Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, Feb 25, 2012

Tax Preparation: Learn To Do It Yourself

Filed under: Money — admin @ 12:48 am

On 1/21, Saturday morning, while my daughter was still at Manhattan, KS, I went to an eye doctor for annual eye check. From there I went to Liberty Tax service to have an estimate of cost and the amount either we owe or we have overpaid on our federal tax.

The person serving me talked with Indian accent, punched in numbers into his tax return software, and in less than half an hour came back with the result. I was surprised to see his bill of over $300 for his service and that was after the coupon and discount. Plus, I was disappointed that he has not reduced the amount of tax that we owed. I know there must be some tax loops that I am not aware of and that can open a big door for shrinking tax dollars.

I thanked him and let him know that I would do some research myself to see if I could come up with a better deal. He looked unhappy and told me no matter where I went I wouldn’t get any better deal than this and in fact I should have paid more if without him. He kept talking while I thanked him all the same, and left his empty office.

I know this is the only time when tax preparers get most of their revenue during the whole year. It makes financial sense to maximize one’s profit during tax reason. Still, I can’t see why he charged over $300 for his half an hour work when he even failed to meet my expectation. I am not sure what I have learned from this experience but I think I did a right thing walking out of his office.

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