When I was going to do my own taxes, I came up with a $500 federal refund and would have owed the state $5 (Oh, Illinois!).
My accountant took the same information and his expert knowledge and came up with some different, much preferable figures:
I’ll be getting a $1,000+ refund from the federal portion and paying $8 to the state. Subtract my accountant’s $90-100 fee, and I’m still coming out far ahead, without any of the headaches.
Networks
16 March 2008 at 10:21 am
I spent about 6 hours collecting paperwork for my taxes. I’m still about 2 days away from sorting through everything.
Our Tax code is so complicated, but it does reward those of us who spend time on it. I wish some version of the FairTax gets passed someday.
25 March 2008 at 4:39 pm
I’m considering doing this also. Right now I owe $1400 for federal (I used TurboTax) and am a bit concerned. Did you use H&R Block, Jackson Hewitt or was it a personal accountant?
Thanks.
25 March 2008 at 9:42 pm
Ashley,
I used a personal accountant–one who was recommended by a couple friends. I’m pretty convinced that he’s extremely honest and fantastic.
(What I didn’t get to post yet was that he only ended up charging me $60, which is $40 less than what he quoted.)
Good luck!