2006 taxes...anyone doing their own?

[Skidmore]

Usually we have our taxes prepared for us but every year it gets more expensive. I know its deductible, but this year I'm considering one of those tax software programs. Just curious about people's experiences with them and is there one product more reliable than others?

[mike_c]

1. I've used TurboTax for the last three years...

...and found it easy and reliable. I'll be using it again for my 2006 taxes.

[we can do it]

2. Not Yet But I Will Be Soon -Its Really Not Too Hard If You Take Your Time

[hfojvt]

27. are you using software or just a pen and instruction books?

I feel like I am among rich people, who are paying others, or paying for software, to do their taxes.

[we can do it]

36. I Do It With A Pen and the Instruction Book - Also Our Library Has A Great Aid

A book in the reference area -J.K. Lasser your income tax 2006 (or whatever year) - has illustrations for each line and its FREE to use at the library! Good luck - I am confident you can do it - I've been doing my own long form for years.

here is what it looks like
http://www.wiley.com/WileyCDA/Section/id-301689.html

[hfojvt]

40. I've been doing the long form since I was 17 or so

way back in 1979. Although I only recently found out I had been missing the credit I deserved from form 8880. Only because the instructions for that are hard to find and I figured I would not get the credit anyway since I already had an IRA deduction.

[Union Thug]

3. I've used Tax Cut for the past three years and will use it this year, too.

I've never had any problems with it. Simple, straight forward and fast.

[datadiva]

4. I use Tax Cut also

It's easy to understand. I've used it for two years. For myself and my sons. I like it. Less expensive also.

[Lefta Dissenter]

7. me too

for four years, I think. I've been using it for home and business tax returns, and I've been happy with it. :hi:

I usually buy it when it comes with rebates for all sorts of free software that I don't need, and I give those to my friends and family (like the newer versions of Money, etc.).

[Bitwit1234]

5. Easier than 1 2 3

And if you use them you pay for federal and the state is free. Some states have systems that let you do it free also.

[Bitwit1234]

6. PS

You usually get your state tax back in 3 or 4 days.

[bigtree]

8. Turbo Tax was pretty easy

[laylah]

9. Although legally

separated, my "ex" does our, jointly, with Turbo Tax, and has for many years. A good program.

Jenn

[Nite Owl]

10. Turbo Tax

Just got my copy for this year yesterday at Costco. I used to get it done by an accountant but by the time you gather all the stuff that's half of it anyway. Takes a while but it isn't difficult. I trade a lot so if I have someone do it and the cost is line by line it's a small fortune deductible or not.

[Monkeyman]

11. Now with the death of Janet I just don't know what to do

Anybody have any Ideas

[Nickster]

15. Do you mean ideas about how to do your taxes? Did Janet used to do them for you?

I would highly suggest using one of the tax softwares. You can get them for basically free at any of the big name office supply stores and they walk you through pretty much every scenario or give you links to more specific details. If you get the HR Block one you can pay a little extra and get one of their folks to look it over and give it a final blessing. It's very easy, I've never had a problem using the software.

[Monkeyman]

18. What about the death tax

Will the software help on that???

[MADem]

22. It is fairly idiot-proof, really. It asks you questions, one by one

If you aren't feeling up to it yet though, that's completely understandable. You could always go to the H and R Block and have them do it this year, and try the software next time.

[Monkeyman]

25. Thanks I will

[Nickster]

33. I just went through my version of the HR Block software and it did give me information on filing for

a deceased spouse and what forms to fill out for estate related issues. If you go with the Premium version you can call them directly or send them email for specific support if you need it. I've got a household full of accountants here too, so if you need any help, I'd be glad to give an assist.

[PA Democrat]

12. I've done our business taxes for years.

I use Turbo Tax. If you use other accounting software for your personal finances, like Quicken, or Quick Books for a business, you can import data directly into Turbo Tax. I've never had any problems and like the features that check for audit alerts and possible additional deductions.

[OutNow]

13. 5 years using turbotax

I used turbotax for 5 years. It's quite easy. There are very good help sections. My wife had her own business for a couple of years so we used the version for small business those years. That was also easy. One of the things I like is that pertinent info from the prior year gets pulled into the next year's version (name, address, ssec numbers, any capital loses, charities, etc.)

Give it a try!

[hfojvt]

14. I did them online for free last year

although they messed up a form so I had to re-file. Trouble is, I cannot get that form anywhere. I had to re-file for two back years too because I had not been taking that deduction, so I may have lost money in 1999 and 2000 because I did not know about that deduction, and maybe even further back.

Buying software though, does not seem to save any more money than paying for a service. You still have the software expense. Whereas pens are almost free.

