This is the first year we’ve had a CPA do our taxes, for various reasons. Just picked them up yesterday - we owe about $5K between federal and state! Apparently my employer never bumped my withholding when I got a hefty raise awhile back. (She noticed this when we first brought our paperwork in, so I’ve since gone in to our HR portal and bumped my withholding.) Hopefully there won’t be such a huge hit next year.
Our appointment with one of the chain tax businesses is on Monday. We have a form to fill out, and I know it will be simple for the tax person.
Having had our taxes done by someone else for over forty years does something to your brain. Even though I could probably puzzle stuff out with some software, I DON’T WANT TO. And I figure since I have to put up with getting old, I may as well take advantage of my age and not do things I don’t want to do. I can afford a tax prep fee of $80-$100 or so that has been quoted.
And I will take moments to remember our tax guy, our friend, and grieve his death.
And I will have special thoughts for his widow, who had seen his life’s work winding down, and was looking for more time for them to spend together.
~VOW
If that’s the fee, then you’re getting a heckuva deal. Most of the charges I’ve seen start at about $140.
Filed mine (electronically) today. Since I live in MN but work in WI I get to file 3 returns.
I owe so am not encouraged to file early. Yes, I can set the payment later (in fact I set it for April 12)
MN and WI used to have reciprocity, but no longer – I do get credit for taxes paid in WI on my MN return.
Brian
I had always done our taxes myself. At first it was with the forms we were sent, a pencil and a calculator. Then I started using Turbo Tax when that came out. I used that up until last year. Since I own stock in the company I work for (so am a part owner) taxes get a bit more complicated. I’m able to give all my stuff to our company accountants and they take care of it. My company covers the cost. It is so nice not to have that hanging over my head anymore.
My father always did his own taxes, as well as for both my grandfathers, so I early absorbed the idea that you did your own taxes and I always have. About ten years ago, I discovered a free (for individuals) program called Studio Tax and I always sent them a $25 donation. Then last year they started charging $15, so I save $10. That’s for Canadian and Quebec taxes. I get the program early and whenever a form comes in, I enter it. Takes a few minutes for me and my wife (there are no joint returns in Canada) and will soon file electronically. Then I have to fill in US returns in June. There is a reason I always file a paper return for the US. But I never owe any US taxes; it is just a way to annoy me.
Look for a Enrolled Agent. If you normally get a refund, just file and extension, then schedule a session with him/her after tax season.
This is where we are. Since my spouse is part of an LLC, the company accountants do all the taxes. We’re in a different state than the other owners, which means that we have to scrutinize our state return a little to be sure that the firm hasn’t missed any of our state’s quirks, but it sure is nice not to have to deal with even a simple return. We do have to collect all our paperwork and get it sent in, and they always file for an extension, so we don’t get the actual numbers until October. This poses a slight problem this year, since my husband just applied for Social Security and they’re asking for tax return info for 2023, but it’ll all come out in the wash.
[sob] Our dearly, recently departed Tax Guy was an EA. In fact, one of the first ways I checked out his status was to go to the government listing for current EAs. His name was not there.
Our tax crap was pretty straightforward. We went to H&R and let somebody else do everything. My estimate for the fee was way off, but it was still manageable.
Anyway, it’s over with now.
~VOW