Thanks for the positive feedback about the MDTAXES site. I'm glad you find the information on our site helpful.

For 2009, if you'll file jointly with your wife, will max out your 401k plans, and won't itemize your deductions, then I'm not sure what else a tax professional would be able to come up with. Even so, a lot of people appreciate the peace of mind they get by having a CPA or other tax professional prepare their tax returns each year.

For your other questions:

2) How much do accountants cost in the above scenarios?

The fees are usually based on the complexity of the forms to be filed. For a basic return, our intro rate this year is $195. This includes the preparation of your tax forms, being available all year to answer your questions via phone or e-mail, and providing our clients with various newsletters throughout the year.

3) When married, do we both get to deduct $2500 each of student loan interest?

No, married couples can only deduct a combined total of $2500 in student loan interest. And if you file separately, you can't deduct any student loan interest. This is an example of the Marriage Penalty.

4) When married, do we both get to contribute $5000 each of FSA money?

Yes, you and your spouse can each set aside money in your FSA for medical expenses. For dependent care expenses, the amount you can run through your FSA is generally limited to $5k per married couple.

Zip Code: 01801

just remember that you can't deduct your student loan interest once you hit your higher AGI in the next few years...

don't waste money or time on a local accountant until you hit the 500k range or your assets/corporations become more complex....

most local accountants don't understand what we do... or the business of medicine...