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re: Anyone here use TurboTax?
Posted on 3/8/15 at 7:53 am to Brightside View
Posted on 3/8/15 at 7:53 am to Brightside View
Your cpa charges you 400 dollars to do your taxes?! I'm sorry but that is highway robbery. Any tax software can do what the cpa does for 50 bucks
2
Posted on 3/8/15 at 8:52 am to Brightside View
Find another CPA
My return is more complex than yours and I pay less
My return is more complex than yours and I pay less
Posted on 3/8/15 at 4:02 pm to yellowfin
Spinoff question: Why can't all costs for tax preparation be deducted? $50 software in particular
Posted on 3/8/15 at 5:20 pm to King of New Orleans
Wife does our taxes and it works great
Posted on 3/8/15 at 9:54 pm to weagle99
quote:
Why can't all costs for tax preparation be deducted? $50 software in particular
It can be deducted IF you itemize and IF you have allowable deductions in excess of 2% of your AGI (Adjusted Gross Income) in the Miscellaneous Deductions portion of the Schedule A. And on a Schedule E, Schedule F, or Schedule C, for instance, you can "deduct" the cost of tax preparation as an allowable expense.
Posted on 3/9/15 at 12:48 am to Civildawg
quote:How much time do you think it takes a CPA to prepare his return, and what do you consider a reasonable hourly rate for a CPA? How much time do you think it should take him to prepare his return using one of the commercially available software packages? How much value should he put on the time he spends preparing his returns using the software? If he puts over $400 value on the time he spends preparing his return, then it is worth paying the CPA.
Your cpa charges you 400 dollars to do your taxes?! I'm sorry but that is highway robbery. Any tax software can do what the cpa does for 50 bucks
Posted on 3/9/15 at 8:48 am to Poodlebrain
quote:
Any tax software can do what the cpa does for 50 bucks
And if the taxpayer has a tax question, with the 50 dollar software, he/she can always "Ask the box" to get their question answered. (Sarcasm detector may be necessary for some folks.)
Posted on 3/9/15 at 9:15 am to Civildawg
quote:Do you have any rental properties? If so will your $50 software help you file any accounting method change requests made necessary by the recent revisions to the regulations regarding repairs, maintenance and improvements to property? How much time will it take you to learn the differences between repairs and improvements? Do you know what a unit of property is under the new regulations?
Any tax software can do what the cpa does for 50 bucks
The software is only as good as the user and the designer. If the user and designer do not have the CPA's knowledge, then the user and designer working in concert will not achieve as good a result.
Posted on 3/9/15 at 11:56 am to Poodlebrain
Am I the only person still doing it by hand? I don't see why I should pay for software if I can do it myself. Itemizing filer w/self employed attorney spouse, it's complicated, but not THAT complicated. As long as you read up on the changes from year to year.
Not paying $50 simply to avoid doing a little research/reading.
Not paying $50 simply to avoid doing a little research/reading.
Posted on 3/9/15 at 11:58 am to hungryone
I filed my fed and state with turbo tax and it didn't cost me a dime
Posted on 3/9/15 at 12:13 pm to hungryone
$50 can guarantee you don't make a silly mathematical or transposition error. So the software could have some value from that perspective. Additionally, the software enable you to file electronically. If you have a refund that can accelerate the receipt of a refund by several weeks.
Those are just a couple reasons why some might consider a $50 investment in software worthwhile.
Those are just a couple reasons why some might consider a $50 investment in software worthwhile.
Posted on 3/9/15 at 1:04 pm to Poodlebrain
Just to add to Poodlebrain's thoughts, if you use TurboTax business to do a trust return, and if the trust held and sold MLPs during the year, you must allocate between short term gain, long term gain and reclassify some of the gain to ordinary income. TT will not do this and makes no options available to accommodate this.
Posted on 3/9/15 at 8:43 pm to CHSBears
This year I had a lot more write offs than ever before.
I thought a CPA was needed. But I jumped into turbo tax and saw how easy it was. Got my return thereafter.
I thought a CPA was needed. But I jumped into turbo tax and saw how easy it was. Got my return thereafter.
Posted on 3/9/15 at 10:18 pm to cjared036
Not turbo tax but a great deal from HR Block Taxcut. I used it for deluxe with state for $15. Forgot the second $5 off 
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