npr, but wwyd? tax related - update 2-11

i know, I know, BUT I'm truly looking for feedback here. I need to know if I am overreating or if my DH s just wrong?

So, my mom has done my taxes forever, literally since my first job. she did DH's taxes for him a year or two after we started dating and obvioulsy does them now that we are married.

She is not a CPA, but has he rmasters in accounting and she knows what she is doing. She does a lot of family and friends taxes as well. We've never had problem.

So today DH asks me if I want to take our taxes to someone else to get them done. He seems to think that we are "owed" more money and we'd get back "so much more" if we took it to an accountant. He says this because "all the guys at work get so much back."

Serioulsy, is he right? I mean I know we only have so much we can deduct, so I know we won't get back 10k. I'm happy with the amount we get back.

I feel like it's wrong to just take them somewhere. Where we'd have to pay, my mom never asked for a dime.

What are your thoughts on this?

TIA

So, he went to the acct today. For the sake of argument, we are getting 1K more then we did last year. And of course we have no way of knowing if we'd get the same if my mom did them.

However, when I told my mom that DH was going today, she was hurt. She took it personally and that really hurts me. In the end she said that she knows that DH has to do what's best for him and his family. But the fact that she said she was hurt really upset me. I know she won't hold it over my head, but I don't like hurting my mom.

Thanks all for your advice.

Message edited 2/11/2010 5:18:35 PM.

Re: npr, but wwyd? tax related

Even though she has her masters in accounting, if she doesn't do this for a living she might not know all the deductions you might qualify for. I would at least hear your DH out, and let him find a place that he's comfortable with. See if he would be willing to use your mom again next year if she actually is doing just as good a job as the "professionals."

Re: npr, but wwyd? tax related

I would do both - this one time. Have your mom do them, have a "professional" do them. See what the difference if any is. If there is no difference, next year DH will not want to spend the money, and if the "pro" finds a greater refund, the cost of the tax preparation will most likely be covered.

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

Before I had a house, husband or kids, my grandmother used to do my taxes. She was a bookkeeper for years, and since I didn't itemize on my taxes, they were very straight forward.

Once DH & I bought our house (and began itemizing), we stopped using my grandmother, and she happily understood. We got to an accountant who specializes in teachers (DH is a teacher) who knows all the possible, legit deductions for teachers and overall. We do very well with our tax returns.

I'd go to a professional this year...if you don't see much of a difference, go back to your mom next year. Hopefully she'll understand since it will be saving her time from not having to do them, and I'm sure she'll want you to get back as much as you can!

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

I know this is old, but wanted to say thanks for the input.

I told DH we could go to an acct., but I'm still hurt that he feels like my mom is no longer good enough.

And I do realize that I am taking it personally, but it's hard not to.

So we will go and see what's what.

Thanks again, all.

Re: npr, but wwyd? tax related

FYI...most of your DH's friends who get back alot of money are probably taking them to someone who inflates the expenses. Anyplace can get you more money by inflating expenses and stuff, but when it comes down to it your the person who's responsible for signing them and agreeing that everything on there is correct. There are many places out there that tax advantage of people and will get you a bigger refund now, but if your audited won't stand behing their figures.
Working in the tax field for the past 12 years i've seen it happen alot. That is why the IRS is now trying to crack down on preparers who inflate expenses. I think there was just articles within the past week on it.

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

I'd love to know how it turns out. We had a similar situation & when we went to a professional versus a relative doing our taxes, the refund was SIGNIFICANTLY higher.

I also liked the separation of not having a relative know what we're making, etc.

Re: npr, but wwyd? tax related

Re: npr, but wwyd? tax related

I'd take to a CPA of DH's choice AND to Mom. See how they are prepared differently with the exact same info to see how you will benefit most, taking into account fees paid to a CPA.

Re: npr, but wwyd? tax related

I use turbotax for my taxes and thus far seems to have worked. It's relatively inexpensive and from what I hear for 90+ percent of people works as well as going to a professional. I've thought about comparing it out one year (having TT do the taxes vs. a pro) and seeing who wins. I think if you have a complex tax situation or own your own business, etc it is probably worth while to go with a pro.

I also second the comment that I wouldn't want a family member (even my parents) all up in my financial business. That may be the real reason your husband wants to go with a pro?

Finally, the reality is that you should aim to not "get back" a lot of money. Since you're better off filling out your W-4 so you get more in your paycheck (and less of a refund) so you can put the money away.

Re: npr, but wwyd? tax related

I would invest in Turbo Tax, do them yourself and also let your mom do them.

Turbotax is super easy..accounts for all deductions out there.

Re: npr, but wwyd? tax related

for years my father did my taxes and i always ended up owing money back to the state... then i switched to a tax guy and got money back instead... they tend to know more of the deductions imo

Re: npr, but wwyd? tax related - update 2-11

bump with update

Re: npr, but wwyd? tax related - update 2-11

I also have my masters in accounting and unless you have a complex situation I'd definitely let your mom do the return....but that's just me.

I would definitely give turbo tax a try on your own, it's free and really straight forward.

Message edited 2/11/2010 5:45:12 PM.