15 answers

Body!!!

Ok, I'm gonna put this out there....in the past we've always gone to an accountant for our taxes but returns haven't been oh so great in that last couple of years so we're considering doing it ourselves this year to save the couple hundred dollars we put out to have it done. The question, would it be worth it? have any advise?? will we completely screw ourselves over?? Our situation stats: married (joint filing), 1 kiddo, homeowner, minimal investments....thanks in advance!

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So What Happened?™

Thanks every!!! I think we are going to go ahead & try turbo tax, I have used it before but that was before marriage, kid, house yada yada. It's a little more intimidating now! We do understand we aren't going to really "change" our return, that's not what we're going for...we did change our deductions as to not "give a loan to the government" which did lower our returns but our circumstances haven't changed in several years & we really need to save the money so I think we will take this chance. Thanks so much again!

More Answers

Yes, I think you all can do it.

Turbo Tax, TaxAct.. they walk you through all of that. msn has a great article on the types of people that can do it themselves, and people that should probably use a pro.

http://money.msn.com/tax-preparation/should-you-do-your-o...

4 moms found this helpful

E.:

Even with company buy outs and $180K in profit, we have ALWAYS done our own taxes. We use Turbo Tax and have NEVER had a problem. Buy the software and do it yourself.

Your returns are "oh so great" because of your with holdings. If you want give the government a free loan - then increase the deductions with holdings on your W2s.

If you are doing DRIPs (having profits from your investments being reinvested) your investments should be easy to do. Even if they are "hard" Turbo Tax will walk you right through them.

3 moms found this helpful

You can ABSOLUTELY do your own taxes. We've been doing ours for years and it is so easy (even though we have a business, investments, stock losses, etc.). I highly recommend Turbo Tax software - it walks you through everything in such good detail that you can't go wrong.

But do remember that you're not trying to get big returns really. You're trying to pay the lowest amount of taxes. If you get a big return it means is that you had too much withheld during the year. We almost never get more than a few hundred dollars as a return, but we also don't have a lot deducted during the year. Turbo Tax or another software will tell you how to minimize your paycheck deductions and still not need to pay taxes at the end of the year.

3 moms found this helpful

You should be able to do them yourselves. If you are really paranoid do them yourself and let your accountant do them one more time. If they match you know you have nothing to worry about.

3 moms found this helpful

I think you could easily do it on-line. I recommend TaxAct, you can put your information in and you don't pay anything until the end when you file. They have a free one and deluxe package for $9.95. My mother who has more investments than I and is a homeowner did the free and still received a return. All you have to do is answer questions. Also, let me tell you, I use to go to those places like H&R Block and Jackson Hewitt, then did Turbo Tax, but TaxAct is the exact same is Turbo and you don't have to pay as much to file. I used to pay hundreds when I went to them, not Turbo, but one year I put the same information in Turbo Tax and TaxAct, was getting the same exact refund, but Turbo Tax was going to cost $30 more than TaxAct... that's when I changed...

2 moms found this helpful

We do ours by ourself. So easy. Turbo Tax walks you through every step, you can't go wrong!

2 moms found this helpful

We have done our own for years. It's really easy, even with lots of itemizations and deductions.

1 mom found this helpful

I've always done my own taxes. Even when I got married and bought a house in the same year. Even last year when we pulled the original contribution out of my husband's roth IRA. Even when we had my daughter.

When I was single and before e-file, I did my taxes by hand and then either filed by phone or mailed them in. Since e-file, I've always used H&R Block. A few reviews/comparisons I've read online say that the H&R Block At Home system (online) is a bit easier to follow than Turbo Tax. And it's always been free.

1 mom found this helpful

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