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#1
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TAX TIME--what's your favorite Tax Prep Program?
The title pretty much sums it up. Its time to file our taxes. What method(s) do you use? What has worked; which programs did you find performed poorly? Is one substantially easier to use? What about the online services--are their any increased worries about security as opposed to using a program on a CD?
I have used TurboTax, and it was OK, but I wonder if there is anything better. My income is all reported on W2; no withdrawals from IRA, or other investment funds. All in all, a pretty simple return--you would think.
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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags |
#2
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As a chicken$hit, pessimist I still rely on our corporate accountant to do my taxes. He also happens to sit on the state oversight board that was formed after the Arthur Anderson fiasco. Everything is by the book and he doesn't entertain grey areas. It costs a bit more but I sleep well at night after submitting it.
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod) |
#3
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CPA. It's the best $250 you will ever spend. I used Turbo Tax for years, until I relented and let the CPA do it. Turbo Tax had me getting an $800 return; the CPA got me a $4,000 return.
I never went back to Turbo Tax. |
#4
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I have used the top of the line version of Turbo Tax (I think it is TT Premier) and it has been good for me. I usually have to 'work it' to get the best return...
I used to use a CPA but found I was getting the same $$ back from TT
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"I have no convictions ... I blow with the wind, and the prevailing wind happens to be from Vichy" Current Monika '74 450 SL BrownHilda '79 280SL FoxyCleopatra '99 Chevy Suburban Scarlett 2014 Jeep Cherokee Krystal 2004 Volvo S60 Gone '74 Jeep CJ5 '97 Jeep ZJ Laredo Rudolf ‘86 300SDL Bruno '81 300SD Fritzi '84 BMW '92 Subaru '96 Impala SS '71 Buick GS conv '67 GTO conv '63 Corvair conv '57 Nomad |
#5
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Ditto.
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#6
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I used to use Tax Cut. Didn't like it much and started taking mine to a CPA. After a few years, I tried Turbo Tax and have been using it ever since. There's a reason it's the number one seller.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#7
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When in N.Texas, and only the best will do:
Rick Wilshire and Associates / Wilshire Consultants, Inc. http://www.wilshirefinancial.com/new/wilshirefinancial/
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1980 300D - Veggie Burner ! |
#8
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My favorite accountant, Ann.
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"It's normal for these things to empty your wallet and break your heart in the process." 2012 SLK 350 1987 420 SEL Last edited by Mistress; 01-23-2008 at 10:54 AM. |
#9
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I did my taxes in Turbo Tax one year after I had paid my CPA $350 to do them. I came up with the same refund she did. I've been doing mine this way ever since.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#10
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Quote:
IRS free file program would probably work just as well for you. It's free for incomes up to 54,000. Above that, the companies can charge you. Check it out. http://www.irs.ustreas.gov/efile/article/0,,id=118986,00.html I'm a CPA. This is what I do for a living. For laffs,and to familiarize myself with the product, a few years ago, I filed one of my teenage daughter's 1040's using IRS free file and the other's using our firm's software: CCH Prosystems fx. (imo the best in the business for professionals). Now mind you, CCH also was in the IRS free file network of software providers. Same company, same software, although iirc, they used a different trade name on the IRS site. At the end of the day, the returns were exactly the same, except the IRS return said "self prepared" and our return naturally had the firm's name on it. You must print and keep the paper copy, otherwise you will be out of luck should you need a copy later. There is no data or return storage. If you need a copy, you would have to get a return summary from IRS. So, if you are young and have a modest income, give it a shot. Also, good for kids. But it may pose a risk to have your kids wander off the reservation on their own, especially, if they are under 18 and have investment income which may put the parents in the dreaded kiddie tax pool. IMO, Turbo tax, from what I see, IN THE HANDS OF A PERSON WITH AVERAGE INTELLIGENCE, BASIC TAX KNOWLEDGE and COMMON SENSE, will work for most folks, (if you view return preparation as a commodity . ) The only time I recall a client coming to me who couldn't figure out how to get TT to do his return right involved Unrecaptured 1250 gain pass thru from an LLC K-1. He was a sophisticated guy and was happy with my work, but not with the bill, but he did come back again the next year. |
#11
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Turbo tax got you nothing. You got yourself the $800. GI..GO.. or something like that. Thanks for the plug! |
#12
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Quote:
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#13
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[QUOTE=dynalow;1740621] . . . I'm a CPA. This is what I do for a living.
. . . IMO, Turbo tax, from what I see, IN THE HANDS OF A PERSON WITH AVERAGE INTELLIGENCE, BASIC TAX KNOWLEDGE and COMMON SENSE, will work for most folks, (if you view return preparation as a commodity . ) . . . /QUOTE] I didn't mean to disparrage the accounting profession, of course. My taxes were much more complicated when I began using a CPA. After a while, I got out of certain investments, etc. and my situation became much more "run of the mill." That's when I began using TT.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#14
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D8,
I resemble that remark. An old line: " I'm an Accountant and I account for nothing!" PS:I didn't mean to inflame by the use of caps. |
#15
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That's Okay, Jim.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
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