12/2/2023 0 Comments Compare turbotax versionsThey provide their software in both offline versions (CD or download) and in the increasingly popular online versions. TurboTax is a product of Intuit, the same company that owns and QuickBooks. If you want expert help you can choose one of their three “Live” versions which range in price from $90 to $170. Besides the free version, it offers three do-it-yourself versions, ranging between $40 and $90. TurboTax is a popular tax prep software that will allow you to quickly and easily file your return from home. They take care of yearly tax updates, ensuring that their customers comply with the confusing and constantly changing tax code. It offers a step-by-step process for preparing your taxes so you can rest assured that every I is dotted, every T is crossed, and every eligible deduction is taken. Tax Professional.In this TurboTax Review you’ll see that it is one of the most popular tax preparation software programs out there, and for very good reason. Well there you have it! My thoughts and opinions on TurboTax vs. We still offer more than TurboTax does because with our fee we educate them and allow them to ask us questions all year, but this added value may not be worth the cost for such a simple return. We sometimes have clients come in with a simple return and we tell them that they can do it on TurboTax and get the same result. There are different versions of TurboTax that offer differing levels of capabilities and cost, but the principles are generally the same. But there is a reason most people don’t chose this option. There is also a third option: filing your own taxes without the support of a software or professional. An accountant or tax professional that understands your financial situation as well as the tax code can ask you questions and dig deeper to uncover tax credits and maximize your tax savings. Thoughtfully planning out certain decisions can help minimize the total amount of taxes you will owe. Tax prep software is good for compliance but does nothing for tax planning. This is very common, but also another benefit to finding a trusted advisor who can work with you and hold you accountable each year. You may feel like you are losing control by not knowing how everything is calculated. It can be intimidating opening up financial data with someone you have just barely met. They may charge a good amount more than TurboTax to file your taxes, but they will often save you more money, time, avoid headaches. This is part of the value proposition of a tax professional. If I propose that you pay me $100 and I will earn you $500 in return, most people would say yes in a heartbeat. While hiring a professional to do your taxes can be pricier than a simple tax software, the benefit normally outweighs the cost. On the other side of the equation, you have CPAs and EAs that can prepare taxes. But the reality is some of the descriptions can be obscure and without a full understanding of the tax code, you are leaving money on the table. In theory, TurboTax asks you all of the questions you need to answer in order to complete your tax return and save the most money. If you are working multiple jobs, have a rental property, run a business or anything other than a straight W2 job, it is usually worth it to hire a professional. This is only the case up until you hit a certain level of tax complexity. Spending a few dollars on TurboTax can help reduce a little bit of that tax liability. First of all, they are fairly cheap! Tax time is usually not a fun time because it means we are giving away hard-earned dollars to the government. Let me start of by saying that I am not a big fan of most tax preparation software, but they do have some benefits and are the right fit for some people. With that being said, I will try to give you an unbiased approach to the best method of getting your taxes done. We want your business and we are in the business of doing taxes.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |