[MacosNerd]

I have my taxes 99% done. I'm just waiting for one more W2. I filed the information in based on my last paycheck of the year but to get accurate information I need the W2. Hopefully by next week I'll be transmitting my return to the IRS and getting $$ a couple of weeks

TurboTax makes the whole processes so easy.

[Cold Warrior]

What product did you use -- free, deluxe, premier? I've used them in the past four years or so, and have three W2's for 2007, a couple dividend-paying mutual funds, and one investment I cashed out (at a loss).

[Railroader]

I've been using TurboTax for a number of years. It's nice having it import last year's data. Also, I find their explanations for certain complex parts of the tax code to be clear and simple.

[MacosNerd]

I use the deluxe because it includes the state return. At this point I don't even know the difference, I just buy the product when its available.

[residentEvil]

i've been using turbo tax online for 4 years now...love it. i purchase their tax guard too; they use to deduct out of my refund; not sure if they still do.

[Buckaroo]

I have always used TurboTax for many years. This year for the first time I'm trying TaxCut. I still need to load it. I'm waiting for a couple interest slips (whatever they callit).

[zerostar]

Did turbotax, imported last years info, pulled down my tax info online and filed by mail. Now I wait... This is year number 4 or 5 for TurboTax for me.

[osiris]

I have an accountant, so I just bring the books and pray.

[rickey939]

I've used the actual TurboTax program for a few years and loved it. This year, decided to try out the "online" service and found it to be incredible. Easy, fast, secure, and convenient.

[torsoboy]

Originally Posted by Buckaroo 

I have always used TurboTax for many years. This year for the first time I'm trying TaxCut. I still need to load it. I'm waiting for a couple interest slips (whatever they callit).

I would suggest putting your information into both and seeing which gives you the better return. I do this every year and it seems weird, but using the different software gives you different returns. TurboTax has always given me the best return, though this year I am trying something new and I am doing them in TurboTax and taking the stuff to our business accountant... we'll see which one offers a better deal in the end.

With TurboTax Online (and most others) you don't have to pay anything at all unless you actually file with them, so you are free to do the complete return and see the numbers before buying their product. This way you can compare everything through multiple vendors and only pay for the one you file with.

[ghporter]

I've been using the Basic version since 2000 (when I used the online version). It's accurate, easy to use, and logical. My brother-in-law, the accountant, uses it and recommends it.

I'm not even waiting for any particular thing, just for the end of January-by which everything I can foresee coming in will have come in and anything that does come in later will qualify for filing an amendment. Which Turbo Tax handles quite well, I might add.

[MacosNerd]

Originally Posted by osiris 

I have an accountant, so I just bring the books and pray.

My wife, before she was my wife used an accountant. I was surprised what she had to do for the accountant to do her taxes. Basically fill out a survey of her income, expenses, write off, taxes paid etc. Basically this survey was a taxform which the account just used to plug her numbers in to his program. Why pay him > 150 bucks when I did the same thing for 40 bucks.

[SirCastor]

I've used Turbo tax for several years. I used to take my taxes (when I was living with my parents) along with my Mom to a friend of ours. He did our taxes (which was really just putting the stuff in TurboTax) and we took him out to Dinner.

Since I've been on my own, I've always used TurboTax for Federal, and the state system for Utah. (They're both Free, which is the most compelling feature I think). TT has always been a good system. I recommend it.

[olePigeon]

I use TaxAct. It was the "free version of TurboTax" before TurboTax was free. Haven't found a reason to switch. Speaking of taxes, I haven't gotten my W2s yet. I want my return!

[64stang06]

I love TurboTax. Each year it seems to get easier and easier to file and get my return. Amazing what Intuit can do for Mac users

[vmarks]

Originally Posted by MacosNerd 

My wife, before she was my wife used an accountant. I was surprised what she had to do for the accountant to do her taxes. Basically fill out a survey of her income, expenses, write off, taxes paid etc. Basically this survey was a taxform which the account just used to plug her numbers in to his program. Why pay him > 150 bucks when I did the same thing for 40 bucks.

Presumably, you're paying for the expertise of tax law if you have special or unusual circumstances. If you don't have those circumstances, you're right, it's money wasted.

If you do have those circumstances, there may be value in someone who knows the law as opposed to a software box and a help phone line.

[besson3c]

I've used TaxAct too... There are a few free income tax filers, I believe. If your tax situation is straight-forward, it may be worth checking them out.

I don't understand why certain tax return software would return differing results as claimed here. Perhaps I will look into this too if I'm bored

[MacosNerd]

Originally Posted by vmarks 

Presumably, you're paying for the expertise of tax law if you have special or unusual circumstances. If you don't have those circumstances, you're right, it's money wasted.

Nope, my money is not being wasted. TurboTax is a great program that has helped me immensely.

[Trygve]

I wish I could use TurboTax as it costs me over $2,000/yr to have my taxes prepared. I live overseas and have a complex situation with US companies as well as foreign ones. The past few years I have paid more for preparation than actual tax.

[iM@k]

I'm not lovin' it so much as it tells me I owe $86...being single without kids, sucks.

[Kvasir]

Well, I also owe, but combined fed and state (according to TurboTax) is only $82. So, I think I have my withholdings just about smack on. I'd much rather owe them a small amount, then have had them sitting on thousands of my dollars that could have been working in my interests throughout the year, instead of sitting static (from my perspective at least).

