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Chipdip Offline
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Post: #1
Turbotax
In the past I've had a local accountant do my taxes because I had to file a 1099 and could claim a lot of home office stuff (red flag IRS stuff). I opted to do it myself this year, file the 1099 and skip the home office deductions. Did them today. Everything went well, and the cost savings between Turbotax and the accountant was worth it.

I'm still concerned that I might I have some oversights. At the end it accesses your risk of audit and it was virtually nothing (probably in the category of random audits).

My question. Has anyone here filed (itemized) through Turbotax, and did everything go smoothly?
02-19-2012 03:41 PM
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EA3 Offline
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Post: #2
RE: Turbotax
I've done it twice and haven't had a significant problem. I did have a friend who is an accountant review them.

The only issue I had was that I used turbotax one year to complete the taxes on a rental property that I own with two friends. The first year was fine. However, if I remember correctly, I opted not to pay an update fee for the small business version. Subsequently, my tax return had the previous year on all the forms. I had to call the IRS, inform them of my mistake and send a new one with the correct year. It was my own fault for thinking I could buy turbo tax and never have to pay a fee again.
02-19-2012 04:49 PM
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broncofan1 Offline
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Post: #3
RE: Turbotax
I've done it every year for the last five, and I've never had a problem.
02-19-2012 05:27 PM
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Chipdip Offline
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RE: Turbotax
I feel better now. Sounds like your return was a bit more complex than mine E3. Thanks for the feedback.

My wife is big time penny pincher, but when it comes to the IRS she's saying, "I'd rather be safe and pay the extra money." This time I decided to be the penny pincher. If I don't hear from the feds then I'm probably going to continue using it in the future.
02-19-2012 06:49 PM
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EA3 Offline
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RE: Turbotax
I always had a family friend that helped me with my taxes. Until I got into my late 20's and realized I should probably get with the times and figure it out myself. Turbo tax was easy. Then I acquired the rental property, had two kids, got married, and started my own business, all in the last 4 or so years. Once all those things happened, I caved and hired someone. I need an accountant for my current business anyhow.
02-19-2012 08:06 PM
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Flashboski Offline
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Re: Turbotax
I've filed itemized returns via the Turbotax website for the past 7 years. Never had a problem and I've always gotten my refund super fast.
02-19-2012 08:32 PM
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Chipdip Offline
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RE: Turbotax
(02-19-2012 08:32 PM)Flashboski Wrote:  I've filed itemized returns via the Turbotax website for the past 7 years. Never had a problem and I've always gotten my refund super fast.

It's always been 2 weeks when I've efiled through our accountant. Does super fast mean I should go shopping for a new set of irons next week or the week after?
02-19-2012 09:00 PM
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brovol Offline
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Post: #8
RE: Turbotax
My wife and I have used TurboTax for too many years to remember. When I was a practicing lawyer, itemizing was significant. I had a private practice, but was also employed as a prosecutor for the county. TurboTax is always relatively easy to follow; and it allows you to transfer information from year to year, so it saves a lot of work after you use it for a few years.

TurboTax also provides audit alerts, and does year to year comparisons for each section. One thing that has bothered me a little though is that it is different each year in terms of form. It never looks exactly the same.

I still use it since becoming a judge, but my taxes are a lot simpler now, so I dont appreciate it as much. I tell people who take their taxes to non-cpa's that they might want to try TurboTax one time to see what they think; even if they have already taken them to the "tax preparer". Those tax preparers are using software virtually identical to TurboTax, and may not be as conscientious as you will be with submitting information.
(This post was last modified: 02-19-2012 09:19 PM by brovol.)
02-19-2012 09:08 PM
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brovol Offline
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RE: Turbotax
(02-19-2012 09:00 PM)Chipdip Wrote:  
(02-19-2012 08:32 PM)Flashboski Wrote:  I've filed itemized returns via the Turbotax website for the past 7 years. Never had a problem and I've always gotten my refund super fast.

It's always been 2 weeks when I've efiled through our accountant. Does super fast mean I should go shopping for a new set of irons next week or the week after?

I think the IRS processes the refunds the same, whether its through an accountant or self filed. And new clubs wont help your swing Dip. A lesson would be a better investment for your golf game.
02-19-2012 09:17 PM
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Chipdip Offline
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RE: Turbotax
Quote:A lesson would be a better investment for your golf game.
Watch it judge. Nothing wrong with my golf game that 10 years of rolling back the clock couldn't cure. Wasn't that long ago when I could reach a short par four (wind aided) in 1 (and probably 3 putt) or be set up for eagle putts on par 5's. Those days seem to be gone, in spite of way better equipment.

These days I watch my son hit a driver and an 8 iron to a par 5, and I lay up short with a driver and a hybid 4. When I beat him it's by playing smarter, cause the distance thing is out of the question. I can still pull a few 38's and 39's, but they're getting fewer and farther between. Sadly, I'm falling into the stage of life where I take more pleasure in the surroundings and the company than the golf.

That said, if you'd like to play for paychecks, meet me for a round at Angles Crossing in mid-July. 04-cheers

Quote:Those tax preparers are using software virtually identical to TurboTax, and may not be as conscientious as you will be with submitting information.
I said the exact same thing to my wife. 03-idea
(This post was last modified: 02-19-2012 09:38 PM by Chipdip.)
02-19-2012 09:36 PM
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brovol Offline
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RE: Turbotax
(02-19-2012 09:36 PM)Chipdip Wrote:  
Quote:A lesson would be a better investment for your golf game.
Watch it judge. Nothing wrong with my golf game that 10 years of rolling back the clock couldn't cure. Wasn't that long ago when I could reach a short par four (wind aided) in 1 (and probably 3 putt) or be set up for eagle putts on par 5's. Those days seem to be gone, in spite of way better equipment.

