Taxes on the Cheap

by GALTime.com

taxhelpIf you haven't done your taxes yet and you're looking for a break, you may just be in luck-and we're not talking about a refund from the IRS. Tax preparers are being hit hard by the economy--and by the surge in do-it-yourself software. (The nation's largest tax giant H&R Block saw its retail business drop 5.7% in fiscal year 2009, although its online business was way up. #2 Jackson Hewitt say a 13% drop.) Experts say tax pros, big and small, are doing whatever they can to bring people in the door …and that means discounts and deals!

Michael Rubin, CPA, CFP of Total Candor Tax Prep says, "We offer every single client a free one-on-one consultation to explain to them a number of things we discover about their financial decision as we go through their returns. That's something a tax software can't do. "

In addition to free consultations, you'll find student discounts and referral bonuses. Rubin says, "Every client who offers us a referral to another client saves 50 dollars on their tax returns, as does the person they refer."

H&R Block offers a new "Best of Both" program. It allows you to save money by doing your taxes online and then, "The tax professional reviews your return, signs it, then electronically files it. If there's any errors or you've missed a deduction, the tax professional can make those changes as well," says H&R Block Master Tax Advisor Elaine Smith.

Look online and you can even find coupons for $20 off or even discounts for the unemployed.

Taxpayer Geneve Hoffman likes the peace of mind of going with a pro, and is happy to cash in on the free consultation she received. She says, "I think any kind of personalized service you can give, whether it be in the form of a discount or any kind of incentive, free advice, half hour consultations at no charge - I think it's great. It's going to distinguish you from the online services, which is just you and the typewriter."

Numerous tax companies are also using social networking like Facebook and Twitter to offer advice.

Of course, if you decide to go it alone, online preparation services and software companies are offering deals, too.

For specific examples of the deals and discounts, click here.

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