Reply to Is anyone else scared of doing their taxes for 2012?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I prefer getting a refund as I'm far more responsible with a lump sum than receiving the extra across the year. The exception is DC "State" tax...I hate that the previous years tax refund is treated as income so I am hoping to break even there.[/quote]

That is not legal as far as I know. Isn't that double taxation?[/quote]
It's not. If you paid $10K of state income tax in 2011, deducted that amount from your 2011 income for federal tax purposes and then it turned out that you only owed the state 9K, you receive 1K back. And then since you deducted 10K in 2011, you need to report this 1K refund as additional income in 2012. You overdeducted in 2011, so you are just adding it back in 2012.

I'm a CPA and have an idea that I need someone's thoughts on. If you prefer to prepare taxes at home, but feel anxious and not so well informed on the tax laws, would you ever consider inviting a CPA to your home to assist you with preparation of your return and answer all of your questions right there, at your home? I've never heard about such services being provided and don't know whether they could potentially be in demand.[/quote]

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