If all goes well, by the end of the week, we'll have our taxes done. I like to do taxes in March. April is too late for me, and I had an accounting professor tell me once that all the new IRS temp people "cut their teeth" on the returns that are sent in in February, so you have a better chance of being audited if you file then. Honestly, I very much doubt that there is any truth to that, but I've been doing my taxes during the first two weeks in March for at least ten years, and I'm not going to switch that up now.
Funny thing--I'm an accountant, and I've passed the CPA exam, and yet Eric and I pay around $130-150 each year to have our taxes done. Why you ask? Well, believe it or not, it's all because of a little newlywedded miscommunication.
The first time Eric and I filed our taxes together, I had assumed that (being an accountant and all) I would be doing them. Eric, on the other hand, had assumed that we would be having the Cantwell family CPA do them, just as he had always done. In our assumptions, neither of us had taken the time to spell it out to one another, so one day, when I was all but finished with our taxes but hadn't yet sent them in, Eric came home with them already done. As I looked at what the family CPA had done and compared it to my own work, I found that he had saved us around $500 in taxes from what I had been able to do, which was nearly $400 more than his fee.
Talk about a no-brainer!
I've never done my own taxes since. I do still do all the gathering of forms and receipts, and entering them into the proper categories. I figure if we do get audited, one of us better have a pretty clear understanding of what we turned in, you know? But as to the actual taxes? Well, nowadays, I leave those to the real professionals.
image courtesy of 401(k)2013
5 points for the name of the song
2 points for the name of the musical
other points awarded by whim