TexasCHLforum.com

Use a CPA.

I used to do my own taxes. Hours and hours worth of work, and never sure if you have it right.

Then I tried H&R Block for several years. Their program is cumbersome and the staff is barely sufficiently trained. Some knew what they were doing and others, well they left me wondering if they had done my taxes correctly.

I finally went to a CPA on recommendation. He runs a top notch program, knows the laws, is faster, can flag you to things you need to do now and in the future to save on taxes. I can call him at any time with questions, for which there is no charge. He is easily accessible, and will be there if I need him. The cost is almost comparable to H&R Block, a little more but negligible for the service.

I am a CPA and prepare taxes for a living. The one question that you must answer is "what is my time worth". To properly and accurately prepare a tax return, one must know the tax law and be familiar with the tax changes. To rely just on tax software to prepare your return will result in an inaccurate return and missed deductions. My fees range between $90 and $250 depending on the complexity of the return and the time needed to prepare it. A complex return can be anything from a schedule C business to a large number of stock sales on a schedule D. For those of you considering H&R Block or any of the other box store businesses (Jackson Hewitt, Liberty, etc.), keep in mind the experience level and amount of training. Many of their tax preparers have only attended the basic course. Another question to keep in mind. Being a CPA does not guarantee that you know or are experienced in preparing taxes, the law law and tax law changes. So my suggestion. Find a good tax preparer (CPA or not), ask some questions to get a good feeling on their knowledge and abilities, and have your return professionally prepared. Your free time is worth more than the time you will spend pondering over the tax laws and wondering if you prepared the return accurately and what deductions you may have left on the table. Its the best money you will ever spend.

Dan

Pay Taxes?... Are we supposed to?...