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Originally Posted by Gigi3000
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Maybe i do need a CPA this year to explain this to me? - - - - - - - - .
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Gigi,
There you have it.
If I were you, I would get a CPA, at least for this go-round.
But keep in mind that all CPAs are not created equal. Choose carefully.
I have read the website of the fee-only financial planner you found back in Ohio, Havanich Financial. On her site she lists “Tax reduction strategies and tax-planning” as areas she can address for clients. You might want to talk with her again — or see if she will just recommend a CPA — if your need is not so much long range as it is just needing to feel like you have a clear understanding of what you need to do tax-wise, for now.
Btw, that was a pretty big tax refund you mentioned. Maybe that was unusual for you. But when you go for advice, find out the best way to keep that money for yourself during the year instead of letting the government have it.
Also, I don’t know if this applies, but in some Ohio school districts, a tax is put on earned income only. I guess that is done to keep retired voters’ support for school taxes.
You have a lot on your financial mind right now, and you are being smart to be careful and to ask questions. But, like I said at the beginning of the post, if I were you I would find the right CPA. Go in with your list of questions written down. And if you come across one who is dismissive and does not listen or is condescending about questions, find a different one.
We will always have a CPA. We could wrestle our way through Turbo Tax, I guess, but don’t want to. Besides, I want my CPA’s signature on the return. (But that’s just how I am.)
At this point, I do know how to prepare very carefully for the CPA. But it has been a learning curve — and that’s OK.
Boomer