MrMark0673 | 197 Posted January 27, 2020 Share Posted January 27, 2020 It's that time of year again and I was wondering what everyone uses to file their taxes. I use Turbotax Business to create K1 statements for a small LLC I have. I use Mac computers almost exclusively, but have to bust out a PC once a year for TurboTax Business. Might spend a couple bucks and get a new and cheap laptop as the one I've been using is junk. My personal taxes are super complex due to a bunch of rental properties I have, so I use a CPA that I trust. Not super cheap, but we received $25k back last year from mostly phantom deductions like depreciation, so it's money well spent. Link to comment Share on other sites More sharing options...
Gloves | 11,776 Administrator · Posted January 27, 2020 Share Posted January 27, 2020 Noooooo. Don't remind meeeeeee. 1 1 Link to comment Share on other sites More sharing options...
RH | 4,903 Posted January 27, 2020 Share Posted January 27, 2020 3 minutes ago, Gloves said: Noooooo. Don't remind meeeeeee. So, what is tax time like in Canada? I hope, for you guys sake, Canada hasn't modeled their tax mechanisms after out overly complicated, fear inducing structure we have in the US (and in our local states!) To answer OP, I use TurboTax. I've used TT for over 10 years. For the past couple of years I've also used QuickBooks Self-Employed Online since I've been an independent contractor and my personal expenses are few and far between. They can be pricey, IMHO, but it's so easy to use, especially if you also use a tool like ItsDeductible. It just imports all of those details for you. I try to structure my taxes so that I always get a "little" refund but last year was bonkers. As I mention, I've worked as an independent contractor, but in September I took a W-2 role. My first two quarters were horrible and I had to over-pay my tax estimates because there was no way to judge how the later quarters would turn out. So, after setting up my W-2 with the new employee, it looks like I'm going to be getting a sizable refund from my earlier over payments. It's nice to be getting a fat check from my taxes but I really wish it wasn't SO large. I would have done better keeping that cash in the bank. Link to comment Share on other sites More sharing options...
TDIRunner | 2,734 Posted January 27, 2020 Share Posted January 27, 2020 I use Turbo Tax since I own a rental property in a different state which adds some complications. With that said, I've usually filed my taxes by the end of January or within the first week of February. I typically have my federal return by the middle of February and state return in early March (Illinois is pretty slow). I've used Turbo Tax for probably 8 or 9 years now. It's pretty simple and straightforward. I like how they show you the prior year numbers for comparison and and as sanity check that you are entering the correct data in the current year. If I ever get rid of that rental property, I might switch back over to doing everything myself. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 27, 2020 Share Posted January 27, 2020 (edited) I had about a decade, or more, of using Turbotax... switched to H&R block's software for a year...and promptly switched back the following year. H&R block's software looks and feels like it is from the mid-90's. I also need the full-up business software to generate a couple of K1's, which is how H&R block enticed me with their MUCH lower price on their "full featured" product. Total...piece...of...shit, compared to Turbotax Business. Edited January 27, 2020 by arch_8ngel Link to comment Share on other sites More sharing options...
Tulpa | 3,492 Posted January 27, 2020 Share Posted January 27, 2020 I have an aunt who is seasonal with H&R Block. I file myself, but she'll walk me through the complicated stuff, especially if I get a random 1099 from out of state or something. Link to comment Share on other sites More sharing options...
Skorp | 383 Posted January 27, 2020 Share Posted January 27, 2020 Man, tax time sucks so much for business owners. Yesterday, spent 10 hours doing so much paperwork, record looking and preparing documents for not only for our side, but for so many of our customers as they count on us for their statements for taxes. Most is due on January 31 too, which I did finally catch up yesterday and parents want it all soon as possible so they can do their taxes, so it is a big responsibility on me. Still though got that big April 15 tax to do and I always do it in April since I never get any money back and always owe. Always use TurboTax Business. Just such a helpful tool and well worth the $100 fee after using a coupon code imo especially being able to have it all in one place and fill in previous year info that has not changed. Link to comment Share on other sites More sharing options...
Hammerfestus | 3,836 Posted January 27, 2020 Share Posted January 27, 2020 (edited) Do my own taxes? Pfft. My woman is a CPA so it’s usually something along the lines of “hey sugartits, do my taxes” ”fuck you, do your own taxes” Then she does them anyway because she’s way more responsible than me. Oh yeah. Edited January 27, 2020 by Hammerfestus 1 3 Link to comment Share on other sites More sharing options...
Tabonga | 2,317 Posted January 27, 2020 Share Posted January 27, 2020 (edited) I do ours the old fashioned way - on paper and snail mail since we are in no grand rush on this. Ours are very very simple and whatever money we will get does a u-turn to cover property taxes and auto insurance in the spring. This year we will have a bit left over because of an increased state exemption, the tax changes and we now get a modest property tax discount due to my age. I will throw that at our car payments (we only have 8 payments left in any event). I will send them off as soon as we get our 1099-Rs. Edited January 27, 2020 by Wandering Tellurian Link to comment Share on other sites More sharing options...
