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[anon99]

Unless there are major changes in your personal situtation or taxes laws, if you have had your taxes done last year, just get your forms out and fill in this year's forms using the 2009 numbers.

[spyzowin]

Unless there are major changes in your personal situtation or taxes laws, if you have had your taxes done last year, just get your forms out and fill in this year's forms using the 2009 numbers.

How is a normal mortal supposed to keep up with the ever-changing world of tax law?

Jeepers, people, just spend the money. It's not a big deal and you'll be so much happier.

[nemmo]

Question: If you used TurboTax, did you do the Basic or Deluxe?  I have a lot of deductions/writeoffs from research and travel.

[clean]

When you go to Best Buy, there is a card that shows what each will do.

Otherwise, their website will have a checklist of what each has.

[mad_doctor]

Despite the difficulty experienced by the US Secretary of the Treasury, TurboTax is extremely user-friendly.  You get prompts and tax-saving tips as you go, and it automatically fills out and submits the right forms for you.  This year I had a mad_doctor-record 13-page federal tax return and two state returns.  It required TurboTax Deluxe, and cost about $140, but it's worth it since I probably saved a few thousand dollars.

[wishingiwasfishing]

I just have to respond to this thread. GO TO A PROFESSIONAL TAX PREPARER. Don't go to H&R Block, they are not accountants and do not have a clue about all the fine details of the IRS Code, which is infinitely complex.

The cheap software programs also do NOT catch all the deductions and credits that you may be eligible to claim. The key to having everything included is having someone that ask you specific questions to determine if you have eligible deductions or credits.

For example: Most people know that commuting mileage cannot be deducted as a job expense, but did you know that if you work two jobs, you can deduct the mileage to drive from one to the other as a job expense (assuming you have enough to itemize and exceed the AGI limitations)? I'm pretty sure that the cheap software doesn't ask you about this, which is a huge deduction for some people.

Find someone who is either a CPA or an Enrolled Agent. These people are authorized to practice in front of the IRS. If you are audited, they can represent you in an audit. It is well worth the fee that you will pay.

Someone earlier mentioned the VITA program, which although free, may not be the best option if you have anything beyond the very basic. Returns are completed by people (usually accounting students) who have taken a simple exam on basic tax law, then reviewed briefly by a supervisor, usually an accountant. They probably do not have a lot of experience in preparing returns.

Go to a professional, they are experts.

Would you rewire your own house or call an electrician? Just because you can do something with some effort doesn't always mean that you should.

 

[2much2do]

OP here.  I have to admit, I tried doing my taxes myself, using last year's taxes as a model.  But I wasn't sure about how to handle two pieces of information, and sent it all off to my accountant.  It may have cost a bit, but I am not losing any sleep over my taxes and that's worth something.  Maybe next year? 

[inthelab]

Do you also fill your own teeth, butcher your own beef, do your own electrical, produce your own tv shows?

Do you clean your own house, cook your own food, drive your own car, wipe your own butt?

How far do we take it? 

It is taxes.  They are not hard.  They OP is not doing complicated things now.  Why not try it?  If they are not happy or confident with the result, then find another way.  Personally, I think everyone should try  it (ESPECIALLY CONGRESS) once in a while. 

We do our own taxes sans software for years, after 2 different accountants in a row failed to find deductions I knew about that we qualified for. They were both referred to us by neighbors who owned small businesses.  They also charged significant money to do our taxes, nearly $1K (this was 20 years ago).

[neutralname]

I've now done my taxes using tax software, but I haven't yet filed. 

When I used to fill out the forms myself, I felt pretty sure I had done it right.  I guess it is not very different using software, but still, I worry that using the software has really led me to the proper treatment of my 1099-MISCs and the Schedule C. 

I think I'll sit on it, review it all on the 14th, and then press "File".

[dellaroux]

Also, just for those who might benefit, be aware that due to flooding and potential records losses in the past month, some areas are currently qualified for a delayed tax submission date.

I believe the last I heard it was May 11.

[eddyman]

I just wanted to add that for the past two years I've gladly handed off my taxes to a licensed CPA.  They ended up costing a little less than H&R Block which I used once before that, and they seemed much more professional and engaged.  I used to do my own taxes and frankly the $275 we spent on a CPA this year was well worth it for avoiding the time spent doing your own taxes and second-guessing your tax preparation or Turbo Tax's preparation.   

[neutralname]

It did take me about 4 or 5 hours to do my taxes this year using tax software, but then it takes about 3 or 4 hours normally to get all the necessary information together, and then another couple of hours going to the accountant all told.  So I feel like it was about the same time investment and I saved myself somewhere between $150 and $400 depending on which accountant I would have used.  Next year I think I'll be more efficient with the tax preparing and it will be even more worth it to do it with the software.