Which is better--Turbo Tax or go to an "expert"?
One time I went to H&R Block and it totally seemed like I knew more about my taxes than the guy doing them. But since I have a regular job, am recently married, and am also self-employed as a consultant, my taxes are a little more complicated than they used to be. Is Turbo Tax sufficient or are the experts worth the extra cash?
We had ours done by someone who came to our home, for many years. I always thought it was better than taking all the little bits of paper to some office, because there would always be something left at home. I have been using Turbo tax for about ten or more years, and I like it very much because I can do it at my own speed and make any corrections before sending it off.
Also there is access to files of information that answer questions, and, if necessary, you can email an expert who will guide you to the right info. I have found it easy and complete.
If you're confident in your ability then you should do your taxes yourself as you will save money. Self-employment can be a little more complicated, but not always. As long as you have all your documentation and check everything at least twice, I would say that doing your own taxes should not be a problem.
If you are looking for every deduction under the sun, realize that you are begging for an audit whether you do your own taxes or not.
You don't have to go to a doctor everytime you have a cold. If you have a simple return and can follow the instructions, doing your own taxes is probably a good idea.
But, even TurboTax, with it's prompts and questions can still be challenging if you have a complex return. You have to understand the questions to answer them correctly. Sometimes you have to know where to look to start the list of questions for the particular type of income you want to report or deduction you are entitled to take. Stock trades, self-employment, real estate, depreciation of property and several other topics require at least a basic understanding of the issues. Even the Secretary of the Treasury, Timothy Geithner, admitted to Congress that he couldn't figure out how to report his foreign income in TurboTax.
Not all software is created equal or as easy to use as another. All tax preparers are not equal either. Like any professional, they all have different training and experience. You need to find the right program or professional for you.
by Jim Higgins 5 years ago
Do you prepare your own income tax returns or pay a professional to do it?I jsut went through the ordeal. We tried Turbo Tax this year, and the fee was only $65.00, as opposed to $300 to 400 for a non-CPA and who knows how much for one of those.
by Tim Mitchell 16 months ago
Have you got your taxes done and out of the way?I will get mine off tomorrow. Whew!
by LoriSoard 6 years ago
If you use software to do your taxes, what do you use?I've always used TurboTax, but they are so expensive. However, as a freelance writer and web designer, I do need a software that allows me to input my sole proprietor business income/expenses etc. I also need something easy to use because we...
by yenajeon 7 years ago
How do you file your taxes?Do you do them yourself? Use a software like Turbo Tax? Or do you take them to a professional? I heard that a professional can help you maximize your return. What are your experiences?
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