- Joined
- Apr 22, 2007
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I do my grown kids' taxes using Freetaxusa. The returns are simple and free for me (I live in a no tax state). For my personal return, I use a CPA who charged me $500.00. Since I do 1099 work from multiple employers and W-2 work I think the $500 was well worth it. In addition, my investments, dividends, stock trades, deductions, etc are all handled by my CPA.So this year I did my taxes with freetaxusa. Free federal filing and 15$ per state which becomes 13.5$ when you use the 10% off coupon. Took me about 2-3 hours because I had to input everything myself instead of having it being imported like with turbotax. I liked it and recommend it for people with simple tax returns.
I highly recommend a CPA for those who can afford one; that typically means attending level income above 40th% MGMA. But, if you have no other income besides W-2, minimal investments, no side-business, don't trade much then the online software is just fine. If you are a resident or first year attending then most of you don't need a CPA.
These days the online software for almost everything is so good you can even issue your own 1099 to others for less than $5.00.
For those with 1099 income or a side-business the cost of a CPA is tax deductible as well making the decision a fairly easy one.