Comments on: Should You Prepare Your Own Taxes?

By: Carnival of Personal Finance #239 – Hot Money Trends of 2010 Edition | Darwin's Finance

Mon, 10 May 2010 21:54:16 +0000

[...] from One Money Design presents Should You Prepare Your Own Taxes, and says, “Should you prepare your own taxes this year? It’s important to consider [...]

By: Carnival of Personal Finance #239 – Hot Money Trends of 2010 Edition | HighYields.com

Mon, 11 Jan 2010 09:25:04 +0000

[...] from One Money Design presents Should You Prepare Your Own Taxes, and says, “Should you prepare your own taxes this year? It’s important to consider [...]

By: Jason

Jason — Fri, 08 Jan 2010 15:58:15 +0000

Thanks for sharing the link for readers to check out. So, as you say, some basic situations may very well make sense for the folks who want to file themselves. Other more complicated situations may require the help of a professional.

By: Arthur

Arthur — Fri, 08 Jan 2010 14:55:51 +0000

I have used http://www.taxactonline.com/
for the last two years. works very well. not too hard. If I can do it anyone can. I do not itemize. If your situation is really complicated, then doing it yourself may be more difficult. But the program just asks you questions and you fill in the blanks. Still pretty easy I thought.

By: Jason

Jason — Wed, 06 Jan 2010 14:54:49 +0000

Credit Card Chaser, sounds like you’re recommending people not go the Turbo Tax route for filing, but to use a CPA. I still think Turbo Tax does a good job of finding deductions, but one can’t deny having a CPA, someone who is a professional in this area, certainly helps insure you’re getting all the right deductions for your situation.

By: Credit Card Chaser

Credit Card Chaser — Wed, 06 Jan 2010 06:58:21 +0000

I would strongly recommend for anyone to use a CPA to prepare their taxes. I am a CFP and soon to hopefully pass the CPA exam myself and have even worked for a couple years as a tax preparer when I was younger and even I definitely use a CPA to do all of my taxes. Just last year my CPA thought of at least one thing that saved me some money that I never even thought of! – Joel
.-= Credit Card Chaser´s last blog ..Dave Ramsey & Credit Cards: I Love Ya Dave but You are Dead Wrong =-.

By: Jason

Jason — Wed, 06 Jan 2010 03:04:31 +0000

Pete, that makes perfect sense and another example of a special situation. Personally, I can’t think of a reason I would ever not use a CPA to file taxes for a business. It’s probably well worth the money to make sure you’re getting all possible deductions (as you say) and filing correctly. And since you hate taxes, it makes even more sense to have someone else do the filing for you!

By: Peter

Peter — Wed, 06 Jan 2010 02:02:09 +0000

I’m probably going to be getting with an accountant this year because of my online income that I’ve made this year. I want to make sure I get all the deductions possible -and that I’m not missing anything. We’ll see how it goes – i still have to make one estimated tax payment next week. *sigh. I hate taxes.
.-= Peter´s last blog ..Blueprint For How To Make Money With A Blog: Creating Content, Optimizing SEO And Promoting Your Site =-.

By: Jason

Jason — Tue, 05 Jan 2010 21:20:39 +0000

Eric, this a great example of a special circumstance and using good judgement on when you need to seek the services of a professional. Please do let me know how everything turns out for you.

By: Eric

Eric — Tue, 05 Jan 2010 20:50:37 +0000

I have used turbo tax in the past, but considering my wife is a self employed nanny and we adopted in 2009 I just filled out the Dave Ramsey ELP form for a tax service professional. I’ll let you know how it goes this year.