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Tax question
#11
Granny Bear Wrote:If you can use a 1040EZ, I wouldn't bother with an accountant either. However, be sure that you aren't missing out on deductions that you are entitled to take.

Most reputable CPAs will do a long filing for around $100-$250....depending on the amount of deductions and ultimate qualifying documents that you would need to submit.

After everything is said and done, if you don't save more in deductions that you pay an accountant, it's not worth it anyway.....

One more thing. The accountant that I used for years just retired...I loved him!! Anyway, he NEVER filed a tax return early in the year because (according to him and he used to work for the IRS), anyone filing before February 1 went into a "collection" that was used when drawing for random personal audits. He always advised me to file either in late March or early April.....just a tidbit for you!

Smile

Interesting.

Also there's a 2nd reason to file late. If you owe money, filing late allows you to 'pay' less. This happens because of inflation and income growth, as compared to the static number of dollars you owe. The same can be said about letting the government keep your money throughout the year, and then gives it back to you the next spring. It gets an interest free loan for the year, and pays you back in last years dollars, not taking inflation into consideration. you lose money, in simple terms. This can be combatted by increasing your exemptions on your w-4 to a reasonable level to keep the taxes taken out of your check to a low level that will essentially cause a zero balance at years end. Its an instant 3-4% pay raise by doing so, and costs you nothing.
Messages In This Thread
Tax question - by crazytaxidriver - 10-11-2012, 09:55 PM
Tax question - by judgementday - 10-12-2012, 08:28 AM
Tax question - by crazytaxidriver - 10-12-2012, 10:07 AM
Tax question - by crazytaxidriver - 10-12-2012, 10:08 AM
Tax question - by Granny Bear - 10-12-2012, 10:17 AM
Tax question - by crazytaxidriver - 10-12-2012, 10:23 AM
Tax question - by ronald reagan - 10-12-2012, 10:25 AM
Tax question - by Granny Bear - 10-12-2012, 10:29 AM
Tax question - by crazytaxidriver - 10-12-2012, 10:34 AM
Tax question - by crazytaxidriver - 10-12-2012, 10:35 AM
Tax question - by ronald reagan - 10-12-2012, 10:38 AM
Tax question - by crazytaxidriver - 10-12-2012, 10:41 AM
Tax question - by Granny Bear - 10-12-2012, 10:42 AM
Tax question - by Granny Bear - 10-12-2012, 10:45 AM
Tax question - by Granny Bear - 10-12-2012, 10:46 AM
Tax question - by TheRealVille - 10-12-2012, 10:48 AM
Tax question - by crazytaxidriver - 10-12-2012, 10:48 AM
Tax question - by Granny Bear - 10-12-2012, 10:52 AM
Tax question - by Granny Bear - 10-12-2012, 10:55 AM
Tax question - by TheRealVille - 10-12-2012, 10:55 AM
Tax question - by WideRight05 - 10-12-2012, 11:04 AM
Tax question - by crazytaxidriver - 10-12-2012, 11:05 AM
Tax question - by Granny Bear - 10-12-2012, 11:12 AM
Tax question - by RunItUpTheGut - 10-12-2012, 11:53 AM
Tax question - by crazytaxidriver - 10-12-2012, 12:49 PM
Tax question - by TheRealVille - 10-12-2012, 12:59 PM
Tax question - by WideMiddle03 - 10-12-2012, 01:02 PM
Tax question - by crazytaxidriver - 10-12-2012, 04:32 PM
Tax question - by ronald reagan - 10-12-2012, 04:55 PM
Tax question - by vector - 10-12-2012, 06:24 PM
Tax question - by nky - 10-12-2012, 09:26 PM
Tax question - by TheRealVille - 10-12-2012, 10:16 PM
Tax question - by ronald reagan - 10-12-2012, 10:24 PM
Tax question - by RunItUpTheGut - 10-13-2012, 12:20 AM
Tax question - by crazytaxidriver - 10-13-2012, 02:02 AM
Tax question - by crazytaxidriver - 10-13-2012, 02:03 AM
Tax question - by vector - 10-13-2012, 06:41 AM
Tax question - by Hoot Gibson - 10-13-2012, 09:37 AM
Tax question - by TheRealThing - 10-13-2012, 11:42 AM
Tax question - by ronald reagan - 10-13-2012, 12:33 PM
Tax question - by ronald reagan - 10-13-2012, 12:36 PM
Tax question - by Harry Rex Vonner - 10-13-2012, 01:00 PM
Tax question - by TheRealThing - 10-13-2012, 02:26 PM
Tax question - by WideMiddle03 - 10-13-2012, 04:35 PM
Tax question - by TheRealThing - 10-13-2012, 04:39 PM
Tax question - by ronald reagan - 10-13-2012, 11:02 PM
Tax question - by vector - 10-14-2012, 07:26 AM
Tax question - by Bob Seger - 10-14-2012, 09:01 AM
Tax question - by vector - 10-14-2012, 09:06 AM
Tax question - by Bob Seger - 10-14-2012, 09:58 AM
Tax question - by vector - 10-14-2012, 10:35 AM
Tax question - by ronald reagan - 10-14-2012, 10:48 AM
Tax question - by ronald reagan - 10-14-2012, 10:50 AM
Tax question - by vector - 10-14-2012, 11:00 AM
Tax question - by Harry Rex Vonner - 10-14-2012, 11:17 AM
Tax question - by ronald reagan - 10-14-2012, 11:28 AM
Tax question - by TheRealThing - 10-14-2012, 01:50 PM
Tax question - by Bob Seger - 10-14-2012, 02:45 PM
Tax question - by TheRealVille - 10-14-2012, 07:56 PM
Tax question - by TheRealThing - 10-14-2012, 10:03 PM
Tax question - by Hoot Gibson - 10-14-2012, 10:09 PM
Tax question - by ronald reagan - 10-14-2012, 11:13 PM
Tax question - by ronald reagan - 10-14-2012, 11:15 PM
Tax question - by Wildcatk23 - 10-14-2012, 11:47 PM
Tax question - by TheRealVille - 10-15-2012, 06:04 PM
Tax question - by Hoot Gibson - 10-15-2012, 07:02 PM
Tax question - by jetpilot - 10-15-2012, 07:09 PM
Tax question - by WideRight05 - 10-15-2012, 07:47 PM
Tax question - by jetpilot - 10-15-2012, 10:56 PM
Tax question - by WideRight05 - 10-15-2012, 11:06 PM
Tax question - by jetpilot - 10-15-2012, 11:11 PM

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