TurboTax

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    Feb 06, 2011 10:35 PM GMT
    I’ve always paid to have my taxes professionally prepared. A few of my friends use TurboTax and they are telling me that its user friendly, straight forward, and money saver. I’m nervous about making the change and doing this on my own (mistakes/possible audit). I want to maximize my deductions. I'm not self-employed and have no rental properties.

    Is there anyone out there using TurboTax or some other similar program?

    Any advice would be appreciated.
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    Feb 06, 2011 10:55 PM GMT
    I use Turbo Tax because my returns are simple. If I was self-employed or had dependents or income property or investments, I would definitely hire a tax preparer that specializes in my particular financial situation. They would know more about certain deductions or rules or loopholes that would benefit me. On the other hand, TT is wizard driven. It displays simple questions for the most common tax scenarios.

    As for saving money? I don't know about that. The first time I used Turbo Tax, I compared the results to my returns from the previous year, done by a tax preparer. TT didn't get me a bigger tax return. It was about the same as the previous year. The main savings was the preparation fees. TT cost me $50 and my tax preparer charged me $75.

    Individual results may vary, of course.
  • Bunjamon

    Posts: 3161

    Feb 07, 2011 3:10 AM GMT
    My dad swears by TurboTax, and I'm using it this year for my (albeit very simple) return.
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    Feb 07, 2011 3:16 AM GMT
    I have used it for the past 2 years with no problems. I am not using it this year because there are some extra deductions that I hope I can get to work for me. Turbo Tax allows you to manipulate the numbers but in a sense, but after being unemployed in 2009 and getting a return, now that I am employed for 2010, I all of a sudden have to pay. what is up with this..NOT FAIR!!!
  • justinlee86

    Posts: 501

    Feb 07, 2011 3:18 AM GMT
    i use it and it did me very well this year.
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    Feb 07, 2011 3:20 AM GMT
    I've been using turbo tax for the past 3 years and haven't had any problems yet. took me less then a week to get my refund

    If you run into a problem where it's asking you for 20 bucks. just contact them and they'll give you a code to knock it off
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    Feb 07, 2011 3:25 AM GMT
    I use Tax Act, it's cheaper for filing the basic 1040A.
  • 2theTEE

    Posts: 637

    Feb 07, 2011 3:43 AM GMT
    Did my own taxes for the first time ever and T-Tax was great. Got the app from the Android Market, took a pic of my w-2 form w/my phone cam and from that, it auto-filled in the needed info (got about 90% of it correctly so I had to fix it, not bad). Step-by-step instructions were super easy and I was done in less than 10 mins. Paid the fee (about $15) to e-file it once I wad satisfied w/the results.

    I did this last Monday and just got my fed return back, direct deposited into my acct, this past Friday. Thought it was gonna take longer than that so I'm def happy.
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    Feb 07, 2011 3:46 AM GMT
    Taxslayer is significantly cheaper. None of these programs actually help you get back MORE money. They just make you input all your information and tell you how much you're getting back. I noticed a lot of people that say they got back more using this and this program than the other but it is really because they misread the instructions and made more claims than they are entitled too and then get away with it. For example, my friend claimed her brother as a dependent on her tax return on Turbotax but taxslayer did not allow her to do that. Technically, she is not allowed to do that but since Turbotax allowed her to do it she went with it. I reviewed her return after she filed it and was thinking "WTF?!?" She was making claims she thought she could but technically could not. Funny thing is she has been getting away with this stuff for years. So Turbotax isnt saving you money, its just letting you get away with shit.

    How do I know? I was forced to do this tax shit for 4 years with a big 4 whenever I had down time in my own line of service . I know more about 1040s than I ever wanted to know. We also didn't accept clients with AGIs less than $1 million so I've seen the most convoluted tax returns ever. Its all useless information now but whatever.
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    Feb 07, 2011 3:54 AM GMT
    I've used Turbo Tax since 2006. Seems to work with little difficulty.

    My mom showed me a website that's significantly cheaper and endorsed by the IRS. It's: http://www.taxactonline.com/ Not sure how good or legit it is though personally.
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    Feb 07, 2011 4:01 AM GMT
    Also, when you efile your return the program sends your return to the IRS and your state. This should be done almost immediately with any program. Once its sent off the program doesn't take any part in the tax filing process, well, unless it is rejected then they'll tell you that. Tax returns are rarely rejected. So the speed that you're getting your refund has nothing to do with the program your using. Its how quickly the IRS processes your returns. Also note that even if they accept your return and provides you with a refund it does not mean they validated all of the data. They still have 3 years to open up your return to do an audit. Just an FYI.
  • rebelbeard

    Posts: 558

    Feb 07, 2011 4:03 AM GMT
    I have been using TaxAct for the past couple years and I love it!! I get my max refund and it walks me through the entire thing. This year I did my siblings taxes as well.
  • 2theTEE

    Posts: 637

    Feb 07, 2011 4:04 AM GMT
    TT was easy...almost too easy. Thanks AK, good to know.
  • Posted by a hidden member.
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    Feb 07, 2011 4:06 AM GMT
    TurboTax rocks. I've used it for 10 years or so and I have complicated returns, with a Home Office Deduction and a separate Schedule C for my consulting practice.

    I always e-file and I get my refund within 10 days. This year I paid the extra $40 for them to interface with IRS completely on any issue with the return, even if there is an audit. Not that there should be. TurboTax is pretty fool proof.
  • Suetonius

    Posts: 1842

    Apr 14, 2013 6:01 AM GMT
    fastprof saidTurboTax rocks. TurboTax is pretty fool proof.

    No, Turbotax sucks! It won't download updates on my new Windows7 computer, and won't download the state return I paid for. They put out a program that is incomplete, promising that they will update it before taxes are due. Worthless if one can't get the updates. On their site, they state that if the downloads don't work (if it were a microsoft program you would expect it would not work) one can "manually" force a download - except that this "manual" process does not work either. Then they suggest you go into the bowels of the operating system, get a command c:prompt, and enter the command they write. That doesn't work either.
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    Apr 14, 2013 6:12 AM GMT
    Suetonius said
    fastprof saidTurboTax rocks. TurboTax is pretty fool proof.

    No, Turbotax sucks! It won't download updates on my new Windows7 computer, and won't download the state return I paid for. They put out a program that is incomplete, promising that they will update it before taxes are due. Worthless if one can't get the updates. On their site, they state that if the downloads don't work (if it were a microsoft program you would expect it would not work) one can "manually" force a download - except that this "manual" process does not work either. Then they suggest you go into the bowels of the operating system, get a command c:prompt, and enter the command they write. That doesn't work either.
    I ran into a similar problem a few years ago. My solution..

    - Uninstall Turbo Tax
    - Reboot
    - Install Turbo Tax again
    - DO NOT download updates during or after the installation
    - Start a new return and enter the basic info
    - Save and exit
    - Launch Turbo Tax and check for updates