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Turbo Tax

Posted By: ER MT on 2006-12-30
In Reply to:

Has anyone used Turbo Tax if  you are an IC?  If so, is it easy?  I'm sick of paying my account a ton of money to do my taxes when it takes them about 15 minutes to plug info into the computer and spit the forms back out.  Seems like it could be something I could do myself. 

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Turbo Jam: Has anybody tried the Turbo Jam workout? nm
Turbo tax

If you get the Turbo Tax with the schedule C it will take you through everything.  Basically supplies, equipment, mileage, computer programs,  reference books - sources, internet if needed for work, phone.  Don't know if you are an IC or employee so home office may and may not work for you. 



Get Turbo Tax

If this is your first year it might pay to have a CPA or tax accountant do your taxes for the first year and then from there on out use Turbo Tax.  All the forms are in there to do a Schedule C which is what you will need to do.  Turbo Tax takes you throught it step by step for home office, utliites, supplied, etc.   Or else can go onto IRS internet page and they have all the forms you would need.  But again, first year if it costs $100 to get some advice from a CPA or tax accountant it is well worth it.  I did it for 3 years and then past 15 have done my own with Turbo Tax. 



Used to Use Turbo Tax
When I became an IC I didn't trust myself to know all the deductions that I could take for my home office. My accountant is a friend's husband who charges $100 for our tax returns so to me it's worth it. He saved me so much money the first year, I was impressed. LOL
Turbo Tax vs Tax Cut
I have used Turbo Tax every year but one. The one year we used a tax accountant was when my husband drove truck over-the-road and weren't sure about all the tax deductions. He charged us an arm and a leg, and we did all the work for it. The only year we had to pay in too. We then went back to Turbo Tax. I have heard another MT say last year that she got a bigger tax deduction from using Tax Cut last year, and she compared it with Turbo Tax. I am going to do the same thing - since Tax Cut sent a free CD to us as a promo thing. Worth doing to see which program does it better. Turbo Tax is extremely user friendly. Even my husband, who is not terribly computer literate, was able to hop and do his tax information for his business. Very slick and easy. It totally walks you through depreciation, 401k stuff, extra properties, etc. Very easy!
I think Turbo Tax does
If you have last year's forms to go by I would try it myself.  But that is me.  If you aren't cheating or doing something wrong, why fear doing it yourself.  
Turbo Tax
I'm getting ready to do my taxes and this year will be the first time usnig Turbo Tax.  I'm an IC, single.  Can anyone tell me roughly how long it will take who has used Turbo Tax?  Thanks.
I tried Turbo Tax 2 years ago and STILL
am in awe at how totally cool it is, how EASY it is, even to file itemized and deductions, as well as do your state taxes as well. I used to use an accountant every year, paid him $400 to $500 just to use probably the same software, after having spent weeks compiling all the #s myself anyway. I was really afraid, but tried Turbo Tax and would NEVER switch. I think this year, though, I am going to buy it online rather than CD. It keeps your history from year to year - you will just be shocked when you see how efficient it is. And you can file using the e-form, and get your $$ back in like 10 days. Also, might I add, I never ever got $$ back in over 14 years until I used Turbo Tax - then got back $1K or so. I nearly fainted - 2 years in a row, and it was done correctly.
Agree with Turbo Tax (sm)
I started using Turbo Tax 3 years ago. All you do is answer normal questions and they know where to put them on the forms. Usually the first time you buy the software you get rebates so it is pretty cheap. Then you get your refund back in a week or two. They even tell you when you can expect to have it direct deposited in your account.

I highly recommend it. It is easy, you'll do your taxes that way forever more, and you don't have to pay some middleman hundreds to do your taxes or a huge percentage of your refund to get it back quick.
I've only used Turbo Tax
But I've been using it for many years and I love it.  Very easy to use, even for IC stuff. 
Turbo Tax, quarterlies
You can subscribe to Turbo Tax's quarterly program.  Calculates tax for you, gives e-mail reminders for due dates - it's a good way to help keep on top of taxes. 
Get Turbo Tax, it has a whole section for this and asks you if you have this, this, that...sm
By using this I found 2 deductions I had no idea I could take.
I used Turbo Tax last year for the first time sm
last year and loved it! Only had the tuition credit, though. Everything else was just plain old taxes. I think I'll have to go back to the accountant this year, though, because now we have a rental house to claim for 2006 and I'm not sure how to do those. We have had them before and all that depreciation, etc, would confuse me. Also, I'm an IC now so I guess our taxes will be a mess in the next year since I've only been an IC for about a month now. That won't show up until 2007 taxes are due.
I've also used Turbo Tax for yrs without any difficulty...nm
I use Turbo Tax Small Business - sm

It will walk you through everything and prepare a schedule C for you as well.  I would recommend this if you are going to prepare your own taxes. 

Turbo Tax Home Business Edition! Tax Q's!!
OK, I know you probably are sick of taxes, but here I am just getting started, as usual. I always owe so much $$ that it makes me sick, and so I procrasinate. At any rate, I had used Turbo Tax Home Business for several years and it was GREAT until last year. Then they changed the program and it tanked for me, but I have high hopes that maybe this year its better and improved???  My problem is that I work for a company - that big one who shall remain nameless, and am an employee, but I always take the home office deduction -- have done so for 20 years, as my home is taken over by my office. At any rate, last year on Turbo Tax Home Business you could NOT enter your rent or mortgage or any utilities off of a W2 form - you had to be an IC. I also am a per diem IC, so I have a few hundred dollars in W9 forms.  But Turbo Tax last year would NOT let me use this home office deduction - it couldn't recognize it from a technical aspect with the W2 form. I'm just about to blow $100+ on the online version, and thought maybe I'd ask here first. Has anybody used Home Business edition TT this year? Is it great like it used to be? Any snags? I know I was not alone last year with this business office deduction as April 14th this board and all other MT boards were jammed up with hundreds of us trying to figure out how to manually override this snag!  With no luck.... Anybody have any experiences with TT this year? Those are my only deductions, by the way - just home office and utilities, no other itemizations.  So it should be easy.... LOL! LOL!
Turbo Tax on the internet offers all this and no software has to be bought
I have used it for years and you save your whole return at the Turbo Tax site. I love it.
5 cats - Amadeus, Flash, Turbo, Rhiannon, Lizzie
Three Maine Coons and 2 domestic shorthairs.
If I'm an idiot you're an uneducated turbo-idiot

At least I have the brains to see when it's time to change directions instead of crying about those bad, bad MTSO's and their foreign employees. Boo, hoo, hoo!