Taxcut or Turbotax
I've used Turbotax in the past, no complaints. I may go to an accountant this year, though.
I went with an accountant a few years ago, but was Turbotax prior to that.
Yeah. I went with Turbotax after reading Chares Givens' "More Wealth Without Risk." He recommended doing your own taxes at least once to see first hand where the deductions were, and that way you could plan/handle your expenses accordingly.
Now, I'd rather have an accountant do it because a) it's easier, and b) I don't want to deal with the possibility of making a mistake.
By the way, from past experience, the IRS is actually incredibly easygoing about taxes, AS LONG AS YOU TALK TO THEM. I owed back taxes, and if I'd ignored the warnings then I'm sure they would've taken my house. But every time I called I quickly got an agent who was courteous, professional, and helpful. I probably got a total of eight months in extensions to pay the debt. (and if I hadn't paid it in full I could've gotten a payment plan)
Honestly, I think the IRS gets a bad rap from past excesses and problems, but they've gone a long way towards cleaning themselves up.
Or maybe it's an intentional image they portray to save themselves some hassle down the line.
Similar to banks, the IRS doesn't actually want to seize your property - it's an inordinate amount of hassle for them and they'd just rather you give write them a check.
My taxes this year will be ten minutes of clicking through some online forms. :)
January 28th, 2006 2:39pm
"Honestly, I think the IRS gets a bad rap from past excesses and problems, but they've gone a long way towards cleaning themselves up. "
Here's the thing though... if you call the IRS and ask for information, they cannot be held legally liable for anything they say (accurate or not).
If H&R Block, TurboTax, or any CPA gives you information, they CAN be held accountable.
I think it's H&R block that each year has a bunch of people call and ask the same questions. Each time they get different/contradictory answers.
January 28th, 2006 3:35pm
Me, I just let my employer deal with it, give my P60 a once over at the end of the tax year, and that's it. Having to fill in a tax return every year because the IRS are incompetent just seems, well, stupid...
January 28th, 2006 7:22pm
Mat, I'd say you only have such a pleasant experience because you are paying basic rate tax. If you get into the higher rate tax bracket or have other sources of income you will be obligated to fill in a tax return every year.
However, I have to say that the Inland Revenue web site for doing your tax return on-line and for free is a very nice facility and significantly eases the pain.
A DIFFERENT SUGGESTION...
It was better than TaxCut, and while TurboTax is the big consumer tax software, most people don't need it... and I refuse to buy anything from Intuit after they installed some nasty rootkit-like software with TurboTax two years ago.
>> Having to fill in a tax return every year because the IRS are incompetent just seems, well, stupid... <<
They may indeed be incompetent, but they're no fools.
They have the electronic records of your financial life -- all they're doing is seeing if you're honest.
That's when I switched to Taxcut -- I'll continue to use Quicken just because there's nothing else out there that works as well and does what I want. But as soon as a competitor gets good enough, bye-bye Intuit.