GSB Mennonite

Well....I am still doing my own with Turbo T..
(there is an interview mode that is helpful, perhaps you already do that)

I guess I am just prone to "self abuse" in that area.

There are lots of publications at www.irs.gov you can drill down thru in addition to the printed materials at the library (great toilet reading!!)

If I had to handle multiple state returns and maybe municipalities too I would be more compelled to visit a specialist.

Having a business can really get sticky too.

Perhaps the dollar amount or even better...the discomfort level (not knowing all the in's and out's of the subjects) is the best gauge for not going it alone.

Did you eat the cost of E-filing?

I do read a number of the publications and have actually developed most of the forms I file in Excel for the 'what if' scenarios.

I prepared Fed online and then printed for submission. I like the ease of the interview process online and the PDF at the end of the process.

The big hassle this year was state taxes since I needed to file part year in two states and full refund in a third thanks to a mistake by my former employer.

I think it'd be a lot simpler without moving...

This year was a struggle with TurboTax. We had income in two states, some stock options, and a K-1 due to the HBS Student Investment Fund. Hopefully after I graduate I can go back to doing my taxes in just an hour or two with TurboTax...

Just to get a dig in -- I've had my refund in the bank for about 6 weeks now. :)

I file electronically using H&R Block's Taxcut Premium. I've done it for the past two years, so this year it was even easier because it imported a lot of data from last year's file. This year Jamie started a home business and I had no problem working that in. They give you a rebate if you e-file, and another rebate if you buy the state software (which I did). I think I spent about net $35 (including e-filing fees) and it took me about 4 or 5 hours total to do my taxes --and we itemize deductions. All in all, it was quite painless.

Moving is probably causing the bulk of your difficulties.

I'm looking into getting a good accountant due to getting hit by the AMT this year... and a quickly growing business.

Of course, no accountants are taking new clients until May/June due to tax season and taking some time off afterwards. ARg.

Jacob,

Interesting...I might want to look into that soon. And with itemized deductions you can write off the $35 I think.

KC,

Sounds like a good problem to have. ;)

Nope, had to cut a check, but Virginia doesn't have an AMT, so that refund is about 4x my Fed bill.

Well, I've heard a lot of rumblings about the AMT being bumped up a bit, if the guvmint ever gets around to any kind of real tax reform. In the meantime, if you're childless and/or single (I don't know if you are either of those, KC, but if I remember correctly you are at least childless) and making enough to get hit with the AMT, you should be in good shape. Besides, somebody has to foot the bill for people like me who get oodles of cash back simply because we are training the next generation of productive citizens. ;)

Bah. I AM one of those productive people. I have 2 employees (well, 1099's) and looking to get 2 more!

Here are some more details on it:

http://www.turbotax.com/articles/FAQontheAlternativeMinimumTax.html

Therefore, for 2003, you're starting to get hit right around the 60-65k mark.