and understand enough of the tax code, I don't mind doing my own and helping others. But all I really do is the basics.

Most people can do a basic return unless they panic at the sight of numbers and can't balance their checkbooks.

Pros are great for those people who can't manage numbers or who have a complicated tax situation.

Judging by the H&R Block "Instant Tax Refund" Loan rip off, there are a lot of people out there who probably shouldn't be doing their own basic tax returns.

Not looking forward this year as my husband worked half a year then retired. And we bought the Prius. This one is going to be fun. Yeah, right.

Lisa

 

I would have to answer A: do them myself, B: individual financial consultant (me), *and* D: tax software. People are always concerned how much it's going to cost them, but often I end up saving them money using deductions they knew nothing about. If you have a simple return with few complications, you should be able to do your own. If you are self-employed, have rental property or extensive investments, it's probably worth your while to have a professional do them for you. With electronic filing and direct deposit, the process can be quick and painless. (At least for you. I still get the proverbial shoeboxes with five years of stuff all mixed up.)

 

If you're not be audited you're paying too much tax.