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Joined: Jan 2007
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OP
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Hey guys,
Quick question. Does anyone have experience with TurboTax Software. I've started making a pretty substantial amount of money and my taxes have gotten too complicated for my mother to do. So now it's my turn.
So I was looking at TurboTax Software. Now I have some long-term and short-term capital gains to deal with. I also didn't pay state income tax on a substantial amount of my income for this year (so I'm gonna have to figure out what I owe) does anyone have any suggestions as to what tax programs I can use which can help me with state, capital gains, and a possible education deduction?
UCONN HUSKIES 2014 Champions of Basketball
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Joined: Aug 2007
Posts: 3,728
Hall of Famer
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Joined: Aug 2007
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You may want to consider a CPA.
Besides taking care of your 2012 taxes it sounds like you may be able to benefit from some advice on how to manage your 2013 tax liability and beyond.
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Joined: Feb 2007
Posts: 4,753 Likes: 11
Hall of Famer
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Hall of Famer
Joined: Feb 2007
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I'd agree with Heldawg, you may want to consider a CPA.
I've used TurboTax for probably 6 years not, with exception of the year I was in Amsterdam and the following year (I had deloitte free of charge). The tool works pretty well overall and is pretty intuitive. I get 90% of what I need done in less than an hour because my taxes are not overly complex (I'm a homeowner, donate $1500-$2500/year, no kids). It is pretty intuitive, asks a lot of questions, and give multiple options for entry of data.
But the one thing that makes my taxes take a couple hours longer is that I've exercised stock options the last couple years. I end up doing it 2 or 3 times just to make sure it comes out correctly, because it never seems right the first time. I believe that they have online and phone support from tax experts, but have not had to go that route.
I don't get charged until the end, so it might be worth "trying it out". I know that wasn't too much help, but is the best I have...
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Joined: Sep 2006
Posts: 17,438 Likes: 548
Legend
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Legend
Joined: Sep 2006
Posts: 17,438 Likes: 548 |
I am a self employed business owner, so I use a CPA for both business and personal taxes. It costs more but she does a very thorough job, and I can call her any time of the year for tax advice and or consultation.
My Dad uses H and R block, and he has always been satisfied with them.
Before my taxes got complicated, I used TurboTax. If your return is on the simple side, its very easy, convienent, and well priced.
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Joined: Sep 2006
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Legend
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Legend
Joined: Sep 2006
Posts: 50,375 Likes: 457 |
I used H&R Block once ..... They charged me almost $500, and I never went back. I had a modestly complicated return, but I had all of my receipts put together, along with a spreadsheet breaking everything down and totaling each category for them. They basically just had to enter stuff into their prompts. Really difficult.  I was just worried because I had some questions about 2 items. My pharmacist gave me the name of a guy he uses, who is supposed to be reasonable and a quality, well versed, tax guy. He said that his guy will probably do my taxes for around $200-$300 with him if I already have everything put together.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Joined: Sep 2006
Posts: 11,465
Legend
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Legend
Joined: Sep 2006
Posts: 11,465 |
It's free to try, so you may as well give it a shot. It's pretty thorough/intuitive.
If it's not right for you, you can walk away with no charge.
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Joined: Feb 2007
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Hall of Famer
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Joined: Feb 2007
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Something I forgot - Turbotax offer audit support as well.
Total cost for my taxes this year for federal, state, audit support, e-filing, and electronic transfer of my refund directly into my checking acct was something like $140 or $160. I completed my taxes on 2/17 and see that my state check was deposited today, and received a message my federal check should be deposited tomorrow.
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Joined: Sep 2007
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Dawg Talker
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Dawg Talker
Joined: Sep 2007
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I'm a big fan of TurboTax because it's easy, fast and relatively cheap compared to CPAs. Oh yeah...and it remembers you year after year, which really helps.
I have plenty of stock sales, donations, etc and it figures it all out for me. State and Federal. Got my Fed return in about 7 days.
Just make sure you have all of your paperwork handy. Highly recommended.
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*In Baker we trust*
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Practice Squad
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Practice Squad
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Ytown that still seems high? My wife and I use Fluent and associates in the Boardman Poland area. I think we only pay $150. Ours aren't to complicated. We had 4 w'2s, 2 1099's, plus our deductions and whatever else my wife sends lol.
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Hall of Famer
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Other than 2 years in the past 20, I've done my own taxes. The two years I didn't, I had unusual things going on...collected unemployment one year, the other I got married, bout a house and changed jobs.
We went to HR Block the year we got married and they charged waaaaay too much. Won't go back but glad I had someone more knowledgeable than me do the taxes.
For the past 7 years, I've used TurboTax and I like it. It's simple and leads you through it. It remembers our info year to year. Doesn't cost a fortune. Getting ready to do my taxes this weekend and anticipate having our refund before St. Patty's Day.
![[Linked Image from i75.photobucket.com]](http://i75.photobucket.com/albums/i302/lrhinkle/d5eaf0b9-e429-4211-b53f-b843bfcf6aa9_zps2ac17420.jpg) #gmstrong
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Joined: Sep 2006
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Legend
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Legend
Joined: Sep 2006
Posts: 50,375 Likes: 457 |
I am going to have some really complicated situations that are going to need to be researched this year.
