Topic: Turbo Tax or TaxCut from H&R Block?

[heffay]

well, its that time again 

my business is a general partnership which requires the business version of Turbo Tax or the Home and Business version of H&R Block's Tax Cut.
http://turbotax.intuit.com/small-business-taxes/business.jhtml
http://shop.taxcut.com/servlet/ControllerServlet?Action=DisplayPage&Env=BASE&Locale=en_US&SiteID=taxcut&id=ProductDetailsPage&productID=84141600

the H&R stuff is cheaper by about a third of the price.

any pluses or minuses i should be aware of?

one main question... i know that turbotax can be shared... can H&R Block's software be used for filings for multiple people?

[333]

I have only used TurboTax.  But the best place to get it is CostCo.  I would shy away from  the H&R stuff because I always stay away from products that cut down the competition, rather than tell you why theirs is best.  The ad n TV are so condescending to the people who buy "the box".  If you are really that stoopid, than you shouldn't handle sharp objects, much less your taxes.

[S-Dog]

I have used both, but I now use tax cut because I accidentally bought it 2 years ago and it is easier to X-fer my info from year to year by staying the same.  I actually like turbo tax better. Especially because my wife and I have to file in 2 states.

[tortelvis]

Maybe it's just me, but In only ever used H & R once and had to pay when I had been expecting a refund. Last year my son used them and guess what? He owes money when he was expecting a refund. I use a local woman who worked for the IRS for years and she gets my refund sorted every year, costs about $50!

[heffay]

well, you guys took so damn long   ... i evidently bought the wrong one

on the plus side... tax cut did cost about 60 dollars less than turbo tax would have cost.  hopefully, that is not all recouped by the IRS 

i haven't played w/ it much yet but it does look as though i'll be able to do more returns than just my own. 

also, since i am in a partnership i needed the home and business version which, although i don't need it, i would be able to file more than one state return. 

i'll let you know what i think when taxes are done... if i think i'm owed more money, i might just go to my super-accountant-acquaintance and give that a try... H&R Block says 100% satisfaction guarantee so, i would hope they would honor that if i am not satisfied.

[heffay]

I DID BUY THE WRONG ONE!!!

stupid effing program only told me i needed to do a federal general partnership return... i wasn't sure about that so i did some checking.
i am also required to file the state version of that form, an indiv. fed return AND an indiv. state return.

on top of that, there were no little bubbles to give instruction or tell me where the number might be that i needed to enter in a certain box.
no help whatsoever.

then, to top it all off... had i not just decided to do my own freekin' taxes... it would have had me mail the return to the wrong goddayaum service center!!!!!!!!!!!!

it took me a long time to figure it out and read all the instructions for the returns i needed to file but the HR taxcut was not worth it, AT ALL.
they one thing i am pleased about... they gave me no hassle when i asked for my money back and it was back in my account w/in a few days.

[heffay]

then, to top it all off... had i not just decided to do my own freekin' taxes... it would have had me mail the return to the wrong goddayaum service center!!!!!!!!!!!!

everyone might want to verify their proper site to mail to... they have changed for this year.

[Gordon]

Dude, just pay someone else to do them for you!  A lot of the time an accountant will save you more money than it costs you to pay him/her. 

I know, I know.  Extolling the virtues of paying someone else to do something for you on a website devoted to do-it-yourselfers... Blasphemy!!!!!

But come on, it's TAXES! 

[BobbyR]

What is a refund. Never saw one, anybody have a picture of one? I would like to see what it looks like.

[Gordon]

What is a refund. Never saw one, anybody have a picture of one? I would like to see what it looks like.

I know it sounds exciting, but in reality it looks just like any other money that you owe to someone else.

[BobbyR]

Thanks i was just wondering.

[heffay]

do you want to know how much EVERYONE i called wanted to do my taxes?  300+
and thats if they would even do a general partnership, which many of the big names wouldn't even do...
they are just tax monkeys...

i had no tax due... now why would i pay 300 dollars for that?!

[754]

I usually pay around 300.. worth every penny.. in fact I can never afford not to.. Trying to do it myself would cost me more money plus my time...


Not to mention the excellent advice I get re planning and taking care of things like rental incomes from the shop buiding, it is well worth it..

 What does the refund look like? Take a look at our Bonneville trip, or come and see the ported ,stainless valve, 970 topend I have at the shop.. that is part of the refund..

[Gordon]

i had no tax due... now why would i pay 300 dollars for that?!

Doesn't matter if you owe or not.  A decent accountant can find deductions that you may not know about and get you money back, but you have to have kept any and all receipts for the entire year. 

[heffay]

problem is... i only had income for the last 2 months (meaning very little) and being a partner (even though i made all the income because i was working on his house) my income was halved... meaning even more little!

i have actually done my taxes for much of my life, dad was an accountant so he has helped in the past too... i feel fairly sufficient... i was scared off by the big scary returns but all in all they weren't bad... just didn't make enough last year to be able to deduct or need to pay.  we were required to file though because we filed w/ the IRS when we started the business at the end of the year.

now, for those of you asking why i can't make enough... whispers> i was in school most of the year.   

[754]

Up here, wether or not you make money, you still have to file..

[Gordon]

just didn't make enough last year to be able to deduct or need to pay. 

Gotcha.  When you said "no tax due", I was thinking you already paid it all throughout the year and didn't owe any more.

[heffay]

yea... its really sad... my half was just below the 3k cutoff that i needed to make in order to claim the moula the gov't decided to give out 

i always get screwed somehow. 

[BobbyR]

Heffay, welcome to the middle class. If you get more successful you will fall into the ATM bracket where you will get to deduct nothing. I mean nothing.

[fuzzybutt]

my wife handles all that stuff
she's been a tax preparer for 20 years

[Gordon]

my wife handles all that stuff

Mine too.  She handles it all the way to the mailbox to be sent to the accountant!