Comments on: Open Thread: How Do You Handle Your Taxes?

By: little bites of fusion » Blog Archive » How Do You Do Your Taxes? [Reader Poll]

Fri, 22 Feb 2008 04:02:03 +0000

[...] If you’ve sampled from the extensive fare of options, hit us up in the comments to share which option worked best for you and why. [via] [...]

By: How Do You Do Your Taxes? [Reader Poll] · TechBlogger

How Do You Do Your Taxes? [Reader Poll] · TechBlogger — Fri, 22 Feb 2008 03:48:44 +0000

[...] If you’ve sampled from the extensive fare of options, hit us up in the comments to share which option worked best for you and why. [via] [...]

By: Michael

Michael — Thu, 21 Feb 2008 22:20:13 +0000

Turbotax. I have tons of deductions, but Turbotax made it very easy (and cheap!)

It improves every year.

By: Andrew

Andrew — Thu, 21 Feb 2008 15:32:47 +0000

Last year I just used H&R Block’s online service. I’m going to attempt the same thing this year, but I’m not sure what I’ll do next year. Do you guys file yearly or quarterly estimated taxes?

By: David

David — Thu, 21 Feb 2008 14:27:47 +0000

The time I save having a CPA do my taxes more than makes up for his fees. Like mentioned before I used to labor for days on my own taxes and was never quite sure I dotted every i, crossed every t nor caught every deduction. If time is money a CPA is the way to go.

To keep my finances in order over the course of the year I use a combo of Quickbook for expenses and Freshbooks for invoicing. Hate Quickbooks but for a small biz it is a necessary evil.

By: mike

mike — Thu, 21 Feb 2008 13:20:13 +0000

luckily, my wife is a tax accountant. and while my business is just starting up, she’s getting me on the right track to not have any surprises come next april.

planning is the key here, especially if you have many different sources of income.

By: Patia

Patia — Thu, 21 Feb 2008 03:11:07 +0000

I only went freelance in January, and yesterday I met my new accountant for the first time.

I’ve used HR Block for several years, and now that things are getting a little more complicated, I wanted a CPA. I suck at math, and it is SO worth it to me to hand everything over to someone else.

He’s also provided invaluable advice with recent financial decisions I’ve had to make.

By: martha in mobile

martha in mobile — Thu, 21 Feb 2008 02:50:45 +0000

I actually enjoy doing my taxes. Like Logical Extremes above, I keep a folder system throughout the year: personal tax records, business income, business expenses. I’m easily amused, evidently.

By: Ellie

Ellie — Thu, 21 Feb 2008 01:11:07 +0000

I actually have a tax professional do them for me – and have done this for the last 12 years. Works for me!

By: her every cent counts

her every cent counts — Thu, 21 Feb 2008 00:43:42 +0000

I’m trying to figure out how I will do my taxes this year. Last year I used Turbo Tax but it seemed such a waste for something I could have done on my own. With more complicated taxes this year, I might hire a CPA. But it doesn’t seem to make sense for my smallish income. At the moment I’m considering hiring a CPA to teach me how to prepare my own returns, and to get me on top of record-keeping for the current tax year. I figure it’s worth the $$$ if I learn how to do it myself!

By: Thomas Han

Thomas Han — Thu, 21 Feb 2008 00:43:25 +0000

a visit to H&R Block for us

By: Larry

Larry — Wed, 20 Feb 2008 23:45:56 +0000

About ten years ago, I attempted to do my taxes with Turbo-Tax, and it was a disaster. That year the program was buggy as hell, and there were also some tricky changes in the IRS regulations that were being debated in congress right up to the filing season. Since then I’ve had a CPA do my taxes and it pays for itself many times over. When I see that Susanne sets aside 2-3 days….that used to be me, and I hated every minute.
We’ve subsequently moved from a sole proprietorship to a Subchapter-S corp and I now have the CPA do our personal and the corporate taxes, and I have a bookkeeper in twice a month or so to wrestle with QuickBooks.

By: Susanne Bullo

Susanne Bullo — Wed, 20 Feb 2008 22:57:56 +0000

I’ve done my own taxes all my life. In the past, I also did many relatives/friends taxes. When doing your taxes online became available, I jumped on that bandwagon in a hurry. I usually set aside 2-3 days just for taxes and nothing else.

By: Logical Extremes

Logical Extremes — Wed, 20 Feb 2008 22:43:45 +0000

I’ve always done my own taxes. Started using software when it became available, and now do it online. But, every few years, I like to do it manually just to keep up with the changes in laws and procedures. At the beginning of each year, I start a folder for tax records, so when it’s tax time, everything is in one spot. Easy.

By: Tom

Tom — Wed, 20 Feb 2008 22:12:10 +0000

I’m a relative small-fry so I choose to do my taxes myself (w/o TurboTax). The number one thing I can recommend for taxes is a business credit card. Anything you can do to keep business expenses separate from personal expenses pays huge time dividends come April.