Monday, February 1, 2016

Tax time of year!

I loved doing my taxes this year! :D
By this time most of us should have all our W-2 and maybe still awaiting the other forms such as 1099 and other deduction paperwork.   

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In 2014 I started working in the financial industry, before that I was working for the government and going to school.  I was gonna be an accountant but after my first class in learning about auditing I knew that wasn't for me.  I NEVER did my own taxes, taxes are BIG SCARY THINGS!! They didn't make sense and I remember as a kid that when dad was doing taxes the girls when shopping. My dad talks about when he finally hired an accountant how good that was for him.  
When Chris and I got hitched, we went to his parents accountant.  That continued for awhile, then after some time we started going to a CPA at H&R block. (NOT just one of the employees.  TRUST ME THERE IS A DIFFERENCE) 

However tax season of 2014 (Jan 2015-April 2015) I got a SUPER crash course on tax forms.  Because of my role at my job I went over taxes, options, etc.  I talked to at least 1-5 tax "professionals" per day that honestly I knew tax stuff better then them.  HOW ON EARTH.  You are a CPA and you aren't sure where to put stuff on a 1040! :) 

By mid Jan, I had learned so much about taxes, I decided to try my hand at doing my own taxes.  I did decide to use Turbo Tax.  Makes filing super quick and easy, and even better they can deposit our refund.  YES I am one of those people I would much rather lend money to the IRS and get it back then having to come up with a balance of how much I will need to pay, so we try to hover around getting back a small return, so we don't have to worry. 
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This year, I entered in all of our info into Turbo Tax and it all looked good, however my itemized deductions and the ones turbo tax had did not equal.  So when money stuff doesn't look right to me, I do ANYTHING POSSIBLE to figure out why! 

I spent the next week or so playing (yes it was playing for me) on the IRS website and got my taxes all figured out with pencil and paper! I really enjoyed it and had many of my finance co workers teasing me! 

I still ended up using Turbo Tax to file, once again, it is quick easy and direct deposit the return. 
If you are looking to do your own taxes here are some AWESOME IRS web links.
Also if you have simple taxes and don't want to pay someone use Turbo Tax.  

CAUTION!! We have used H&R Block in the past, however they charge a TON!!! like first born child's college education! Save your money and go to a CPA (most charge at least in Utah between $90-$150) or do them on your own! 

The IRS website is a great tool!! 


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