income tax question

[SVT Chic]

I purchased my first home on 12/31/05 so I will for the first time claim my own home in the upcoming tax season. I'm looking for someone local to help with taxes. I've done the H&R block thing and wasn't happy. Any recommendations on what to expect?

 

[itsbob]

I purchased my first home on 12/31/05 so I will for the first time claim my own home in the upcoming tax season. I'm looking for someone local to help with taxes. I've done the H&R block thing and wasn't happy. Any recommendations on what to expect?

Use the Tax software, it will ask you all the necesary questions pertaining to home onership. You do it yourself, you can expedite and get your refund back in just a few days.

 

[buddy999]

I purchased my first home on 12/31/05 so I will for the first time claim my own home in the upcoming tax season. I'm looking for someone local to help with taxes. I've done the H&R block thing and wasn't happy. Any recommendations on what to expect?

If you're in the military, check with Andrews AFB. Over the past few years I've used them. They have trained volunteers who work during tax season preparing returns for active duty and retired military.

Cost to you is $0.00 and they have been a big help. They can also file electronically.

 

[itsbob]

If you're in the military, check with Andrews AFB. Over the past few years I've used them. They have trained volunteers who work during tax season preparing returns for active duty and retired military.

Cost to you is $0.00 but they are a big help. They can also file electronically.

But what if the volunteer is an idiot??

 

[buddy999]

But what if the volunteer is an idiot??

Some of them may be a little slow when working with you but they all use approved IRS software that will highlight an entry when a mistake is made.

I belieave that since they are trained by the IRS they fall under the same guidelines as other tax preparers.

 

[SamSpade]

I purchased my first home on 12/31/05 so I will for the first time claim my own home in the upcoming tax season. I'm looking for someone local to help with taxes. I've done the H&R block thing and wasn't happy. Any recommendations on what to expect?

I worked for H&R Block last tax season, so I hear you - unless you're getting a massive return, have really complex taxes or just don't mind the costs, H&R Block probably isn't for you. Most of our clients were Earned Income Credit folks, often without any bank accounts or reliable means of cashing their checks, whose returns were in the thousands but wanted their money *fast*. When you make 10k a year and you can get 4k in cash, a couple hundred bucks for a return isn't something you balk at.

Get the software; better yet, get *H&R BLOCK'S* software - and file your return electronically. The only thing you really get at the tax places is someone else to blame should you get them wrong - and - *possibly* - some good advice on how to squeeze out a few more bucks or perhaps a possible deduction you hadn't thought of. (For example, last year ALL charitable deductions that were given after Katrina got a little 'boost' in their deductibility - because the government wanted to reward charity for Katrina victims but couldn't penalize everyone else). We also found ways to maximize credit for student loans - found credits in Maryland taxes for things like volunteer firefighting - and so on.

Still, most returns were simple, and the software usually finds this stuff for you. The ONE thing H&R Block DOESN'T like - and they'll charge you if you try it - is to go in with your return and pick their brain for information but refuse to file a return - because it wastes about an hour of our time for nothing. We had people who came in, used the software but just wanted to be sure they got everything. P*ssed ME off, because I got paid nothing to give free advice and wasted my time when I could have been helping someone else, because everything is more or less straight commission.

 

[mkd20012001]

I worked for H&R Block last tax season, so I hear you - unless you're getting a massive return, have really complex taxes or just don't mind the costs, H&R Block probably isn't for you. Most of our clients were Earned Income Credit folks, often without any bank accounts or reliable means of cashing their checks, whose returns were in the thousands but wanted their money *fast*. When you make 10k a year and you can get 4k in cash, a couple hundred bucks for a return isn't something you balk at.

Get the software; better yet, get *H&R BLOCK'S* software - and file your return electronically. The only thing you really get at the tax places is someone else to blame should you get them wrong - and - *possibly* - some good advice on how to squeeze out a few more bucks or perhaps a possible deduction you hadn't thought of. (For example, last year ALL charitable deductions that were given after Katrina got a little 'boost' in their deductibility - because the government wanted to reward charity for Katrina victims but couldn't penalize everyone else). We also found ways to maximize credit for student loans - found credits in Maryland taxes for things like volunteer firefighting - and so on.

