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Old 01-19-2013, 10:09 PM   #1 (permalink)
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Default Opinion on taxes?

Every year I do my taxes online through Turbo tax. In the end I probably end up paying 60-70$ for everything, but they save all my information from the previous year and import it, and it's always worked out fine. I've never had complicated taxes, just my work income and my student tuition information.

This year my friend says I should go in and get them done by a professional (so pay roughly 50$ more). I worked 4 different jobs last year, was still a student paying tuition for about 4 months, and did start paying back student loans at the end of the year. I've always gotten good returns back by doing my own on turbo tax...

Question is, has anyone ever done both and noticed a significant difference?
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Old 01-19-2013, 10:31 PM   #2 (permalink)
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As long as you answer all the questions about your student loan repayment, maybe just the interest on it is deductible, not sure. you're probably fine, turbo seems to prompt pretty well. Why pay someone who had 16 hours of training $50 bucks or more? Just saying.
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Old 01-19-2013, 11:45 PM   #3 (permalink)
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I do Turbo Tax online. Annoying that now you have to pay to import your data, not doing that. I am married and file jointly, so we have multiple W-2s, then we need forms for tuition paid, all the 1098s for student loans (we get about 7 different ones), our mortgage interest, interest paid to us for our checking account, and some form where we have to record our previous year's city income tax return. Then we get asked about a few other things like money my husband spends for his job (teaching supplies), tax deductible donations, and vehicle registration. So far it's been easy enough for me to use the online version. I don't see how a professional could get us any more. I even fill out parts that I end up not qualifying for most of the time, just in case. If all you have are W-2s and 1098e (student loan interest) I wouldn't bother paying to have them done. You will need the 1098e's for your student loan interest paid and I believe the 1099-something for the tuition you paid during the year. Both/all of these forms should be sent to you automatically.
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Old 01-20-2013, 07:54 AM   #4 (permalink)
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I've been doing Turbo tax for about 3 years now..I've never had a problem, I was going to H & R Block and it cost me 250$ !! Every year it seemed to go "up",,took them about 15 minutes to do it/file it..big deal. I also file jointly have some deductions, not a real involved form.

I pay 50$ for Turbo Tax, it's free fed filing and pay 15$ to file via them for State.

Lies I don't think you have to pay to "import data"..Atleast I never have thru Turbo..I think the OP was saying the 'cost' to do the taxes via Turbo not the importing part?
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Old 01-20-2013, 08:45 AM   #5 (permalink)
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I do H&R Block online. costs about $100 but is completely backed up with their audit protection and has someone at the company go over your return before it is submitted.

I've never had any difference between doing it online and paying the extra $$ to have it done in person.
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Old 01-20-2013, 08:49 AM   #6 (permalink)
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I do them manually. 1040 with schedule A-Once I get to capital gains and all that I will go to a tax person. I did HR Block once and they made a mistake. For the State-it mainly takes the federal info so it is not hard either. For now I am in the saving for retirement mode not the distribution mode. My mothers taxes go to an accountant.
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Old 01-20-2013, 09:59 AM   #7 (permalink)
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We've paid to have H&R block do ours for years now. I use to complain to the wife that it was a waste of money and we should do it ourselves, I'm glad she didn't listen to me. We received a letter last spring informing us we were being audited. The IRS wanted proof that our children were actually our children and that they reside with us. No big deal right? send them school records and medical records ect... nope not that easy, they will reject some of it and ask for more. One IRS agent told us they didn't consider the last packet of information we sent them and he's not sure why Huge pain in the butt, the IRS is a defunct organisation. I'm glad we used H&R block, they are earning every penny we paid them. Here's the fun part, we received a letter letting us know they agreed that 3 of our 4 children are ours! And do we accept this determination? Lol! NO! We do not! So the fun continues.

You do not have to do anything wrong for the IRS to become a huge pita!
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Old 01-20-2013, 10:07 AM   #8 (permalink)
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Quote:
Originally Posted by JakodaCD OA View Post

Lies I don't think you have to pay to "import data"..Atleast I never have thru Turbo..I think the OP was saying the 'cost' to do the taxes via Turbo not the importing part?

You do online now. If you want to import from 2011 it cost $20, but using it is free (don't have to purchase the software).
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Old 01-20-2013, 10:25 AM   #9 (permalink)
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Quote:
Originally Posted by JakodaCD OA View Post
I've been doing Turbo tax for about 3 years now..I've never had a problem, I was going to H & R Block and it cost me 250$ !! Every year it seemed to go "up",,took them about 15 minutes to do it/file it..big deal. I also file jointly have some deductions, not a real involved form.

I pay 50$ for Turbo Tax, it's free fed filing and pay 15$ to file via them for State.

Lies I don't think you have to pay to "import data"..Atleast I never have thru Turbo..I think the OP was saying the 'cost' to do the taxes via Turbo not the importing part?
I've always paid a little extra to import the previous year's information so I don't have to fill it in again.
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Old 01-20-2013, 12:28 PM   #10 (permalink)
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gotcha,,well no I won't be importing it, forget it, just an added expense I can do it myself quite easily
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