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Daycare and Taxes>Who Is Cheaper
kayla 03:20 PM 02-17-2012
Hey all!! got some questions because last year i barely got 100 bucks back and everyone said i should have got more because it was my first year,and i had gone to liberty tax. So this year i am wondering if anyone has had good luck at h&r block and how much the cost was to file and the same with jackson hewitt... or is it cheaper to go with an accountant.... Please looking for some advise on where i should go for my taxes??? any help would be greatly appreciated!!
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Michael 10:12 PM 02-17-2012
I found I got more back when I paid more for a better accountant.
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itlw8 07:11 AM 02-18-2012
I woud not go for cheaper as the deciding factor. Most of those store front preparers do not understand family childcare business taxes. You would do better doing them yourself in most cases than choose them.
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GretasLittleFriends 03:18 PM 02-18-2012
I agree with previous posters. You may pay more for a CPA, but they are paid for their knowledge. I am also a firm believer in "you get what you pay for" and believe me I like my money and don't want to pay more than necessary.
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wdmmom 09:41 AM 02-20-2012
Most of the people that work for Liberty, H & R Block or Jackson Hewitt are temporary employees that took a quick course on how to key in information.

My husband and I filed separately at H&R Block a few years ago. His cost $325 and mine cost $275.

Last year we went to an actual CPA. Not only did we get more money back but we amended our previous years return to collect an additional $1700. The preparation fee was $225 and the amended return preparation was $100.

Well worth the money!
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DaycareMama 11:26 AM 02-20-2012
I have always done better using an account. I pay $500 but get sooo much more back. Plus they will look at last years return for you
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daycare 11:29 AM 02-20-2012
I agree with all of the PP.

One year I went to HR block, because I had just moved to a new city and didn't really have time to seek out an accountant. HR block had NO clue how to do DC taxes and told me I would have to pay about $3200.00 in taxes.

I talked to one of my DCP about who they used, and I went to their CPA, paid $375.00 and got back $800.00

Avoid commercial companies to do your daycare taxes.
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MrsB 08:58 AM 02-22-2012
One of my first years, I took it to a tax preparing office that didnt specialize in daycare businesses. They told me I couldn't claim my personal furniture and things under depriaciable expenses because I would have needed them anyway for personal use. It was miserable. After it was filed, I ended up taking it to someone else who had a background in family childcare businesses. I only paid $150 more and after they amended my return, I got an extra $2000 back. I firmly believe that is what opened me up for an audit. After the audit came through, the IRS actually owed me more money!
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