How hard is it to do your own taxes? I keep hearing about Turbo Tax and that it is so easy, but like most things I know of when it sounds to easy to be true it usually is.
How hard is it to do your own taxes? I keep hearing about Turbo Tax and that it is so easy, but like most things I know of when it sounds to easy to be true it usually is.
I've used Turbo Tax software, Tax Cut software and H&R Block directly, and to me if you have straight forward taxes then the software is just as good as in the in store; if you watch them it looks like they're using the same type of program anyway, plus if you use the software you can pay extra to have them audit it. Ultimately if you have a regular accountant that you usually take it to I would stick with that.
It depends on the forms you need to use, how comfortable you are with e-file and the system you are currently using.Originally Posted by farmhand
For me, I've used turbo tax and HR block. I found the HR block to be more reliable. Seems like the last few years Turbo Tax has really hacked me off.
The worst thing is having to download forms while using the software. Turbo tax has always insisted on downloading current forms. I don't understand why I bought the CD if it doesn't have the current forms. I don't like to log on to thier site and allow them access to my personal financial information.
The more income streams you have the more complicated your taxes are. Turbo tax would have you think that you can't miss anything if you use thier progam, not so. Several years ago I got a letter from the IRS asking me for over 40,000.00$ in back taxes (that is a very sick feeling). I thank (blame) Turbo Tax, however I have to take responsibility for the problem as the IRS holds me accountable. Of course I owed nothing, but there are no easy solutions when dealing with the IRS. It took a few months but I got it straightened out with no help from TT.
You may, depending on you tax situation, be able to puirchase the software for around 20$. If this is the case you may want to use it. If you have several investments, rental properties, inheritance or a business you would probably already have some kind of tax software or an accountant, if not your softaware is going to cost more and it's only good for that tax year.
I've done my own taxes since I was 15. Turbo Tax seems super easy to me because I used to do it on paper. I don't know if I could go back to that now though!
I've done my own income tax returns all my life. I've asked for "professional" help 3 times in my life. The first year we owned a home (1969 before the days of personal computers), I went to H&R Block. The guy did the return, then had to send it in to a central office to be checked, and then mailed to me to sign and send to the IRS. When they sent it to me, they said it had some errors. That was an understatement because half the forms were mine and half had someone else's name on them. They did refund what I had paid them, and I did my own return. Then the year I retired and sold a home, I did them myself, but decided it might be worth paying a real accountant, to check and/or correct. Well, he asked questions for nearly an hour, then said I had it all done, that he couldn't help me, and no charge. The third time was the first year we had some farm income and expenses. I did the returns, then talked to an accountant, and left everything with him to review. Again, he said it was all done right and no charge.
I can't remember when I first started using it, but I've been using Turbo Tax Deluxe for many, many years, file electronically, refund direct deposited.
We always have done our own taxes, and for us, dealing with software was more complicated than just doing it! If you have complicated finances, those other routes might be helpful.
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