Despite the fact I use the Internet for almost anything, I’ve never seen the benefit in using it for tax returns. A paper copy and a stamp seems easier and just as quick to send out. And I really don’t want to speed up the overall process as I usually owe money.
As for Turbo Tax, this year Intuit sent me a demo version. It pulled the data from my Quicken database and got my taxes badly WRONG, so there is no way I’m using that. It doesn’t handle foreign currencies (or you have to do some magic trick I don’t know about), whereas Quicken does. So Turbo will take, for example, £1,000 in income and treat it as being $1,000.
I finally bit the bullet and tried Turbo Tax last year and found much to my surprise that I loved it! I’ve always been a bit slow to change from the old tried and true method which up until then was the paper and pencil method.
My taxes are pretty complicated with several small businesses, rental income and the like. Turbo Tax worked flawlessly and already knew what schedules I needed to fill out this year.
I also like it because I can play around with the deductions and get instant feedback for the best outcome.
I concur, especially on the “saves me substantially more than his fee” part. In addition my CPA will represent his clients in any audit or legal proceeding. Part of his service; he’s an income tax specialist. Not to mention the fact that he carries malpractice insurance, so I’m not actually stuck if it’s his mistake on my tax return - a chance of zero in a million, in my book.