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OT: Tax filing software
Posted on 2/3/17 at 6:13 am
Posted on 2/3/17 at 6:13 am
Anyone have a preference in tax preparation software and why? I've used TurboTax the last few years for our personal taxes, but curious if there's a better option. I've seen Credit Karma Tax (which is free), but there's at least one thread on reddit covering some major errors in its calculations. Considering letting our CPA do it this year since it may be slightly more complicated, but that will definitely cost me more.
And if you're doing the paper long form on your own, keep it to yourself.
And if you're doing the paper long form on your own, keep it to yourself.
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Posted on 2/3/17 at 6:45 am to S1C EM
Turbo Tax seems to be best/easiest but that's why having a CPA sister is crucial. I just email her all my shite
Posted on 2/3/17 at 6:52 am to S1C EM
I've used TurboTax the past 5 years but swapped over to TaxAct this year. About half the price of TurboTax and just as easy to use in my opinion if you've ever filed taxes before.
I've been running the two programs side by side with my return info and the amount owed / due has been the same for each. This is with standard W2, HSA accounts, tIRA & rIRA contributions, itemized deductions, and grad school education tax credit. Waiting to get my ESPP stock statements - will be interested to see how the two programs treat it but I'm expecting they will handle it the same.
I've been running the two programs side by side with my return info and the amount owed / due has been the same for each. This is with standard W2, HSA accounts, tIRA & rIRA contributions, itemized deductions, and grad school education tax credit. Waiting to get my ESPP stock statements - will be interested to see how the two programs treat it but I'm expecting they will handle it the same.
This post was edited on 2/3/17 at 6:56 am
Posted on 2/3/17 at 7:21 am to S1C EM
My wife just files at the irs website. But she's done taxes for so long that assistance isn't really necessary. We have work deductions, qualified accounts, and then the standard family stuff.
According to her, your comfort level with a website is probably most important. If you are buying software to make it easier, it doesn't get much easier than what you know.
According to her, your comfort level with a website is probably most important. If you are buying software to make it easier, it doesn't get much easier than what you know.
Posted on 2/3/17 at 7:49 am to meansonny
quote:
According to her, your comfort level with a website is probably most important. If you are buying software to make it easier, it doesn't get much easier than what you know.
That's good advice.
Our situation is a little odd just because we file married, separate. When you do that, you can't deduct anything unless BOTH parties itemize and we don't have enough deductions for that to make any sense. We also have a new baby (well, 11 months old now) that neither of us has claimed on our W4s and not really sure who is best claiming him. Plus the childcare credit, which I think is best for my wife to take on since she's claiming our other two children and, as I understand it, that would allow us to claim more than $3,000 on the childcare (since it definitely costs more than that).
My CPA can plug everything in and swap it around so fast to see who's best claiming what that I almost prefer to just let him do it. I recall in years past that it hasn't been as easy to swap things between two separate filers on TurboTax.
Posted on 2/3/17 at 8:25 am to S1C EM
quote:
Plus the childcare credit, which I think is best for my wife to take on since she's claiming our other two children and, as I understand it, that would allow us to claim more than $3,000 on the childcare (since it definitely costs more than that).
I'm almost positive she can't claim that if y'all are married filing separately. You can hardly claim any credits if you file that way.
Posted on 2/3/17 at 8:28 am to S1C EM
That software is all the same shite just repackaged.
Posted on 2/3/17 at 8:31 am to Dawgsontop34
quote:
I'm almost positive she can't claim that if y'all are married filing separately. You can hardly claim any credits if you file that way.
I'm not sure. I think it's primarily deductions. For instance, my student loan interest I cannot. Healthcare expenses and mortgage interest, we can....but, it doesn't help because neither of those is going to put us over the $6,300(ish) standard deduction. The credits, as far as I recall, are not affected. I did run it through an estimator earlier under that filing status and it counted it and pretty sure Turbo Tax has counted it the last few years, too.
Posted on 2/3/17 at 8:33 am to FinleyStreet
quote:
That software is all the same shite just repackaged.
Well, on the back end, I'm sure it's all about the same. User interface, not so much.
And Credit Karma's new entry is all screwed up apparently. Wouldn't touch that with a 10-foot pole.
Posted on 2/3/17 at 8:36 am to S1C EM
Been using TurboTax for almost 20 years. Never had a problem with it. See no reason to switch.
Posted on 2/3/17 at 9:00 am to Fats
quote:
OT: Tax filing softwareI've used TurboTax the past 5 years but swapped over to TaxAct this year.
Yep, I have used TaxAct for my Mom's taxes for the last 3 years without a problem.
Posted on 2/3/17 at 9:03 am to S1C EM
The "free" filing is usually only if you file a 1040EZ on federal taxes. I could do a 1040EZ in my sleep.
Posted on 2/3/17 at 9:21 am to AlaCowboy
quote:
The "free" filing is usually only if you file a 1040EZ on federal taxes. I could do a 1040EZ in my sleep.
As can I; however, I can't do 1040EZ. Have to have 1040A or 1040. Plus, I much prefer e-filing.
Posted on 2/3/17 at 9:22 am to GurleyGirl
quote:
Yep, I have used TaxAct for my Mom's taxes for the last 3 years without a problem.
For those who switched from TurboTax to TaxAct....why?
Posted on 2/3/17 at 9:46 am to S1C EM
TaxAct is the way I've gone for the last four years. It's really simple to use and they take $20 out of your state refund to use it.
This post was edited on 2/3/17 at 12:05 pm
Posted on 2/3/17 at 9:52 am to S1C EM
Cheaper and they don't lobby to keep taxes complicated as frick like intuit (turbotax parent company) does.
Posted on 2/3/17 at 10:01 am to S1C EM
I've used TaxSlayer for a long time with no problems.
Posted on 2/3/17 at 11:50 am to FooManChoo
quote:
I've used TaxSlayer for a long time with no problems.
Y'know.....I totally forgot about that one.
Posted on 2/3/17 at 12:42 pm to S1C EM
quote:
quote:Yep, I have used TaxAct for my Mom's taxes for the last 3 years without a problem. For those who switched from TurboTax to TaxAct....why?
Never used TurboTax. It seemed like additional expense and overkill for doing my Mom's very basic tax return.
Posted on 2/3/17 at 12:59 pm to GurleyGirl
I switched from turbo tax to HR Block a year or two ago when they stopped allowing for electronic filing of certain (fairly common) schedules. They lost a shite load of business over it. Not sure if they still do that but it's something to keep in mind.
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