Calling in the pros this tax season
It’s April 15, and that means we’ve reached the end of the first filing season under the new tax code. For a lot of people it’s been an anxiety-filled journey. Uncertainty over the new rules may be one reason that, as of March 1, the IRS had received 2 million fewer returns than at the same time last year. For Evin Moore, of Denver, Colorado, the new tax guidelines combined with some major life milestones made for a more complicated tax filing season for him and his family. So instead of doing his taxes himself, Moore called in a pro.
This year, for the first time, taxes have gotten a little bit more complex with the fact that I’m now, you know, married and have a child.
My name is Evin Moore. I work in financial services and a marketing organization. And I live in Denver, Colorado.
We were really lucky to purchase a house kind of before the giant real estate boom here in Denver. And so we were able to turn that into a rental property. And then you factor that in with — outside of my day job, which, you know, pays the bills, I also run a nonprofit organization. And so taxes have gotten more complicated, which, you know, I guess you’re lucky if taxes get more complicated.
Our biggest goal was to not have a tax bill. And so not knowing how this year was going to go, my wife and I put our deductions to zero. Historically, I’ve always done my taxes on my own using software like a TurboTax. And last year when filing our taxes, I wasn’t confident that I did everything correct. And so this year, we’re actually using a [certified public accountant]. The changes to the tax code was a large factor to us wanting to work with the CPA this year, and then also the the additional life complications. The price was much higher than I anticipated — you know, 70 bucks to being $700. You know, you do have higher expectations.
Now, the tax adviser didn’t give us the the specific as to what it was, but he did say that based on the tax law changes that, you know, we’re likely going to be owing more, which is challenging. I still have a lingering feeling that, you know, maybe I could have done it better on our own, but there’s no real confidence in that.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
