Do Your Own Taxes or Go Pro?

By
Real Estate Services with FM Properties

 Yes... its that time again and I am in a dilemma. After spending almost $500 last year to have an accountant do our taxes for us I am considering doing them myself. I could not see where he saved us that amount and for me right now, $500 is enough motivation to file on my own.  

  •  I am wondering how many of you real estate professionals file on your own our use help. Why do you do it the way you do it?
  • If you do file on your own, what software do you use?
  • I am really leaning to filing on my own, am I crazy?

I would appreciate any advice on this. I know what my CPA will say but of course that is where he makes his money and would advise me to use his services. Thanks for you input and good luck in your own tax battle this year!

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Comments 14 New Comment

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Rainer
131,525
Susan Trombley
Broker/Realtor, Raleigh, Cary, Wake Forest, Youngsville
Trombley Real Estate

Jeff,

I did understand what you were ranting about and I was trying to say not all are CPA's just like not all of us are Realtors (some are just part timers giving us a bad name).

Yes the key is finding the right person. I would think your CPA would recommend you be an s corp min. and after you grow show you what else is out there. This is the communication that I am talking about. Kim helps me with everything that is needed to be filed each year to maintain my s corp. I have put in a call to Kim to see if she knows anything about ID. I know she knows about Nevada and Delaware, so she is just not stuck in NC. 

 

Anyway. I hope you have a very Happy New Year. I was really trying to help you to know if you have an excellent CPA or not. You are correct. It does matter. 

January 02, 2008 04:20 PM
Rainer
51,762
Linda Box Taylor
Your Plano, TX Realtor
Castle Connections Realty
I turn to a pro for my taxes.  I don't trust doing my taxes myself.  Too many tax laws change and I like having a CPA taking care of me.  But I do pay for it!  It costs alot more than Turbo Tax but its worth my peace of mind. 
January 02, 2008 04:26 PM
Rainer
42,925
Jeff Fullmer
Real Estate Investor/Financier
FM Properties
Thanks Susan, oh I know my last CPA was not the greatest. He quit his firm and so I was hung out to dry without my tax pro. So that was another reason to just hunker down and do it myself.
January 02, 2008 04:27 PM
Rainer
131,525
Susan Trombley
Broker/Realtor, Raleigh, Cary, Wake Forest, Youngsville
Trombley Real Estate
Jeff, I totally understand loosing someone that you trusted. You can find Kim Bryant on AR. I invited her and she only blogged once, but all of her contact information is here with AR. Call and check her out. What do you have to loose?
January 02, 2008 06:42 PM
Rainer
42,925
Jeff Fullmer
Real Estate Investor/Financier
FM Properties
Thanks Susan!
January 02, 2008 07:01 PM
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Rainer
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Jeff Fullmer

Real Estate Investor/Financier
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