Author Topic: Tax Software?  (Read 1756 times)

Ben

  • Administrator
  • Senior Member
  • *****
  • Posts: 46,075
  • I'm an Extremist!
Tax Software?
« on: January 09, 2006, 10:45:37 AM »
Any recommendations on tax prep software? My tax situation has become a bit simpler the last couple of years, though I still have rental and other "non-standard" revenues for reporting and deductions. I'm thinking about maybe switching from my $600 a pop CPA to doing it myself.

I'd be interested in opinions from those of you who use tax prep software -- especially those of you who use it for a greater variety of reporting (rentals, business expenses, etc). I figured this year as an experiment I would buy software, do my taxes on the software, still go to the CPA and see how close things are. If my CPA finds me enough deductions over the software result to at least pay his fee, I might stick with him just to save the hassle. If not, it might be worth it for me to switch to going it alone.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

Lennyjoe

  • friend
  • Senior Member
  • ***
  • Posts: 2,764
Tax Software?
« Reply #1 on: January 09, 2006, 10:48:53 AM »
I have used Turbo Tax, Taxslayer and H&R Block in the last few years.   I think I will stick with H&R Block.

TarpleyG

  • friend
  • Senior Member
  • ***
  • Posts: 1,001
Tax Software?
« Reply #2 on: January 09, 2006, 11:05:29 AM »
I use TurboTax every year.  Nothing to complain about.

Greg

The Rabbi

  • friend
  • Senior Member
  • ***
  • Posts: 4,435
  • "Ahh, Jeez. Not this sh*t again!"
Tax Software?
« Reply #3 on: January 09, 2006, 11:14:21 AM »
I used to do my taxes by hand every year, with a pencil.
Then I bought TurboTax.  I really like it.  It makes suggestions and looks out for mistakes.  Even if you decided to do yours by hand I would support that because no one knows your financial situation like you do.
Fight state-sponsored Islamic terrorism: Bomb France now!

Vote Libertarian: It Not Like It Matters Anyway.

Nathaniel Firethorn

  • friend
  • Senior Member
  • ***
  • Posts: 522
  • Extra Thorny
Tax Software?
« Reply #4 on: January 09, 2006, 12:03:06 PM »
Used to use TurboTax until the spyware flap.

Tried HR Block TaxCut. Vastly inferior and the help-desk support is all Cheapistani drones.

Finally tried TaxAct. Works great, no spyware, and ya can't beat the price (it's free!)

http://www.taxact.com/

- NF
Give up no state. Give up no ground.

http://www.njcsd.org

mtnbkr

  • friend
  • Senior Member
  • ***
  • Posts: 15,388
Tax Software?
« Reply #5 on: January 09, 2006, 12:04:22 PM »
I've used Taxact for the past two years.  

Chris

Ben

  • Administrator
  • Senior Member
  • *****
  • Posts: 46,075
  • I'm an Extremist!
Tax Software?
« Reply #6 on: January 09, 2006, 12:30:37 PM »
Quote
Used to use TurboTax until the spyware flap.
Interesting -- I was unaware of this until your post. Just googled it.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

robear

  • friend
  • Member
  • ***
  • Posts: 359
Tax Software?
« Reply #7 on: January 09, 2006, 01:50:45 PM »
+1 on TaxAct.

Used it the last 3 years.  No problems.

R

DrAmazon

  • friend
  • Member
  • ***
  • Posts: 282
Tax Software?
« Reply #8 on: January 10, 2006, 05:45:03 AM »
Quote from: BenW
Quote
Used to use TurboTax until the spyware flap.
Interesting -- I was unaware of this until your post. Just googled it.
I googled too, and found tons of references to this in the 2002 edition, but no mention as to whether or not it is still an issue.  Anyone know any different?
Experiment with a chemist!

Leatherneck

  • friend
  • Senior Member
  • ***
  • Posts: 2,028
Tax Software?
« Reply #9 on: January 10, 2006, 07:00:40 AM »
Another turbotax user here, for the last 7 years. The only problem ever encountered was about five years ago when I inadvertently omitted about $17K worth of income and the program didn't care one bit. That was a nasty surprise letter from the IRS!

TC
TC
RT Refugee

client32

  • friend
  • Senior Member
  • ***
  • Posts: 537
Tax Software?
« Reply #10 on: January 10, 2006, 08:05:31 AM »
Tax Act.

Works well.

A friend uses  the commercial version when preparing taxes for other people (lots of farmers and truck drivers)
Admit nothing, deny everything, make counter-accusations - APS homepage 3/4/05 - 5/20/05

Never ask a man where he is from. If he is from Texas he will tell you. If he isn't there's no need to embarass him.

Nathaniel Firethorn

  • friend
  • Senior Member
  • ***
  • Posts: 522
  • Extra Thorny
Tax Software?
« Reply #11 on: January 10, 2006, 08:20:16 AM »
Quote
I googled too, and found tons of references to this in the 2002 edition, but no mention as to whether or not it is still an issue.  Anyone know any different?
They apparently learned the spyware lesson, but not the privacy lesson. This came up in a search of Slashdot:

http://yro.slashdot.org/article.pl?sid=05/04/13/2328211&tid=158&tid=95

A read of the linked article shows HR Block is guilty as well.

I think maybe I'll fire up a copy of Ethereal when I do my taxes... rolleyes

- NF
Give up no state. Give up no ground.

http://www.njcsd.org

matis

  • friend
  • Member
  • ***
  • Posts: 391
Tax Software?
« Reply #12 on: January 10, 2006, 10:49:22 AM »
I have been happy with Turbotax since back in the days of DOS.

It does a schedule C (business) and some schedule E's (rental houses) and all related and necessary schedules.

I do prepare and enter the depreciation schedules by hand, but that's 'cause that's easier for me than learning that module in Turbotax.

And I buy the cheapest "basic" version every year.  Most I ever paid was $14.95 at Walmart.  Sometimes find it for $9.95  Cheesy


In 2002 Intuit got nervy and decided to put copy protection in.  I like to put a copy on my computer and one on my ex-wife's.

So that year I bought Tax-Cut.

But Intuit lost so much in sales that year that they repented and I'm back to Turbo-tax.


As for privacy issues, I don't file electronically.

I stuff the return (may come to 30 or so pages -- one year it was 42 pages!) into a 10" x 13" manila envelope and mail it certified mail, return receipt requested.  So the IRS can't say they didn't get it.


Works great for me.


As for your CPA finding deductions you wouldn't have, I don't think so.  The IRS has got them so intimidated by fines and penalties that most are very conservative.

Buy a copy of "J K Lasser's Your Income Tax" for under $20 or even a copy of US Master Tax Guide for $60 or so.  Still way less than $650 for a CPA and you can look up anything you need to.  That's what your DPA does.

With either of those and Turbo-tax basic you can get the job done right (and cheap).


matis
Si vis pacem; para bellum.

...has left the building.

  • Guest
Tax Software?
« Reply #13 on: January 10, 2006, 01:47:01 PM »
I've used a CPA for the past few years...this year I'm doing it with a pencil myself, then re-inputting into Turbo Tax to check it.

Ben

  • Administrator
  • Senior Member
  • *****
  • Posts: 46,075
  • I'm an Extremist!
Tax Software?
« Reply #14 on: January 11, 2006, 06:12:02 AM »
Thanks for all the suggestions folks. I'll research the recommended packages and see which best fits my needs. I'll be curious to see who comes out on top -- me and  ~$30 software, or my Lexus driving CPA.... Cheesy  (just kidding around -- no offense to any of you who are accountants).
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."