[Railroader]

Originally Posted by iM@k 

I'm not lovin' it so much as it tells me I owe $86...being single without kids, sucks.

You'd pay even more if you were married with no kids.

[iM@k]

Originally Posted by Railroader 

You'd pay even more if you were married with no kids.

Originally Posted by Kvasir 

Well, I also owe, but combined fed and state (according to TurboTax) is only $82. So, I think I have my withholdings just about smack on. I'd much rather owe them a small amount, then have had them sitting on thousands of my dollars that could have been working in my interests throughout the year, instead of sitting static (from my perspective at least).

True.

[Eug]

I've done mine online for the past few years. I don't use Quicken's offering though. I use CuteTax up here in Canada. It's much cheaper than buying TurboTax here, and is supported by an excellent set of people with a superfast response time for questions.

I usually don't do mine very early though, cuz I usually have to pay tax, so it makes sense to wait until near the deadline. (Some of the pay I get doesn't have the tax withheld in advance, which is why I usually pay tax at the end of the year.)

Originally Posted by SirCastor 

I've used Turbo tax for several years. I used to take my taxes (when I was living with my parents) along with my Mom to a friend of ours. He did our taxes (which was really just putting the stuff in TurboTax) and we took him out to Dinner.

That's what my GF used to do... except it would cost her more to take her friend out to dinner than buying the software (which is in turn much more expensive than doing it online). Furthermore, my GF's taxes are so simple you can do it in about 10 minutes... and even then her friend did it wrong, despite being a tax accountant. Suffice to say, my GF does her own taxes now.

[torsoboy]

I owe about $25k this year

[powerbook867]

We're going to use TurboTax this year as well for the first time. You guys are making me feel good about the decision...

We did H&R block last year. Talk about a mistake...

a) extremely expensive

b) they screwed up our state return since we my wife works in a different state than we live (didn't cost us anything but our time and aggravation..)

I wouldn't recommend them to someone I hate...

[Big Mac]

H&R Block can't even do its own corporate taxes properly.

[torsoboy]

Originally Posted by Big Mac 

H&R Block can't even do its own corporate taxes properly.

Yeah, that mistake is costing them big-time I'm pretty sure. The worst blunder a tax company can do is file their own taxes incorrectly.

[KeriVit]

Originally Posted by torsoboy 

I owe about $25k this year

Ok, how much does one have to make to owe $25,000? We owe $7,000 off of 60,000 from last year. (Contractor pay)

[Railroader]

Originally Posted by KeriVit 

Ok, how much does one have to make to owe $25,000? We owe $7,000 off of 60,000 from last year. (Contractor pay)

In 2006 my wife and I paid ~$60k in taxes. Our combined income was ~$240k.

EDIT: This year our combined income will be ~$15k and we will pay ~$0 in taxes.

[torsoboy]

Originally Posted by KeriVit 

Ok, how much does one have to make to owe $25,000? We owe $7,000 off of 60,000 from last year. (Contractor pay)

It is about $110k taxable (after deductions). That is for both federal and state. I think it came out to roughly $19,500 for federal and $6k-$7k for state I think.

We don't have all of our papers for it yet, so that is just with the rough numbers plugged in TurboTax.

[MacosNerd]

Originally Posted by torsoboy 

It is about $110k taxable (after deductions). That is for both federal and state. I think it came out to roughly $19,500 for federal and $6k-$7k for state I think..

Did you have any taxes deducted from your paycheck at all, or if your a contractor, send in quarterly payments?

That's a tough pill to swallow Good luck.

I have only one suggestions, what ever you were doing last year to have your taxes paid/deducted. I'd change that and look into how best you can come out at the end of the year w/o owing anything.

[torsoboy]

Originally Posted by MacosNerd 

Did you have any taxes deducted from your paycheck at all, or if your a contractor, send in quarterly payments?

That's a tough pill to swallow Good luck.

I have only one suggestions, what ever you were doing last year to have your taxes paid/deducted. I'd change that and look into how best you can come out at the end of the year w/o owing anything.

We paid about $3k throughout the year, but for the most part we didn't want to pay it. We put the money into a high interest savings account instead and made interest on the money instead of giving it straight to the government. We will get hit with a penalty for not paying enough throughout the year, but the penalty is fairly small and the interest we made makes up for more than the fee is.

Why give them money throughout the year so that they can make money on it, when you could do the same? File an extension till October and make even more on the money you haven't paid them yet.

[MacosNerd]

Oh ok, that makes it sound better. You post made me think that it was a surprise. As long as you were socking away the money to pay the taxes so you wouldn't have an surprises

[hyteckit]

Originally Posted by Railroader 

In 2006 my wife and I paid ~$60k in taxes. Our combined income was ~$240k.

EDIT: This year our combined income will be ~$15k and we will pay ~$0 in taxes.

Haha... I don't know, but I smell Enron here. Someone is cooking their books.

My net income is -$15k, yes negative. Hope to get $15k back in taxes.

[Railroader]

Originally Posted by hyteckit 

Haha... I don't know, but I smell Enron here. Someone is cooking their books.

My net income is -$15k, yes negative. Hope to get $15k back in taxes.

Nope, I worked my tail off so I could retire early. Took a buyout from GM to tip the scales and had to pay a large amount of taxes on it.

Decided to not retire in the next year, but to work as a missionary and that is my current salary of $15k /yr./couple