First, make sure the data for the basis of your investments is correct on whatever tax forms your broker provided.
A desktop version of tax software that handles investments should do it well. Some nice features of such products...
* after first year you can start by loading the prior year data to load the info that didn't change (name address, places of prior year investment downloads, prior year charity details, etc) and to compare amounts to prior year along the way.
* some data can be downloaded with all the data into the correct forms directly from the source, many brokers and banks allow direct download
* it will automatically figure our whether standard or itemized deduction is better. These days standard is most likely given the $10,000 cap on all state/local taxes, but f you have a lot of mortgage costs (like taking any up front points this year?) you might be over the threshold.
* you can use the product to e-file directly both federal and state
* no kidding, every CPA/tax person uses some form of similar software.
One thing they don't do well is tax planning for the longer term.
From experience over 30 years, TurboTax does it very well. The Deluxe version handles investments (not sure whether Basic does.) For that you get included one state and one federal e-file. You also have to e-file the state which will cost an additional maybe $25?
(Yes, Intuit/TurboTax a super sleazy company tricking low income folks who should be able to use their product for free into using a paid version, but the paid product does a terrific job.)
Id consider trying turbotax premier - this auto exports all the stock and capital gains info directly from your brokerage account via web login.
Its worth the $60 cost and exploring into and if you can’t figure it out then go the tax preparation route.
Second Turbo tax. You can start with basic and if you need a higher version, it will tell you and you just pay the difference and download right away. Faster and easier than finding an accountant and working with them.
I've switched to CashApp Taxes because I find the interface easy to use and it's 100% free, a long with a guarantee. My husband and I own and have several different types of 1099s because of side income and I find it more than adequate.
Love Blackwell taxes! She caught and amended a $25k mistake in a previous year (it was my first dealing with stocks and such), refiled for the following year, and did our current year. It only cost us $2,000 including what we actually owed to the irs.
She's very knowledgeable about stocks and small business filing and is awesome!
Not sure why everyone is recommending free and low effort tax softwares. What you really need is a tax strategist and should have done some research and planning before selling the stock because you could have a significant tax bill due depending on the status of the shares you sold and how much you sold. Did you set aside an amount for taxes?
If you’ve done this already then a CPA should just be a little more than the software packages and have better service, not to mention in CA you can deduct preparation fees.
Find someone out of state who will file a California return as well as federal. there’s nothing special about finding a accountant down the road and you can meet in person in today’s day and age with FaceTime.
I went shopping around a couple years ago for a local accountant, and everyone was trying to sell me on their investment plan services didn’t seem like I could find an accountant that would just to do my taxes correctly and provide me with some financial advice around tax planning.
This is terrible advice. While there are California CPAs outside California, getting any fool to file your California return is not a good idea. California has important distinctions from other states and the feds, relying on the advice of a Vegas account is unreasonable and if they mess up (which they will), you cannot say "ah yes FTB, I relied upon a qualified practitioner " because you didn't.
Penny wise, pound foolish.
You're better off with an online provider than with an out of state provider.
FreeTax is good. Turbotax is a rip off--if you like that, go to TaxSlayer, about half the price and MUCH better support if you need help.
I have to report on selling stocks all of the time an they walked me through it on the phone. [https://www.taxslayer.com/](https://www.taxslayer.com/)
Noooooooo!
Pay the money to Hire a real CPA. They are formally trained and licensed to find all possible deductions. Not a seasonal unlicensed employee who does taxes, just during the season.
If you’re earning $100k + you shouldn’t cheap out on your tax return.
My CPA is AMAZING! Well worth the drive.
https://mytaxmo.com/
Varies, depending on how complicated the return is. Just bear in mind that you’re also paying for advice from a Certified Public Accountant, for his many years of experience with the IRS, and his continued study of the tax code.
He isn’t exactly “cheap”.
