Have you started getting your official Tax documents yet?
Over the weekend, we got our mortgage statement for taxes. How pathetic that we spent over $14,000 just on interest????? I know it is a tax write off, but I can think of a billion better ways to spend $14,000.
Our taxes are pretty straight forward. House, 2 kids. That pretty much takes care of our deductions. Because of our FSA, our medical expenses don't reach the 7.5% limit. Our charitable donation are small. A little bit on student loans, but again, not much.
I usually do our taxes myself. I have used Turbo Tax for years and I find it easy to navigate and have never had a problem. But now I am debating what to do about our taxes for this year.
Option 1: Continue using Turbo Tax. Cost is about $40-$50, plus electronic filing fee. I have used it before, and it gets the job done.
Option 2: Use one of the "free" programs that are available. I have never really investigated any of these, so I don't know the layout or ease of use.
Option 3: Go to a professional. Not sure of the cost, but if there is more to deduct than I am aware of, the extra refund may be worth the fee.
I am leaning toward Option 2 right now. I know approximately what we have gotten back the past several years, so if the refund isn't in that ball park, I can always revert to Option 1. But if I can save the $50, hey....it is $50!!
I am sort of curious about our state taxes this year. We ended up owing state tax last year (BOOOOO!!!), so we adjusted our withholdings to compensate for that. I think we will get a refund (albeit small), or possibly owe just a bit. But either of those options are better than owing the $500 we did last year.
What do you all do? Are you a DIYer, or do you bring a shoe box full of stuff to someone? If you use someone, how did you find them???