Tax Time: Should I Try To Help My Parents?
- 2 Comment
Well… I just got TurboTax 2008 and it’ll be the first time that I actually do my taxes by myself. From what my parents told me, they normally pay an accountant about $80-$90 per tax return and it costs even more if one’s got real estate and investments. Since I get the tax software for free, I guess I’ll be saving my parents about $120 if they don’t file for me.
What I want to do is be able to do the taxes for my whole family so they don’t have to spend a load of money on someone to do their taxes when someone at home is fully capable of doing it for them. There is a problem with me wanting to help out because my parents seem to have a really complex management style over their finances, such as trying to avoid paying less taxes and getting a larger refund.
Advantages of an accountant:
- They know how to get you the best tax refund through methods while tax software might not.
- They can know how to FUDGE THE NUMBERS.
- They’ll teach you HOW TO FUDGE THE NUMBERS.
Advantages of tax software:
- It might find something that your accountant missed.
- It is less expensive than a paid professional.
It may seem wiser to consult a financial professional first and learn more about taxes before trying to do them yourself. But since I have very little to file, though I still have to, I’ll just try the software. As for helping my parents, I’ll see how much the accountant can get refunded to my parents and compare it with what I get through TurboTax. If I am close, then maybe I can start helping out next year.
Idea! This is a potential side gig if I can do taxes efficiently and correctly.
Photo credit: ehpien
Related Posts
2 Comments on this post
Trackbacks
-
Sabrina said:
Make sure the tax software is capable of handling their situtation. 2 years ago I tried to use one of those kits but it told me my return was too “complicated”. I had interest, dividends, and misc income. I also had student loan deductions, and business deductions.
Just something to keep in mind
March 1st, 2009 at 9:26 pm -
Simon said:
Yeah, I checked. I got the Premier edition so it covers those financial accounts. Those editions cost a little more just like the accountant charging more if you have all the other financial accounts.
March 1st, 2009 at 11:04 pm
