Has anyone here done there taxes online themselves? I am tired of paying over $200 a HR Block for something people are telling me I can do for free online. What gives?
OT: Taxes
- Thread starter Wizard.sixpack
- Start date
If you take the standard deduction (like 70% or more of people), H&R block is a complete rip off. I've used Turbo Tax for years with zero problems, it takes maybe 15-20 minutes (possibly slightly longer the first time you file, it'll remember your address and stuff after that). Cost me 60 bucks this year I think - for really simple tax situations, I think it's free/nearly free.
I have in the past but a lot depends on how complex your tax situation is. Are you taking the standard deduction? are we talking only W-2 wages? If you are getting a couple of K-1s and are itemizing your deductions or have complex investment income you may still be better off with hiring a CPA.
I use HR block online and do it myself. Have never paid for a tax person. We itemize and pay $30 to HR block for that. It’s too easy now unless you’ve got some complicated set up.
With the new tax law the standard deduction is doubled from last year so much fewer people are going to itemize now. The trade off is that personal exemptions no longer exist, but either way, if all you’ve got is W-2 wages and you’ll mostly likely take the standard deduction then there’s no real reason to get a CPA unless you just don’t trust yourself enough to do it online.
I've always done mine via turbotax. it ends up costing about $150 since my wife runs a small business from home. But i've always gotten a refund and almost always take the standard deduction. My tax situation is simple. My wife's is a little more complicated but not complex.
I echo much of what the previous poster said...
You can file for free online only if I believe you are doing the 1040EZ route. If you do the long form and itemize deductions using a tax prep software it will cost you probably less than $100 and unless you have a very complicated return it shouldn't be that difficult as the software essentially interviews you to determine what forms and things you need and guides you through it. I have used one for many years itemizing deductions and never had any issues. Plus it remembers you the next year, enters all of your info and compares one year to the next for you.
You can file for free online only if I believe you are doing the 1040EZ route. If you do the long form and itemize deductions using a tax prep software it will cost you probably less than $100 and unless you have a very complicated return it shouldn't be that difficult as the software essentially interviews you to determine what forms and things you need and guides you through it. I have used one for many years itemizing deductions and never had any issues. Plus it remembers you the next year, enters all of your info and compares one year to the next for you.
I use taxact.com. It does federal and state and will allow e filing. Very simple. It'll export your w2 in electronically an then it asks you questions and fills everything in automatically.
Depends on your circumstances
If your return is relatively simple (a couple of W-2s and you take the standard deduction) go online for free. If you itemize and have some 1099s, consider TurboTax software for $50 or a similar product. Don't go to H&R Block or Jackson Hewitt, etc. If you have sole proprietor income, K-1s, 1099s, rental property, royalties and/or farm income, go see a CPA. You will get better service for a similar (or better) price from a local CPA with an active tax practice if you have any relatively complicated tax items.
If your return is relatively simple (a couple of W-2s and you take the standard deduction) go online for free. If you itemize and have some 1099s, consider TurboTax software for $50 or a similar product. Don't go to H&R Block or Jackson Hewitt, etc. If you have sole proprietor income, K-1s, 1099s, rental property, royalties and/or farm income, go see a CPA. You will get better service for a similar (or better) price from a local CPA with an active tax practice if you have any relatively complicated tax items.
Most all of the advice in this thread is pretty good, but THIS is by far the best and most complete.
If you have a house payment and investments, etc. I would spend the 30 bucks on Turbo tax or H&R block software. Works great, and you can import the previous years info the next year so it gets faster every time. Can direct file online and request refund online through the software. Easy.
Everything is free using credit Karma. State, filling, everything. Cost me $0 the past 3 years AND I itemize.
I just bought TurboTax Deluxe at Costco for $40. That includes e-file for federal, and tax return for state (e-file for state is about $20). It's typically $50 at Walmart and similar stores.
TurboTax for years with no issues to date. Been a regular employee (normal W2), been self-employed in an LLC (K1), investment income, stock options, etc. Nothing super complex. Always been fine.
Wife and I do our's online for free every year using the free HR Block software no issues. Who cares this year we don't get our refund checks till Grump gets his wall.
I've used Turbo Tax--either Deluxe or Premier--since 1996 without an issue. I've never had too difficult a tax situation, with the most complicated being when my wife was self-employed and we used the home office deductions. A complicated situation needs a CPA, but I haven't had to go down this path yet, and I think I do a bang-up job with my taxes. I take my time, check and re-check my numbers, and compare to previous years (the engineer in me).
I've used Turbo Tax for years now. No sense in paying someone a couple hundred dollars when I don't even itemize. If you use H&R Block, you are just paying for them to put your information into something like Turbo Tax. If you feel weird about it because you've never used it before, just set up an account and go ahead and start putting your information in. That way you can familiarize yourself with how it works. You don't have to file with TurboTax just because you put your information in.
^^^ Taxact is good software and cheaper than Turbotax unless you get a deal.
I am high school drop out. No formal education if you get my drift. I can follow the standard online software questions/form easily. It's not 2+2 easy but damn near it if you understand accounting principles at all.
I have used a several different ones over the years and they all are fairly simple. Even if you are filing a long form, which I have done a couple times due to medical issues, they step you through it fairly easily. The key to any deductibles is keeping proper records in order to claim said deductible.
If you don't keep those, even an accountant can't help you file for your best return. You have to do that yourself or your screwed. If you start it now, you can still get all you medical expenses by contacting all your doctors.
What made my mind up was I hired an accountant for years and I got my hands on some free software one year and did it myself. I came up with the same numbers as the accountant.
What an accountant can do, is guide you one what to keep. That is what is important.
Just remember you have to report all incomes. I have several sources myself, rental places, Online stocks, W-2's, etc.. Keeping those records straight sometimes requires a bit more effort but most only Trade places will import directly into a software with just a few clicks.
I have used a several different ones over the years and they all are fairly simple. Even if you are filing a long form, which I have done a couple times due to medical issues, they step you through it fairly easily. The key to any deductibles is keeping proper records in order to claim said deductible.
If you don't keep those, even an accountant can't help you file for your best return. You have to do that yourself or your screwed. If you start it now, you can still get all you medical expenses by contacting all your doctors.
What made my mind up was I hired an accountant for years and I got my hands on some free software one year and did it myself. I came up with the same numbers as the accountant.
What an accountant can do, is guide you one what to keep. That is what is important.
Just remember you have to report all incomes. I have several sources myself, rental places, Online stocks, W-2's, etc.. Keeping those records straight sometimes requires a bit more effort but most only Trade places will import directly into a software with just a few clicks.
I have rental property and have done taxes with TurboTax every year except one with no issues FWIW. The one year I went to a CPA he charged me $200 and did nothing that I wasn't already doing with TurboTax.
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