Quote:
Originally Posted by DSE
If it wasn't for Turbotax, however, there is no way I today that I would have time to do my own taxes.
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I agree. I do a lot of stock trading, and it is quite simple to export the trades from Quicken into TurboTax. If I had to do it manually, I would probably have to use a CPA.
One other benefit of doing your own taxes is that I have a much better idea of the tax implications of my financial decisions during the year. I suspect if I had someone else do my taxes, I would not be as tax-savy about financial decisions during the tax year.
Of course, if someone wishes to use a CPA, that may be the best solution for them and their particular situation. But for some, doing your own taxes, rather than using a CPA, makes sense.
As an aside regarding the AMT and the $1,800 Diesel Tax Credit, for 2009 (and I believe 2010) the AMT will not limit the $1,800 credit. This is a change from 2008 and earlier.