1. Welcome to Tacoma World!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tacoma discussion topics
    • Communicate privately with other Tacoma owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

Tax Filing Recommendations (Business, Family, Student)

Discussion in 'Off-Topic Discussion' started by jeckel7234, Feb 10, 2013.

  1. Feb 10, 2013 at 6:31 PM
    #1
    jeckel7234

    jeckel7234 [OP] Well-Known Member

    Joined:
    May 12, 2011
    Member:
    #56533
    Messages:
    876
    Gender:
    Male
    First Name:
    Drew
    VA
    Vehicle:
    05 Tacoma
    Add-a-Leaf, Leveling Kit, 31.5 Nitto Grapplers, Mag-Lite Mod, Anit-Key in the ignition beep mod, Tail gate theft mod, Trifecta tonneau cover, washable cabin air filter,
    For the last few years I've been using turbo tax with pretty good luck until last year,I screwed the pooch and ended up owing about 2k. But in 2012 I started a business, only grossed a couple grand, am a full time student, married with a kid and between the wife and I have 4 w-2 from other jobs, and pay for pre school. Do any of y'all have any good recommendations. I feel like h&r block and the other chain type places are full of people who don't really know much more than anyone else and just plug it into a turbo tax type software. And the bank I'm a member of said they'd charge about $300 which seems steap.
     
  2. Feb 10, 2013 at 6:34 PM
    #2
    Haslefre

    Haslefre Well-Known Member

    Joined:
    Jan 27, 2012
    Member:
    #71523
    Messages:
    18,844
    Gender:
    Male
    First Name:
    Brady
    TN
    Vehicle:
    2019 Tundra
    Some flags and center console divider... lots of things on the wanted list.
    I use HR block for piece of mind. I got screwed one year by having some guys on base do it. I will never make that mistake again. I will pay for a "professional" that I can hold accountable for any screw up to do it for me.

    But mine mainly comes from state taxes, not federal. Oregon requires me to file, but I don't pay. I have to have the right thing written on top of the form.
     
  3. Feb 10, 2013 at 7:02 PM
    #3
    Rich91710

    Rich91710 Well-Known Member

    Joined:
    Feb 23, 2012
    Member:
    #73470
    Messages:
    16,331
    Gender:
    Male
    First Name:
    Rich
    Los Angeles
    Vehicle:
    08 Base
    Satoshi with FJ badge, factory cruise, factory intermittent wipers, Redline Tuning hood-lift struts, Hellwig Swaybar, Rosen DVD-Nav
    You are correct on H&R Block, and most "strip mall" tax preparers... they are simply using a business-licensed version of Turbotax, Tax Cut, or whatever software their company uses. The advantage is they accept the liability for mistakes and may offer to represent you in an audit (and home business is a major red flag).

    Your only alternative is to spend the big bucks and use a CPA or other professional tax guy. It won't be cheap, but they will find ANYTHING that you can legitimately deduct, and add a few things that aren't so legitimate, but they know what will and won't trigger an audit.

    I did my own taxes for years, but it got to the point that it was more complex, so I went to H&R Block. I owed $2k to Fed and $600 to state.
    Told them "No thanks" and walked out.
    Went to a guy recommended by a guy I worked with and he was able to work the numbers so I got 2k back from the Fed and owed the state $250.
    Don't know what he did, but we were never audited and he said that if we were, he'd be with us.
    Talked to the guy at work and he said that in 10 years, he was audited once, and Reynaldo was with him and he ended up not having to pay more.

    I started using Turbotax based on my boss's recommendation in 1997 and I've used it ever since. Always been very happy with my results... my final effective tax rate is generally in the 12-15% range, a bit better now that my wife is on disability and only 80% of her income is taxable.
     
  4. Feb 10, 2013 at 7:19 PM
    #4
    jeckel7234

    jeckel7234 [OP] Well-Known Member

    Joined:
    May 12, 2011
    Member:
    #56533
    Messages:
    876
    Gender:
    Male
    First Name:
    Drew
    VA
    Vehicle:
    05 Tacoma
    Add-a-Leaf, Leveling Kit, 31.5 Nitto Grapplers, Mag-Lite Mod, Anit-Key in the ignition beep mod, Tail gate theft mod, Trifecta tonneau cover, washable cabin air filter,
    Thanks for the replies, and I've done a little more reading online about h&r block and the others and most people don't seem very happy with the results
     
  5. Feb 10, 2013 at 7:22 PM
    #5
    jtav2002

    jtav2002 Kenny Fuckin Powers

    Joined:
    Jun 29, 2009
    Member:
    #19074
    Messages:
    4,460
    Gender:
    Male
    First Name:
    Josh
    Reading, PA
    Vehicle:
    2013 Tundra DBL Cab TRD OR
    I use HR Block online. But if you need to see an actual person definitely go to a CPA.
     
  6. Feb 11, 2013 at 5:46 AM
    #6
    Brunes

    Brunes abides.

    Joined:
    May 31, 2008
    Member:
    #7011
    Messages:
    17,562
    Gender:
    Male
    First Name:
    Rotorhead
    Around
    Vehicle:
    08 Red/Graphite and Satin Black
    Inside: Tint, Wet Okole 1/2 Piped Red/Black Covers, Black Weathertech Digital Fit Mats, URD Short Throw w/ TWM Weighted Knob, USA Spec iPod adapter. Outside: 4300K Retro w/ Angel Eyes and Red Shrouds, 5000K Blazer Fog Light Retrofit, Debadge, Bed Locking Handle, Satin Black Rims Performance: TRD/Steigmeier Blower w/ 2.7 Pulley. 668 Injectors and 320 LPH AEM Fuel pump. URD UCON and 7th Injector. DTLT Headers, URD Y-Pipe, Wicked Flow Muffler. Suspension: Both: OME Shocks Front: 886X's and TC UCAs Rear: Dakars Armor: Relentless Front Bumper Relentless High Clearance Rear w/ Tire/Rotopax Swing Out Relentless Front, Mid, and TCase skids BAMF Diff Skid Recovery and Spares: Fullsize Spare Tire 2x2 gal Rotopax 1x1 gal Rotopax 1x1 gal Water Rotopax Warn 9.5XP-S Winch Hi-Lift Extreme 60" Ironman Off-Road Recovery Kit
    Once you say you started a business, I think you need to talk w/ someone to at least get rolling. The first couple years of having a business - Professional CPA type advice will keep you safe. Once the business is established and everything has normalized, than maybe get back to doing it on your own.
     

Products Discussed in

To Top