[MADem]

23. The software is around forty bucks. I know folks who spend a hundred or more for pro preparation NT

[dmosh42]

34. I use 'Tax Act', an online program

It's cheaper than the others, and as thorough. I've done Turbo & Tax Cut, and haven't noticed any advantage. It also does the state forms.

[hfojvt]

39. Funny, as I read your post

there is a banner ad for Tax Act across the top. It says it is free. Last year the e-filing was free. They try to sell you a rip-off "quick refund" at the end, but the filing was free. They just neglected to fill out form 8880 so I had to call the IRS and re-file for that credit.

[TexasLawyer]

42. TaxAct is great

That's what I've been using for the last few years. Once you use it one year you can import info from last year's form into next year's form (like kids' SSNs, etc).

[bpeale]

16. taxact for me

i have used it the past year & plan on doing so again this year. got the software to do both state & federal plus free e-filing and i think lassiter assistance for $17

edit: taxact advertisement has been appearing at the bottom of this page

[Warpy]

17. Any of the programs out there will walk you through it

Just get the program and review what is in it first so that you'll know what to assemble before you sit down and punch the numbers in. I'd say about 90% of the difficulty of doing taxes is assembling all the information, and you have to do that if you pay a tax preparer.

I've used both the Kiplinger Tax Cut and Quicken programs and have no real preference. I'll be doing my own taxes again this year, and I expect them to be extremely complicated with both my pop and myself needing forms completed. I doubt it will kill me.

So yes, I heartily recommend using the software available to do your own taxes if you need to itemize. If you don't need to itemize, then just sit down and do the math. It isn't that hard, and those tax preparation chain stores are a ripoff.

[JustABozoOnThisBus]

20. You nailed it

Getting all the backup papers together is the tough part, w2's, 1099's, receipts.

I use Tax Cut. But other programs are just as good. I like the fact that it takes last year's info and uses it as a guide to entering this year's info. That way I don't skip anything inadvertently, at least not the income sources that didn't change.

If I used a service, I'd burn gas, traveling back and forth to get "one more" piece of documentation.

[TahitiNut]

19. With the effort one goes through for an outside preparer, software is easier.

Using an outside tax preparer, in my experience, requires more time and effort in records assembly and organization than using tax preparation software. The advantage of tax preparation software is one of scheduling - in using it, various alerts and information are available and allow one to examine records at one's own convenience. With an outside preparer, any questions or "what-ifs" require an appointment and follow-up. I've used TurboTax and TaxCut. Both are servicable. I prefer TurboTax but tastes vary by individual.

Caveat: I've only had to deal with what one might regard as "ordinary" for an employee or as a self-employed 'consultant.' I've not had to deal with Subchapter 'S,' extensive investment capital gains and losses, or income property. While I doubt the trade-offs would change very much, it's not been part of my experience.

[beyurslf]

21. I have used Turbo tax for several years

But my taxes aren't too complicated. Before Turbo Tax, I did them myself.

[leftofthedial]

24. zero income in 2006

should be pretty easy

[mnhtnbb]

26. This will be 4th year using TurboTax. If you have your data

on Quicken, it's very easy. I use it for both personal and business
taxes. It has definitely saved us thousands of dollars in tax prep fees, especially after my parents died and left trusts.

[AzDar]

28. Started doing ours myself last year after soliciting and receiving

a lot of good advice here at DU.
TurboTax turned out to be quite easy to use.

[MissB]

29. I've used TurboTax for years.

Costco is offering up their Deluxe version (includes Federal and State - and in our case, local- programs as well as Its Deductible, which is handy if you're donating used goods to places like Goodwill) for only $22 from Jan 15-Jan 21st or so.

[BlackVelvet04]

30. I've used Turbotax for years....

after taking a Jackson Hewitt tax class I realized TurboTax was really an easier way to go. If you go through the steps thoroughly you should find all of the deductions you are entitled to.

[CabalPowered]

31. I've always done my own. On paper and mailed.

It's complicated but not that complicated.

[williesgirl]

32. I've used TurboTax for over 7 years and love it. Get it reduced on ebay, make sure it

includes state. Going for about $35 now plus shipping. Efiling charges are about $15.00 each.

[B Calm]

38. I gave 35 for it at Walmarts

[LostinVA]

35. I always do my own via TurboTax

I have a mortgage and a retirement account, and I've never had a problem. It pays to use the more expensive/thorough version.

[B Calm]

37. I love Turbo Tax. All my investments with Dean Witter are automatically

put into my Turbo Tax by internet.

[eleny]

41. We've used TurboTax for years

And it couldn't be easier.