Do you tackle your own taxes?

I’m now clear for the year! Is it weird that i actually enjoy getting everything organized and then waiting to see how much i won?! haha…There’s just something about recapping the entire last year and having an overall look at how well/worse you did compared to previous years. The fact that we’re “forced” to do it also plays a part i suppose as it’s not like we can just skip a year ;)

The only part i really can’t stand is when you’re patiently waiting for all the w2’s, 1099’s, and all other sorts of forms to roll into the mailbox. It’s frustrating when you’re waiting for that very last piece to the puzzle, and it somehow takes that company an entire month after all the others to send it in! arghhhh…

At any rate, i finally had mine done and i’m getting back almost $4,000!!! I gotta tell you, i’m pretty damn ecstatic too. This is the largest return i’ve EVER received.

I also forgot to mention that i use a CPA to do my dirty work. is that bad? does everyone else around the finance bloggeroo do it themselves? I feel like mine “finds” ways to get me more back each year, so the money i pay her is recouped. Over the past 4 years using her, it’s cost me a total of $700.00 ($195, $195, $155, and $155 respectfully). Wow, that actually looks like a lot seeing it that way!

I can definitely see the benefits of filing your own:
– saving $150+ each year
– learning HOW to do it
– filing at your own leisure.

But, for me, the negatives win over:
– messing up
– not catching ways to save more & giving the gov’t MY money.
– and going to jail

That last one is pretty ridiculous, but it IS indeed a fear i have. Going to jail when you didn’t knowingly do anything bad! *shiver*. Granted there are some shady CPA’s out there, but i trust mine pretty well and so far so good all around.

Who knows though, perhaps i shall read all about this stuff so next year i can do it my self. I’m interested in seeing how many PF’ers out there actually file their own? I guess there’s no harm in at least trying it first, and then shooting it over to my CPA for review right? I’ll put it on my list of “things i should probably do, but don’t feel like doing” this year.

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  1. Lauryn February 19, 2011 at 6:24 PM

    You’re probably like “Why is she answering old -@$$ posts?”

    Well, the answer, is because I need something to look at besides all the receipts as I prepare MY financial statements for taxes – choke.

  2. J. Money February 20, 2011 at 5:15 PM

    Haha, I like it! I’m going through memory lane checking out all these comments you’re leaving ;) Maybe you’ll strike up some more discussion on these oldies since the others was wiped away during our WordPress conversion… so thanks! (and good luck!)

  3. Richard July 18, 2016 at 6:37 PM

    Taxes are my side hustle!! Seriously. Its a part time gig, low overhead, and I earn $75 an hour. There are some costs associated with the gig. I have to pay the IRS and CTEC (California Tax Education Council) annually. There is errors and omissions insurance, paper and ink and a tax software program. There is an annual 20 hour continuing education requirement. All told I clear $50 an hour, and I could charge more. I charge an initial $75, which covers the majority of my returns. Businesses, estates, and people who drop off a box of receipts that takes me 3 hours to organize pay more. It always feels good to help people get more back. And for those that owe, I try to identify the specific reasons so they can plan for future years.

    1. J. Money July 19, 2016 at 9:20 AM

      Awesome, dude! Never bad when you can make some extra $$$ by providing value to the world – love it :)