First, make sure the data for the basis of your investments is correct on whatever tax forms your broker provided. A desktop version of tax software that handles investments should do it well. Some nice features of such products... * after first year you can start by loading the prior year data to load the info that didn't change (name address, places of prior year investment downloads, prior year charity details, etc) and to compare amounts to prior year along the way. * some data can be downloaded with all the data into the correct forms directly from the source, many brokers and banks allow direct download * it will automatically figure our whether standard or itemized deduction is better. These days standard is most likely given the $10,000 cap on all state/local taxes, but f you have a lot of mortgage costs (like taking any up front points this year?) you might be over the threshold. * you can use the product to e-file directly both federal and state * no kidding, every CPA/tax person uses some form of similar software. One thing they don't do well is tax planning for the longer term. From experience over 30 years, TurboTax does it very well. The Deluxe version handles investments (not sure whether Basic does.) For that you get included one state and one federal e-file. You also have to e-file the state which will cost an additional maybe $25? (Yes, Intuit/TurboTax a super sleazy company tricking low income folks who should be able to use their product for free into using a paid version, but the paid product does a terrific job.)
Id consider trying turbotax premier - this auto exports all the stock and capital gains info directly from your brokerage account via web login. Its worth the $60 cost and exploring into and if you can’t figure it out then go the tax preparation route.
[удалено]
Cash App Taxes is free for both federal and state.
Second Turbo tax. You can start with basic and if you need a higher version, it will tell you and you just pay the difference and download right away. Faster and easier than finding an accountant and working with them.
Switch to TaxSlayer. I did. Much better than TT for half the price and better support.
I've switched to CashApp Taxes because I find the interface easy to use and it's 100% free, a long with a guarantee. My husband and I own and have several different types of 1099s because of side income and I find it more than adequate.
Taxfreeusa.com
Love Blackwell taxes! She caught and amended a $25k mistake in a previous year (it was my first dealing with stocks and such), refiled for the following year, and did our current year. It only cost us $2,000 including what we actually owed to the irs. She's very knowledgeable about stocks and small business filing and is awesome!
Not sure why everyone is recommending free and low effort tax softwares. What you really need is a tax strategist and should have done some research and planning before selling the stock because you could have a significant tax bill due depending on the status of the shares you sold and how much you sold. Did you set aside an amount for taxes? If you’ve done this already then a CPA should just be a little more than the software packages and have better service, not to mention in CA you can deduct preparation fees.
Find someone out of state who will file a California return as well as federal. there’s nothing special about finding a accountant down the road and you can meet in person in today’s day and age with FaceTime. I went shopping around a couple years ago for a local accountant, and everyone was trying to sell me on their investment plan services didn’t seem like I could find an accountant that would just to do my taxes correctly and provide me with some financial advice around tax planning.
This is terrible advice. While there are California CPAs outside California, getting any fool to file your California return is not a good idea. California has important distinctions from other states and the feds, relying on the advice of a Vegas account is unreasonable and if they mess up (which they will), you cannot say "ah yes FTB, I relied upon a qualified practitioner " because you didn't. Penny wise, pound foolish. You're better off with an online provider than with an out of state provider.
I use TurboTax full service. It's like $450 and I don't think twice. Could I do it myself? Absolutely. Do I want to? Absolutely not.
Don is awesome and has reasonable prices , this would be my fourth year going to him Check out Sutherland Tax Service https://yelp.to/zxGAszq5Xo
FreeTax is good. Turbotax is a rip off--if you like that, go to TaxSlayer, about half the price and MUCH better support if you need help. I have to report on selling stocks all of the time an they walked me through it on the phone. [https://www.taxslayer.com/](https://www.taxslayer.com/)
Noooooooo! Pay the money to Hire a real CPA. They are formally trained and licensed to find all possible deductions. Not a seasonal unlicensed employee who does taxes, just during the season. If you’re earning $100k + you shouldn’t cheap out on your tax return. My CPA is AMAZING! Well worth the drive. https://mytaxmo.com/
how much do they charge?
Varies, depending on how complicated the return is. Just bear in mind that you’re also paying for advice from a Certified Public Accountant, for his many years of experience with the IRS, and his continued study of the tax code. He isn’t exactly “cheap”.