These days I watch my son hit a driver and an 8 iron to a par 5, and I lay up short with a driver and a hybid 4. When I beat him it's by playing smarter, cause the distance thing is out of the question. I can still pull a few 38's and 39's, but they're getting fewer and farther between. Sadly, I'm falling into the stage of life where I take more pleasure in the surroundings and the company than the golf.

That said, if you'd like to play for paychecks, meet me for a round at Angles Crossing in mid-July. 04-cheers

Quote:Those tax preparers are using software virtually identical to TurboTax, and may not be as conscientious as you will be with submitting information.
I said the exact same thing to my wife. 03-idea

I would love to play golf with you one day Dip; however, I dont gamble much, and when I do it is because I have the unfair advantage. I am satisfied with anything in the 40's for nine, and delighted with low 40's. If you can even think about scoring in the 30's, you are well beyond my level. So no bets. My wife grabs my check anyway, and just gives me what I need to get by.
02-19-2012 10:00 PM
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Chipdip Offline
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Post: #12
RE: Turbotax
You wouldn't want my paycheck anyway. And I've never shot lower than 41 from the whites at Angles, so 30's won't happen there. Now States Golf Course up the street, then we might both break 40. Fairways like runways.

Quote:My wife grabs my check anyway, and just gives me what I need to get by.
I pay all of the online bills which is the vast majority. So I just transfer most of her paycheck into my account and tell her.........."Lot of bills this pay period Hon. Make sure you go easy on the spending." 03-shhhh

I keep trying to teach her online banking, paying bills online, etc. She prefers writing checks and living in the dark ages.
02-19-2012 10:13 PM
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DesertBronco Offline
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Post: #13
RE: Turbotax
(02-19-2012 03:41 PM)Chipdip Wrote:  In the past I've had a local accountant do my taxes because I had to file a 1099 and could claim a lot of home office stuff (red flag IRS stuff). I opted to do it myself this year, file the 1099 and skip the home office deductions. Did them today. Everything went well, and the cost savings between Turbotax and the accountant was worth it.

I'm still concerned that I might I have some oversights. At the end it accesses your risk of audit and it was virtually nothing (probably in the category of random audits).

My question. Has anyone here filed (itemized) through Turbotax, and did everything go smoothly?

03-lmfao 03-lmfao
04-cheers

You're a total tool.
02-19-2012 10:52 PM
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Hiller4Hyz09 Offline
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Post: #14
RE: Turbotax
Never hurts to support local accountants.
02-19-2012 10:52 PM
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Chipdip Offline
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RE: Turbotax
(02-19-2012 10:52 PM)DesertBronco Wrote:  
(02-19-2012 03:41 PM)Chipdip Wrote:  In the past I've had a local accountant do my taxes because I had to file a 1099 and could claim a lot of home office stuff (red flag IRS stuff). I opted to do it myself this year, file the 1099 and skip the home office deductions. Did them today. Everything went well, and the cost savings between Turbotax and the accountant was worth it.

I'm still concerned that I might I have some oversights. At the end it accesses your risk of audit and it was virtually nothing (probably in the category of random audits).

My question. Has anyone here filed (itemized) through Turbotax, and did everything go smoothly?

03-lmfao 03-lmfao
04-cheers

You're a total tool.

Bit late with your smartazz comments 05-footinmouth

Jack Benny- Timing is everything
02-20-2012 12:56 AM
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floridabronco Offline
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RE: Turbotax
Use TurboTax Premier every year. Have rental properties back in Michigan and have also claimed a home office. No problems over many years.
02-20-2012 01:44 PM
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stdatwmu Offline
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Post: #17
RE: Turbotax
I've used it every year since 2001 and have never had an issue. Been itemizing since we bought a house and it's worked great. No complaints here.

Also, search around, you can usually find links/codes that'll save you a decent chunk of change (30% or more) off the cost.
02-21-2012 01:26 AM
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JerrySeymoursParoleOfficer Offline
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Post: #18
RE: Turbotax
I suppose the accountant should chime in here....

I've been a CPA for 6 years now and I advise all of my family to use turbo tax.

There have been some friend of mine that have come to me as well for itemized taxes and I tell them to just take the time to learn it themselves through Turbo Tax.

Unless you have some really complicated tax situations, are really lazy, or just really stupid... you should do them yourselves.

And with all the the tax software I've seen, TurboTax is by far the best and the easiest.
02-21-2012 11:43 AM
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Hiller4Hyz09 Offline
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RE: Turbotax
ouch.
02-21-2012 01:37 PM
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notauser Offline
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RE: Turbotax
All a CPA is is a license to sign off on an audit of a public company, really nothing to do with taxes though many Americans think it does. That doesn't mean you have to have a CPA to work on an audit, just sign. I was stunned to find out how many audit managers at accounting firms didn't even have the designation.

Audits can crop up years later... but I wouldn't sweat it. If you were honest you shouldn't have any problems.

The ADVANTAGE to using an accountant is that they will often meet with the IRS for you if you are audited from a return they filed. That doesn't mean they're responsible (unless it was their mistake) for any fees, penalties or criminal charges you'd face.
03-08-2012 10:14 AM
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