The H&R and Turbo programs tell you if you have errors, audit type ratios/numbers, etc. They are pretty good for most people that do not have complicated taxes.We have always had a private tax consultant do our taxes. Peace of mind is a very nice place to be ..........
I used Turbo Tax for many years. I disliked their current marketing techniques. They would say free or $29 or whatever and by the time you went through the whole proces, it was over $200.Well I'm on the fence to continue paying our tax guy $250 again for what is now a very simple return. I just did it by hand using the 1040 .pdf file and know what the results should be. I've always done my own but the past 20 years we have used her family friend tax guy and the bill was $340 last year due to several phone calls and emails required.
Would mail it in but want to file electronically for the refund just need the access to do so.
Leaning towards pulling the trigger for the Turbo Tax or H&R block versions.
So if I use a pay to play version this fee is every year right? I'll have to weigh that against the $250 cost and no headache. Oh wait, I've already done the headache part :confused2:......and I keep my crap in order every year![]()
I'm not for sure what you we're getting with them that racked up $200. Every year, I get the TT Deluxe (fed/state) for $40, which does it all. If you have a bunch of dividends and stocks and all that, and you really need them to dummy down the interview process for you (and honestly, you don't), you could opt for the Premier for $70, but that should be it.I used Turbo Tax for many years. I disliked their current marketing techniques. They would say free or $29 or whatever and by the time you went through the whole proces, it was over $200.
Last year I used HR Block. It wasa bit clunkier than TT but I got done in similar time. I used again this year and even with a lot of unusual circumstances, I got through quickly and it was $29.
I used to have an Accountant do my taxes because he was good and he had worked for the IRS and knew exactly what he could get away with.
Nowadays, most accountants use a software program and it might be as good as TT or HRBlock.
I had a bunch of extras last year. I didn't pay. I went elsewhere.I'm not for sure what you we're getting with them that racked up $200. Every year, I get the TT Deluxe (fed/state) for $40, which does it all. If you have a bunch of dividends and stocks and all that, and you really need them to dummy down the interview process for you (and honestly, you don't), you could opt for the Premier for $70, but that should be it.
Line 1: What are you assets and income _______I hear from all the presidential candidates that pretty soon we can do our taxes on a postcard.
I have used turbo tax for 18 of the past 20 years. I used a CPA on two returns that were more complex. I like how TT walks you through the process and uploads the previous return information into the current return.Well I'm on the fence to continue paying our tax guy $250 again for what is now a very simple return. I just did it by hand using the 1040 .pdf file and know what the results should be. I've always done my own but the past 20 years we have used her family friend tax guy and the bill was $340 last year due to several phone calls and emails required.
Would mail it in but want to file electronically for the refund just need the access to do so.
Leaning towards pulling the trigger for the Turbo Tax or H&R block versions.
So if I use a pay to play version this fee is every year right? I'll have to weigh that against the $250 cost and no headache. Oh wait, I've already done the headache part :confused2:......and I keep my crap in order every year![]()
I've used TT for a number of years but never experienced the W2 auto populate. Is there a setting for that to occur?Yep. I was amazed when poking through TT and entered my employers ID number from W2 and it populated the full W2 info in less than 2 seconds!
It asks you when you're in the "enter W2" field, but it doesn't work for every employer. Between my wife and I, we have four W2's to enter, and it only does the auto-populate thing for one of them.I've used TT for a number of years but never experienced the W2 auto populate. Is there a setting for that to occur?
It is specific not only to the employer, but also the payroll processor (ADP for example). My wife and I work for 2 different companies, but we were able to take advantage of the ADP import. I was also able to take advantage of the import functionality for my brokerage account (1099-B) and my corporate stock accounts (1099-DIVs).I've used TT for a number of years but never experienced the W2 auto populate. Is there a setting for that to occur?
I specifically started using MacInTax (acquired by TT) back in '91 to help input Schedule D data for stock sales. I used Excel for that (and still do) and transfer the numbers. I also use it for options sales.The 1099-B import from the brokerage is a lifesaver; every sale transaction is reported with the associated short or long term capital gains. To do that manually would take forever.
Yeah, brokerages are getting better at reporting the cost basis of equities accurately. However, they still have some stocks that come up as "uncovered", and they have not always dealt with splits and return of capital distributions accurately. Options basis reports are improving, but not always right.Ever since the gov't mandated that a custodian of a brokerage acct must include the cost basis for investment transactions, the IRS has the capability to "reconcile" your ST & LT gains (losses) against what the custodian reported to them for the SS number on the acct.
I'm a retired Financial Advisor and Tax strategist, and I have used the Various-ST and Various-LT totals for years, without any problems (assuming that what I reported matches the 1099 numbers provided by the custodian). Saves me a ton of time not having to log each transaction, or even importing it.
If you use "various" to report totals, then you still need to properly account for each transaction outside of your tax software. There can be a lot of them if you own mutual funds, participate in dividend reinvestment plans, or do short sales.
Mutual funds may also make it easier to report LT and ST gains by generating an "average cost basis" for you. That method may not be advantageous, however.
Trouble with mutual funds is that there's a lot of "churn" in their holdings, much of it short term gains that you need to pay taxes on.Yeah, brokerages are getting better at reporting the cost basis of equities accurately. However, they still have some stocks that come up as "uncovered", and they have not always dealt with splits and return of capital distributions accurately. Options basis reports are improving, but not always right.
If you use "various" to report totals, then you still need to properly account for each transaction outside of your tax software. There can be a lot of them if you own mutual funds, participate in dividend reinvestment plans, or do short sales.
Mutual funds may also make it easier to report LT and ST gains by generating an "average cost basis" for you. That method may not be advantageous, however.
Yeah. I live in a state with no income tax (other than one on interest & dividends earned out of state, which I've never exceeded the exempt threshold), but some of my (self-employment) income is from a neighboring state who does have one. Unfortunately, they don't offer on-line filing for non-residents, and their forms are convoluted enough to make your head explode. Fortunately, only a relatively small portion of my income comes from there.State Taxes are a whole other story. I'm lucky enough to live in Oregon. Almost routinely, my filings were looked over and they said I OVER PAID, and here is your adjustment refund check and the reasons why I was getting a refund. When I lived in Maryland, it was the opposite. That State WAS draconian. You owe this much more, and its up to you to prove us wrong.![]()