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Tax Preparation

4ramsey

4ramsey

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For years i have used a tax place that charges me 80 bucks to prepare and E-File my Fed & state return. I'm thinking of doing it myself
this year with Turbo Tax. Has anyone used it and how easy is it? I went to the bank today to get a copy of my 1098 Mortgage interest
statement and everyone at the bank Recommended Turbo Tax. Any input???
 
I've used Turbo Tax for the last 7 years, ever since I sold my semi in 2005. I use the home and business now, because of my side business. I like it because you can play with the numbers to see what helps and what doesn't.

Guardrail
 
I also go to a CPA that always charges me 80 bucks.
There is not a lot of deductions anymore,I guess I could use Turbo Tax as well.
What does it cost to go that way?
 
Apostolic said:
I also go to a CPA that always charges me 80 bucks.
There is not a lot of deductions anymore,I guess I could use Turbo Tax as well.
What does it cost to go that way?
Click to expand...

I checked their site. Its 29 bucks for the Federal. They will take it off your refund if you dont want to use a Credit card. Really all i have for deductions is Mortgage interest
so it shouldnt be that difficult. I dont have plans on watching the Super Bowl so i think i,m going to do it tomorrow nite.
 
Hmmmm. A man doing his taxes instead of watching the Super Bowl????!!! Gonna go to your needlepoint club meeting after that??!!


Just kidding, 4R. Turbo Tax is easy to do. Lots of questions like GR said, but your answers populate the forms. Have ALL your receipts and 10's and W's ready on hand. May take you about an hour the first time.
 
We have used Turbo tax for years---just the basic form as we do not have kids or mortgage interest any more, not much to it at all. The best cost we came across this year was at Sams---$49 then a $10 instant rebate. Takes a short bit the first time, putting your info in, then next year it pops up right away making it easier. Works for us---
 
i'm still behind in technology and the times.

i go to an accountant that i have been a client of for over 30 years. his dad was an accountant as well. this is like a "family" situation where my dad also went to his dad.


my accountant is also a tax lawyer, and as a result, he can answer questions for me, that i cannot. one example is, the house. there are 2 names on the mortgage, and my name is not the name that gets the interest payments listed. so one year, i got a nice letter from the I.R. of S......

they wanted me to answer up and pay a HUGE penalty for using the interest mortgage payments on my tax forms...

the accountant/lawyer sent them a nice letter as well in return....

all is good.......(and has been)

as a "do it your selfer".....and if you NEED to have someone talk for you from any legal stand points.......what will you do..???

at the very least, when you have a professional do your taxes, they are supposed to represent you......

good luck on anyone doing their own taxes....i'll pay a pro the mere $100 per year...and get tax advice, and help, all year long......
 
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I'm a Turbo Tax user and like it fine. As reported above once you use it it imports your data from last year and if nothing has changed it's even easier. What money I don't have buried in the back yard is kept at Fidelity and that data is downloaded straight to my Turbo Tax with the click of a mouse. I really like that feature. Then I just have to add in the massive interest from my checking account and the dividends from the one stock that is in my name. Each year those show up on the Turbo Tax as imported from the previous year and all I have to do is change the number if I don't switch banks. I never tried Tax Act and I'm an old geezer afraid of change so I'll stick with Turbo Tax. OOO BTW if you get TT Deluxe it also comes with your state tax, which you can file on line as well. I do recall some kind of fees if you file online (E-File) but you can print it out and send in paper copy if you prefer. I ALWAYS have some kind of issues at the end when it diagnoses itself and I'm at a loss so I just type something into that blank and it takes it. My G/F has a tax man do hers and I've been wanting to run hers through my TT and see how they differ but haven't done it yet.
 
Big Dave said:
Hmmmm. A man doing his taxes instead of watching the Super Bowl????!!! Gonna go to your needlepoint club meeting after that??!!


Just kidding, 4R. Turbo Tax is easy to do. Lots of questions like GR said, but your answers populate the forms. Have ALL your receipts and 10's and W's ready on hand. May take you about an hour the first time.
Click to expand...

LOL, i got your needlepoint right here. Yea im a NY Giants fan and a sore loser. The game is played at their house and they wont be there, Bummer.
 
I have always just read the booklet that comes with the return forms and done my own.
 
Big Dave said:
Hmmmm. A man doing his taxes instead of watching the Super Bowl????!!! Gonna go to your needlepoint club meeting after that??!!


Just kidding, 4R. Turbo Tax is easy to do. Lots of questions like GR said, but your answers populate the forms. Have ALL your receipts and 10's and W's ready on hand. May take you about an hour the first time.
Click to expand...



Well Buddy old Pal, i just finished up with Turbo Tax, real easy. Now i can Babysit Ramsey while he watches the Puppy Bowl and work on the Bronco in the garage tonite
 
4ramsey said:
Well Buddy old Pal, i just finished up with Turbo Tax, real easy. Now i can Babysit Ramsey while he watches the Puppy Bowl and work on the Bronco in the garage tonite
Click to expand...

Awesome!!
Now. Cancel your needlepoint meeting. Put the Puppy Bowl on the TV in the other room. Crack open a beer or six and watch the Super Bowl like a man!! :p
 
4ramsey said:
Well Buddy old Pal, i just finished up with Turbo Tax, real easy. Now i can Babysit Ramsey while he watches the Puppy Bowl and work on the Bronco in the garage tonite
Click to expand...
Did you buy TT or did you use one of those that resides on the www? I've always been afraid of putting that stuff on the www myself so I buy it.
 
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