STYLETHREAD -- LET'S TALK SHOP!

rocky · Coach

Taxes

crystal · Kate Spade

i reccommend paying someone to do it for u. i got so much more money back that way, it actually more than paid for itself. seriously, the only way u can get the max back is if u r a professional. the laws change every year & it's impossible for the avg. person to keep up.

Irene · Dooney & Bourke

I got my w-2 last night. I did my taxes last night. I used www.turbotax.com. The federal filing is free.

monica · Kenneth Cole

quote:
Originally posted by: crystal
"i reccommend paying someone to do it for u. i got so much more money back that way, it actually more than paid for itself. seriously, the only way u can get the max back is if u r a professional. the laws change every year & it's impossible for the avg. person to keep up."

i agree w/ crystal.. my accountant costs me $50 and i got my taxes itemized for the first time last year and got 25% more than the previous year.

esquiress · Marc Jacobs

rocky, do you itemize or will you be taking the standard deduction? i'm single and don't own a home so all i have to do is file the 1040EZ form, which is actually pretty easy to fill out. also, there are services like expresstaxrefund.com (i think?) that do them online for you and charge about $50 (i think).

rocky · Coach

I think my situation is pretty straightforward. I don't own a home or anything. I just have a couple deductions for tuition and charity. That's it. I am not sure where an accountant could find anything else to deduct. I am on salary, not a contractor.

carmenb513 · Coach

I always do my own. You can go to irs.gov and it will link you to some free sites. I don't own or have any kids but I deduct student loan interest, rx costs, my work clothes (up to $2,000)

honey · Gucci

i've done them myself for the past 3 years. it's really easy using a site like hr block or turbo tax. they pretty much walk you through it.

rocky · Coach

Wow, really? You can deduct work clothes? gimme details! thats dangerous!

Elle · Hermes

I have an accountant-friend of mine do my taxes (she only charges $35 - a F&F discount

) because I am petrified of being audited. BTW, does anyone know the deadline for employers to mail W-2s? Isn't it January 31st?

Tara · Dooney & Bourke

quote:
Originally posted by: crystal
"i reccommend paying someone to do it for u. i got so much more money back that way, it actually more than paid for itself. seriously, the only way u can get the max back is if u r a professional. the laws change every year & it's impossible for the avg. person to keep up."

Crystal: I have always done my own taxes, but since a made a little money in the stock market this year (yippee!), I was thinking about getting mine done professionally. I don't think I have any reason to itemize though....I don't own a home or anything........????

Tara · Dooney & Bourke

quote:
Originally posted by: LMonet
" Isn't it January 31st?"

LMonet - I am pretty sure you must receive your W2s by Jan31st......so companies need to mail them out a little earlier.

carmenb513 · Coach

Depeinding upon whether you qualify to itemize or not.....you can deduct your work clothes if you can't use them for "ordinary use" But who defines ordinary use?

LexNVA · BCBG

You don't have to receive them by the 31st, they just have to be post marked by the 31st so you might recieve them a few days later

lugojean · Nine West

Doing your own taxes is so much easier than you think, you can always go onto the IRS website for advice or get TurboTax. I think you should try to understand how they're done whether or not you are doing them or paying someone else to do them. You never know if you'll get audited and if you do and you have underpaid you will have to pay, not your accountant. Sorry to say this some accountants will grossly overestimate your deductibles, and unknowingly put you in a defensive position,

better to get one that is honest.

Irene · Dooney & Bourke

As of January 28th, my taxes are filed and my refund is in process. Yeah baby!!!

carmenb513 · Coach

YAAAAH I rene, if you did direct depositit should only take about 1 wk. I'm so pissed one of my w-2's has yet to arrive!!!!!!!!!

Suze · Nine West

quote:
Originally posted by: carmenb513
"Depeinding upon whether you qualify to itemize or not.....you can deduct your work clothes if you can't use them for "ordinary use" But who defines ordinary use?"

I took a bunch of tax classes in law school, and there have been a lot of cases that say you can only deduct them if you couldn't possibly use them for anything other than work (like a uniform or your clothes get ruined when you where them to work).

-- Edited by Suze at 18:22, 2005-01-29

asf · Kate Spade

i do my own taxes with turbotax. sometimes i have to have my dad help me a little (the stock stuff gets a little confusing sometimes - foreign tax and stuff) but it's quick, easy and cheap. the federal is free, then i have to pay to download and submit my ny form.

Joina · Kenneth Cole

I use www.taxxes.com. I did just get my own apartment and was thinking about gettting a real accountant. Anyone know of a good one (cheap also) in NYC?