The H&R Block thing really irritated me.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Posts: 9,349
Hall of Famer
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My step mom does taxes for H and R block, and even she says they are a big rip off. The H and R tax software you can buy at the store for $20 is the same thing they use. They don't do anything you couldn't do yourself at home on the computer.
When she does her own personal taxes, she uses Turbo Tax. I use it every year too. You don't even have to buy the software anymore, you can go to Turbo Tax.com and do it all right there. Its simple, and cheap. I have had my step mom review it, and everything has always been spot on.
KING
You may be in the drivers seat but God is holding the map. #GMSTRONG
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Joined: Sep 2006
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Legend
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Legend
Joined: Sep 2006
Posts: 27,285 Likes: 633 |
Us old farts still do our own taxes by hand. I have been doing my own taxes for many years even with w-2s, 1099s, rental property, education loans, and all my deductions.
I AM ALWAYS RIGHT... except when I am wrong.
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Joined: Sep 2006
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Legend
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Legend
Joined: Sep 2006
Posts: 19,126 Likes: 1048 |
I had a similar experience with HR Block. When I first got married, we got a coupon for 29.99 for a complete return. The next few years it was around 50 dollars. When we bought our house, it was 75 dollars and remained at that price for a few years. Then about a dozen or so years ago.....the price just suddenly went up to 250. I've been using Turbo Tax ever since.
And into the forest I go, to lose my mind and find my soul.
- John Muir
#GMSTRONG
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Joined: Sep 2006
Posts: 42,834 Likes: 158
Legend
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Legend
Joined: Sep 2006
Posts: 42,834 Likes: 158 |
Quote:
Hey guys,
Quick question. Does anyone have experience with TurboTax Software. I've started making a pretty substantial amount of money and my taxes have gotten too complicated for my mother to do. So now it's my turn.
So I was looking at TurboTax Software. Now I have some long-term and short-term capital gains to deal with. I also didn't pay state income tax on a substantial amount of my income for this year (so I'm gonna have to figure out what I owe) does anyone have any suggestions as to what tax programs I can use which can help me with state, capital gains, and a possible education deduction?
Get yourself a CPA. you would be shocked at the differences between the software packages and what a Smart CPA can do.
Not sure where you live, but if your in NE Ohio, pm me and I'll give you a name of a guy I use.. he's a JD, CPA and ex-IRS agent. He looks at it from many angles. Probably talking 3 to 4 hundred bucks to get it done,, he'll save you that much and more.
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.”
Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe."
Damanshot
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Joined: Sep 2006
Posts: 17,027 Likes: 2
Legend
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Legend
Joined: Sep 2006
Posts: 17,027 Likes: 2 |
Quote:
Us old farts still do our own taxes by hand. I have been doing my own taxes for many years even with w-2s, 1099s, rental property, education loans, and all my deductions.
Do you still script that onto stone, then take your dinosaur over to the pony express to have it delivered?
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Joined: Sep 2006
Posts: 27,285 Likes: 633
Legend
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Legend
Joined: Sep 2006
Posts: 27,285 Likes: 633 |
Why yes I do lol. I can't use Turbo tax as it will not figure 1099 misc forms correctly, and I found deductions that a CPA told me I was not elig. for years ago (until I showed her right in the tax code where I was) Been doing them by myself every year since..
I AM ALWAYS RIGHT... except when I am wrong.
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Joined: Oct 2006
Posts: 17,024 Likes: 445
Legend
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Legend
Joined: Oct 2006
Posts: 17,024 Likes: 445 |
Quote:
My step mom does taxes for H and R block, and even she says they are a big rip off. The H and R tax software you can buy at the store for $20 is the same thing they use. They don't do anything you couldn't do yourself at home on the computer.
When she does her own personal taxes, she uses Turbo Tax. I use it every year too. You don't even have to buy the software anymore, you can go to Turbo Tax.com and do it all right there. Its simple, and cheap. I have had my step mom review it, and everything has always been spot on.
KING
The only thing going to an HR Block does is it gives you some peace of mind, particularly if you buy the insurance.
If your taxes aren't very complicated, I think Turbo Tax is a really good program, and I believe they offer an insurance product as well if you were audited.
LOL - The Rish will be upset with this news as well. KS just doesn't prioritize winning...
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Joined: Aug 2009
Posts: 1,517
Dawg Talker
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Dawg Talker
Joined: Aug 2009
Posts: 1,517 |
when i worked one job and that was it, i used turbotax everytime. i was single, lived in the same place the entire year (with parents), and only had 1 w2. took me like 20 minutes with turbotax and i was all done
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Joined: Sep 2006
Posts: 30,822 Likes: 516
Legend
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Legend
Joined: Sep 2006
Posts: 30,822 Likes: 516 |
j/c
Wow, I'm not hearing much good about H + R Block in this thread.
I use a CPA. Even as the epitome of "small" business, the $300 I paid last year ($275 the year before, probably $325 this year) is worth it in my opinion.
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Joined: Feb 2009
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Practice Squad
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Practice Squad
Joined: Feb 2009
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I gotcha. Never been to H and R block.
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