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I need a NoVA tax pro recommendation. I "whoops'd" my taxes.
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Question I need a NoVA tax pro recommendation. I "whoops'd" my taxes. - March 6, 2012, 08:01 PM

Long story short... as it stands, H&R Block online says I owe ~$7500 in Federal taxes. I know tax software aggressively attempts to minimize their risk. I'm hoping a tax pro can help me with deductions and such, stuff maybe I'm not thinking about.

My wife and I have always claimed "X" and "Y" for Fed/State witholding. Always worked for us, since our income hadn't been much in previous years. With our infant/toddler son and low income, we qualified for EIC and Child-Tax credit and always came out with a healthy return of $3k-$5k.

Fast forward to 2011 - we both worked the entire year... our income was substantially higher than past years, and I never bothered checking my witholding rate. Turns out Prince William County Schools took out almost nothing, so instead of getting a refund, we owe ~$7,500. My fault for not checking, I'm not gonna rage against the IRS.

I know I can make payment arrangements with the IRS for $x.xx/mo until paid (up to 60 months)... I'm just wondering if anyone knows a local tax pro (I'm in Woodbridge but would be willing to travel) that knows their stuff and could help alleviate my tax burden, at least somewhat.

Thanks in advance.


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March 6, 2012, 08:04 PM



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March 6, 2012, 08:15 PM

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March 6, 2012, 08:17 PM

Quote:
Originally Posted by McFly View Post
Long story short... as it stands, H&R Block online says I owe ~$7500 in Federal taxes. I know tax software aggressively attempts to minimize their risk. I'm hoping a tax pro can help me with deductions and such, stuff maybe I'm not thinking about.

My wife and I have always claimed "X" and "Y" for Fed/State witholding. Always worked for us, since our income hadn't been much in previous years. With our infant/toddler son and low income, we qualified for EIC and Child-Tax credit and always came out with a healthy return of $3k-$5k.

Fast forward to 2011 - we both worked the entire year... our income was substantially higher than past years, and I never bothered checking my witholding rate. Turns out Prince William County Schools took out almost nothing, so instead of getting a refund, we owe ~$7,500. My fault for not checking, I'm not gonna rage against the IRS.

I know I can make payment arrangements with the IRS for $x.xx/mo until paid (up to 60 months)... I'm just wondering if anyone knows a local tax pro (I'm in Woodbridge but would be willing to travel) that knows their stuff and could help alleviate my tax burden, at least somewhat.

Thanks in advance.

Find an illegal alien with a kid.
Claim them. Give the alien $250-400.
Tax problem solved.

It's a common thing that happens in the Caribbean/West Indian community.



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March 6, 2012, 09:23 PM

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Originally Posted by Heist View Post
Find an illegal alien with a kid.
Claim them. Give the alien $250-400.
Tax problem solved.

It's a common thing that happens in the Caribbean/West Indian community.
I hope your kidding... last thing I'd want to do is lie on my taxes to the tune of several thousand $$$, that shit will bite you hard in the ass sooner or later.


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March 6, 2012, 09:51 PM

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I hope your kidding... last thing I'd want to do is lie on my taxes to the tune of several thousand $$$, that shit will bite you hard in the ass sooner or later.
Agreed. I could just pay the $7500 over several months.... but my thinking is that maybe a tax pro might be worth $200-$300 or whatever they cost... if they can help me lessen my tax burden. Heck, even owing $7000 would be worth their fee. Ideally I'd like to halve the amount I owe... maybe I'm dreaming.

Edit: Legitimately lessen my tax burden is what I'm going for. I'm not gonna claim that I lost $20k while gambling and that I donated another $20k as an anonymous cash donor to a non-profit or church.


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March 6, 2012, 10:51 PM

My folks have been using the same guy for years. I'll get his info for you.

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March 7, 2012, 07:08 AM

Get Turbo Tax... Do it yourself.. Play with the numbers and itemize everything..

shit if your wife made a cake for someone you can write that off as a donation..


