Tax Filing Software - What's Your Fav?

[mmbrad02]

Disclaimer - I'm a bachelor degree holding Accountant and I don't do my own taxes. There, I said it. For what it's worth, I work in manufacturing accounting and I do not deal with taxes during my 8-5 job, so I don't stay up to date on all the in's and out's of it. Even in college, Personal Tax and Corporate Tax were my least favorite classes.

That said, It's time that I do my own My husband and I have been married for 22 years, 1 child, and our taxes are so simple it's silly that I don't do them. We have a mortgage, a few 1099's, some church tithes, and that's about it. I Just don't like to worry about them honestly, and I've always had what I consider a very affordable tax guy do them. But the thing is, he is in my hometown (3 hours from where we live now) and he isn't getting any younger. Taxes are his retirement job, to start with. So I've decided this year is the year.

Once upon a time, like in 2004 or something, I did do our taxes one year. I used Turbotax that year and it seemed to go fine. However, back then my tax guy was almost as cheap as the software so I just decided not to continue doing them myself. However, we have increased our documents and he has increased his prices too.

So that's a lot of information to say - what's your preferred software to use? I saw Amazon has Turbotax Deluxe + State for $44.99. My supervisor highly touts Tax Act. And Google has led me to names such as Cash App Tax, Tax Slayer, and Free TaxUSA.

And obviously with Amazon I would be paying for the product up front - for all the othes do you pay when you start your taxes or do you pay when you submit/file?

 

[lynxstch]

We have used FreeTaxUSA for years, and never had any problem. Federal is free, state filing is $14.99. They claim to have 24/7 assistance but we've never used them. Every year it fills in pertinent info and we just have to add in the figures for this year, and click a lot of boxes.

 

[_19disnA]

For several years I used Turbo Tax and now use H&R block's software. I can't recall exactly why but think I switched when one was offered at a lower price. Both are very convenient to use and even if you need some obscure forms, they have all of it available. You purchase either of them to start the tax process. If you buy early in the year they usually offer a discount. Used to be a CD they would send you, but now the downloads are done online. H&R block also lets you know if updates have been issued by the government since often times forms aren't finalized until sometime in February. I would never submit my taxes until all forms are finalized. Personally, I don't care to use any website to do my taxes and have all of that information online where the potential for hacking is much greater, especially since it has things like SS#/address/income......etc. that I feel more comfortable having on my home computer.

One advantage to keeping the same product each year is that if some figure from a prior year's return is needed, it automatically picks that up from the forms previously stored on your PC.

The great thing with all of those is you simply input the required information from whatever tax documents you have and they enter all of the data on the appropriate forms. You also do not need to wait to get every document before starting to do the input. I input things as they arrive usually in Jan/Feb timeframe. Honestly, unless you own a business or have some unusually complicated income/deductions, you can do the entire thing on your own. Have never paid an accountant to do this for me and never saw any reason to do that.

Filing the Federal forms electronically is free, but they charge extra to submit the State forms, so I just print/mail those instead.

Am not an accountant, but don't feel like you need to be one to do your own taxes in most cases. Unlike when using the federal forms and trying to do it manually, both Turbo Tax and H&R Block guide you through the process by answering simple questions and filling in the required data. Only the things that apply show up for you to complete. When I used to do my taxes manually, the Federal instructions often seemed vague or misleading. Using the software eliminates that problem.

 

[soccerdad72]

I'm also an accountant, but not a tax expert. I also don't do our own taxes, but that's because they're complicated and my wife's firm (she's a Big 4 CPA) does them for us as a perk of partnership. I do, however, prepare taxes for 4 or 5 others - family and friends.

TurboTax is the industry standard. It's good, robust and easy to use, but you don't have to buy it off of Amazon. You can just use their online version.

I have also used exTaxReturn, TaxSlayer and FreeTaxUSA and they're both fine. Of those, I liked TaxSlayer the most. Actually, I think I saw that the IRS even started their own site for online tax filing as well.

 

[EACarlson]

If a payment is required, you pay when they file on your behalf. I have used TaxAct and TurboTax. I actually usually run the numbers in both and then decide which I'm going to pay for based on what their numbers say. I have a side business that results in me having to pay, but many if not most people can file at no cost. Last year I think it cost me like $25 with TaxAct after CC benefits and discounts.

 

[tink2424]

I like TurboTax and have used it for over 10 years. I'm sure there is cheaper software but I'm no expert and I'm used to TurboTax at this point.

 

[TippyThomas]

TurboTax for me.

 

[eticketplease]

I like TurboTax and have used it for over 10 years. I'm sure there is cheaper software but I'm no expert and I'm used to TurboTax at this point.

I'm in your camp albeit a much longer user lol

 

[gmi3804]

I'm no accountant, but is filing your own taxes as easy as taking each earnings statement (salary and investment) and filling in the blanks? We have several brokerage accounts with Merrill Lynch, and they provide the tax forms from our portfolios. I also have a Family Trust, which is filed separately. Is this something I could do on my own? We pay an accountant upwards of $1,000/year to do this, and I'm thinking I could do this myself. DH is retired and doesn't have a salary anymore, and I'm self-employed (real estate broker) and receive a 1099 from my managing Broker. office.

