what's the best way to do your taxes?

[gizmo1979]

H.R Block,online,software?I've done them online the last couple of years and it seems to work ok,but I'am always open to suggestions.

[Inland]

1. Turbotax works for me.

But I suspect all the programs work equally well.

The biggest benefit comes in using them year after year, because the import all the info from the prior year and prompt you based on the prior year's return.

[burythehatchet]

2. you pay taxes

tsk..tsk..make a couple mil a year and you won't have to.

[radwriter0555]

3. Hire a certified tax preparer. H & R block is more interested in the

number of people's returns they process, than in the quality and quantity of the return on an individual basis.

[spinbaby]

6. Well, that depends

The lady who did our taxes joined H&R Block and is still doing our taxes--since 1987 now. We like her just as well at H&R Block.

[Ms. Toad]

16. Agreed, as to H&R Block (the company)

However, having worked there for 5 seasons I can tell you there are many individual preparers at H&R Block who do a good, conscientious job, and do care about the quality of your return. Some of them are enrolled agents (as someone below in this thread suggested is a good source for a tax preparer). Unfortunately, it is unlikely you will get one of these good preparers by accident - so if you want a Block tax preparer make sure you find someone to recommend a specific person And don't take them up on any of their refund anticipation loans (which they are trained to push and have exorbitant interest rates).

The best way of doing your taxes (although it is too late for this year) is to take the Block beginning tax prep class and do your taxes yourself. It is well worth the money. Very thorough, very up to date. Despite having done my own complex taxes for years before taking the class, I learned things in the class that permitted me to save $2000+ on our family returns that year and every year for the next 6 thereafter. The classes unfortunately decline in quality as you progress through them (went through them all multiple times and became an enrolled agent). Unless someone else is paying the tuition (Block, if you work there) nothing past the intermediate class is worth the tuition. The decline in quality as the level increases is probably the result of not having been as well and widely tested as the first class.


As far as tax prep software - love Turbo Tax; hate Tax Cut (the HR Block software).

[K-W]

4. Having an accountant on staff.

Or were we supposed to think of the best way to do your taxes if you have financial limitations?

[Pacifist Patriot]

5. Used TurboTax for years.

Or I should say my husband has. I'm the CFO in the family, he's the accountant. ;)

[havocmom]

7. Naked in February

Gets the job done faster

[LeftyMom]

8. I used TaxAct online this year

The IRS has links to sites that will do your federal return for free in the hope they you'll pay them to do your state taxes. I didn't wind up paying anything, since California has a free online filing system now. :)

[indypaul]

9. Find a good Enrolled Agent

near you. Check out www.naea.org how to find one.
There are some good software packages out there but
for the most part most individuals are not familiar
enough with the complexities. Even with the best
packaged software.

[Snotcicles]

10. TaxSlayer.com best deal around $9.95 state is free. n/t

[Corey_Baker08]

11. TurboTax is the easiest Cheapest

If you use the turbotax system first go to the IRS website and fill out a quick survey thing and more than likely they will allow you a free file program for your federal taxes immediately saving like $20. This was my first time ever doing taxes (cause im 15) but it was easy and it showed me exactly how much I would get back(which for me was I ended up owing the state money)also its 100% accuracy plus you have the choice to direct deposit into your checking account which means you can get your money quicker and safer.

Just a thought from a first timer

[recovering democrat]

12. depends

on how simple or complicated your financial situation is and your tax return, and actually how much you keep up with financial info.

I work as a tax preparer, not at one of the "fast cash" chains like Block, but at an office that does complicated returns, tax advise and representation (enrolled agent) for people with major tax issues.

We have lots of people who use turbo-tax or one of the other software programs and they just come in every few years to have us prepare their returns just to "check up" on whether they are getting the best.

For anyone who has ever been in debt to the IRS or had serious issues with them, or owes them lots of money, I recommend at least periodically have a professional preparer do the taxes, or see an Enrolled Agent for major problems.

If you are comfortable doing them yourself, do so - if you have a question, pick up the phone and call the IRS info line. Call several times to see how many different answers you may get! Then pick the answer you need and keep the name of the rep.

[uppityperson]

13. TaxCut is better than TurboTax

I had a problem with TurboTax a couple yrs ago that took forever to get resolved, over a year, not a good thing when trying to do annual taxes. I used TaxCut last yr and will again this yr as it was easy, accurate and no problems with it. Except for not being able to get help from TurboTax, their software was fine too.

Paying someone to do your taxes puts the responsibility on them to get it done right as they will be held partly liable if there is a problem with it later.

[lasttrip]

14. Certified Public Accountant

most likely best qualified.
you get what you pay for.

[eyesroll]

15. Pen and paper.

OK, with the assistance of my computer's calculator.
I've done my own taxes since I was 16. Then again, I don't have particularly complex returns.

[n2mark]

17. Last year I did my taxes via internet

this year I went to H&R Block because of retiring and the many W4's, but they are very very expensive.

[banana republican]

18. As a CPA It depends on where you are....

If you are an employee with little or no income other than your job(W-2) use TURBO TAX or TAX CUT. Either of those products will give you a good approximation of your tax liability (if you really want to game the system use both and select the lower),

If you have other issues (e.g. schedule C; or K-1( you might want to talk to a CPA; enrolled agent; or an attorney). those items are much more complicated than H&R can usually handle.

For any other items such as partnerships; corporations returns; LL-C's ; trusts etc... See a CPA. H&R is *not* qualified to handle those aspects.