Tax Prep
 

Our Accoutant of over 30 years is hanging up his shingle. Mary and I need someone to help file our Yearly Taxes. A little more complicated than H & R Block. Any help will be appreciated. Thanks in advance. Len

how difficult? You have an LLC or a C corp? you have software which can summarized your income and expenses? Do you have inventory?

I know that your tax opinion vs your expertise might have you believe you need a high priced accountant, but what what do you think makes the return complicated?

just a finance guy who does some taxes

Im retired for over 14yrs.

Robert Bloom, CPA, used to advertise on here. Not sure if he still does. He might still be in the area.

We still use our CPA back home, but I know someone who uses Bob and is very happy with him.

I can get tax stuff together myself just fine and I know how to handle the RMD/QCD routine, but when it comes time do the actual forms, I want a CPA’s prep and sign-off.

You might want to try to track down Bob Bloom to see if he is a possibility for what you need.

Boomer

Thanks Boomer. We had Chuck in Milwaukee for 30 years.

Get it done for free at AARP in the Villages. Villagestaxaide.com

Buy Turbotax.

Most accountants now just enter your data in a tax program and just do a casual review. No more having to figure out what form to use

I second Turbo Tax that as I do LLC and estate filings with turbo tax, as well as personal with turbo tax cloud.

You can import all kinds of financial transactions directly from your account at most major financial brokerages, so all that tedious stuff can be done by trade or in total. .

finance guy with occasional tax prep guy

Second on the free tax in the villages. Make appointment now, they do fill up.

AARP will not do complicated taxes……call and ask, they will not do if you have K1s.
There is a CPA firm on Wedgewood Lane (down by the Buffalo Daycare) in the Lynn Building. Sorry I can’t recall name.

I would second the recommendation of using TaxAide. I have been a TaxAide counselor for 7 years - good training, good people. Just google Florida TaxAide.

Gwynne Lewis, CPA, LLC
P.O. Box 2470
Belleview, FL 34421
352.877.4186 phone

I’ve used TurboTax for over 20 years. They have different versions for your needs: simple, investments, and if you have a small company. I get the premier version that does investments. In TurboTax, it asks you for your investment broker company, logs you in and captures all the relevant info needed, no need to look at all your 1099 statements. This version also does rentals I think. I just bought my 2021 version for $55 on sale

What did you come up with when you did a GOOGLE?

William O'brien cpa in lady lake 352-750-6168. He is a customer of mine and helps me with my taxes. Great guy and tells it to you straight.

Vote #1 TurboTax, Vote #2 - H&R Block - read bios, pick someone who is an EA (Enrolled Agent).

Taxes
 

Village Tax and Accounting Solutions 352-259-7053. Close to Home Depot.

Note that if you need to do a trust tax return (Form 1041), you also need to buy TurboTax Business for about $105 on Amazon.

Tax Prep
 

First, not all accountants are "high priced". I am a CPA with an active practice.
I get people coming in to me all the time I recommend do their own taxes because they are simple and they would be spending unnecessary money for me to do their return.
Especially with the fact 80% of taxpayers longer itemize.
But there are returns that should be done by someone qualified. These taxpayers have more complex issues - selling property as an example (not their residence) that because of my doing taxes for many years can save the client more money than my fee.
One respondent mentions QCD's-an excellent option for retirees. Using turbotax or HR Block doesn't educate the taxpayer about this option.
As to fees I find that my fee is sometimes the same or lower than HR Block after they added all their extras. And I don't recommend HR Block where you get your taxes prepared by someone with three weeks training. They fill in the boxes but are not proactive in asking questions or suggesting ways to reduce taxes.
I recently had a client - in the villages - running their own business making a fairly good income. My reeommedation was he elect S Corp status for their LLC. He saved $4,500 in social security taxes. Does Turbotax suggest that?

I had my taxes completed by Village Tax and Accounting Solutions located at 918 Rolling Acres Road Lady Lake, FL. Would recommend.

A good CPA is Marshall Hux who is a partner with Haliday, Bair and Hux of Leesburg.
Phone -352-787-3445

Tax Preparation
 

Randy Haynes has been doing our taxes. He's accurate, honest and excellent customer service. You can go to him, or if needed, he'll come to your house.
484-437-4395. RWH Tax Preparation. rwhtaxprep.com

He came up with a list of names and no personal recommendations from people who actually used one of those names. Which is why he came on the forum, for some helpful information about people's experiences with tax preparers.


This is one of the areas where this forum is helpful.

Sounds like OP is looking for a recommendation. Google can do a list of accountants but, can't recommend one based on first-hand experience.

