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Best Tax Programs?

Posted by Cliff on from the a-yearly-question dept.

inf0c0m asks: "Now that tax season is upon us again, what sort of tax programs should I be trying out? I've done the tried and true Quicken before, but I was hoping something Open Source, or something that comes highly recommended from other Slashdot users. I've also done some independent contract work this past year, so something that is more friendly in that sense would be nice. Any recommendations?"

6 of 61 comments (clear)

  1. Same as last time we discussed it: a CPA by Just+Some+Guy · · Score: 3, Insightful
    I've also done some independent contract work this past year, so something that is more friendly in that sense would be nice.

    My tax package is named John. The assistant applications are named Steve and Kristi.

    Seriously, why would you work your butt off all year long and then cheat yourself by not using the right tool for the job, specifically a human trained in the ways of the tax code?

    No tax package will ever tell you stuff like "if you only claim 80% of your home office deduction, then you can use the Druss-Knackwurst Act of 1923 to triple your mileage". A good CPA, however, will geek out on your 1040 like a overclocker with a free supply of liquid nitrogen, with the critical difference that your accountant is legally responsible for keeping you on the good side of the IRS.

    Mine says things like "I was laying awake last night trying to figure out how to carry back your dividends from three years ago to count against your liability next year", then will go on to explain it in the same way I tell my coworkers about new CPU developments. Get one like that and keep him or her for the rest of your life: they're worth the price a hundred times over.

    --
    Dewey, what part of this looks like authorities should be involved?
    1. Re:Same as last time we discussed it: a CPA by GoofyBoy · · Score: 2, Insightful

      >Mine says things like "I was laying awake last night trying to figure out how to carry back your dividends from three years ago to count against your liability next year"

      I actually don't want my CPA to say this.

      I want him to say: "We are going to carry back your dividends to reduce your liabilities. I've done this before so its pretty routine now." You don't want your tax return be the one he learns how do to something.

      >then will go on to explain it in the same way I tell my coworkers about new CPU developments.

      This I agree with.

      --
      The surprise isn't how often we make bad choices; the surprise is how seldom they defeat us.
    2. Re:Same as last time we discussed it: a CPA by GoofyBoy · · Score: 2, Insightful

      Communication is important, but I was commenting on his experience.

      You want a CPA/doctor/lawyer/candlestick-maker to have done the hard things before and not use you as a test case.

      --
      The surprise isn't how often we make bad choices; the surprise is how seldom they defeat us.
  2. Waste of money unless your taxes are simple by austad · · Score: 3, Insightful

    Mine are not simple. I tried both Taxcut and the Quicken/Intuit one a couple years ago, and it said I had a $4200 refund coming to me. I took my stuff to a tax guy, and I ended up getting over $6k back.

    Go to a real tax guy, not one of those H&R block things. They will hire anyone, give them a couple days of training and send them out to do your taxes. My tax guy charges me $130. He sends me a postage paid envelope in January every year, I drop my stuff in, he calls me with questions, then when it's ready I go in and sign it. I just drop the tax stuff I need in the envelope as it comes in the mail, print out any 401k or stock market stuff I need, and send it off.

    No computer program can be a substitute for a guy with 20 years of experience doing taxes. He'll find deductions you never knew you could take. Deductions add up quickly if you're in a high tax bracket.

    --
    Need Free Juniper/NetScreen Support? JuniperForum
    1. Re:Waste of money unless your taxes are simple by TykeClone · · Score: 2, Insightful
      Deductions add up quickly if you're in a high tax bracket.

      For now.

      If you're in too high of a tax bracket, you'll get nabbed by the Alternative Minimum Tax which makes your deductions disappear in a puff of smoke.

      The nice thing about the AMT is that it was created in the 1970's, but never indexed to inflation - as time goes on, more and more people get caught by it.

      --
      A fine is a tax you pay for doing wrong and a tax is a fine you pay for doing all right.
  3. Re:H&R TaxCut by (trb001) · · Score: 2, Insightful

    The simple fact is that most people don't really need tax software. It's not that hard to do by hand.

    Absolutely the truth, and anyone using a tax program should meticulously scour the resulting generated forms and make sure you *understand* what the amounts being entered in all the boxes mean. The IRS won't question the program you used if they find a discrepancy, they'll come after *you*.

    That being said, I loved using TurboTax last year; it was my first year with a mortgage, and it was very easy to just enter numbers, change them around, then have TT spit out the forms for me to mail in.

    --trb