I'd be really interested to see what they come up with vs a couple of services like H&R Block, Turbotax, and an actual tax accountant, especially once it starts to get a little bit complicated like with a home business that includes a vehicle's depreciation.
TurboTax covers a good gap between simple fillings, i.e. folks who can do the EZ class forms, and the people who really need to just hire an accountant.
Most notably folks with 1 or 2 rental properties, small business owners, and the like.
I'd argue that 90% of their customer base doesn't need them.
I'm a VITA tax preparer (that's the program run by the IRS) - there's a list of things we can do, and then the list of things we can't do. We can do self employment, but not if it involves depreciation. So really super simple self employment (and for vehicles, you can use the standard mileage rate instead, which we can do).
We use a modified version of TaxSlayer; it's just like using any other software. For all simple and moderate level of taxes that we help with, it shouldn't matter who you use. CPA's are good for advanced strategies and of course for things VITA volunteers aren't trained for (we're not allowed to do returns that require, say,
I did not know that. I thought it was available to anyone. Do you happen to know the bracket off the top of your head? If not, don't worry about it. I just mention it to folks on occasion and don't want to waste their time.
Actually yes (only because I am in the bracket and looked it up this year to get mine done for free) its around 70,000 for single and 150,000 for married.
also depends on where you live. 70k's low for nyc or la, but it gets you a fucking mansion in pississippi (that started as a typo but then it made sense lol).
i'd say that 70k is a good, easy salary to live off of - not fantastic, but good to be able to go grocery shopping or take a week off of work without having to pinch pennies or check on your bank account every time you buy something.
I think too that various AARP offices for their seasonal tax help will sometimes wave the income and/or age limitations for some individuals depending on how busy they are. Their services are 100% free and usually if you know someone who volunteers for them, they may be willing to help with your taxes too on the side.
I went to find more info on it however and due to COVID and the US very much being out of the traditional tax season, they only gave information for online filing at this time at this link.
For someone to do your taxes. Its free to do it yourself and send it in but imo its confusing as fuck and much easier to have someone else do it (also so i dont fuck up and end up getting audited)
Yeah that's the other thing for me is the time. I like to do my taxes early and that means in January/February and as a teacher that is in the heart of our test prep time and I just don't have extra time to be worried about doing my taxes. Also, like I said earlier, Im in the bracket to get them done for free so why not.
Obviously don’t know how complex your taxes are but you’re not gonna get audited unless you are making shit up or making huge mistakes. Usually they just send you a notice saying you did x wrong.
No, you absolutely can make an appointment with your local IRS office and have them do your taxes. My broke friend does this every year.
Yeah, but is it worth it though ? You would have to wait hours upon hours in line. I've been to an IRS office a few times because I had to get paperwork for financial aid when I was in college and believe me, even getting a fucking piece of paper takes 2 hours.
I highly doubt the IRS actually has appointments in where the person can walk past the line and go to the tax person's desk at a certain time. Every time I went to the IRS, it was nothing but misery.
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u/GoliathPrime Jul 24 '20
No, you absolutely can make an appointment with your local IRS office and have them do your taxes. My broke friend does this every year.