Mrs. Ellen Cronin
(352) 350-1951. In Oxford, FL, just outside TV on 301. Excellent service.

Yes Bob is still doing taxes and has an office on 466A. His practice is currently at capacity thank you.

I use Ellen Cronin as well since my NJ CPA retired last year. She is about $100 higher than I used to pay but I'm happy with her work last year.

She is:
Enrolled to practice before the IRS
Master of Science in Taxation
Certified Senior Adviser
NTPI Fellow

I totally agree. I have Rental property, investments, a side gig, and a regular job. Not sure you can get much more comlicated that that if you are not running your own business. I use Turbotax and it works flawlessly. My wife used to use an outside firm to do her taxes and it was more work than us actually doing our taxes using TurboTax.
The program walks you through everything. I highly recommend it. It is WAY cheaper too.
Ed

That is a very well stated explanation - honest and straightforward and I agree with most of it. I think most fall under the use TurboTax catagory.
I would add that you should know about QCDs because you have seen a fee only financial planner before you retired and done your long term tax planning so you know about Roth Rollovers and QCDs and when to do them. A CPA normally won't do long term tax planning like that, although some do.

I think your most interesting point is about selling rental property as you are SPOT ON. I am actually going to be having that come up in 2026 or 2027, and I am probably going to come see you :) Would love to figure out a way to get around the big Gain I am going to have.
Until then, managing rental property, TurboTax works great.

@Hagger, excellent response and comparison of the difference between tax strategy and tax filing. No disagreement there!

Turbo tax is for tax filing. CPAs are for tax strategy. :bigbow: :ho: :MOJE_whot:

I always assume that the tax strategy has been done, or one does not need the expertise of the CPA to answer questions, for most retirees. And this is a global web site, so I have to generalize, and that's why I asked the questions in the first post. For most non LLC non corporate filings, Turbo tax will do almost anything needed. . .

Also interesting is your response to this particular post. Many here feel the need to post when they professionally disagree with a poster. I have a mental list of professionals here who I read and don't disagree because their expertise is not my expertise, or within my professional experiences. So I very much appreciate your post to highlight the nuances of tax strategy!

So readers, please respect Haggar's posts as professionally a CPA for tax strategy which is always done prior to filing taxes, and not the day prior to filing taxes, as tax filing is just a formal, perfunctory quarterly or annual requirement/process.

I like Haggar!

Mr. Cut Paste & Add......................is this really what the facts state???

:faint:

Just hang on for a few years. After awhile the IRS will do all the work for you. They'll calculate how much you owed for every year you didn't file and make the adjustments for penalty and interest. All you'll have to do then is write the check. They don't charge any tax preparation fees for this service.

According to Putnam Wealth Management (Sept 23 2020), after the Tax Cuts and Jobs Act (TCJA) only 13% itemized and before TCJA 31% itemized. So, the number that the CPA provided for those who don't items ("80% of taxpayers longer itemize) is actually lower than the 87% who don't itemize that Putnam, and other financial sites on the internet, say. :boom:

GOOGLE may not be your friend...do not trust carte blanche. :ohdear:

Read what he posted.....read it slowly before you post. :ohdear::ohdear:

Don't go away.

I love being :boom:'d for no reason.


:1rotfl::1rotfl::1rotfl:

Google, lol, probably because he knows why there is a seniors vs crimes organization for this area. If you don’t do your due diligence researching assistance for tax prep or any other service in The Villages, don’t whine when you get hoodwinked.

That should read 80% no longer itemize.

A point about QCD's. Qualified Charitable Donations. My own financial advisor did not know what a QCD is. I found that many brokers/financial advisors do not know what this is.

For those of you that are not aware of this tax saving device - if you are required to take a Minimum Required Distribution (RMD) AND you give to charity you can only deduct up to six hundred dollars (Married Filing Jointly) on page 1 if you claim a standard deduction. The excess charity does not reduce your taxes. If you give more than six hundred and you have to do a RMD you can distribute money directly from your retirement fund to charities and it will reduce the taxable portion of your RMD. The QCD counts towards your RMD. This can help reduce your Modified Adjusted Gross Income which may affect how much medicare you pay and reduce your tax burden..

:MOJE_whot::MOJE_whot::MOJE_whot:

Several years ago, we were in the TV house at tax time when our longtime, back-home accountant had to retire due to illness.

Because we were already in TV and planned to stay around for longer than usual, we looked for someone to do our taxes in TV.

That was when we found Elizabeth White with Village Tax and Accounting Solutions on Rolling Acres Rd., in the Lady Lake part of TV. We liked her and would have gone back, but we now use a home-based accountant again.

You might want to see if she is still there.

Boomer