1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

  2. Live Rockets Discussion
    Alperen Şengün is back, set to face the team that traded him away. Kevin Porter Jr. still seems a ways away from a return. ŞenHub, trade deadline (it's February!) and more -- We're talking Houston Rockets at 11:00am CT.

    We're Talking Rockets!

Question about taxes

Discussion in 'BBS Hangout' started by sbyang, Feb 1, 2012.

Tags:
  1. sbyang

    sbyang Member

    Joined:
    Oct 28, 2002
    Messages:
    1,937
    Likes Received:
    43
    When is it worth it to get a pro to do your taxes?

    I have always done my own. Is it worth it to get a pro to do it instead? My situation is that I will itemize, but no business income.
     
  2. juicystream

    juicystream Contributing Member

    Joined:
    Apr 17, 2001
    Messages:
    28,611
    Likes Received:
    4,542
    To be honest, probably not. Our firm charges a minimum of $400, and for most people, I would say it is a waste of money.
     
  3. ArtV

    ArtV Contributing Member

    Joined:
    Jun 25, 2002
    Messages:
    6,693
    Likes Received:
    1,134
    Ever try tax software? Most are very easy.
     
  4. PinoyRocket

    PinoyRocket Member

    Joined:
    Apr 19, 2010
    Messages:
    914
    Likes Received:
    34
    When you don't understand how it works.
     
  5. Stacy's knee

    Stacy's knee Contributing Member

    Joined:
    Feb 22, 2010
    Messages:
    327
    Likes Received:
    26
    I just finished with H&R Block.com. Didn't realize the child credit went down $400 per child this year. $800 out of my pocket :(
     
  6. mrm32

    mrm32 Member

    Joined:
    Jun 26, 2006
    Messages:
    10,457
    Likes Received:
    2,326
    I would only suggest it when it is a complicated tax return and you don't know what you're doing.
     
  7. Stiles

    Stiles Member

    Joined:
    Jan 1, 2010
    Messages:
    18
    Likes Received:
    3
    Stacy's knee -

    Based on this link:

    http://www.irs.gov/publications/p972/ar02.html

    I am not sure the child tax credit limit was decreased. You might have had an income phase-out limit which would have decreased the total child tax credit limit allowed to take on your tax return.

    Hope this might help.
     
  8. DrLudicrous

    DrLudicrous Contributing Member

    Joined:
    May 9, 2002
    Messages:
    3,936
    Likes Received:
    201
    I've used turbotax.com the past few years and have been very happy with it, and the returns I've gotten are comparable to when I paid somebody to do them. I think it's $30-$40 for a basic return, and you don't pay until the end so if you don't like it you don't have to use it.
     
  9. Stacy's knee

    Stacy's knee Contributing Member

    Joined:
    Feb 22, 2010
    Messages:
    327
    Likes Received:
    26
    You are right, my mistake, thanks :eek:

    I have been using H&R block.com for the last 10 years, and it makes it very easy - I would recommend it. It does cost $20(at the end also), but you can sign electronically and get your refund within 10 days.
     
  10. leroy

    leroy Contributing Member

    Joined:
    Jun 25, 2002
    Messages:
    25,458
    Likes Received:
    8,184
    I've used both TurboTax and H&R. Both are great and very easy to use. I just did mine this morning in about an hour.
     
  11. B-Bob

    B-Bob my celli weighs a ton
    Supporting Member

    Joined:
    Jul 26, 2002
    Messages:
    33,004
    Likes Received:
    29,534
    This. The wife and I have used professional CPA's but I've found we do just as well with Turbotax or similar.

    You have to do so much of the work for a CPA anyway (gathering documents and receipts and answering the same darn questions that turbotax asks.)

    No offense to CPAs!
     
  12. RockFanFirst

    RockFanFirst Member

    Joined:
    Dec 19, 2011
    Messages:
    2,060
    Likes Received:
    1,175
    Agreed. It's what I've used for the past 4-5 years...no issues. I itemize for work, home, kid, medical bills, etc. and it is very easy to follow.
     

Share This Page

  • About ClutchFans

    Since 1996, ClutchFans has been loud and proud covering the Houston Rockets, helping set an industry standard for team fan sites. The forums have been a home for Houston sports fans as well as basketball fanatics around the globe.

  • Support ClutchFans!

    If you find that ClutchFans is a valuable resource for you, please consider becoming a Supporting Member. Supporting Members can upload photos and attachments directly to their posts, customize their user title and more. Gold Supporters see zero ads!


    Upgrade Now