What is the name of your state (only U.S. law)? Oklahoma
Ok, I am debating whether or not to use turbo tax (roughly $90) or an accountant (roughly $300) for help with my taxes. Money is tight right now, so I am trying to figure out if using an accountant will result in a break even or gain for me in my return, otherwise I dont know that it would be worth it.
My scenario is this: I have worked for the past year as a contractor and have only made $3000. I have also had another job as an employee. As an employee, I took 0 deductions so I should be getting money back from that even though I am a single guy. As a contractor I have business lines, use my cell phone, have a home office, moving expenses, internet expenses, etc. From reading online I assume my taxes will only be $300 from the $3000 I made, is this correct? If so, will taking more than a $300 loss for the year be beneficial for me? I feel like I can easily find $300 worth of deductions on my own, making a CPA unnecessary, is this true? Any advice anyone can give based on the little facts I have given? Thanks.
Ok, I am debating whether or not to use turbo tax (roughly $90) or an accountant (roughly $300) for help with my taxes. Money is tight right now, so I am trying to figure out if using an accountant will result in a break even or gain for me in my return, otherwise I dont know that it would be worth it.
My scenario is this: I have worked for the past year as a contractor and have only made $3000. I have also had another job as an employee. As an employee, I took 0 deductions so I should be getting money back from that even though I am a single guy. As a contractor I have business lines, use my cell phone, have a home office, moving expenses, internet expenses, etc. From reading online I assume my taxes will only be $300 from the $3000 I made, is this correct? If so, will taking more than a $300 loss for the year be beneficial for me? I feel like I can easily find $300 worth of deductions on my own, making a CPA unnecessary, is this true? Any advice anyone can give based on the little facts I have given? Thanks.