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March 7, 2012, 07:12 AM

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Originally Posted by onel0wcubn
Get Turbo Tax... Do it yourself.. Play with the numbers and itemize everything..

shit if your wife made a cake for someone you can write that off as a donation..
Lol


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March 7, 2012, 07:18 AM

^^^ srsly.

Best friends wife been a CPA for years.. shes taught me a thing or two in the tax business...


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March 7, 2012, 07:22 AM

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Get Turbo Tax... Do it yourself.. Play with the numbers and itemize everything..

shit if your wife made a cake for someone you can write that off as a donation..
Thats what I did when I was 1099'd for years. I would write off everything! My underwear, even my computer and motorcycle.





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March 7, 2012, 07:52 AM

Quote:
Originally Posted by onel0wcubn View Post
Get Turbo Tax... Do it yourself.. Play with the numbers and itemize everything..

shit if your wife made a cake for someone you can write that off as a donation..
Cuban, I tried "playing" with numbers to see how it would affect my tax obligation... incl. donation of goods to Salvation Army, using a % of my townhome for telework, unreimbursed parking fees, new suits/clothes for business, and even the purchase of my motorcycle/gear as a "hobby". My tax burden went down to about $3,000 (from $7,500)... trick is I don't have receipts (other than motorcycle/gear purchase) to back up my story. Not sure what triggers red flags for an audit or not...


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March 7, 2012, 07:53 AM

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My folks have been using the same guy for years. I'll get his info for you.

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Thanks.


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March 7, 2012, 08:02 AM

pm sent..


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March 7, 2012, 08:11 AM

Quote:
Originally Posted by McFly View Post
Long story short... as it stands, H&R Block online says I owe ~$7500 in Federal taxes. I know tax software aggressively attempts to minimize their risk. I'm hoping a tax pro can help me with deductions and such, stuff maybe I'm not thinking about.

My wife and I have always claimed "X" and "Y" for Fed/State witholding. Always worked for us, since our income hadn't been much in previous years. With our infant/toddler son and low income, we qualified for EIC and Child-Tax credit and always came out with a healthy return of $3k-$5k.

Fast forward to 2011 - we both worked the entire year... our income was substantially higher than past years, and I never bothered checking my witholding rate. Turns out Prince William County Schools took out almost nothing, so instead of getting a refund, we owe ~$7,500. My fault for not checking, I'm not gonna rage against the IRS.

I know I can make payment arrangements with the IRS for $x.xx/mo until paid (up to 60 months)... I'm just wondering if anyone knows a local tax pro (I'm in Woodbridge but would be willing to travel) that knows their stuff and could help alleviate my tax burden, at least somewhat.

Thanks in advance.

Mollie Galloway, CPA
Dominion Tax
703-492-1199
12614 Lake Ridge Drive
Woodbridge, VA 22192

Tell her that I (Walter Hardeman) refereed you. It will get you a discount on the rate.

She is awesome!!! She is in Lakeridge


Yeah man. Once you start working then each kid counted as 1 and only on one of of your returns regardless of filling jointly or separate.


Things you can claim if you dont already know it.

PLUSES
mortgage interest
Child care expenses
Mileage only if you are a 1099 and that is from you job to a 2nd work site. to/from home can not be deducted
Property taxes on vehicles
student loan interest
Work related classes/exams that you didnt get reimbursed for
alimony (if one of you is paying it)

MINUSES
Interest on bank accounts > $10
401k dipping (unless it was used for a home loan. Very bad to do otherwise)
dividends paid from investments
Alimony (if one of you is receiving it)

Contribute to a FSA (medical and child care)
Contribute to any IRAs if you have them
Max out your 401k (or give till it hurts then back off a little)
All 3 of them will lower you AGI

All i can think of at the moment.

Usually tax donations (shelters, libraries, etc) can go up to about $250-500 YMMV without receipts. Once you start doing suits, basements, etc. You HAVE to be a 1099. If you aren't, a great CPA will not let you do that cause its their ass too. They know the rules and know how to skate around them without raising flags.

Automated software is not the way to go my friend. Get a CPA. Best thing in my life that I did. Only slightly more expensive than TT (the 1040A itemized version)


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