Turbo Tax!

[kyrax12]

Anyone here have and been using that program? Can't you do most of the stuff that Turbo Tax does on excel?

I been seeing it a lot around stores and was wondering if it is actually effective at what it does.

 

[mizzou]

It's idiotproof and it updates the new tax code automatically with the ability to import excel data from various sources, and automatically input it into the tax software. It's essentially an excel program with a slick UI.

I will say it completely fucked up my investments, but it was very easy to manually input the data correctly.

If you've ever had to enter a long-form tax sheet from scratch, you will greatly appreciate the option to have it automatically performed for you.

 

[Balt]

Anyone here have and been using that program? Can't you do most of the stuff that Turbo Tax does on excel?

I been seeing it a lot around stores and was wondering if it is actually effective at what it does.

For the calculations, sure. But Excel isn't going to fill out your forms and run you through all of your possible deductions/liabilities.

That said, I used TaxAct. It's cheaper and seemed to work very well.

 

[kranky]

If you would consider building a spreadsheet to do your taxes, you can do it by hand without one.

TurboTax can handle any complexity of tax return and sells a ton of copies every year (same for H&R Block software), but that doesn't mean everybody needs it. If you have a straightforward return, you don't need it.

Also, there are online sites you might be able to use for free depending on your income.

IMHO the downside to tax software is it makes it difficult to understand WHY the numbers are what they are. It can be useful to understand the tax rules so you can take appropriate action if indicated.

Case in point: I once worked with a guy who sternly warned me if I worked enough overtime, I could actually have a SMALLER net pay since the taxes would go up and up with more overtime. I tried to explain withholding rates but the concept of percentages was too much for him. Could not convince him he was wrong.

 

[Balt]

Case in point: I once worked with a guy who sternly warned me if I worked enough overtime, I could actually have a SMALLER net pay since the taxes would go up and up with more overtime. I tried to explain withholding rates but the concept of percentages was too much for him. Could not convince him he was wrong.

It's amazing how many people believe that. I've heard the same thing from co-workers, including some with houses/kids.

 

[brianmanahan]

i have used it for 5 or 6 years. no complaints, does what it is supposed to and costs a lot less than the CPA i was using before.

 

[soulcougher73]

I used turbo last year and likes it. This year I tried HR Block due to the price hike on turbo. But next year il go back to turbo, it's a better easier program than HR for tax stupid people as myself ��

 

[brianmanahan]

if you buy and download the desktop version of turbotax, it lets you file up to 5 returns on a single copy.

so i just buy 1 copy, share with 4 family members, we each pay %20 of it, and voila, cheap tax prep

 

[ghost recon88]

if you buy and download the desktop version of turbotax, it lets you file up to 5 returns on a single copy.

so i just buy 1 copy, share with 4 family members, we each pay %20 of it, and voila, cheap tax prep

Really? Did not know that, will remember that for next year.

 

[Rage187]

Taxact for the last 5 years. Really, really good.

 

[cabri]

if you buy and download the desktop version of turbotax, it lets you file up to 5 returns on a single copy.

so i just buy 1 copy, share with 4 family members, we each pay %20 of it, and voila, cheap tax prep

HR block also has that setup - 5 free Fed files - unlimited paper returns

 

[jlee]

I used FreetaxUSA this year. Turbotax had a price hike and a feature-set downgrade (so I needed the next level up compared to last year), so instead of spending ~$100 I spent $11.95.

 

[TurtleCrusher]

Being in the military and an E-5 in the reserves, Turbotax Premium has been free for me for the past few years. It's been nothing short of a great deal for me at least. It's simple enough to be able to knock it out in two hours with confidence.

 

[Brainonska511]

Sure, you could save a few bucks by doing it by hand. However, there are sometimes a few linked numbers (so if you forgot some deduction or what-not and add it in later, it'll just auto update, instead of having to find every instance in your tax return manually). It's useful to have the program check your numbers and warn you if you're missing any information.

 

[Linux23]

i pay and have a wino off the street do mine by hand.

 

[JM Aggie08]

I just use their online services. Single + House + 401k = piece of cake.