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Post subject: Do you do your own taxes?
Posted: Fri Jan 22, 2010 9:59 am
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Or have them done by someone?

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Posted: Fri Jan 22, 2010 10:03 am
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I've been using the H&R Block At Home service for a few years now. It's pretty user-friendly. 8)

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Posted: Fri Jan 22, 2010 10:04 am
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I'm a simple Turbo Tax man myself!!


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Posted: Fri Jan 22, 2010 10:26 am
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I know our system is different but I do my own every year except every four or five years I take them to a random accountant. An accountant looking for work will pull out a few tricks for you. Most aren't intrested in doing much at all when their familiar with you. They wont work as hard for the man in the street than they would say ICI or some massive company.

Anyway I tell the accountant to return my tax return and balance sheet to me. I take a good look at it and photocopy it. Basicaly all I do is search for what con's he's pulled. Details of which go in a little book that I use to do the next three or four years of returns.

I got quite a few fiddles amassed now. All perfectly legal and used by chartered accountants.

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Posted: Fri Jan 22, 2010 10:29 am
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I do my own and no computer programs. I've used Tax-Wiz, Quick-Tax and H&R Block. The hand written long form and physically mailing hard copies of all documents is the only way I have found to keep them from threatening me with an audit six months down the road.

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Posted: Fri Jan 22, 2010 11:16 am
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Been doing my own taxes my entire life. I studied at the Hartford Institute Of Accounting in Hartford Conn back in '71-'73 so it would be foolish for me to pay someone else to do my taxes. I do use Turbo Tax and e-file simply because I do not have any complicated situations to deal with. The worst will be switching to my status as retired this past November.

Life is good. 8)


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Posted: Fri Jan 22, 2010 11:38 am
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Don't forget...if you're claiming profit, or losses, from music and have all of your receipts, you can claim deductions such as :


Musical gear, batteries, strings, cords, reeds, drumsticks, business banking and credit card fees, flyers, mailers, ads, website expenses, telephone calls, website maintenance, computers, techs, roadies, drivers, rehearsal space rent, hotels, food, airfare, recording equipment, mics, outboard gear, home studios...and for most musicians listening to music (CDs) and going to a concert is a legit research and development expense and is deductible.


For more info on US returns, see IRS publication 536

Depreciation also falls under section 179 (IRS publication 534).

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Posted: Fri Jan 22, 2010 12:18 pm
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We have ours done every year.

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Posted: Fri Jan 22, 2010 1:00 pm
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I've always done my own taxes..

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Posted: Fri Jan 22, 2010 1:06 pm
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You can't do it wrong with Turbo tax. Just fill in the blanks and answer questions. It does it for you.

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Posted: Fri Jan 22, 2010 2:06 pm
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I've had my mom do it for me :oops: But this year I'm giving it a try myself.


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Posted: Fri Jan 22, 2010 2:11 pm
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We have a guy thats been doing our taxes for over 10 years now. Worth every penny.

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Posted: Fri Jan 22, 2010 2:56 pm
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Warpfield wrote:
We have a guy thats been doing our taxes for over 10 years now. Worth every penny.


+1

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Posted: Fri Jan 22, 2010 5:06 pm
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Owning a business complicates taxes a decent bit and honestly I never cared for the task anyway. So I have an accountant do them for me.

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Posted: Fri Jan 22, 2010 5:07 pm
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russianracehorse wrote:
I've been using the H&R Block At Home service for a few years now. It's pretty user-friendly. 8)


same here, easy to use and never had any issues with mistakes or anything.

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