Still, most returns were simple, and the software usually finds this stuff for you. The ONE thing H&R Block DOESN'T like - and they'll charge you if you try it - is to go in with your return and pick their brain for information but refuse to file a return - because it wastes about an hour of our time for nothing. We had people who came in, used the software but just wanted to be sure they got everything. P*ssed ME off, because I got paid nothing to give free advice and wasted my time when I could have been helping someone else, because everything is more or less straight commission.

thanks for the good info.

 

[Club'nBabySeals]

I used TurboTax last year (and was in the same boat as a first time homebuyer), and we had no problems at all. The software walks you through everything in detail, and runs checks to ensure it hasn't missed anything.

 

[itsbob]

I used TurboTax last year (and was in the same boat as a first time homebuyer), and we had no problems at all. The software walks you through everything in detail, and runs checks to ensure it hasn't missed anything.

that's my choice as well, I just couldn't remember the name of the software.

 

[Mikeinsmd]

But what if the volunteer is an idiot??

WTOP reported this morning that 60% of taxes prepared by volunteers are done incorrectly.

 

[desertrat]

WTOP reported this morning that 60% of taxes prepared by volunteers are done incorrectly.

I don't understand how anyone could mess up on doing taxes. They are so simple and straightforward.

 

[SamSpade]

I don't understand how anyone could mess up on doing taxes. They are so simple and straightforward.

You're being funny, right? It's one thing when your taxes consist of a W-2 and no deductions. It's another when you own a home office, run a home business and have to add in all of your investments, pensions and calculate depreciation. Some tax returns require a few dozen forms to complete.

 

[SamSpade]

I used TurboTax last year (and was in the same boat as a first time homebuyer), and we had no problems at all. The software walks you through everything in detail, and runs checks to ensure it hasn't missed anything.

It doesn't hurt, however, to keep abreast of the latest tax laws, too. You can get those from the IRS, and some books like the JK Lasser one that comes out every year can help.

The software you buy will look up the most common stuff for you, but it misses stuff, too. A big one for this coming season and the next are a load of energy deductions, which are great if you are already planning to upgrade your water heater, insulate your house, replace your windows or upgrade your heat pump (which we WILL be doing).

I did one last season for a couple where one of them went through bankruptcy - but they were trying to file a joint return. Normally, this would mean any refund the OTHER partner would get would be confiscated - but there's a way to file your return to avoid that, and it's not only legal but it's intended to help those people - but software will miss that.

I'm not stumping for tax preparers - I don't intend to do that again - but there's a lot you can find out that the software won't do for you.

 

[LexiGirl75]

I don't understand how anyone could mess up on doing taxes. They are so simple and straightforward.

That's what I thought too (and I was right).

Bought my home Oct 04 and filed my taxes in Feb 05 myself on efile.com for about $30 then filed my state free on Marylands website.

This past tax season I went back to efile.com and must've figured my federal and state about 50 different ways trying to get out of owing MD $1500.

I decided to call one of the local preparers and found out my fee would be about $60 and decided to let them at it. Turns out I still owed the money to MD. I found another receipt I could write off took it back to the preparer and it only brought it down to just under $1400 but I had to file an amendment plus pay the preparer $55 more.

Lesson, trust the tax software it really can't steer you wrong. Those preparers use the same softwares Turbo or eFile so why not you. Save yourself money by doing it yourself. Especially since the software allows you to toy around with the figures before submitting.

 

[Pete]

I worked for H&R Block last tax season,......Most of our clients were Earned Income Credit folks, often without any bank accounts or reliable means of cashing their checks, whose returns were in the thousands but wanted their money *fast*. When you make 10k a year and you can get 4k in cash, a couple hundred bucks for a return isn't something you balk at.

Aint that some crap. Make $10K a year, no withholding or minimal, and get $4K.

 

[Kain99]

I purchased my first home on 12/31/05 so I will for the first time claim my own home in the upcoming tax season. I'm looking for someone local to help with taxes. I've done the H&R block thing and wasn't happy. Any recommendations on what to expect?

Claiming your home, can only bring good things. Chin up!

 

[desertrat]

You're being funny, right? It's one thing when your taxes consist of a W-2 and no deductions. It's another when you own a home office, run a home business and have to add in all of your investments, pensions and calculate depreciation. Some tax returns require a few dozen forms to complete.

Yeah, that was meant as sarcastic.