3 ms·
It's not that hard to do your taxes on your own, especially if you have last year's as a model to check yourself. For computationally-oriented folks, I imagine
by cproctor 8y ago
It's not that hard to do your taxes on your own, especially if you have last year's as a model to check yourself. For computationally-oriented folks, I imagine you probably want to have a mental model of how you're presenting yourself tax-wise (instead of just blindly trusting Turbo Tax). In that case, most of what you're getting with Turbo Tax is UI.
- nsxwolf 8y agoThere’s a lot of deductions I qualify for that I didn’t know about until I hired a real accountant. I also didn’t know about depreciation recapture on the sale of a rental property. I didn’t know about depreciation at all. If I hadn’t hired an accountant I never would have known to take the depreciation, and wouldn’t have learned that your depreciation gets recaptured even if you don’t claim it. If your tax situation is even remotely complicated it pays to not do it yourself. You don’t know what you don’t know.
- dlp211 8y agoFor the record, Turbo Tax handles this fine. I have used TT for over a decade now and they have been able to handle every situation with no issues. Doing my taxes usually takes me about an hour. Cheaper and faster than having a CPA do it.
- mgkimsal 8y agoMany folks here are web/software people. Many of us would actively argue against a business owner building their own website precisely because "you don't know what you don't know", and your time has a certain value. Focus on your business, leave the tech/web/software/marketing to professionals, etc. At some point it makes sense to DIY; at another point, switching to a professional makes more sense. Figuring out where that line is can be years of "penny-wise, pound-foolish" behaviour of DIY with respect to tax prep.
- deleted 8y ago[deleted]