Tax Returns
So I'll need to complete our first tax return next year. Alot of people here use turbo tax.
We currently only have one income, are renting, I get medical through the company ....how difficult it is to complete? Thanks Dave |
Re: Tax Returns
Originally Posted by daccs
(Post 11805170)
So I'll need to complete our first tax return next year. Alot of people here use turbo tax.
We currently only have one income, are renting, I get medical through the company ....how difficult it is to complete? Thanks Dave Do you have any investments? |
Re: Tax Returns
Do you have a full year? If so, with no deductions (mortgage interest, student loans, substantial medical expenses, etc.), and no foreign income, such as UK rental income, it is pretty straight forward.
If you have a split year and UK income, it'll be messy - probably too messy for TurboTax or other standard tax software. |
Re: Tax Returns
I use Taxact, and it's free for simple non-itemized returns. Might be worth trying.
https://www.taxact.com/ |
Re: Tax Returns
it will be a split year. We have rent from the UK but its covers the mortgage and insurance, there is nothing left over UK wise!
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Re: Tax Returns
Originally Posted by daccs
(Post 11805184)
it will be a split year. We have rent from the UK but its covers the mortgage and insurance, there is nothing left over UK wise!
The above things alone, never mind the "split year", mean that I would strongly recommend that you go to a tax accountant because there are too many ways to make an error with that many moving parts. |
Re: Tax Returns
thanks Pulaski, I'll start looking around
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Re: Tax Returns
Originally Posted by Pulaski
(Post 11805199)
The above things alone, never mind the "split year", mean that I would strongly recommend that you go to a tax accountant because there are too many ways to make an error with that many moving parts.
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Re: Tax Returns
Your company should supply you with an accountant considering your the reason you moved state side??? unless it was one of those forced deals ;)
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Re: Tax Returns
Originally Posted by daccs
(Post 11805218)
thanks Pulaski, I'll start looking around
Then next year when you have a full year in the US you can decide again whether or not to hire someone or do it yourself. |
Re: Tax Returns
Originally Posted by durham_lad
(Post 11805314)
I would also recommend this for the first year, and I would also take note exactly of what he does, particularly with the UK rental, then try and mimic it with TaxAct or TurboTax. (TaxAct has a free version available but the free version is aimed at simple returns).
Then next year when you have a full year in the US you can decide again whether or not to hire someone or do it yourself. |
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