DIY Tax software

cowman

cowman

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Years ago I used to do my own taxes using whatever software was free... I think Tax Act and it was fine.

Then I got into dealing with my dad and his mess, then estates, basically 3 different returns across 2 states. Hired a professional because I was just too intimidated to DIY anymore.

Now it's simple-ish again. Just the one return and one state so, especially given what the accountants charge, I am leaning towards just doing it myself again. Looking for suggestions on software..

I have a lot of investments to enter and a few atypical income sources/deductible expenses to enter. I need software that will handle that without too much fuss. Also I want my data stored locally not in the cloud. Anybody got a suggestion?
 
I use H&R Black Tax Cut. They have a couple of different version levels depending on your complexity needs. My state has a free way to file online, so I don't need to buy that add-on.
 
I did mine with the H&R Block Deluxe software. Very straightforward and they have good customer service if you run into any trouble.
 
I've used at least 3 different brands over the years. Can't say one is any better than the others. I still end up reading Regs and interpretations/guidance on anything complicated. The software is just an easy way to get the forms and transfer the numbers as necessary.

I think I used taxact last year.
 
I used turbo tax last year and this year. Pretty easy to do and it can import some of your information like w2 so u don't have to manually enter it.
 
H&R Block tax prep software (with the exception of the business program) does not offer the ability to e-file returns if you need to attach a PDF type file to your personal return. With certain situations, possibly your few atypical income sources/deductible expenses to enter, you may need to attach an explanation page. The H&R Block software can still be used to complete your return; you would just be unable to e-file. The new 1098's including principal balance might cause the need to apportion interest and attach an explanation page as one example.
 
I'm just used Turbo tax Premier yesterday. Filed in two states, sold a house, ran me $100. I did a blind test with my tax lady a coupe years ago and TT was right on the money. She charged $350. Probably not as good as a dedicated accountant could do, but close enough for me to pocked a sizable difference in fees.

I was unable to e-file in AR do to specific forms I needed though.
 
When I skim through the TurboTax site it looks like it uses a bunch of webapps and keeps my data in an account... which implies all the data is stored server side. Is that the case? I really really don't like that, I want to keep it on my own system until I'm ready to file.
 
cowman said:
When I skim through the TurboTax site it looks like it uses a bunch of webapps and keeps my data in an account... which implies all the data is stored server side. Is that the case? I really really don't like that, I want to keep it on my own system until I'm ready to file.
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Go with H&R Block. Everything is stored within the program on your computer. It provides access to import documents and investment account info. Used it for years with no issues.
 
cowman said:
When I skim through the TurboTax site it looks like it uses a bunch of webapps and keeps my data in an account... which implies all the data is stored server side. Is that the case? I really really don't like that, I want to keep it on my own system until I'm ready to file.
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I think all the tax s/w packages offer two different modes: install and run on your own PC, or use their servers.

edit: generally the low end version (1040EZ, for example) are free and online. The rest you have to install and all your data stays with you until you actually file.
 
I use turbotax for my personal, my inlaws and my S corp. Not the online version though, I download the software to my hard drive. You have to hunt around a little bit to find the download option on the site. It's at the bottom of the "start here for free" page.
 
Used Turbo Tax Deluxe for many years until a few years ago when they po'd everyone by raising their prices. Chased many of us long time users away. I went to TaxAct the past two years.
 
I've been using TaxAct for quite a few years now. Up until recently, I always downloaded the software and ran it locally. They don't have that option any more, you have to do it online. I mostly used the free version, except for a couple of years when we had income in more than one state, the paid version includes one free state. My home state (CT) is stupid easy to do, but the NY interstate return is fiendish (the NY state government is fiendish, period), it was worth the money to have the program do it.
 
Almost every office or big box store has CD version of TurboTax on sale.
 
murphey said:
Almost every office or big box store has CD version of TurboTax on sale.
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For personal and sole proprietorships, yeah. If you need sub S, partnership or LLC, it's easier to just download, ridicuolusly bad website process notwithstanding.
 
Even though you showed a skepticism to using an online package, I'd throw in Credit Karma as an option. I use Turbo Tax for the airplane LLC and will use Credit Karma this year for my personal taxes.
 
TaxAct, It flows well and remembers what I did last year so simplify this year.
 
Turbo tax disk or download for me and s corp.
H&r block software blows.
 
I use turbotax but enjoy that my info is stored on their server. Makes every year easier and quicker because everything that you don't need to change is auto-loaded so you just put in new year specific info.
 
Radar Contact said:
I use turbotax but enjoy that my info is stored on their server. Makes every year easier and quicker because everything that you don't need to change is auto-loaded so you just put in new year specific info.
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HR Block and TurboTax will import from your previous year's return even if it's stored locally.

I *think* they will also import from each other's format, too. When I switched from TT to HRB/TaxCut a long time ago I am pretty sure it could import from the TT file, I think they are still capable.
 
Why won't u use the online version? Most of them out there has same bank level encryption standards. Unless u don't do online banking as well.

Sent from my SM-G935V using Tapatalk
 
Find a good certified public accountant. They're well worth the money they charge.
 
Norman said:
Find a good certified public accountant. They're well worth the money they charge.
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In my opinion it depends on how complex your taxes are. Mine are relatively simply. The first year I hit AMT I took my taxes to an accountant and they verified everything I did through turbotax was the best that could be done and welcome to AMT. Tubotax is cheaper than an accountant if you feel comfortable enough doing your own.
 
WannFly said:
Why won't u use the online version? Most of them out there has same bank level encryption standards. Unless u don't do online banking as well.

