links for 2007-03-01
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“Any monkey can put numbers in a box… I highly recommend that everybody at least once sit down with a tax pro and do some tax planning.”
Published on March 1st, 2007 - 6 Comments
Filed under: Spare Change
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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March 1st, 2007 at 10:20 am
tax software has become advanced enough that for the vast majority of people, there is no need in my opinion.
March 2nd, 2007 at 4:34 am
Whenever I’ve tried to talk with an accountant about “tax planning”, they don’t know any more than I do (I already know about 401Ks and Roth IRAs, thanks) or lots of hem and haw (would it make sense for my self-employed wife to incorporate, and if so, what state should she do it in?). We tried last year – it didn’t go well.
At least the tax software doesn’t operate by appointment or cost me $hundreds.
March 2nd, 2007 at 8:06 am
I’ve gotten such disparate results between 2 sessions of taxact and one session of taxcut, that I’m not confident of the tax software. I’m going to a professional this year.
March 2nd, 2007 at 8:13 am
I think a big part of value hinges on who/what you consider a “professional.” Stopping at the local tax prep shop that pops up every spring in your local mall is (in many cases) the same thing as hiring someone some dude off the street with minimal training to run your tax software for you.
March 2nd, 2007 at 2:32 pm
The problem is I think the “tax planning” we’d need is the sort that tax lawyers tend to do, not preparers. The guy we visited last year was a CPA and did a good job with our taxes, but he didn’t want to answer any “planning” questions.
March 2nd, 2007 at 2:55 pm
Right, we’re actually going to a firm that specializes in business and tax law, as well as accounting.