Taxes done and filed...yippie!!!

[onewhippedpuppy]

Originally Posted by masraum

I've been using turbo tax since 1997. I also got my mom to start using it. It always works. Most years my stuff is fairly easy, but then I think turbo tax makes it easy.

My accountant wife uses Turbo Tax as well, but it's not idiot proof. Several years ago her aunt and uncle were disappointed with a small return after using Turbo Tax, my wife reviewed the return and found they had missed the child tax credit as well as several others. Make something idiot proof, they make a better idiot.

[KFC911]

Originally Posted by masraum

I've been using turbo tax since 1997. I also got my mom to start using it. It always works. Most years my stuff is fairly easy, but then I think turbo tax makes it easy.

Similar story here (can't remember the exact year, but about that time). Parents' continued to use their accountant until he "dropped" the ball due to health reasons 3 years ago...I took over at the last minute via TT. Saves several hundred $ for them and the process is just simply "better" (and easier for them) with me doing it via TT.

Originally Posted by onewhippedpuppy

My accountant wife uses Turbo Tax as well, but it's not idiot proof. Several years ago her aunt and uncle were disappointed with a small return after using Turbo Tax, my wife reviewed the return and found they had missed the child tax credit as well as several others. Make something idiot proof, they make a better idiot.

Two way street....neice was using H&R many years ago...convinced her to "redo" via TT...guess what . My parents' acct. simply "misinterpreted" an Energy Credit about 7-8 years ago, which "I" questioned when they told me about it. I pulled up the IRS code and reinstated it (accountant agreed with me when I explained his error)...that was around a 5K deduction as I recall. I doubt seriously if many accountants stay on top of the annual IRS changes like TT does, but like ANY approach...it's GIGO no matter what you use .

[onewhippedpuppy]

Originally Posted by KC911

Two way street....neice was using H&R many years ago...convinced her to "redo" via TT...guess what . My parents' acct. simply "misinterpreted" an Energy Credit about 7-8 years ago, which "I" questioned when they told me about it. I pulled up the IRS code and reinstated it (accountant agreed with me when I explained his error)...that was around a 5K deduction as I recall. I doubt seriously if many accountants stay on top of the annual IRS changes like TT does, but like ANY approach...it's GIGO no matter what you use .

One important distinction - H&R Block does not hire accountants. They hire seasonal workers who use a Turbo Tax like program to do your taxes. Big difference from a real accountant that will typically spend a good amount of time each year in training on IRS changes.

[KFC911]

Of course you're correct Matt...didn't meant to imply otherwise, but I reckon I did . My parents' accountant was just "getting up there" and not staying on top of his game. H&R B(s)lock was just a "comfort zone" that my niece had fallen into thinking she couldn't do better herself. Of course I understand when folks with complicated businesses, etc. go that route...makes perfect sense. For lots of Brokerage stuff, I'll pick TT over manual methodology any ol' day.

ps: I don't know how OT has three threads (that I started) near the top of...I reckon I need to go away for awhile or just STFU for a spell

[Wilhelm]

Seems as though most ( or a lot of ) people here think Turbo Tax is a good way to go?
What is the cost of Turbo Tax these days.? I know.... I can look it up...but while I am here I thought I would ask

[herr_oberst]

TT is about 40 bucks on Amazon. I did mine Sunday while stuck inside the house during a weather event. Eesy peesy, but I don't make a lot or have a lot of tricky roadblocks. YMMMV

[Wilhelm]

Originally Posted by herr_oberst

TT is about 40 bucks on Amazon. I did mine Sunday while stuck inside the house during a weather event. Eesy peesy, but I don't make a lot or have a lot of tricky roadblocks. YMMMV

Thanks for the info. My taxes should be a snap for Turbo Tax. Nothing complicated. Income, mortgage interest, not much else I think.

[NYPorsche]

Originally Posted by Wilhelm

Thanks for the info. My taxes should be a snap for Turbo Tax. Nothing complicated. Income, mortgage interest, not much else I think.

Then save yourself the $40 and use the IRS Free Fillable Forms:

Free File: Do Your Federal Taxes for Free

Easy as can be as long as your paperwork is in order. You can add any of the schedules or add-on forms you need and it does the important math for you.

Grab the 1040 instructions (1040i http://www.irs.gov/pub/irs-pdf/i1040gi.pdf - work your way down the 1040 filling in the appropriate info, click through to enter your W-2 and hit submit.

I'm a fairly simple return - st. deduction, child credits and deductions, student loan deduction and a few other small credits here and there. Took all of a half hour. I still had to do a paper copy for NYS, but even with that I was at it less than half an hour. Fed refund in the bank within a week.

[jwasbury]

I am an accountant...haven't even started mine yet. I always owe money, so I don' t rush to get it done. I usually file on the 15th, but last year I was busy so I filed for an extension (1st time I ever did that).

It always makes me laugh how people get so excited about getting a refund. Doesn't everyone realize that when you overpay your taxes and get a refund, you have provided the government an interest-free loan? Owing money is good. Wouldn't you rather have the extra take home pay throughout the year vs. getting a fat refund check?

Oh, and I've used turbo tax for many years. Well worth the investment for DIY tax filing.

[450knotOffice]

My wife and I decided to get our taxes done EARLY this year, rather than our more usual wait-till-the-last-minute mode. We've been using a tax service for years called Pilot-Tax that deals primarily with airline types, so they know the particular tax details of my profession.

We FedEx'd the whole shebang to them yesterday. I'm hoping that since it's so early in the tax filing season, they should be able to get to work on our taxes asap.

Nice to have that chore done with!

[Head416]

I'm still fighting the IRS for the $2,500 they owe me from last year.

[red-beard]

I used Tax-Cut for many years. The problem is, our taxes are more complicated than a program like that can handle. I need someone to review (and fix if needed) our books. I ran the numbers myself a few years back as a comparison. Our account saved us about $5K compared to my efforts. I don't complain about her bill....

Handed in our info today. No need to worry about it. We'll file on the actual date that makes the most sense...Plus, she's probably better rested now than she will be in a couple of months...

[Jrboulder]

Originally Posted by jwasbury

It always makes me laugh how people get so excited about getting a refund. Doesn't everyone realize that when you overpay your taxes and get a refund, you have provided the government an interest-free loan? Owing money is good. Wouldn't you rather have the extra take home pay throughout the year vs. getting a fat refund check?

I've always thought the same thing

[Head416]

One year I owed $6,000 I didn't have... I'd rather have a refund than be in that position again. They can have whatever interest they earned on my $2,500, I would have blown it on beer and whiskey anyway.

[weseeeee]

Taxes will be this weekends project. Not looking forward to it.