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Posts tagged with: accountant

The Tax Man…

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I’m facing my biggest foe this weekend… the IRS. This is the second year we have decided to prepare our taxes ourselves with free tax software. It’s a huge savings from the $200+ we were spending on our accountant but I’m always a little leery about dealing with the government on my own… and I work for the government.

That should tell you something.

We will still have to consult with a friend about some questions we have, but I’m hoping we’ll come out on top again. We got a huge chunk of cash back last year but we didn’t adjust our withholdings since our deductions were changing this year. I know Dave Ramsey yells at people who let the government withhold too much money, but since our deductions are far from predictable, we have to take a safe route.

I’ve cleared my schedule (and the living room floor), chilled a 6-pack of beer to keep hubby interested, and I think we’re ready.

Poll time!

Do you prepare your own taxes or pay an accountant?


Income Tax Preparation…

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My husband and I have always had fairly complicated taxes. Between a home purchase, car taxes, and lifetime learning credits for school, we have been unable to prepare our own since we married.

This year, our taxes have simplified a bit and I think we may be able to prepare them using tax software. I’ve never done this before and I’m a bit concerned about my abilities. Heck, I hardly trust myself to calculate the proper tip at a restaurant – and miscalculations of tips don’t generally result in jail time or huge fines.

But I’m motivated by one thing…

$6.65

Doesn’t seem like much… until I realized that is how much we pay our accountant per MINUTE to prepare our taxes. It adds up very quickly.

Suddenly, TurboTax for $53 on Amazon or $49 at Costco seems like a steal.

How do you prepare your taxes? Have you somehow managed to prepare them yourself without a Masters in Accounting?

What do we generally report? Mortgage/taxes, student loan interest, student books and fees, car registration, etc.


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