Mission Statement..We will work to preserve and enhance our way of life through our homeowners association and provide information to the property owners to accomplish that goal.

Wednesday, April 11, 2012

Since it is time to file....

Today I was reading Bloomberg/Business Week and found an interesting article about tax preparation. The author (who has a lot better income than most of us) decided to have his taxes prepared in four different places to see if there were differences. His income was $431,388 for the year. The numbers represent his combined tax due or refund from state and local income taxes.
Taxslayer online calculated he was to receive a refund of $119,544.00 and charged him $30.00 to prepare the online forms.
H&R Block charged him $400.00 and found he owed $2,387 to the taxing bodies.
Hal Breich charged $400.00 and according to them he had a refund coming in the amount of $469.00.
RBZ charged $1,200 to complete the forms and said he owed $4,544.00.
Can anyone truly doubt there is a serious problem with the system with this kind of desparity when professionals handle the filing? Every year I cringe when I hit the send button on Turbo-Tax, wondering if my friendly IRS associates will be calling. I know I am being honest but if you have been audited as I have you will know it is not enjoyable. I filed a couple days ago so we'll see!
Ken Dillenburg