The Tax Thread - 2011

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j_crazy's avatar
j_crazy
Posts: 8,372
Jan 24, 2011 1:35pm
Who is done with their taxes?
Who do you recommend others see/use for their taxes?
How much you getting back?

I'm just now starting to get all of my crap mailed to me, so i'm not quite ready to do them just yet. I'm waiting on my 401k papers and the wife's W-2 and 403b papers to come before we're ready.

I'm partial to using a CPA to do my taxes, but have had HR Block do them in the past and was happy. I think we're going to use the same guy as last year have them done this year.


I'm tempted to try one of the online free calculators and compare what i get to what the accountant can do. I've never done my own taxes so I'm leary of jumping in now and making a rookie mistake.
wes_mantooth's avatar
wes_mantooth
Posts: 17,977
Jan 24, 2011 1:38pm
I use either taxslayer or freetaxusa. I highly recommend people use these...H &R and Jackson Hewitt gouge people so badly. These online programs are pretty much idiot proof anymore.
NYFan54's avatar
NYFan54
Posts: 570
Jan 24, 2011 1:42pm
I use Taxslayer as well. I think the State filing fee was only $4.99....I'm getting $2,200 back.
j_crazy's avatar
j_crazy
Posts: 8,372
Jan 24, 2011 1:42pm
Dale Jr. endorses taxslayer, so i'm going with the competition.
mcburg93's avatar
mcburg93
Posts: 3,167
Jan 24, 2011 3:00pm
1527 is all im getting not used to such a small amount ohh well i guess.
T
thavoice
Posts: 14,376
Jan 24, 2011 3:06pm
I have done my own taxes for free for a long time time with turbotax and then going to the ohio site for the free state tax..and do the town and school on my own.
Fab4Runner's avatar
Fab4Runner
Posts: 6,196
Jan 24, 2011 3:20pm
I do my taxes online for free. I just got my W-2 today and will probably complete them tonight or tomorrow.
LJ's avatar
LJ
Posts: 16,351
Jan 24, 2011 4:35pm
I hope to owe ~$100

I can't file till mid Feb due to Schedule C issues
hoops23's avatar
hoops23
Posts: 15,696
Jan 24, 2011 9:27pm
I've already filed using Turbotax and should have my refund Friday.

And FWIW, since I began using turbotax a few years ago, I've been getting MORE money than I ever did using an accountant or branch firm like H&R
j_crazy's avatar
j_crazy
Posts: 8,372
Jan 24, 2011 9:33pm
so what's the main perk to turbotax vs taxslayer, because i think i'm set on going with one of those 2.

also, when we talk taxslayer are you saying the free version? because i'm fairly certain if i do it i'll use the 19 dollar version.
wes_mantooth's avatar
wes_mantooth
Posts: 17,977
Jan 24, 2011 9:57pm
turbo tax walks you through things a little better...not much though. It kinda holds your hand. If you know what you are doing...I prefer freetaxusa, it is simpler and quicker.
Lovejoy1984's avatar
Lovejoy1984
Posts: 5,277
Jan 24, 2011 10:38pm
So this is my first time filing as a married man. I am wondering which way would be best for me to file so that I get the most return.

Married Jointly
Married File Seperate.
Head of Household?
wildcats20's avatar
wildcats20
Posts: 27,794
Jan 24, 2011 10:40pm
I just use H&R Block's free file thing on their website for Federal and use the free tool on Ohio's site for State.

But then again, I probably have the easiest tax situation there is so....
D
dat dude
Posts: 1,564
Jan 24, 2011 10:41pm
FWIW, you are 11x times more likely to be audited using TurboTax or a similar program in comparison to using a paid preparer. I don't have a link, but it was a statistic that was on a handout for a class I attended in December.
wes_mantooth's avatar
wes_mantooth
Posts: 17,977
Jan 24, 2011 10:41pm
HighRoller74;651580 wrote:So this is my first time filing as a married man. I am wondering which way would be best for me to file so that I get the most return.

Married
Single
Head of Household?

More than likely Married.

You can't file as head of household since you are married. You can file as Married but filing separate....if you use a program on taxactonline.com it will run you and your wife's taxes and tell you which is the best route to go. I think it is 20 bucks on that site.
Lovejoy1984's avatar
Lovejoy1984
Posts: 5,277
Jan 24, 2011 10:49pm
Thanks Mantooth, you're alright, no matter what everyone else says about you.

We normally go through H&R Block and pay like $35 or so each, but we wanted to try and do it ourselves, but neither of us, are very educated in the tax field.
wes_mantooth's avatar
wes_mantooth
Posts: 17,977
Jan 24, 2011 10:51pm
HighRoller74;651612 wrote:Thanks Mantooth, you're alright, no matter what everyone else says about you.

We normally go through H&R Block and pay like $35 or so each, but we wanted to try and do it ourselves, but neither of us, are very educated in the tax field.

What I tell everyone is to at least try it...it is free until you actually file. If you don't trust yourself...then take it to a professional. Then you can compare your trial version and the paid professional's version.
iclfan2's avatar
iclfan2
Posts: 6,360
Jan 24, 2011 10:57pm
dat dude;651592 wrote:FWIW, you are 11x times more likely to be audited using TurboTax or a similar program in comparison to using a paid preparer. I don't have a link, but it was a statistic that was on a handout for a class I attended in December.

I don't believe that for a second.

I use turbo tax but my situation of one of the simplest ones to prepare. I've heard a lot of horror stories about H&R block charging an arm and a leg.
ttocs14's avatar
ttocs14
Posts: 279
Jan 24, 2011 11:01pm
HighRoller74;651580 wrote:So this is my first time filing as a married man. I am wondering which way would be best for me to file so that I get the most return.

Married Jointly
Married File Seperate.
Head of Household?
You can't file as HoH since you are married. You will get a lot more back filing Married jointly than seperately...especially if you have children
Lovejoy1984's avatar
Lovejoy1984
Posts: 5,277
Jan 24, 2011 11:03pm
ttocs14;651659 wrote:You can't file as HoH since you are married. You will get a lot more back filing Married jointly than seperately...especially if you have children

No children yet, first one is Due on March 9th.
wildcats20's avatar
wildcats20
Posts: 27,794
Jan 24, 2011 11:07pm
HighRoller74;651666 wrote:No children yet, first one is Due on March 9th.

Congrats.,
Lovejoy1984's avatar
Lovejoy1984
Posts: 5,277
Jan 24, 2011 11:11pm
Thanks.
Cat Food Flambe''s avatar
Cat Food Flambe'
Posts: 1,230
Jan 24, 2011 11:11pm
I do my own since I had to drop the kids as dependents - my taxes are now fairly simple, as we throw everything we can into tax-deferred plans rather than battle deductions.

Gonna have to pay about $250 this year, which is fine with me. If you're getting $2000+ back every year on less than $75,000 a year, you're either lazy or a fool.
NYFan54's avatar
NYFan54
Posts: 570
Jan 24, 2011 11:16pm
j_crazy;651374 wrote:so what's the main perk to turbotax vs taxslayer, because i think i'm set on going with one of those 2.

also, when we talk taxslayer are you saying the free version? because i'm fairly certain if i do it i'll use the 19 dollar version.

I have no idea. I started with the calculator just to get a rough estimate of what I'd get back, started to file with the free version, then when it came to finally do my state return, I didn't have to pay a dime for the others since I'm in the Army. Maybe someone else could help you in those regards.
majorspark's avatar
majorspark
Posts: 5,122
Jan 24, 2011 11:55pm
Some of you guys need to take the time to do your taxes yourself. You will soon wake up to the BS.