 

[TheChanClan]

I've been using TurboTax for the last several years. One year I wasn't sure if the results were correct so I it took it to a tax consultant. His fee was much more expensive and the results were quite similar, so I must be using TurboTax correctly.

 

[Lumpy1106]

We use Turbo Tax just because we have always used TurboTax. It copies the information from the prior year which saves a good bit of time. If it ain't broke, don't fix it.

Word to the wise though; our taxes are dead simple. If you are like my DM and have recently lost a spouse, or have some other crazy tax situation, hire a professional. It took my DM years to get everything sorted out to the point where her taxes are simple again.

 

[BostonEd]

I'm no accountant, but is filing your own taxes as easy as taking each earnings statement (salary and investment) and filling in the blanks? We have several brokerage accounts with Merrill Lynch, and they provide the tax forms from our portfolios. I also have a Family Trust, which is filed separately. Is this something I could do on my own? We pay an accountant upwards of $1,000/year to do this, and I'm thinking I could do this myself. DH is retired and doesn't have a salary anymore, and I'm self-employed (real estate broker) and receive a 1099 from my managing Broker. office.

I can't respond about the Family Trust. But for your personal taxes, Turbo Tax can definitely handle that, and in fact it might even be overkill. I'm pretty sure you can try it out and input all your information before paying. Depending on when you bought your securities, Turbo Tax will even suck in your cost basis when you upload your Merrill Lynch info, if you sold any in 2023.

 

[Dan Murphy]

I've used TurboTax for many, many years.

I do buy it off Amazon, they do have a disk or just a download. I prefer to have the disc, same price. I always wait until a couple days after Christmas to purchase, price drops $20 for my version, Home and Business. , .

 

[fla4fun]

I used H&R Block the first few years I filed electronically, but one year I received an offer to get Turbo Tax for free (can’t remember if it was through my bank or a cc or what) so I tried it. I have been using it since then.

 

[soccerdad72]

I'm no accountant, but is filing your own taxes as easy as taking each earnings statement (salary and investment) and filling in the blanks? We have several brokerage accounts with Merrill Lynch, and they provide the tax forms from our portfolios. I also have a Family Trust, which is filed separately. Is this something I could do on my own? We pay an accountant upwards of $1,000/year to do this, and I'm thinking I could do this myself. DH is retired and doesn't have a salary anymore, and I'm self-employed (real estate broker) and receive a 1099 from my managing Broker. office.

Generally speaking, yes, most people should be able to follow the step-by-step instructions on tax software (most of them walk you through everything) and file their own taxes.

 

[eticketplease]

Generally speaking, yes, most people should be able to follow the step-by-step instructions on tax software (most of them walk you through everything) and file their own taxes.

Agreed and if there was a form that you received you can search for it. TurboTax is all I have experience with but it will show you where you can enter that information in case you skipped it when they were asking questions.

 

[Dan Murphy]

I'm no accountant, but is filing your own taxes as easy as taking each earnings statement (salary and investment) and filling in the blanks? We have several brokerage accounts with Merrill Lynch, and they provide the tax forms from our portfolios. I also have a Family Trust, which is filed separately. Is this something I could do on my own? We pay an accountant upwards of $1,000/year to do this, and I'm thinking I could do this myself. DH is retired and doesn't have a salary anymore, and I'm self-employed (real estate broker) and receive a 1099 from my managing Broker. office.

For everything except the trust, TurboTax Home and Business version is your choice.

If you are the trustee of the trust and filing the trust return, you would also need TurboTax Business version. If you are just the recipient of trust income, the Home and Business will suffice.

https://turbotax.intuit.com/personal-taxes/compare/desktop/

 

[Kestryl]

I used Turbo Tax for a while when I qualified for the free option, but at some point I crossed an income barrier and it was no longer free- but H&R Block was, so I switched to them.

I've had to pay the past few years because we got switched to an HSA- looks like it's $35 this year. We don't have a state income tax.

Anyways, we're not super complicated. Married filing separately (student loans income-based repayment), a few 1099-INT and 1099-DIV inputs, stuff for an IRA, HSA.

I will say that we just started filling in stuff for this year, and there is a big in the H&R system on the 1099-INT and 1099-DIV. It keeps saying to enter the Corporate Name, even if the name is already listed. For whatever reason, it throws that error if you fill in "$0" in any of the boxes where it shouldn't be $0. I submitted a bug report but haven't heard anything back yet.

 

[Kitty 34]

My oldest DS does out taxes and uses Turbo Tax.

 

[eticketplease]

I used Turbo Tax for a while when I qualified for the free option, but at some point I crossed an income barrier and it was no longer free- but H&R Block was, so I switched to them.

I've had to pay the past few years because we got switched to an HSA- looks like it's $35 this year. We don't have a state income tax.

Anyways, we're not super complicated. Married filing separately (student loans income-based repayment), a few 1099-INT and 1099-DIV inputs, stuff for an IRA, HSA.

I will say that we just started filling in stuff for this year, and there is a big in the H&R system on the 1099-INT and 1099-DIV. It keeps saying to enter the Corporate Name, even if the name is already listed. For whatever reason, it throws that error if you fill in "$0" in any of the boxes where it shouldn't be $0. I submitted a bug report but haven't heard anything back yet.

HSA should help your tax situation not hurt it. Might want to talk with your employer and make sure any withdraws are done for qualified expenses.