Free Ebook.

Enter your email address:

Delivered by FeedBurner

« Free Financial Planning Advice Today | Main | TurboTax Winner Named »

January 15, 2008


Feed You can follow this conversation by subscribing to the comment feed for this post.

Nowadays if you have anything more than a W-2 and a few 1099s it is a good idea to hire a CPA. The tax laws are getting more and more complex every year.

(Full disclosure - I am a CPA.)

Also keep in mind that if you itemize your deductions, you can claim you cost of tax preparation for the prior year. This deduction is subject to the 2% of AGI limitation (meaning you can only claim as a deduction amounts paid over 2% of your AGI (form 1040 lime 38)).

You can take this deduction whether or not you file your own taxes, but the cost of a Tax Pro is generally much higher than the cost of packaged software and therefore more likely to hit the 2% threshold (though unreimburseed job related expenses, and some other expenses also can be included here).

The comments to this entry are closed.

Start a Blog


  • Any information shared on Free Money Finance does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. All posts are © 2005-2012, Free Money Finance.