Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I've always done my own taxes before, but in 2012, we had a baby, moved but kept both homes and became landlords (rented out our prior home), and a few other more minor things that I've not dealt with previously. And, I'm just plain too busy to even think about it this season! So, is there any harm in just wandering into an H&R Block or Liberty Tax office, or should we seek out someone more specialized to provide more personalized service? I am somewhat concerned that the H&R Block route may have us end up with someone who may not have the experience to get us the best results or who may just be rushing through things to help serve more customers...Thoughts?
I would ask friends and family who own homes (better yet rental property) or businesses for a referral. I would use a CPA. Block is fine for really basic returns, I don't like them for anything more complicated than a 1040A. I've known people who were "tax preparers" for them who were dumber than a bag of rocks.
So, is there any harm in just wandering into an H&R Block or Liberty Tax office... yes.
or should we seek out someone more specialized to provide more personalized service?
Thoughts?
Ask someone local that you have other reason to trust for a recommendation.
WRT to the rental property... focus on this and ask someone at your LL association.
You *do* belong to a local landlords group... don't you?
Your insurance agent or your attorney are other good examples of who to ask.
I also agree to ask those you know, etc. That is how we found ours and we've used her for years. Once we set up our LLC, things became more complicated than I was willing to deal with.
Places like H&R Block and Liberty aren't trained to prepare taxes, they're trained to input data into their respective companies' proprietary versions of TurboTax. While there's nothing inherently wrong with that, they're not going to recognize the things that are specific to your situation that a CPA might.
I agree that finding an accountant with experience in your situation is the best bet. That being said, most of the tax prep places will do a free estimate; so there's really nothing to lose by having them run your numbers and comparing that to what the accountant files for you. If the numbers are right on the money your situation is probably simple enough that you could let them do it in the future if the savings is considerable.
Or if you have time and the idea isn't too intimidating, buy some software and do it yourself. I've done mine using TaxAct for years, and our taxes are fairly complicated due to my wife's involvement with her family's farming operation.
Last edited by duster1979; 01-07-2013 at 04:54 PM..
Reason: spelling
I would use Turbo Tax or TaxAct type software. We have kids, rental property, etc. and have had no issues using those. You will need to do the same prep work for those as you would using an accountant--receipts, documents, etc. so the time involved really isn't really any more and may be less considering you have to go to the office, meet with the preparer, etc. That will actually probably take more time then it would to use Turbo Tax.
I don't really have any local family or friends, but I am active with my HOA, so maybe I'll ask them since they're local residents and board members. I went on Angie's List and did a search, but the only ones with more than 1 review that came up with good ratings are quite far away (about 45 minutes, which could be much more in this area with the traffic).
Quote:
Originally Posted by MrRational
Ask someone local that you have other reason to trust for a recommendation.
WRT to the rental property... focus on this and ask someone at your LL association.
You *do* belong to a local landlords group... don't you?
Your insurance agent or your attorney are other good examples of who to ask.
I do not have an insurance agent, attorney, nor landlords group.
I don't really have any local family or friends...
I do not have an insurance agent, attorney, nor landlords group.
And yet you have a rental property?
Find a landlord association NOW. As in TODAY. search here Go to a couple meetings, talk to them, learn something, pay the admission fee.
Get a copy of their proven lease. Compare it to what you are using.
Ask for their recommendation of a landlord savvy CPA (to set up your books for the Sch E and 4562).
In future years you should be able to manage the forms on your own.
Cross that bridge then.
Places like H&R Block and Liberty aren't trained to prepare taxes, they're trained to input data into their respective companies' proprietary versions of TurboTax. While there's nothing inherently wrong with that, they're not going to recognize the things that are specific to your situation that a CPA might.
I agree with this. I worked at H&R Block as a a receptionist for two tax seasons, and I could tell you horror stories about what went on with people's taxes there. Some of the tax preparers are very good, but you have to know who they are, and you can't go by the bio on the Block website.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
