DIY Tax Software

NEW -> Contingent Buyer Assistance Program
Has anyone tried a CPA?  All my friends who go to a CPA pretty much have always gone to a CPA so can't really say if there is value compared to DIY.  We have always done our own taxes but its getting a little more complicated with investments, HSAs, etc and wondering if a CPA is worth it. 
 
I use a CPA, good to have another set of eyes on your finances, pay $350 last year, looking back, looks like quite a bit of fees to pay for a fairly straightforward return.  I do get questions throughout the year, so for about a $1 a day, I get my answers from a professional who knows my history.  She has been raising the price every year though.. If it tops over $400, gonna have to hit up qwerty and USCTrojan for advice :)
 
if PS9's CPA looks like this and he gets face to face, $350 is cheap
article-1200752-05c62165000005dc-179_468x3951.jpg
 
UPDATE:
"TurboTax users are loyal customers. Many were furious when they learned that this year's desktop version of TurboTax Deluxe had been downsized. The company removed Schedules C, D, E and F - the forms needed to report income from investments, self-employment and rental property income. To get that full functionality, customers must spend an additional $30 to $40 to upgrade to other versions of TurboTax.

Intuit announced that it will rebate $25 to customers who used TurboTax Deluxe desktop software last year and needed to upgrade to TurboTax Premier or Home & Business to file their 2014 returns. That rebate is available to those who apply after they file their return. To get the money back customers are required to provide their Social Security number."
http://www.nbcnews.com/business/tax...fers-rebate-downsized-turbotax-deluxe-n292041






 
ps9 said:
I use a CPA, good to have another set of eyes on your finances, pay $350 last year, looking back, looks like quite a bit of fees to pay for a fairly straightforward return.  I do get questions throughout the year, so for about a $1 a day, I get my answers from a professional who knows my history.  She has been raising the price every year though.. If it tops over $400, gonna have to hit up qwerty and USCTrojan for advice :)
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PS9 - for $350, does that include tax planning? (Reducing Income, Increase Your Tax Deductions, Take Advantage of Tax Credits)

 
i1 said:
ps9 said:
I use a CPA, good to have another set of eyes on your finances, pay $350 last year, looking back, looks like quite a bit of fees to pay for a fairly straightforward return.  I do get questions throughout the year, so for about a $1 a day, I get my answers from a professional who knows my history.  She has been raising the price every year though.. If it tops over $400, gonna have to hit up qwerty and USCTrojan for advice :)
Click to expand...
That's a 1%er move. How many questions did you ask in the last year? I'm guessing all could've been answered with less than 1-2 hours of google-fu and reading.
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Not that much, average..maybe 3 questions through email.  Hey good info's not cheap, might as well get it from the source. 
 
eyephone said:
ps9 said:
I use a CPA, good to have another set of eyes on your finances, pay $350 last year, looking back, looks like quite a bit of fees to pay for a fairly straightforward return.  I do get questions throughout the year, so for about a $1 a day, I get my answers from a professional who knows my history.  She has been raising the price every year though.. If it tops over $400, gonna have to hit up qwerty and USCTrojan for advice :)
Click to expand...

PS9 - for $350, does that include tax planning? (Reducing Income, Increase Your Tax Deductions, Take Advantage of Tax Credits)
Click to expand...

Yeah, that's what we go over on our return.  Not much we can do on income, max out 401k contributions, FSA, Dependent care, that's about it.  Our deductions has gone down YOY due to my 5/1 ARM refi's, a good thing.  We don't qualify for tax credits, if you know any, let me know.
 
ps9 said:
i1 said:
ps9 said:
I use a CPA, good to have another set of eyes on your finances, pay $350 last year, looking back, looks like quite a bit of fees to pay for a fairly straightforward return.  I do get questions throughout the year, so for about a $1 a day, I get my answers from a professional who knows my history.  She has been raising the price every year though.. If it tops over $400, gonna have to hit up qwerty and USCTrojan for advice :)
Click to expand...
That's a 1%er move. How many questions did you ask in the last year? I'm guessing all could've been answered with less than 1-2 hours of google-fu and reading.
Click to expand...

Not that much, average..maybe 3 questions through email.  Hey good info's not cheap, might as well get it from the source. 
Click to expand...

I agree with this. It's the same reason we went through an family/estate attorney to do our trust stuff versus diy on legal zoom. I email my guy a few times a year too with questions. Most recently, he had to look at something for me during a refi. All for "free". Obviously, if something is more complex and requires more than a quick look or email back, I'm sure he would charge me but at least I have someone to go to right away.
 
For more complex stuff or when you don't have time or interest, I'd agree getting expert info is very worthwhile. On straight forward taxes, there's usually lot of free, good info not too hard to find
 
ps9 said:
eyephone said:
ps9 said:
I use a CPA, good to have another set of eyes on your finances, pay $350 last year, looking back, looks like quite a bit of fees to pay for a fairly straightforward return.  I do get questions throughout the year, so for about a $1 a day, I get my answers from a professional who knows my history.  She has been raising the price every year though.. If it tops over $400, gonna have to hit up qwerty and USCTrojan for advice :)
Click to expand...

PS9 - for $350, does that include tax planning? (Reducing Income, Increase Your Tax Deductions, Take Advantage of Tax Credits)
Click to expand...

Yeah, that's what we go over on our return.  Not much we can do on income, max out 401k contributions, FSA, Dependent care, that's about it.  Our deductions has gone down YOY due to my 5/1 ARM refi's, a good thing.  We don't qualify for tax credits, if you know any, let me know.
Click to expand...

The things you mentioned does not seem "value added" and does not warrant a $350 prep fee.  So now you know what to enter in the tax form. (for you - w2, mortgage interest, property tax, interest income; thats really simple)
You can just use turbo tax or H&R Block software.  Since your a "deals" type of guy think about TaxAct, I think its cost $20. (Im strongly considering taxAct after the the turbo tax "debacle."
 
Thank you for the info.  It doesn't sound like Intuit learned enough of a lesson though by just giving back rebates for Premier or above this year.  They didn't say from next year Deluxe will include those things again.

If not, they should rename the Deluxe version to the "Not-so-Deluxe" version. Or, 99.9%er version.  :P

Definitely if Deluxe doesn't restore those functions (at least Schedule D) next year, I will look for something else.

eyephone said:
UPDATE:
"TurboTax users are loyal customers. Many were furious when they learned that this year's desktop version of TurboTax Deluxe had been downsized. The company removed Schedules C, D, E and F - the forms needed to report income from investments, self-employment and rental property income. To get that full functionality, customers must spend an additional $30 to $40 to upgrade to other versions of TurboTax.

Intuit announced that it will rebate $25 to customers who used TurboTax Deluxe desktop software last year and needed to upgrade to TurboTax Premier or Home & Business to file their 2014 returns. That rebate is available to those who apply after they file their return. To get the money back customers are required to provide their Social Security number."
http://www.nbcnews.com/business/tax...fers-rebate-downsized-turbotax-deluxe-n292041
Click to expand...
 
Just got an email saying I will get a free upgrade to whatever version i need to file taxes this year. Not sure if this is an everyone thing or only certain customers.

Blurbage:
You may have heard about the changes we made to our desktop products, both the CD and download versions, including removing support for Schedules C, D, E and F from TurboTax Deluxe. These tax forms are required to report business income, investment and stock sales, and rental property income.

Because you are a loyal TurboTax Advantage member, if while preparing your return, your tax situation requires any of the forms listed above, you will automatically be upgraded for free into the product that's right for you.
 
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