Poll: Do You Prepare Your Own Income Taxes

[Midwest Player]

I've been preparing my own income taxes since I was 16. I started using tax software around 2005. Do you prepare you own income taxes or hire someone to do them for you.

Note: This poll will not disclose your handle.

[Norm]

Stopped doing my own over 25 years ago. He charges me $1,000/yr. But, I don't like the hassle and I do like having a CPA sign my returns.

[21frogman]

Haven't done mine since 1980. Too much time and annoyance.

[Wave]

Slow week for me next week at the office...good opportunity to get them done.

[Midwest Player]

Stopped doing my own over 25 years ago. He charges me $1,000/yr. But, I don't like the hassle and I do like having a CPA sign my returns.

A $1,000 really doesn't sound too bad. About 25 years ago I went to a CPA about an extraordinary item that I wasn't sure if it was taxable or not. I don't remember what he charged, but it was in the hundreds of dollars and this was just to research an item. Hell, he didn't even do my tax return.

I wonder how much I would have to pay to have a CPA do my return? This year my federal return was 14 pages. The state return was less pages. Didn't they say they were going to reduce your taxes to the size of a post card.

[Wave]

Didn't they say they were going to reduce your taxes to the size of a post card.

That will never happen...regardless of which party is in control. There is way too much $$$ to be made in the form of contrubutions from lobbyists or high $$$ jobs to family members at employers that also employ lobbyists to ever give the taxpayer a significant advantage over the tax collector in the federal tax code.

[LVBear584]

Haven't done mine since 1980. Too much time and annoyance.

I agree with this. The 1980's is about when I stopped doing my own taxes, too, as the taxes got complicated and time-wasting due to starting businesses. Just as I don't change my own oil in my car, I don't prepare my own tax returns.

[Midwest Player]

I wish more folks participated in the poll. Anyway, according to this article about 33% of folks do their own taxes.
https://www.usatoday.com/story/money...lf/1020645001/

[Banker]

Well, I have been doing my own taxes for the past 20 years. This was prompted by frustration by CPAs who would take the information and pass it on to an entry level person using same software that I could use. I ended up spending more time explaining the issues to the CPA to get it done right. I actually enjoy doing it because I learn from doing it.

[SammyBoy]

Well, I have been doing my own taxes for the past 20 years. This was prompted by frustration by CPAs who would take the information and pass it on to an entry level person using same software that I could use. I ended up spending more time explaining the issues to the CPA to get it done right. I actually enjoy doing it because I learn from doing it.

I agree with your observation. I decided to hire my dad's CPA to do my taxes a few years ago. I had pretty much completed everything with Turbo Tax but I was afraid that maybe I had missed something. So I give everything to him and after a week or so one of his minions is calling asking questions and says he is working on my return. When it's finished and we are going over the results they had me getting a smaller return than what I had come out with. In the end, I was right and they made the corrections. They charged me $800. :-(

[21forme]

I have some CPAs in my family. I'll tell you a little secret. They use software, too. It's called LaCerte. It's like Turbotax on steroids and also made by Intuit (which makes Turbotax).

[tomf23]

Yes I do
I've filled as a pro gambler from poker for over a decade
I started doing my won because most accountants didn't even know gambling tax law at all when I would ask them basic questions

With tax software it is so easy I just don't see the value in paying someone to do it for me