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Reply to "How much does a tax accountant cost?"
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[quote=Anonymous][quote=Anonymous]We used to just do our taxes on our own with a computer program, but we've since had kids and opened 529s, and I am wondering if we should splurge on an accountant to make sure that we are getting the [b]biggest return that we can[/b]. How much should I expect to spend to have an accountant do our taxes for us? And how do I find one?[/quote] Biggest REFUND, not return. The return is what you file. If all you've done is have kids and open 529s, I wouldn't spend the money. Just use software. Your contributions to 529s are immaterial for federal tax purposes -- there's no deduction. You might get a very small deduction at the state level, but that's easy enough to claim on TurboTax or the H&R Block software. Either way, it's not going to save you much in tax. Maybe $50 per $1,000 contributed? Assuming you've had two kids, you'll get two more personal exemptions. You may or may not qualify for the child tax credit, depending on your income. Both of those things will be calculated automatically once you enter your kids names and SSN into the software. Do you pay for child care? You might qualify for the dependent care credit. Again, it will ask you for that. You do need to know the tax ID of the provider to claim this. [/quote]
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