Turbo tax

[DeepCMark58A]

And that is good if you itemize...otherwise, doesn't matter.

True, but if you have the ability to deduct it does matter.

 

[rolmops]

I have used both H&R Block and Turbo tax.
H&R is more user friendly. At least last year, H&R allowed me to do everything and only at the end it asked me to pay to send the taxes in.
In comparing the two, I find that H&R explains things better while Turbo just throws you back to federal or state explanation sheets.
They both act as if they give you the state for free, but in most states it is illegal to charge for sending in state taxes.

 

[BWR1953]

We just finished filing our taxes with Turbo Tax. It worked fine, as it always has.

But, we ended up owing this year due to big changes last year. That's the first time we've had to pay since my wife got here almost 13 years ago. It was a real eye opener for her.

 

[garbageguy]

...They both act as if they give you the state for free, but in most states it is illegal to charge for sending in state taxes.

you must not be filing NY State.

 

[redneck joe]

We got debt free a couple years before the standard deduction went up and even before then we were in the donut hole of making a fair amount of money but not enough to be richest to take all the tax breaks. I do like the simplicity.

My semi retired hustle only makes about 20k and I went thru the machinations of itemizing all that one year and it actually cost me money so now I just do mything.

 

[rolmops]

you must not be filing NY State.

In fact I do and it is free in NY but these online companies make you pay for "services" not the actual filing. Although you must be a wizard to unravel it.

 

[dingbat]

Have used most tax softwares over the years.
Pretty much all the same. Typically went with the cheapest I could find at the time.

Have been using Turbo tax up until last year since it Intergrates with our Quicken, home finance software.

Last year, I was fired. Mrs. Dingbat decided it was time to pass things off to a Corporate tax account and CPA that would do our taxes for free.

Only cost us 5 years of room, board and tuition at a Big Ten university…lol

 

[aspeck]

Have used most tax softwares over the years.
Pretty much all the same. Typically went with the cheapest I could find at the time.

Have been using Turbo tax up until last year since it Intergrates with our Quicken, home finance software.

Last year, I was fired. Mrs. Dingbat decided it was time to pass things off to a Corporate tax account and CPA that would do our taxes for free.

Only cost us 5 years of room, board and tuition at a Big Ten university…lol

Depends on which Big 10 University whether you COA/Corporate tax accountant is worth it or not! LOL!

 

[JimS123]

I started my own business in 1999 and because of that I started using TaxActas opposed to using paper forms. I used it for 3 years and didn't like it because of some glitches. I switched to Turbotax and have been using it since then.

One of the advantages is that it "remembers" your last year's data and automatically populates it. Last year I had a loss carryover and this year it reminded me of the amount that was left. If I had not used TT 2 years in a row I'm sure I would have forgotten about it.

60 bucks is pretty cheap. No tax attorney even comes close. Use it step-by-step and you'll catch everything.

 

[bruceb58]

True, but if you have the ability to deduct it does matter.

Do you itemize? I bet not.

I used to itemize but when the tax code got changed and the standard deduction was raised and there were the SALT limitations imposed, the only way anyone can really itemize is if they have a massive interest rate on a home loan or have a huge charity writeoff.

Only 9% of returns itemize now vs 31% before.

 

[bruceb58]

One of the advantages is that it "remembers" your last year's data and automatically populates it. Last year I had a loss carryover and this year it reminded me of the amount that was left. If I had not used TT 2 years in a row I'm sure I would have forgotten about it.

I use the HR Block software for personal and the business version of TurboTax to do my partnership returns for 1065.

For some reason Turbo Tax forces you to be passive with any K1s you get, at least as of a few years ago and I have a partnership that is non-passive. I have a round 30 K1s that I receive each year.

HR Block also keeps track of non allowed loss carryovers which is good since I have quite a few this year. I just wish it would somehow give me a summary of all my loss carryovers so I can plan accordingly for the following year.

 

[DeepCMark58A]

Do you itemize? I bet not.

I used to itemize but when the tax code got changed and the standard deduction was raised and there were the SALT limitations imposed, the only way anyone can really itemize is if they have a massive interest rate on a home loan or have a huge charity writeoff.

Only 9% of returns itemize now vs 31% before.

You would lose that bet, have an S corp.

 

[bruceb58]

You would lose that bet, have an S corp.

LOL...what does an S Corp have ANYTHING to do with itemizing?

Yes...you can then deduct it from your business return. I do that with my business software cost when I complete my 1065. That is a lot different that itemizing on a Schedule A which is what we are talking about.

Do you fill out a Schedule A and it is more than your standard deduction? You actually do your own taxes?

 

[DeepCMark58A]

LOL...what does an S Corp have ANYTHING to do with itemizing?

Yes...you can then deduct it from your business return. I do that with my business software cost when I complete my 1065. That is a lot different that itemizing on a Schedule A which is what we are talking about.

Do you fill out a Schedule A and it is more than your standard deduction? You actually do your own taxes?

I do not do my own taxes.

 

[bruceb58]

I do not do my own taxes.

I kinda figured so.

 

[DeepCMark58A]

I kinda figured so.

Own a manufacturing company with 40 employees, ship equipment to 23 countries. I am not doing my own taxes.

 

[KJM]

I use "wife tax", sometimes I get a good meal out of it too! Seriously, she does the taxes and has used Turbo Tax, but now prefers "Studio Tax". She works for Canadian Revenue Service, so I figure she knows what she's at.

 

[avenger79]

used it for many years. very simple to do

 

[bruceb58]

Own a manufacturing company with 40 employees, ship equipment to 23 countries. I am not doing my own taxes.

LOL...thanks for making my point.

 

[airshot]

Used most all the home tax programs over the years, Turbo Tax seems easiest for us to use. Retired so not complicated, but does a good job with our retirement accounts.