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How Are You Filing Your Tax?

K

Kenji4861

Banned
I got this software called "TaxCut" from Staples for free so I"m planning to use that to file my tax.

Today I found a mail from "e-file" telling me to do taxes through them.

How are you doing your tax and why?
 
My accountant does them.

I'm not good with numbers and write with crayons, so you see my dilema.

Plus I'm self employed 🙂
 
I'm going to sit down in the library with my W2s and 1088s and crank it out with a $3 calculator on a 1040. Should take me about 20 mins total....taxes are easy for me at this point in my life. 😛
 
I'm giving it to the MBA dept at my school to sort it out. Future CPA's there need all the experience they can get, espically with all my gambling winnings and stock gains, beats me how it works.
 
What ever you do this yr 2003, Don't use Turbo Tax. They have information gathering spyware & ownership conformation spyware in it.
 
Tele-File is the shiznit. About one hour of work to fill out the Tele-File form, collect my W-2s, and call a 1-800 number. Then I just punch in all my numbers and it computes my refund for me! It only works for people with relatively simple taxes...you'll get a telefile packet in the mail if you qualify.
 
I have a mortgage and investment income, and I itemize.

Yet I just get out a pencil, a pad of paper, a 1040, and my W2's and 1099's. Takes me an hour or two.

What am I doing wrong that it's so easy for me but so hard for the rest of you?
 
Originally posted by: NogginBoink
I have a mortgage and investment income, and I itemize.

Yet I just get out a pencil, a pad of paper, a 1040, and my W2's and 1099's. Takes me an hour or two.

What am I doing wrong that it's so easy for me but so hard for the rest of you?
Click to expand...

Nothing. Everyone makes a big deal out of it, but it's really simple for most people. Unfortunatly, doing it yourself via paper and pen, you will not always get the best deductions and such that are available, but I think that H&R Block and other companies don't give people the best deals either. I go to www.associatedbank.com and they have a walkthrough where they just ask you a bunch of questions on the internet, then tell you what you owe or are getting back. It takes about an hour (or half hour if you are like me) and it's painless.
 
I used to use TurboTax.
Used TaxCut last year and liked it better.

I've also E-filed for the last 3 or 4 years.
It's awesome!

BTW: I work for accountants, and most of them say that unless someone has VERY complicated investment or income issues (inheritance, trust, own business) most people can and prolly should do their own taxes. Simple investments, single mortgage, and straightforward deductions is nothing more than gathering the records, and adding it all up.

BTW2: I do however, usually have one of the accountants just look my stuff over quickly to make sure I haven't obviously screwed something up.

BTW3: And if you are ever notified by the IRS that you are being auditing, hire a good accountant IMMEDIATELY! You wouldn't BELIEVE how much easier the process can be.

BTW4: BTW3 assumes of course, that you weren't trying to commit out and out fraud! :Q
 
www.taxact.com is pretty good, too. Again, they ask a series of questions and generate a PDF for you on-line. You can also download the software for free. The state versions cost around $15.

Ryan
 
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