Do you use tax software to prepare your taxes? Do you like it?

Sigh. So, SpouseO and I finally have all our tax documents, and I’d like to get them done sooner rather than later. Our taxes are pretty uncomplicated (mortgage only, no stocks or tuition or children or such), but in previous years we’ve always gone to H&R Block (he likes their guarantee). Perhaps I’m falling for the hype, but I’m not certain that they’re really giving me any better service than can be had from the various softwares that are out there.

Tell me, Dopers - do you use the TurboTaxes of the world? Do they give you what you need? Are they accurate? Should I save my considerable H&R Block fee (minus the $40 for the software) for better uses and go with the software? What do you hate about it? Our taxes are pretty easy, but we did buy a hybrid vehicle this year and want to claim that benefit - is something like this easy to find? Tell me all.

I have my brother, a former IRS auditor, handle my taxes with TurboTax. Judging from watching him, I’d give a solid “yes” to all your questions.

The only problem I see with it is getting a new one every year.

I use TurboTax online every year (just go to their website). I think it’s $20, IIRC, to complete your taxes & electronically submit. No software to buy. It’s quite easy and pretty fast – and I’ve got complications like a mortgage, kids, multiple incomes, etc. They also remind you of deductions you might be eligible for - for example, when I indicated that my wife was a teacher, it reminded me that she could deduct up to $250 dollars in classroom-related expenses (or something like that, I forget the details).

I used TuboTax last year for the first time and liked it well enough to use it again this year.

Used it for the last 3 years. I’m too stupid to make effective use of it and end up missing/miscategorizing stuff with pretty serious results. Doing it on paper makes me pay attention and I end up getting a 100% refund that way. Can’t ask for better than that.

Make babies. They work wonders for your return.

I’ve used either TurboTax or Tax Cut each of the last 5 years or so, whichever is on sale. Usually Turbo. The programs are pretty easy and get easier every year. Just follow the little questionnaire they set up, all answers are automatically plugged into the proper space on the proper form, and you’re done, daddy-o.

The only problem we’ve ever encountered is when we’ve received a dividend from some stocks, we always have a problem trying to figure out what our actual tax base is based on the amount received, or some crap, I can’t remember. I usually ask my father-in-law to do that part because he’s old school- spreads all his forms out all over the dining room table for about a month, keeps Excel spreadsheets for all his stock dividends, etc. It takes him about 15 minutes to figure out that element of it for us.

Otherwise, the software is great. As others have mentioned, they let you know about additional savings- or additional taxes- based on your answers, that you might not have known about otherwise.

Incidentally, the IRS loves the programs because they increase accuracy of the returns, and I’m sure tax prep services like H&R Block hate them, for obvious reasons.

I used TurboTax a couple of times, then got TaxCut for free one year and have used it ever since. I’ve used software the last 6 years or so. I have a mortgage and am a state employee so I don’t pay into Social Security (I pay into our state retirement fund instead). Both packages always find this discrepancy and make me confirm that it’s what I really meant.

TaxCut is now owned by H&R Block, so you can pay extra for their guarantee, IIRC. They also give you a 100% rebate on DeductionPro which allows you to calculate the value of any items you’ve donated to charity. I’ve used it the past 2 years to add up all my charitable donations and it’s been really helpful. (Worth it if you donate non-cash items to anyone.)

I definitely think it’s worth it.

GT

A 100% refund is a little aggressive for most adults but good for you. Just don’t make any really long-term plans.

I have used TurboTax for 5 years. I like it and it is much easier after the first year because it import all of your old information. Our taxes are moderately complicated and I can do them in an afternoon with good confidence that I got the correct deductions. Filing and getting an electronic refund are pretty convenient too.

I’ve used TaxCut for the past several years, have no complaints. I have a sneaking suspicion that I could do it all myself and save some $$, but Taxcut hits on everything I need and is so simple and efficient that I convince myself it’s worth the $25.

5 years of Turbotax, and 1 audit. Small biz, and real job, 5 kids or none (depending on the year), mortgage, etc. I’d say our return is moderately complicated. Turboax has a guarantee, but YOU are responsible foregiving it the correct info, just like all the others (no one is going to warranty inaccurate info)

I LOVE turbotax.

I have been using TurboTax for many years now. The import feature is nice, but I won’t be able to use it this year, my HD crashed and I didn’t have that on my backup. :smack: At least the rest of my financial stuff was backed up. Remember that if you itemize, you can deduct the cost of the software you use next year on your taxes.

I like it, in part because it is very integrated with Quicken, which is what I use for my finances. (Sounds more imporant than my checking and savings accounts and too many credit cards. :stuck_out_tongue: )

If you do buy the TurboTax software, you usually get a rebate on the electronic filing fee for 1 return. So if you only use it for yourself (not sure about married filing jointly) the only cost is the software.

