Thursday, April 6, 2017

Tax Season....How to Save a Buck....or Not

I absolutely love our CPA from last year. He's super thorough and initially set up our LLC. However, his firm has grown drastically since then (I'm really happy for that) but there is no secretary just several CPAs. Last year our calls and emails were ignored for weeks at a time and given that its a half hour away its not just a head over and ask whats up.Our taxes weren't filed till June or July. It was bad....and super stressful.

So this year we decided for stresses sake to just go to Liberty Tax. They are $30 cheaper than H+R Block. The whole time I got this vibe that I'm not comfortable with them knowing what they are doing. She has to ask her boss who will call me (and when I call him he's extremely rude to me) who then has to call headquarters. Then they tell me I owe federal taxes because of the business and want me to fill out all these extra papers (they sounded suspiciously like bankruptcy papers). This didn't seem right and by now the feeling is overwhelming so I just take my stuff back.

By now H+R Block wants over $500 to do my taxes (they wouldn't honor their initial quote of $350 because I didn't make an appointment on the spot).

So off to Google we go. I went to the one a mile from home with good Google reviews and an A+ BBB rating. They are FANTASTIC. My taxes didn't faze them at all; and they have a guarantee that if it is in by March 24th it will be filed by the due date.

Took 2 weeks. That's it. And the difference in taxes of what the 2 places found was about $3,000. And it was only $350 to file. So saving $20 almost cost us $3,000. My oh my, thank goodness for gut instinct.

Unfortunately we didn't plan well for self employment taxes and do owe money; thankfully it isn't much and a good lesson to plan ahead for next year.

So....moral of the story plan ahead and don't take the easiest option.

4 comments:

  1. There is nothing like Gut Instinct !!! What a stressful time you have had but now it is sorted. Wishing all the best for the next 12 months.

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    1. thanks! I agree thank God for gut instincts.

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  2. Awesome! I'm glad it worked out! I've heard negative things about Liberty, too. I go to H&R Block also, just because it's easy, and they usually charge me the same about $350. Good thing they tried to force you to pay more, or you wouldn't have gotten the great tax person you did! :)

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    1. So thankful. Seriously have to listen to my gut more. I trust hubby's gut feelings but not my own.

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