Does my scenario require an accountant?
February 9, 2015 9:09 PM Subscribe
Building on an earlier question I'd like some personalized advice on using an accountant.
I hired an accountant several years back when for many years I was in a weird earning status. The last two years have been more straightforward for me (I have a standard job that issued a W2, I still don't own property, I have a run of the mill retirement account through work I did move in with my BF but would that even matter?). Basically I'm trying to think of reasons why I would need to continue with the accountant services now that I have just a plain old W2. While it was greatly helpful when I had things like quarterly estimated taxes, and he's super professional and easy to work with, now I'm not sure what the benefit is since the flat rate is about $300. Do I need to stay on for some sort of continuity of care, so to speak, or other unforeseen reason that I'm not thinking of? Is it bad form to skip a few years then call on the accountant again if I find myself doing something like buying property?
(Location: USA)
I hired an accountant several years back when for many years I was in a weird earning status. The last two years have been more straightforward for me (I have a standard job that issued a W2, I still don't own property, I have a run of the mill retirement account through work I did move in with my BF but would that even matter?). Basically I'm trying to think of reasons why I would need to continue with the accountant services now that I have just a plain old W2. While it was greatly helpful when I had things like quarterly estimated taxes, and he's super professional and easy to work with, now I'm not sure what the benefit is since the flat rate is about $300. Do I need to stay on for some sort of continuity of care, so to speak, or other unforeseen reason that I'm not thinking of? Is it bad form to skip a few years then call on the accountant again if I find myself doing something like buying property?
(Location: USA)
It sounds like you can file the much simpler 1040A. Is that what you filed last year?
The 1040A is pretty simple to fill out by hand or you can use the free online version of Turbotax. If by hand, use last year's return as a guide to help you this year.
I agree with rabbitrabbit that it is fine to do your own taxes now and return to your accountant in the future if your circumstances become more complex than your are comfortable.
posted by JackFlash at 10:19 PM on February 9, 2015
The 1040A is pretty simple to fill out by hand or you can use the free online version of Turbotax. If by hand, use last year's return as a guide to help you this year.
I agree with rabbitrabbit that it is fine to do your own taxes now and return to your accountant in the future if your circumstances become more complex than your are comfortable.
posted by JackFlash at 10:19 PM on February 9, 2015
We hired an accountant when we had some squirrely taxes, and I'm back to TurboTax now that it's all over.
posted by Ruthless Bunny at 6:13 AM on February 10, 2015
posted by Ruthless Bunny at 6:13 AM on February 10, 2015
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posted by rabbitrabbit at 10:02 PM on February 9, 2015 [1 favorite]