I can’t believe I never did this before. It’s so convenient! The process is very simple and easy even if you declare 1099 dividends and exemptions. Any of you guys do Turbo Tax via the app?
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I've used Turbo Tax before, but not the app. My wife makes most of the money so she normally handles the taxes.💀 PK x Ragnastock 💀 -
I highly recommend it. It’s a seamless process they take you step by step. No confusion at all. Plus best of all: it’s absolutely free.Comment
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Thanks for the heads up, I normally use TurboTax but never the app, I'll keep this in mind in the next monthComment
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Two years ago my wife and I made too much thanks to having a cheap mortgage, no kids, and us both getting a ton of OT and or bonuses working through covid stuff. Couple that with the new tax plan not taking enough out of your check initially, we had to pay in pretty hefty last year.
That being said, we attempted to file taxes with turbo tax, and our pay in amount was roughly $6500.
We decided to cancel that, and take our taxes to a tax professional to see if the 300 service fee was worth what they could save us.
She pretty much told us we dont have much debt to work with, and no kids, so she couldn't do much. But she managed to get us a newly quoted pay in amount of $5,300. So she did save us enough to cover the service fee.
She also gave us tips for how to not have to pay in so much this year. ( pre tax contributions for the win!)
I guess what Im saying is, I personally dont like Turbo Tax after that. Sure its easy, but I think the math they compute isn't exactly accurate.Comment
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If you have not attempted to file taxes by yourself, ie. crunch the numbers, and you would qualify for the Free filing, ie you are just starting to work, I highly recommend attempting it. It's pretty straightforward if all you have is a W2 to file from, and gives you some good experience about what you should expect.
Turbo Tax has gotten more annoying because they lock a lot of the inputs behind their UI these days, previously you could see the tax form in raw. But it is there and you can go back and run the numbers yourself if you want to double check. It's been accurate for me. The biggest advantage I have found for all these self tax programs is they just help to tell you which tax forms you need to use. There can be others that don't pop-up but the standard deduction will probably cover most people. If you need a professional than your tax situation is far more complex than most.
If you just have a W2 and say student loan debt to file TurboTax works great in my book.
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Great points, I should mention that when you begin the process there is an option for “maximizing deductions” whereby a tax professional reviews your application and of course there is a charge for this. But even if you dont select this option and go the free route: I found the process covered everything step by step so it leaves very little room for leaving any potential exemption or credit out. It might also be different for the software. But the app takes you step by step through everything. And yeah of course everyone’s tax situation is different. If you have a complicated tax situation then yes it’s always recommended that you seek professional advice.Comment
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only do on secure computer no phone.
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Make sure to save your tax documents locally as you will have to pay to recover them in most cases.
And they charge you for state taxes.
and just about everything else.
But if you keep it free, its free. If you're a normal chap without a lot of assets its pretty straight forward.Comment
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If you have USAA you get a discount as well, and it all carries over YoY, and I just buy the audit protection. For small business for my consulting + personal + audit it is like maybe 150 bucks?Originally posted by the_matrix_guy View PostComment
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I've been using FreeTaxUSA for nearly a decade. In that time I've moved several times, purchased a few properties, changed states, changed jobs, gotten married, had kids... In some of those years I had deductions that outweighed the standard deduction. Literally the only time I've ever had an issue with my taxes was when I hired a CPA. That dude cost me nearly 2k in his mistakes.
Happy to try this app, though. Curious how they compare.Paintball Selection and Storage - How to make your niche paintball part idea.
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I do it on paper. If I have all my paper work before hand I can do all my taxes including a K-1, multiple W4, itemization, and investments. What helps is having all the needed information before filling the documents out. IDK its not hard...Comment
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Glad they're making things easier. I've avoided TurboTax as my life has gotten more complicated.
My wife and I have always found married filing separate makes more sense for us than jointly. Turbo Tax won't let you file that way very easily.
We used an accounting firm in town last year and we were really impressed with how they got the numbers to work for us. Way better than we had been able to accomplish with TurboTax.
I also hate TurboTax because my parents use them every year because it's 'cheap and easy'. They wait til the last minute to file, make errors because they're in a rush (like literally file hours before deadline) and blame the IRS, not TurboTax when the IRS comes back a year or two later asking for more money because they screwed up their filing... Really, it's on them for not taking taxes more seriously.Last edited by ford; 03-06-2022, 11:53 AM.Comment
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