Do you do your own taxes?

[Jim Richards]

I do them every year, using TurboTax as well.

[JackDidley]

Originally Posted by Jim Richards

I do them every year, using TurboTax as well.

+ one.

[wdfifteen]

Originally Posted by Nickshu

6 LLC's and two general partnerships...No way for me!

I love this thread! Is this a great country or what? All these people out on their own, running businesses, living the dream. Congrats to you all.

[Bill Douglas]

Originally Posted by wdfifteen

I love this thread! Is this a great country or what? All these people out on their own, running businesses, living the dream. Congrats to you all.

Great world. I'm a dirty foreigner doing that.

[KFC911]

Originally Posted by Deschodt

The minute you start having a retirement account, IRAs, investments, it become absolutely mind boggling. I wouldn't have the first clue anymore. If anything good comes out of these next 4 years it might be a tax code reform...

Even more reason to use Turbo Tax imo. Been using it almost since it's inception, and switched to the online version many years ago. Now TT will import the data from brokerage accounts and other sources, 401k and IRA type accounts don't enter into the equation really, nor do LLCs. Easy peasy doing taxes for me these days. Might want to take another look....the first year is more difficult since you don't have last years data to carry forward and you have to manually enter your institutions....smooth sailing from then on....YMMV.

[flatbutt]

I used to do my own, first by hand on paper then with Turbo Tax. Then one year I filed on line and got stabbed in the azz big time by a hack. So now a CPA does mine even though my return is fairly simple. For a couple of hundred she handles everything including advising me on stocks and other investments during the year.

[masraum]

Turbo Tax for the past 20 years. Before that, pencil and 1040EZ.

[Brando]

I have a LLC and will use a pro for that, probably do personal taxes once the K1s are done. I very much appreciate the hands off of using a professional whose goal is to save us as much as possible, while providing guidance on how to improve next year.

[KFC911]

Originally Posted by Brando

I have a LLC and will use a pro for that, probably do personal taxes once the K1s are done. I very much appreciate the hands off of using a professional whose goal is to save us as much as possible, while providing guidance on how to improve next year.

I used to have my rentals under LLCs, don't know why you need a pro, particularly if you are the only owner....income just passes through it to your personal taxes. My parents used to use a CPA for theirs, back when energy credits were deductable, and he wasn't up to speed and misinterpreted the IRS code, until I intervened . TT has a GREAT team of pros keeping up with the yearly tax code changes....and does it all imo....including guidance. Now that virtually everything can be imported, I simply can't imagine anyone not using it...YMMV.