Getting Taxes Done - Reccomendations and Help?

the_grimace

the_grimace

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This is my first year I'll need to do my taxes on my own. My dad usually would do our whole family's taxes at H+R block every year, and he even did it for me while I was at school. Now that I'm working and far away from home still, I need to get them done but I'm ABSOLUTELY CLUELESS on what the process involves. Like i have no idea where to even start.

My dad strongly recommends just using H+R block since he likes them and said its only $80 or something to file and they know the ins and outs so you don't miss anything and can maximize your return. I've been asking at work though and so far everyone has told me to stay very clear of H+R block. They all have horror stories, saying its mostly temps and interns who do nothing more then use a turbo tax like software and don't really know much more then you would. They said using H+R block is usually just a pain as you will probably have to keep going in many times since the workers keep forgetting to tell you what forms you need and what not, and many have got charged for these multiple visits making their total visits cost near $300....

That being said, a lot have recommended turbo tax, and many more have recommended using a private accountant even though its much more costly. (since a private accountant can really help get your maximized refund)

Regardless, I am curious to try turbo tax. It seems to be up my alley, but I am nervous about screwing up or not reporting many deductible items due to just not knowing them. I also have been warned there are sometimes hidden fees for using the program, and that you need to buy it every year....

What would be the best option for a newbie trying to get his taxes done?
 
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youre what, in your mid 20s? theres no way your taxes can be that complicated. just use turbo tax or use any number of websites out there for even less.
 
We send them off to H&R Block (usually some semi-professional person at a tiny desk in Wal Mart or Freddies. Are these people real acountants?)

It seems like we pay $200-$300 to HR Block to get them done but we end up getting $1500-$2000 back, so... And the cost to get them done comes out of the refund so it's not like we lose anything out of pocket.

I'd like to try the free software this year, but with mortgage deduction, child deduction, school loan deduction, charity deduction it just sounds too complicated.

Don't want to pay $50-$70 for turbo tax and get half way through it and realize it's too complicated either.
 
[quote name='eldergamer']We send them off to H&R Block (usually some semi-professional person at a tiny desk in Wal Mart or Freddies. Are these people real acountants?)

It seems like we pay $200-$300 to HR Block to get them done but we end up getting $1500-$2000 back, so... And the cost to get them done comes out of the refund so it's not like we lose anything out of pocket.

I'd like to try the free software this year, but with mortgage deduction, child deduction, school loan deduction, charity deduction it just sounds too complicated.

Don't want to pay $50-$70 for turbo tax and get half way through it and realize it's too complicated either.[/QUOTE]

No offense, but you're getting ripped off if they're charging you that much. Turbo tax is dead simple and just as accurate, if not more so.
 
[quote name='mtxbass1']No offense, but you're getting ripped off if they're charging you that much. Turbo tax is dead simple and just as accurate, if not more so.[/QUOTE]

Yup, as long as you hold on to the important stuff your bank, mortgage company, etc send to you, Turbo Tax is a cinch.
 
I don't even like H&R Block's software. I found an error in the way they were calculating tax on penalty-withdrawals from an IRA and I spend quite a bit of effort trying to get anything but a form letter back from them without luck. I switched to turbotax that year (which calculated it properly) and have been using them since.

Like everyone else said, Turbotax is really simple. Just make sure to read the questions thoroughly and answer accurately.
 
[quote name='eldergamer']Don't want to pay $50-$70 for turbo tax and get half way through it and realize it's too complicated either.[/QUOTE]

If you do Turbo Tax online, you don't pay until you file.

For me, I used H&R Block last year. Not all the employees are temps. I did research on who we used to make sure they majored in Finance and/or Accounting and had been in the industry for 5+ years. Note it was an actual store location, not a booth at walmart or something like that. The thing about them is if there is an error that results the IRS audit they pay your fees. To me that is a good piece of mind. As for everyone's pricing stories, all I paid last year were the filing costs, no additional fees; the same I would have if I did it myself. My taxes get kind of crazy with the fact that I work in a different state than I live in addition to buy/sell of stocks (alot of those forms are tough to read what is important in the filing).

To OP...
If you just have a work W-2 from an employer in the same state you live in (i.e no kid/home/etc deductions, stocks, etc), I would just do it on Turbo Tax Online. The steps walk you through it. If it goes beyond just work taxes/refund, I would consult with someone whether it is H&R Block, another tax agency, or having your own accountant.
 
Of course I'm extremely biased as an accountant for a living, but I love that people treat taxes as if they are some complicated rubiks cube of paperwork. You'll find 95% of any questions answered in the instruction booklet and anything else online. Kids, marriage, house? Just take a few minutes to play with your figures once you give it a go and you can "maximize" on your own.