Sent from my SM-G935V using Tapatalk
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I do online banking, but the bank already has my cash and info. The tax company servers don't. Their info may be as secure as banks', and my home storage might not be, but I just prefer keeping it local if I can.
 
Matthew said:
I do online banking, but the bank already has my cash and info. The tax company servers don't. Their info may be as secure as banks', and my home storage might not be, but I just prefer keeping it local if I can.
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Fair enough. I used turbo tax, both online and offline version for few years and then found a CPA who does it for me for 50 bucks more, totally worth it for the second set of eyes who knows what he is doing. Turbo tax will import from various places as well

Sent from my SM-G935V using Tapatalk
 
cowman said:
When I skim through the TurboTax site it looks like it uses a bunch of webapps and keeps my data in an account... which implies all the data is stored server side. ...
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TurboTax is a good program, but Intuit is a really slimy company. Lots of little tricks and gouges, pop-up advertising, etc. In Canada a few years ago they even tried to sneak an expiration date into one of their user agreements, after which the software would stop working. I'm not going to be surprised if one day they are in court for having compiled and sold customer tax data. Encryption doesn't protect you from that.

My long-time CPA just retired and, fortunately, my last bit of tax complication (a commercial building) has been sold. So I bought the H&R Block software. A little hard to use for a first timer but I gutted through and finished a couple of hours ago. Their little gouge is that Federal E-filing is free but they wanted an extra $20 to E-file my state return. Grrr ... So I'm just mailing everything.
 
Radar Contact said:
In my opinion it depends on how complex your taxes are. Mine are relatively simply. The first year I hit AMT I took my taxes to an accountant and they verified everything I did through turbotax was the best that could be done and welcome to AMT. Tubotax is cheaper than an accountant if you feel comfortable enough doing your own.
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Mine aren't terribly complex but I had been using a tax preparer. The first time she did my taxes she found he had missed a stock sale price and she got me a $2,000 refund. She has my business forever.
 
airdale said:
TurboTax is a good program, but Intuit is a really slimy company. Lots of little tricks and gouges, pop-up advertising, etc. In Canada a few years ago they even tried to sneak an expiration date into one of their user agreements, after which the software would stop working. I'm not going to be surprised if one day they are in court for having compiled and sold customer tax data. Encryption doesn't protect you from that.

My long-time CPA just retired and, fortunately, my last bit of tax complication (a commercial building) has been sold. So I bought the H&R Block software. A little hard to use for a first timer but I gutted through and finished a couple of hours ago. Their little gouge is that Federal E-filing is free but they wanted an extra $20 to E-file my state return. Grrr ... So I'm just mailing everything.
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If you pay an extra $20 you get one State free!!

My State (Kansas) already has a free online filing system through the KS Dep of Revenue website so I have that going for me.
 
airdale said:
TurboTax is a good program, but Intuit is a really slimy company. Lots of little tricks and gouges, pop-up advertising, etc. In Canada a few years ago they even tried to sneak an expiration date into one of their user agreements, after which the software would stop working. I'm not going to be surprised if one day they are in court for having compiled and sold customer tax data. Encryption doesn't protect you from that. . .
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Agreed on Intuit. I used quickbooks for years. I was using a old version and it stopped working after an update. Your data file is locked and you cant open it with another brands software even if you know the password. No tech support for the old versions and you either pay for a new version to get at your file so you can unlock it or start over.
 
Jim_CAK said:
Agreed on Intuit. ...
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Yeah. I was emailing invoices from QB and they were all routed through Intuit's SMTP servers. One day QB announced that to continue emailing invoices I had to "upgrade" to the current version.

With Quicken, more or less the same thing happened. One day they said that online access to my bank account would stop working unless I bought an "upgrade."

No way will I use their tax software and give them even more data to steal.
 
I ended up going with the H&R block software... as it turns out it was actually less work than dealing with the tax preparers who insist on making me fill out a "tax organizer" with all the same information in it. This software was actually able to import a bunch of stuff and pre-fill it for me which did save a lot of time... and given it was about 1/20 the price I feel pretty good about it.

Oh and my aversion to the online version is multi-faceted. I maintain a local redundant storage NAS that I back up to a USB drive regularly which goes in a fireproof safe. All my important documents are there under my control and ease of access. I always want a local copy. Aside from security/privacy concerns, I have wireless rural internet which isn't always reliable and sometimes I need to get something done NOW. Also(likely somewhat for the same reason) I've found web apps to be clunky and buggy to work with. I just don't like web apps.

I guess security wise, my expectation is that the IRS is probably the weakest link in the privacy chain and they have to have this data. I also suppose that really there's nothing in there that's secret.. I'm not sure how knowing how much money I make and how would help/hurt anyone. Still, why hand it over without reason? I've got a pretty good rant on cloud storage and why it's often not as secure as you'd think if anyone wants to hear it. Actually some of these thoughts may deserve their own ranting thread
 
One cent.

That's how much my 19-year-old son netted on his $25 state-tax refund, after TurboTax's $24.99 fee when I e-filed his state return.

I hope he doesn't spend it all in one place!
 
TurboTax this year - handled investments, 1065 forms and a K-1 partnership without any real issues. Highly recommend it.
 
NoHeat said:
One cent.

That's how much my 19-year-old son netted on his $25 state-tax refund, after TurboTax's $24.99 fee when I e-filed his state return.

I hope he doesn't spend it all in one place!
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Well if all that is accurate that just means his withholding is perfect. It's always nice to get money but realistically if you get a refund it just means you overpaid someplace.
 
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