How much do you pay for tax preparation?

[Anonymous]

I'm self employed and have a CPA in the midwest who does my taxes for $300. You can't get someone for that price in DC.

[Anonymous]

I’ve paid anywhere from $700 to $1200.

One year, on a lark, I decided to try and compare the results to Turbo Tax. Came within a penny.

I just do it myself now. I thought ours counted as complicated - but they really aren’t.

- Multiple properties
- Two W2s
- Foreign & domestic investments / tax credits
- Self employed income / 1099 deductions
- 401Ks & SEP-IRA
- K investment disbursements
- Form 83b claims
- ISO and NSO option considerations

With the exception of form 83b which obligates paper filing, it handled it all.

[Anonymous]

Around $1500. 2 business owners, one of which is done through our personal taxes, and 3 states. Somewhat complicated retirement plans that the CPA advises on.

[Anonymous]

$0. Just read the rules!

[Anonymous]

I forget exactly, but it's about $100-150 to do the HR Block online taxes where you fill everything out and then a CPA checks it over and answers questions for you. We have a rental property, but everything else is straightforward. I feel better having a real person I can communicate with (he walked me through depreciation that first rental year), but we don't need an expensive personal CPA.

[Anonymous]

I pay about $60-70 for the turbo tax home business version. I'm self employed, with rentals, investments,etc...I scan all receipts and file them through the year so it'd take less work when filing.

[Anonymous]

Anonymous wrote:I’ve paid anywhere from $700 to $1200.

One year, on a lark, I decided to try and compare the results to Turbo Tax. Came within a penny.

I just do it myself now. I thought ours counted as complicated - but they really aren’t.

- Multiple properties
- Two W2s
- Foreign & domestic investments / tax credits
- Self employed income / 1099 deductions
- 401Ks & SEP-IRA
- K investment disbursements
- Form 83b claims
- ISO and NSO option considerations

With the exception of form 83b which obligates paper filing, it handled it all.

$1-4K “complicated” posters, please read this. You are getting ripped off; TurboTax can handle most situations just fine.

[Anonymous]

We pay about $2500-3000 but our taxes are complicated. Overseas income, income in 4 states, family business income, about fifteen K1s that don't come in until September each year so we always have to file an extension each April. I used to do it myself but it's much better for my time and sanity to spend the $3K each year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’ve paid anywhere from $700 to $1200.

One year, on a lark, I decided to try and compare the results to Turbo Tax. Came within a penny.

I just do it myself now. I thought ours counted as complicated - but they really aren’t.

- Multiple properties
- Two W2s
- Foreign & domestic investments / tax credits
- Self employed income / 1099 deductions
- 401Ks & SEP-IRA
- K investment disbursements
- Form 83b claims
- ISO and NSO option considerations

With the exception of form 83b which obligates paper filing, it handled it all.

$1-4K “complicated” posters, please read this. You are getting ripped off; TurboTax can handle most situations just fine.

I’m one of those. We have:

Rmds
Trust payments
Real estate investments
Overseas investments
A sold business interest this year
A sold rental that we aren’t rolling over into a like kind exchange
A buy out of a different business interest
Income from several (5) states

[Anonymous]

Anonymous wrote:Yoy. I clicked on the thread and landed in the wrong neighborhood.
$50 for turbotax home and business. I just keep answering questions until it says it's done.

Eyup. Same.

[Anonymous]

Accountants use tax software too. TurboTax is really easy, I’d recommend trying it one year.

[Anonymous]

When we were both W2 employees with no outside income we paid $75 for the upgraded turbo tax. Now I’m a partner in a firm paid with distributions (not W2) and my DH has a W2 job but also a lot of 1099 income. Not insanely complicated but more than we want to deal with ourselves.

I believe we paid our accountant $900 last year.

[Anonymous]

We pay around $1000-1200 for the family accountant to do my family and my parents. Not super complicated but there is a small business and rental properties. Having them done by the same person helps with long term financial planning and advice.

[Anonymous]

Anonymous wrote:I pay about $60-70 for the turbo tax home business version. I'm self employed, with rentals, investments,etc...I scan all receipts and file them through the year so it'd take less work when filing.

Same. We are not self employed but have rentals and lots of investments. Its really my DH who does it though - I wouldn't have a clue.