Have taxes done in simple situation but high burden?

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xNVA70

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xNVA70
Jan 31 12 Comments

Our tax situation seems very simple (no real estate, business, student loans etc) however we owe a lot of tax this year as we moved to highest tax bracket.

Is it worth having taxes done professionally? What value have you seen tax professionals provide in terms of discovering tax breaks? #personalfinance #taxes

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  • Meta
    EIId00

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    EIId00
    the pros use a software too at their end just like turbo tax n hr block. They also make many mistakes, n u ll end up having to double check it urself by doing turbotax or smthn like that. Definitely not worth it imo
    Jan 31 2
  • Intuit
    MiCasa2

    Go to company page Intuit

    MiCasa2
    If you have kids there was an advance paid to you for the child tax credit which comes out of your refund. Other reasons for unexpected refund turning into tax bill or higher tax bill is you changed jobs or you did contract work and your W-4 was sub optimal
    Jan 31 1
    • Intuit
      MiCasa2

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      MiCasa2
      It is not worth going to a tax pro. They overcharge and you don’t get anything more for it. The exception is if you find a shady one willing to lie for you and put their reputation and freedom at risk
      Jan 31
  • Yahoo
    Yahoodi

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    Yahoodi
    I would suggest an experienced tax attorney over a CPA. More expensive for you, but they know the ins and outs more. I had a tax audit situation and the CPA wasn't nearly as effective as when I got a lawyer involved. Only use a lawyer that only does tax cases.
    Jan 31 0
  • Meta
    btyo08

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    btyo08
    I think h&r block used to offer a free tax check service so u can do that and see if you are missing anything
    Jan 31 2
  • If you don’t have other business or farm activities, you aren’t going to find any magic deductions.
    Jan 31 1