Do it myself or rely on an expert for tax return dilemna

[synthesis]

Do it myself or rely on an expert for tax return dilemma 16>27

Hello all! Blessings on all of you who take the time to read these posts with the aim of helping others. And thanks to anyone who can find the time to help shed light on my quandary by April 15th

My husband usually files taxes for us here in the U.S. using a software package. He claims that, based on his process, we owe thousands of dollars, and attributes it to a pre-tax deduction that I get every year through my employer for medical expenses and childcare.

This makes no sense to me because (a) having researched this on the internet, there is NO evidence that you get dinged at the end of the year based on this pre-tax benefit, and (b) the amount I set aside last year is less than half of what I usually do, yet our tax payment is much bigger.

I am tempted to go through the software myself to see if I get a different total but am totally ignorant in this area...plus we have only a week before taxes are due.

The easy route is to hire a professional, which will cost a few hundred dollars. But then I run the risk that it will come out the same anyway, except that I will have spent a few hundred dollars!

So I asked, "With regard to resolving this tax issue, should I try to take it on myself or just hire someone to do our taxes?" Sorry, I know that is not ideally phrased, but it really comes down to whether what I want to do puts my beyond my capabilities

The result was Hex 16 changing to 27, or Enthusiasm changing to Nourishment. I want to believe that this means that I must muster the enthusiasm to solve this and in this way take care of the family purse. But 16 usually involves inspiring others, doesn't it?

In any case, any thoughts or insight is appreciated.

 

[iams girl]

Do it myself or rely on an expert for tax return dilemma 16>27

Hi Synthesis,

16.1.4.6>27 Your thoughts may have merit, however I see 16 in general as managing enthusiasm appropriately. Imo, 16.4 indicates hiring someone might be best for an objective look at things and from which both of you might benefit. I'd see lines 16.1 and 16.6 as warning to remain sensitive and keep things win-win vs. win-lose between you and your husband. 27, to me, is you reap what you sow which hopefully means an outcome you can both celebrate .

 

[sooo]

How do you eat an elephant? One bite at a time.

I'm probably the last person in the world to offer tax advice, however your husband's reasoning does make sense to me. Not suggesting it's the only reason you are in the red this year necessarily, but it seems reasonable that you can't consume the same deduction twice: a pre-credit and then again as a deduction at the end. Questions you may ask yourself might pertain to the specifics involved: amounts of pre-credit (the tax law allowances and other factors which may have changed this year), compare amounts spent on daycare, has your taxable income increased, has health care laws, costs and/or coverages changed, etc?

I see no harm in you and your husband walking through the process step by step again together (with cool heads), and if you do decide to retain the help of a tax consultant, perhaps he or she can just answer a couple of definitive questions, if you still have them when you're through, rather than handing over the entire elephant to deal with.

 

[sooo]

Again, don't take what I say as fact, but I've been told that there's been significant doubletalk on the alleged grace period on being penalized for not opting into Obama-care and choosing to pay the penalty, which people are only finding out about when their taxes are filed this year. I've no idea if that effects your case, but if you've opted out and chose the penalty option, that's the first place I'd look into.