My taxes for 2007 are going to be a total nightmare. I tried to figure them out on TurboTax a few months ago before getting my official W2s, but I’m afraid I’m missing major deductions that I should be taking (or taking deductions I shouldn’t be taking).
That has led me to seek out a CPA. So far the one who has written back to me charges $155 an hour with a two hour minimum. Eeks. And I thought $80 for TurboTax was pricey.
While $310 for an accountant to do my taxes won’t be the end of the world, it still sucks. I feel like I should be able to figure out taxes for myself given that my overall earnings for the year was less than $35k. Unfortunately that $35k came from a bunch of different places.
Meanwhile, my uncle – who I do some small amounts of freelance work for – told me that while he’s not sending me a 1099 form I have to report the earnings. Of course I have to report the income, but I thought that he also had to report the earnings. So I’m a bit confused about this – if he doesn’t report the earnings will I get him in trouble if I report them?
Do you guys think it’s worth $310+ to have someone prepare my tax returns? Or should I just do TurboTax and hope that I don’t majorly mess anything up?