I feel better about recommending TurboTax than H&R Block. H&R hires in October and you don't need any formal education or training to work there. I'm sure they have some professionals in each branch but I'd be surprised if they're on the front lines working with clients very often. The employees sit behind a computer that tells them what to ask but if you want to know the truth, so do most CPAs.
 
I used TaxACT and was pleased with the results. Dual income household with one child, mortgage, educational expenses (for me), the program takes you through step-by-step to cover everything. Nearly $3000 back on Federal and only cost $14.95 to file my federal forms.

Forgot to add that it took less than an hour to complete.
 
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[quote name='eldergamer']We send them off to H&R Block (usually some semi-professional person at a tiny desk in Wal Mart or Freddies. Are these people real acountants?)

It seems like we pay $200-$300 to HR Block to get them done but we end up getting $1500-$2000 back, so... And the cost to get them done comes out of the refund so it's not like we lose anything out of pocket.

I'd like to try the free software this year, but with mortgage deduction, child deduction, school loan deduction, charity deduction it just sounds too complicated.

Don't want to pay $50-$70 for turbo tax and get half way through it and realize it's too complicated either.[/QUOTE]

Don't be intimidated by the tax software. They try to make it as easy as possible. It seems like you're in the same boat as me. I bought Turbo Tax Premium edition a few years ago and I've never looked back. I own real estate, get paid 1099 and W2, and it takes me about 1 hour every year to do my own taxes. G'luck! :)
 
[quote name='QiG']Of course I'm extremely biased as an accountant for a living, but I love that people treat taxes as if they are some complicated rubiks cube of paperwork. You'll find 95% of any questions answered in the instruction booklet and anything else online. Kids, marriage, house? Just take a few minutes to play with your figures once you give it a go and you can "maximize" on your own.

I feel better about recommending TurboTax than H&R Block. H&R hires in October and you don't need any formal education or training to work there. I'm sure they have some professionals in each branch but I'd be surprised if they're on the front lines working with clients very often. The employees sit behind a computer that tells them what to ask but if you want to know the truth, so do most CPAs.[/QUOTE]

This 100%. Also a CPA.

Some people have complicated taxes but those are usually the rich bastards who can afford to hire CPAs. A vast majority of the population can very easily do it themselves or use TurboTax/other software if they are that chickenshit.
 
well one issue for me is that concerns me with attempting to do my taxes is my residence. My permanent residence is still considered Pennsylvania (where I grew up) I then attended school in Arizona from Jan-Aug of 2010. Then I moved to Illinois for a job in august and still work there. The thing is though, I did not change my residence due to me being a temp worker, (I have a 10 month contract) Due to not really knowing whether or not I would stay long term made me keep my residence in PA. So i'm confused on how that whole thing goes down when it comes to filing my taxes. I am not even sure if Illinois requires you to file a state tax return, and like i said, i am not really a resident.

The only other tricky business is my tuition status. Saying it can be deducted, and payments on my loan can be deducted. I have a 1098E form, but wouldn't know what to do with it unless turbo tax brings it up.

Other then those two areas, my taxes probably ARE extremely straight forward.
 
If your taxes are relatively simple, do them yourself. Tax software makes them pretty easy. Better yet, depending on your income, you may be able to do them online for free.
 
[quote name='the_grimace']well one issue for me is that concerns me with attempting to do my taxes is my residence. My permanent residence is still considered Pennsylvania (where I grew up) I then attended school in Arizona from Jan-Aug of 2010. Then I moved to Illinois for a job in august and still work there. The thing is though, I did not change my residence due to me being a temp worker, (I have a 10 month contract) Due to not really knowing whether or not I would stay long term made me keep my residence in PA. So i'm confused on how that whole thing goes down when it comes to filing my taxes. I am not even sure if Illinois requires you to file a state tax return, and like i said, i am not really a resident.

The only other tricky business is my tuition status. Saying it can be deducted, and payments on my loan can be deducted. I have a 1098E form, but wouldn't know what to do with it unless turbo tax brings it up.

Other then those two areas, my taxes probably ARE extremely straight forward.[/QUOTE]


Can't speak for all states... but the states near where I live(that have state income tax), you have to file state taxes if you work or live there. The software will walk you through this as well.

Also... the online versions of turbotax are free till you file, so best thing to do is go to the website and test the waters... it will tell you to get this form and enter box 1, box 1a, etc... it totally holds your hand. If the basic one doesn't do what you need try the next one.

This can be done in about 5-10 minutes for most people.
 
I use HRBlock.com and it's so easy. I've done it the last 3 or 4 years or so and never had a problem. It's step by step, asks you all kinds of questions then brings up additional questions which would apply to tax credits/deductibles compared to your previous answers. Free to file your federal and $30 to file state. Takes maybe an hour or so tops to do it.
 
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