Do-it-myself w/ Turbo Tax or not?

[liz417]

Hi all,

I just have a quick question:

I've always gone to an accountant to have my taxes done, but this year I am trying to find ways to cut expenses (as we all are ) and am contemplating doing it myself with Turbo Tax (and save $200 bucks!). I don't really think I have complicated taxes as I have no $$, so any thoughts or suggestions from those "do-it-yourselfers" would be great!

Thanks again!

P.S. I'm kind of a "numbers gal", so I think I can do it....

[justbroke]

I do taxes for 20-30 people each year. I use TurboTax Deluxe and it's fine. You can even get TurboTax Premiere which has all sorts of things like stock options an other esoteric income related tools. I think TurbotTax Deluxe is find for people with real estate (primary and vacation), rental property, and other (small) business income.

I don't see why the average person can't use a software product.

Most of them are great because they are interview based and so long as you check the things which apply to you, the software will go through a questionnaire and find the deductions for you.

[HRx]

Turbo Tax works well and is very simple to use. Just make sure you purchase the product that makes most sense of your financial situation so that you aren't extra money for the product version you don't need. TT is a lot cheaper than the likes of H&R Block and other groups that perform tax services. You can probably do a much better job yourself too. lol

Good Luck!

[lillaimof2kids]

I've used TurboTax for the last few years and really like it. It's very easy to use. You can take your time and go over things as often as you need to. For as long as they have it out, I'll use it!
I've been to H&R block and felt rushed, so never went back. Another year, before TurboTax, I didn't think I had my taxes correct, so I paid an account to go over everything. Sure enough I had it right...that was a waste of money!

[Genenco]

Regarding H&R Crock I'll never use those idiots again.

Dropped off paperwork, came back next day "Oh gee, we lost it" HUH???

Then they found it, did the return, charged me $75 and then called me 2 weeks later wanting another $75 because "Oh we accidently had 2 preparers do it"

My response was letting them know where to stick to other billing. Never again...

I have used Jackson/Hewitt once before, but the lady who worked with them passed away the following year. She was worth the money..If I ever get where I need TT, then maybe I might consider it.

[Flamingo]

Turbo Tax is great for your federal return; be careful with your state return if you decide to do state also. If you itemize you can miss certain state deductions that are not on the federal form. I usually do our state return myself by hand.

Run from H & R Block...at least from the past experience we had when my hubby had to file 4 state tax returns. They were so confused I took it all home and redid one and instead of paying $200 + when I ran the numbers we got a refund of almost $500 on one return. If you utilize them I suggest checking the return(s) yourself for errors. I will never use them again and just do things myself as I have the tax experience.

If you have a relative that does taxes, that is also a big help.

[liz417]

Turbo Tax is great for your federal return; be careful with your state return if you decide to do state also. If you itemize you can miss certain state deductions that are not on the federal form. I usually do our state return myself by hand.

OH, good to know. Yes, I itemize. Thanks!

[arkienurse]

Go to the Turbo Tax website. Don't bother to buy the software at chinamart or office depot. You can start in one of the more basic programs, and if you find the need to upgrade to the next step, it is right there, all you have to do is click on it.
I have used turbo tax for the past 3 years. The first year, we had started out at Jackson Hewitt. I received some money from stock that year( they liquidated the stock and sent everyone a check, as the stock didn't exist anymore. It was obvious the person preparing our taxes didn't know how to handle it, nor my husband's 1099 for some contract labor that he did that year. I finally told them to give me back my papers and we left. I found turbo tax online and was able to complete the taxes correctly, in an hour or so. Best of all, they will take the money to pay for the program out of your return, or out of your checking account directly, whichever you prefer.

For state, I usually get on the state website and fill in the form, using the info from my federal return(adobe acrobat form, fill in and print and mail). Arkansas has this funky system, where you actually come out better as a married couple to file separate but you do it on the same form.

[AngelinaCat]

We used to use TurboTax and were very pleased with it. Then we created a Charitable Remainder Unitrust (CRUT) and a Family Trust, among other things at which point we were advised to go to a CPA firm. We did. But frankly, it seems that a classier version of TurboTax might have done better for us and saved us some money.

[JRScott]

I do my taxes by hand every year and have done so since I started paying taxes over 20 years ago.

Mine are relatively simple in that I do not itemize. I'm single with no kids or dependents though. But even if I wasn't I'd probably do them myself.

[TEW]

I have been useing Turbo tax for years got my first copy on a 5 1/2 disket
Last year was the first time I had a problem with he state tax had issues with 1099s on pretaxed distributions

[carbk]

I have also been using Turbo Tax for the past couple of years and I really like it. As someone else said it is very easy to use...I also tried H&R Block once and they were a nightmare. The lady there tried to tell me that I was not getting any refund and that I would have to pay them $75 or however much on top of not receiving my refund. I told her I wanted to get my W-2s bacl so I could have them checked by my accountant and she DID NOT want to give them back to me. After I raised my voice she gave them back to me but I definately learned my lesson and will never step foot in an H&R Block office again. By the way I ended up getting $500 refund that year....

[Introuble2008]

I've been using TT for years. I "tested" my tax preparer one year. I bought TT AND had him prepare the tax returns. He said I'd get $200.00 back.....TT said $1300.00!!!! I filed with TT, got my refund, and no problems. That was over 8 years ago....so I haven't got a thing to worry about.

I found TT has a "donations" calculator. I found it REALLY is better than I'd have thought. For example....I donated a pair of ratty levis to Goodwill. I MAY have gotten $.50 for them at a garage sale. TT says it was worth $13.00!!!!!!!!!!!! okay - I'll take it!!!

You won't be sorry!