So tax season is on and I admit Im becoming for tight with my money! So instead of going to my tax preparer, Im thinking about trying out the turbo tax software.

So my question is, did any i-club peep in any i-club local chapter tried this out? Was there any conflicts the following year or any flaws to the system? ANy insight's good or bad is welcomed. I've researched on it and want to hear from people I know and trust!

 

I use it every year. no problems. with the software your previous return is then able to be imported for the next year. Further, if you missed deductions from the previous year I believe you can look at those too after the import. You can also weight your own options rather than paying someone that's just looking for more money. It'll tell you how much in real time you'll receive or have to pay based on the information that you input into it. All necessary forms are completed and called for so you can do your taxes PROPERLY.

 

If you're doing a basic return, I'd say use the free online one. It's free to file for federal and I think to file for state it's $20.

http://turbotax.intuit.com/

 

^^^This, Turbo Tax online is the shiznit!

 

I used to use it every year and found it to be quite easy and intuitive. I like the e-filing option and now it's free for Federal. Just in case you're wondering I don't use it anymore because my wife's occupation complicates our taxes to the point where I have to use a CPA.

 

Thanks for all the info MR. Brown angry man Jon, Jess "Give Jess", toogood and Gavinn!! This is going to be my first time using turbo tax for both my Federal and state.

 

If you get the premiere version I believe it comes with free state or at least it did the previous years

 

Jon, which one are you using??

Does this complications include owning Stocks and mortgage interest?

Jess, I know you own your home in mililani, but I was wondering which one you used for filing for the mortgage interest portion.

 

I used the Deluxe version.

 

Walt, I've been using Turbo Tax software since tax year 2003 and like Jon said it's great b/c it can import your previous years return info. It also does a review to see if there is anything that might draw a red flag for potential audits.

I spoke with a CPA this year & he uses a program that he said costs $10,000. But for my tax returns he said Turbo Tax is good enough. I have a mortgage, some loans, childcare expenses... so not really all that complicated. He said even if I have a photovoltaic system installed on my home this year that turbo tax can still probably take care of all the tax refund & tax credits (which will rollover a few years)... but at that point I may actually opt to use a CPA to make sure I do it correctly & get the money I'm owed.

 

I use either the premiere version or the business one.

 

taxactonline is free for federal. I've used it and turbotax in the past. Good for stock dividends/investments/mortgageinterest/etc. No probs here. Good luck walt. BTW it's step by step.

 

HEy Chris T, Chris K, John and Jess. So I bought the Deluxe version only because I didnt sell any of my stocks and my friends who also had stocks used the Deluxe version. They said only if I sold my stocks, I would have to use the Premiere version of Turbo Tax. Si I just got done with my tax returns and was kinda sketchy about it so what I did was I punched in my W2's from last year to see if it matched up with the numbers that my CPA guy came up with and it was dead on. Any insights on this? I tried googling but didnt yield the results I was looking after 4 hours of searching. FML

But what was weird was when I did it for my mother's W2's..It came out all whacky. I did the same thing, I punched it 2009's w2's, her mortgage, and her SSA 1098(social security benefits) and it didnt come even close to the results that our CPA came up with as far as numbers was concerned. I'm assuming because of her Social Security Benefit's it threw it off! IDK...

 

Hard to say... maybe your mom had other deductions (charitable or otherwise) that could account for the discrepency you noticed.

Try ask her for ALL of the documents she provided to the CPA last year & then input them. There could also be some slight differences between tax year 2009 and 2010 in terms of what may or may not have been deductible at the time since tax laws/credits do change from year to year.

Also, did she receive a state tax refund in tax year 2008? That would have to be counted as income when doing the federal tax returns in 2009.

Anyway, I hear turbo tax is very accurate as long as you go through all the questions. The CPA's don't like it b/c it really slows them down.

 

Thats what I was thinking.