DefaultGen | 5,401 Posted January 27, 2020 Share Posted January 27, 2020 1 hour ago, Gloves said: Noooooo. Don't remind meeeeeee. Canada's tax system is messed up too? I just figured taxes are one of things America is unique terrible at compared to the rest of the world like healthcare or trains. Link to comment Share on other sites More sharing options...
DefaultGen | 5,401 Posted January 27, 2020 Share Posted January 27, 2020 I've used TaxAct for the past few years. It spat out the same numbers as Turbo Tax when I compared the two, so seems fine to me. My situation is pretty normal so it's just a waste of $15 and 30 minutes every year. Link to comment Share on other sites More sharing options...
The Count | 526 Posted January 27, 2020 Share Posted January 27, 2020 I use Turbo Tax as well. Costco always has the new versions on sale this time of year so I grab one and knock it out in less than an hour. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted January 27, 2020 Share Posted January 27, 2020 1 hour ago, DefaultGen said: I've used TaxAct for the past few years. It spat out the same numbers as Turbo Tax when I compared the two, so seems fine to me. My situation is pretty normal so it's just a waste of $15 and 30 minutes every year. One would hope that the answers should be identical... I just thought TaxAct was extremely "clunky" compared to the level of interface-design Intuit has put into their product. Part of the "problem" for H&R block is that they really want you to use their stores and in-person services, so only have cursory interest in improving their DIY product and making it clear how "easy" it is to DIY with a modern software package. Whereas Intuit ONLY sells software, and on top of that get year-round feedback on their other software products like Quicken, so simply have a much better cycle of user-feedback and resulting user-experience. Link to comment Share on other sites More sharing options...
trj22487 | 350 Posted January 27, 2020 Share Posted January 27, 2020 Mommy does it for me Link to comment Share on other sites More sharing options...
Estil | 1,264 Posted January 27, 2020 Share Posted January 27, 2020 Just remember it doesn't count if you already paid your taxes them "over a year ago"! 1 1 Link to comment Share on other sites More sharing options...
nrslam | 474 Posted January 27, 2020 Share Posted January 27, 2020 My taxes are very simple, so I've just used H&R Blocks free online system. Takes me less than 30 minutes and it's a once-a-year thing so I haven't bothered looking for anything better. Link to comment Share on other sites More sharing options...
Andy_Bogomil | 815 Posted January 27, 2020 Share Posted January 27, 2020 I use a a few plug and chug auto return programs to see if they give me the same result which they typically do. My taxes are extremely simple. Honestly it doesn't really matter because the gov't has been fucking up my pay for the last 4 years so I just send in my best guess but they always get revised as I get multiple revised T4's throughout the year and then they adjust my taxes accordingly. I think I had 4 or 5 T4's last year. Link to comment Share on other sites More sharing options...
TDIRunner | 2,734 Posted January 27, 2020 Share Posted January 27, 2020 1 1 Link to comment Share on other sites More sharing options...
Kguillemette | 1,544 Posted January 27, 2020 Share Posted January 27, 2020 TurboTax, simple return. 6 years running now with no issues. Used to go in person to Jackson hewitt/HR block, after trying TurboTax and seeing how easy it is, haven't looked back. Link to comment Share on other sites More sharing options...
RH | 4,903 Posted January 27, 2020 Share Posted January 27, 2020 43 minutes ago, TDIRunner said: Now now, there is one step before prison. "Govments: You just owe us the difference, plus interest. Oh, and no worries, we'll figure the difference out 5 years later and then send you a ludicrous bill years later. THEN, if you can't pay it, you'll go to jail." Link to comment Share on other sites More sharing options...
MrWunderful | 2,927 Posted January 27, 2020 Share Posted January 27, 2020 Pay my accountant 450$ to do it. Have been for the last 25 years (it was 100$ in 1995) Link to comment Share on other sites More sharing options...
a3quit4s | 4,096 Posted January 27, 2020 Share Posted January 27, 2020 (edited) TurboTax online - people actually go to the store and buy computer software? Weird. Edited January 27, 2020 by a3quit4s Link to comment Share on other sites More sharing options...
Gloves | 11,776 Administrator · Posted January 27, 2020 Share Posted January 27, 2020 6 minutes ago, a3quit4s said: TurboTax online - people actually go to the store and buy computer software? Weird. Lol can you imagine? 1 Link to comment Share on other sites More sharing options...
Tulpa | 3,492 Posted January 27, 2020 Share Posted January 27, 2020 2 hours ago, Estil said: Just remember it doesn't count if you already paid your taxes them "over a year ago"! Every year when we do a tax thread, this same Simpsons video is posted. Every. Year. 1 Link to comment Share on other sites More sharing options...
Link | 2,709 Posted January 28, 2020 Share Posted January 28, 2020 Hmm... maybe I will try TurboTax. If it’s good enough for @arch_8ngel... I’ve always used an accountant, because that’s what my father does. So I mostly used his people forever. I finally found a local accountant I expected I could trust, referred from a coworker. I used her for the last 2 years and I guess her work is fine, but her bedside manner is kind of terrible. Link to comment Share on other sites More sharing options...
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