This is better-suited for IMHO. I’ll kick it over there for you.

Apologies, Skip - that’s where I meant to put it. Brain fart, I guess.

Looks like I’ll be going the software route this year. Excellent. Saves me some cash.

I do like how the commercials that are very careful to say that the *calculations *are gauranteed, MadPansy64, not that your return is. Clever of them. I work with accounting software, and we make much the same claim. Only the calcs are good; your data might suck eggs and that’s your problem.

I do have some 1099 work that’ll be on there (about $1200), but it seems that this sort of thing will also be covered, so that’s good.

Some of you have noted that next year I can deduct the cost of the software; is that also the case this year? Meaning, can I deduct the cost of last year’s tax preparation (H&R Block fee)? Or is that more of a payment in exchange for services, and thus, not deductible?

About how long does it take y’all to complete? How much time should I devote to this? Again, we really don’t have anything too complicated, and it takes about an hour, hour and a half when we go to the tax prep place.

Thanks guys.

I’ve used the TurboTax online prep for a few years now and really enjoy it. As mentioned, you can import your data from previous years to save time. On top of that, depending on your employer/banking institutions, you can have that data automatically imported as well.

They have changed the format a bit this year, much to its improvement, and everything is categorized neatly so you know exactly where to go for what you need to enter.

I would imagine that if you have all your paperwork in order, it should not take you more than an hour and a half to complete. It is taking us a bit longer this year because of our new home office for the wife plus our newly adopted son.

I am not a tax attorney, but yes, you can deduct the cost of your tax preparations/software. I believe it is the amount you spent in the previous year that is applied to the next year’s taxes, but I’m not 100% on that.

The other ‘neat’ feature is that you can see the amount of your refund/how much you owe as you enter each value (HELLO $11,000+ refund, another reason why I love my new son so much :slight_smile: ).

I use TaxAct (http://www.taxact.com/). All tax software is the same, so you choose by price, and TaxAct is free (there are charges if you want to use it for state taxes and electronic filing).

I refuse to pay to have my taxes done. I’m not going to spend money to get my own money back, especially since I can do as good a job as any tax service.

Admittedly, my taxes are relatively easy – standard deduction, little interest income. Some business income, but that’s not hard to do – just keep track of all your expenses.

If TaxAct charged me for the software, I’d go back to doing it myself. It really isn’t all that hard if you have any grasp of your expenses at all.

I did mine last night with TurboTax (previously I’d always free-e-filed with H&R Block, but now with the house I wanted a little extra help). Took me about an hour. They do expect you to pay to e-file and hide how much it is until, I assume, the penultimate moment - I don’t know because I said “screw this crap” and paper filed. It was very easy and even found a state tax credit for my drip irrigation system for me!

Looking at buying QuickTax this year, five returns for $40.00 more or less.

First time I’ve used software…any other Canadians tried it?

TurboTax user speaking.

You should be able to deduct the H&R Block fees. HOWEVER, that goes near the bottom of the Schedule A in the same area as things like safe-deposit box fees and is subject to some percentage of your AGI before anything can be deducted. I want to say 2% (as in, if your AGI is 100K a year, only expenses that exceed 2K can be deducted) but don’t quote me on that. Our stuff has never added up to anything like 2% so we’ve never deducted anything in that area of the form. We will this year because we have some unusual expenses from my mother’s estate.

Once you have all your stuff gathered, it really should only take an hour or two. We do ours sort of piecemeal - one big run in early January, importing things from Quicken and plugging in what we have, then we input other figures as they come available.

The big thing is: print everything off once you’ve drafted it, and go through with a fine tooth comb to make sure you’ve input everything correctly - I’ve caught numerous errors (made by me) that way.

TT is also pretty good about asking “Did you do xxx this year?” which can help you remember stuff that would have otherwise been forgotten. Which is another advantage vs. H&R Block - if you’ve forgotten paperwork, for example, it’s easier to reach over and rummage through the filing cabinet / pizza box / random stack of paper when you’re right at home, than when you’re at the H&R Block office.

Someone on another thread (Inkleberry?) mentioned they like doing taxes. I sort of do also. Must be genetic - my mother was a tax accountant. Maybe we’re just a family of mutants :slight_smile: Anyway, it’s sort of fun to plug all the stuff in.

Yep. Worked fine for me. Although I used the web-based version. That saves having to buy an upgrade and install it every year. Plus they save the data for you so next year you don’t have to re-enter the basic information. Also since it’s web-based you can work on your taxes from anywhere. At work, just as an example. :smiley:

At the risk of looking stupid, what’s a web based version?