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Give me your opinion on Turbo Tax

Discussion in 'The Lounge' started by santana, Mar 18, 2005.

  1. santana

    santana 1/2 ton status

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    I'm contemplating preparing my taxes using Turbo tax. Is this a good idea? What is the difficulty level for this? Pros and cons?

    Thanks in advance.. :p:
     
  2. kyser_soze

    kyser_soze 1/2 ton status

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    I have used Turbo Tax for 5 years never had a problem with it. It's easy. The program leads you through the filing process by asking you questions about your taxes. After completeing the filing process it does a scan and looks for errors.
     
  3. wraenking

    wraenking 1/2 ton status

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    plus you can back up your file and it automatically puts all your info in next year.
     
  4. Desert Rat

    Desert Rat Fetch the comfy chair

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    Been using it for 5-6 yrs. as well. Works great an no problems. I always e-file too.
     
  5. 70jimmy

    70jimmy 3/4 ton status Premium Member GMOTM Winner

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    Been using it about 7 years with no problems and used it with buying and selling houses, working as a subcontractor, 10-99's and the like, self employed etc. always asks easy questions and easy to go through. that reminds me I better get started on my taxes.
     
  6. mudjunkie 82

    mudjunkie 82 1 ton status GMOTM Winner

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    I have used it for several years with great results
     
  7. newyorkin

    newyorkin 1 ton status

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    I ran through it for the first time this year but didn't file. It seemed to come up with quite a smaller refund than last year, and not much has changed since then. I plan to work it out on paper and see if I'd get back more doing it myself before filing. I guess I'll let you know before 04/15 :) .

    I asked a co worker about this recently, too, and he said the same thing, he used it last year and owed money, then took it to an accountant instead of filing, and got money back instead.
     
  8. santana

    santana 1/2 ton status

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    I guess I'm gonna try it, I'll also work it out on paper and see if there is a difference..

    Thanks for input..
     
  9. JDNobodi

    JDNobodi 1/2 ton status Premium Member

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    I've a question for you all. I used Turbo Tax last year because it came with a new computer. I want to know if I can use the same program, or do I need to buy the new version.
     
  10. outlaw612

    outlaw612 1/2 ton status

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    Probably have to buy the new version so it will have the updated tax laws.
     
  11. ronnny

    ronnny 1/2 ton status

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    wife does the taxes with it every year and we e file. lets you know if missing anything or if some form needs to be filled out that you never knew existed when doing the home business stuff.
     
  12. newyorkin

    newyorkin 1 ton status

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    Well, we just did it on paper, checked, double-checked, triple-checked...

    We're getting about $2000 more back from federal, and $800 more back from state than turbo tax said we'd get, so we're filing by paper this year...

    I really thought Tax software would really boost what we get back because I figured there'd be all these little deductions I didn't know about, but I guess not. I still may take it to an accountant, but I don't know if they'll get me much more than that back... Turns out we might need to revise our 2002 return because we didn't take a child credit. That might actually be enough to get back into a K5...:rotfl:
     
  13. newyorkin

    newyorkin 1 ton status

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    You can do it online without buying the new version. Go through all the hoops, then you can finalize it or not at the end, and that's where you'd pay.

    If I had a business or other source of income than my job, I'd most likely use it to avoid missing things...
     
  14. newyorkin

    newyorkin 1 ton status

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    I just went to E-file through the IRS web stie, and they redirected me to HR Block. I went through almost exactly the same process I did in turbo tax, EXCEPT, I entered my kids SSN's this time, and viola, my refund bumped right up to where we figured it out on paper.

    I guess Turbo Tax doesn't factor in the Child Tax Credit until you actually enter thier SSN's. I didn't do that when I tried the online Tax prep until just now.


    BTW, go to http://www.irs.gov/efile, and follow the link through the HR Block efile. Go all the way through without including your state tax return, and you can do (it looks like) everything you can on the Turbo Tax site, except it's FREE and you can E-file right there (meaning you get your refund in two weeks if you're getting one).

    I'm going to post a new thread, this is pretty kickarse news... Why spend the $$ on Turbo tax if you don't need to?
     

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