What is the best way to have your taxes done for you?

Question

We did H+R Block last year and I don't think we maximized our return potential. Does anyone have any suggestions on which route to take.

Answer 1

Do them yourself. It's not all that hard. Probably over 90% of the folks who use the storefront tax prep mills could easily handle their own returns.

Or buy a cheap tax prep software package such as TurboTax, Tax Cut, or Tax Act. They make easy work out of even somewhat complex returns and will cost FAR less than farming out the job to a tax prep mill.

Answer 2

The best route would be to get a CPA to do your taxes for you. However, having a CPA do your taxes is also the most expensive route.

The alternative route would be to learn to do taxes yourself. All the tax franchises (HR, Liberty Tax, Jackson Hewitt) offer 60 hour courses on Federal and State Income Taxes. The cost of tuition is only about $100-200 which is nominal compared to what you will pay in HR Block in the future.

If taking a course at one of the tax franchises isn't an option, I suggest taking it at a Community College. I took the Federal and State Income Tax Course at my community college and it only costed me $80 in tuition and $100 in books.