Let's Talk About Taxes!

[insuranceconceptscindy]

Do you use an accountant?
Do it yourself?
Any crazy things we should look out for?
Been audited? How'd that work for you?

I do it myself- Turbotax and Quickbooks makes it really easy. My challenge this year is that I have a couple of carriers who decided to 1099 me instead of my company. It makes tax time challenging, but nothing we can't overcome.

 

[EugeneM]

the agency uses a medium/large size cpa firm. We could probably find a cheaper solution but we have been attempting to nurture a relationship with them for years.

 

[GreenSky]

Use turbotax. Nobody will cheat like you.

If Al Sharpton doesn't have to pay, why do we?

Rick

 

[axeman462]

I do it myself, I use taxact.com

Only been audited once. that was a few years ago. But I'm also a registered republican, and have put my name on several tea party organizations and petitions...

 

[MedicareAgent]

i'm debating paying my cpa 800 bucks to file my taxes or doing it myself on quickbooks, what do you all suggest? Is quickbooks tough to learn? Time consuming?

 

[HGIMax]

i'm debating paying my cpa 800 bucks to file my taxes or doing it myself on quickbooks, what do you all suggest? Is quickbooks tough to learn? Time consuming?

I've used a CPA for years... Plus a bookkeeper. My taxes were quite complicated with multiple rental properties and multiple companies. And I have LEARNED a lot about taxes and I have a certain level of comfort.

I am down to one LLC (Subchapter S filing) and one rental property. Seems much easier than it used to be. I'm going to use tax software this year. Will most certainly take me several hours to get everything together, but I will save thousands.

 

[LostDollar]

i'm debating paying my cpa 800 bucks to file my taxes or doing it myself on quickbooks, what do you all suggest? Is quickbooks tough to learn? Time consuming?

Quickbooks is an accounting/bookkeeping software to organize your financial records. Re tough to learn, I don't know, but if you are not familiar with either the concepts or the program, I would think you could easily spend twice the amount of time you will pay the cpa for to organize and enter your records.

There are bookkeeping services that will do that work for you, probably at a cheaper rate than a CPA (unless the CPA has an inhouse writeup service he/she bills at a cheaper rate than their own time). You have to evaluate your own combination of current financial resources, ability to work with detail and frustration levels when forced to work with details and make the best decision for your own situation.

If you want to go that route this year, you may need to plan to file an extension in order to have sufficient time to get everything done.

H&R Block and Turbotax are tax software programs to help you complete the IRS forms necessary to file a tax return.

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Use turbotax. Nobody will cheat like you.

If Al Sharpton doesn't have to pay, why do we?

Rick

I don't have to cheat, I get my billions back with H & R Block.

 

[sman]

i'm debating paying my cpa 800 bucks to file my taxes or doing it myself on quickbooks, what do you all suggest? Is quickbooks tough to learn? Time consuming?

As has been pointed out Quickbooks is accounting software, not tax preparation software. Quickbooks is to business accounting what Quicken is to personal accounting.

I've always done my personal tax return, but let my CPA handle my corporate return. They also handle my quarterly filings. I think I pay them around $1,500 per year.

With that said, for preparing personal tax returns, the software by H&R Block and Turbo Tax are quite easy to use.

 

[gambrinus]

I'm too pretty to go to prison. Thus my CPA gets a few $$ each year. Some things are best left to a professional.