Well it's that time of year where I start gathering all my paperwork for federal taxes. I'm considering using computer software this year has anyone used Turbo Tax? if so how does the software work for you.
Rich.
Rich.
Itemized deductions, Schedule A, miscellaneous deductions, line #21 (tax preparation fees)Can you deduct the cost of this too and where in the software are you supposed to do that?
I'm a CPA and I use TurboTax to do my own personal return and some family members. It's quick, easy, very user friendly and accurate as well. The $20 basic package is suitable for most people and great way to go for someone who isn't afraid of doing their own taxes, it really is something you could do yourself and save money if you are willing to do it. Takes me less than an hour to install it and finish my return. I don't think it would take the average individual more than a couple to a few hours if they know how to turn on a computer and have their paperwork in order and ready to go. It works for even the more complicated returns but if you're running a business or unsure of certain special tax situations or need tax planning advice, I would always recommend you seek out a respectable fellow CPA, we're worth every penny you give us.I use a CPA. Costs about $275 for personal return. He always saves me more in tax than he charges. Turbo tax is good for simple returns but for anything half-way complicated I'd get a tax preparer. My dad uses it but spends hours just figuring out how to install and use the software. Its nice to just turn over the IRS notices, if you get them, to the preparer to deal with.
Ditto. I've done this test as well in the past comparing returns prepared by other CPAs. Actually in a couple cases Turbotax found things the other CPAs missed.I've been using for six years and like it. Had a CPA do mine one year and did it myself with turbotax to check and it came out exactly the same.
Kim