TAX season is here, whatchu gonna do, watchu gonna do?

Taxes
#1

Hi PFC gang, I got a question that is more like a poll, what TAX filling services do you use? Do you do them yourself or have a professional do them for you?

As for myself, for the past 8 years I had a S-corp, that in essence required me to have a 3rd party make my Corp taxes and I always had them also do the personal since it was easier, but I had to close the business and now I only have to file personal taxes and wanted to see what are other like minded individuals doing.

  • Turbo TAX
  • Tax Act
  • H&R
  • 3rd Party

0 voters

1 Like
#2

I’ve been self-employed for the past 8 years. I have had my taxes done by an individual and have also done them both using TurboTax and H&R block software.
.
I tend to like TurboTax as its easier uploading / inputting data and a friendlier interface. I also use quickbooks for tracking my expenses so inputting the data is literally a click of the button
.
Its pretty straight forward. I believe if you do Turbotax online, you can input all your data and see any refund or the taxes you owe before you have to pay to file your federal and state.
.
There are different levels of tax preparations (i.e. if you have investment properties, unusual foreign investments or any out of the norm income ) but I generally like the ease of TurboTax
.
Hope this helps !

1 Like
#3

I’ve had the same individual do my taxes for the past 20 years. Honest guy and always felt safe that my taxes were being done properly. I definitely don’t want to battle the IRS. I will say, however, I wonder each year if I could have done better. Lately I’ve had to owe each year which always frustrates me. I’ve considered a Turbotax route but I feel loyal to my tax guy but on the flip side I’m wondering if there are deductions that aren’t being considered that maybe Turbotax would prompt me to think about. I just don’t know if I have the courage to try Turbotax.

1 Like
#4

Turbo tax will allow you to input all of your income , deductions etc and will show you what you would owe or be due from the government or state
.
It’s worth a shot to see how close turbo tax is compared to your tax preparer and see where the differences may come in.
.
Best of Luck !

1 Like
#5

I use a third party because on top of my 9 to 5 job, I own a small bookkeeping company and also do some Airbnb on the side. Too many different things to try to do it myself.

1 Like