What do you use to file your taxes in US? Tax software or tax firm

SamSan · Post by **SamSan** » Thu Apr 07, 2016 11:22 pm

I need recommendation on tax filing in US. I used to use Turbo Tax and file it myself every year (The Deluxe version). Last year I sold some company share to pay for house down payment and Deluxe version does not let me file 1099-B and I have to upgrade to Premier version which is more pricier. I have just 1 1099-B to file. Every year I would get a sweet return and this year i am having to pay IRS (about 4K), so am not happy about the additional cost. So I was wondering if I should ditch turbo tax and try some other software (taxact? )or just approach a tax firm (not sure how much they charge). So how do you file your taxes and do you have any recommendations for me?

Lakshya · Post by **Lakshya** » Thu Apr 07, 2016 11:27 pm

SamSan;628093I need recommendation on tax filing in US. I used to use Turbo Tax and file it myself every year (The Deluxe version). Last year I sold some company share to pay for house down payment and Deluxe version does not let me file 1099-B and I have to upgrade to Premier version which is more pricier. I have just 1 1099-B to file. Every year I would get a sweet return and this year i am having to pay IRS (about 4K), so am not happy about the additional cost. So I was wondering if I should ditch turbo tax and try some other software (taxact? )or just approach a tax firm (not sure how much they charge). So how do you file your taxes and do you have any recommendations for me?

I would not change my tax software, its hassle to put all info again from previous years. They all are same. So you are paying 4k that means you borrowed 4k from IRS interest free, you should be happy. BTW I use taxact online.

dixit · Post by **dixit** » Fri Apr 08, 2016 12:05 am

I go to a guy...(same guy for the last 7 years). This year he charged $130. It has been in this ball-park pretty much all this time.

Saves me the hassle....and I am able to continue maintain my Indianess by being lazy and not doing stuff myself - setting a good example for my kids.

P.S: Rbee - please take a note, Lakshya and I shared the information but so far none of the women members have cared to respond. Typical typical.

DesBhakt · Post by **DesBhakt** » Fri Apr 08, 2016 12:27 am

Lakshya;628095I would not change my tax software, its hassle to put all info again from previous years. They all are same. So you are paying 4k that means you borrowed 4k from IRS interest free, you should be happy. BTW I use taxact online.

Some of the popular tax software file formats are readable by all. For e.g. TaxAct can read the Turbotax format etc.
Please confirm before proceeding.

wantToGoToIndia · Post by **wantToGoToIndia** » Fri Apr 08, 2016 12:33 am

I have been going to a CPA for last 10 years or so. He charges me ~150-200 bucks. This year, I tried using Turbo Tax. Finally, when I was done with all my stuff, it showed me that it will charge around $120 for Fed and state tax based on the turbo tax product (premier, max, deluxe etc) that I chose. I went to my CPA and compared the refund amount. I noticed that my CPA filing was giving me much more refund than turbo tax so finally, I dropped the idea of using Turbo Tax and kept using my CPA. I am pretty sure that my CPA is not doing any magic but its just that I am not that good at Tax. In any case, for me, Turbo Tax is anyway not cheap so its better to go to CPA. I think, I will just keep using my CPA.

Chakraan · Post by **Chakraan** » Fri Apr 08, 2016 1:01 am

Why no one talks about H&R block?

I always use that and find it very user friendly.

Why most of the Desis uses same type of product , service or cars in USA ?

Is it due to the knowledge transfer to next FOB by experience Desi which they follow blindly ?

RBee · Post by **RBee** » Fri Apr 08, 2016 1:04 am

dixit;628098
P.S: Rbee - please take a note, Lakshya and I shared the information but so far none of the women members have cared to respond. Typical typical.

Heh heh.. You say you don't care but are obsessed with Ask Amy Antics :)

@SamSan, we use H & R Block's service.. For $150, the usual consultant we go to is usually good in telling us what changed in each tax year etc..
RHee used to do our taxes earlier using turbotax but he wouldn't help in any household chores for 3 months in the pretense of calculating and recalculating.. I find much more value in spending $150 once a year and use RHee for cleaning services weekly instead :)

tahoelocal · Post by **tahoelocal** » Fri Apr 08, 2016 1:05 am

my personal preference has always been to do my own taxes - i actually enjoy it a bit, like solving a puzzle, and also helps me manage and plan my family's finances. my wife has been complaining that i have vanished the past week as i have been busy with this. i use turbotax - i am told that taxact is sometimes weird in some situations, i haven't tried it. i pay 50-60$ for turbotax after hunting for the various discounts (every credit card offers a discount these days). i dislike CPAs, i used them once and they seem to work their "magic" by maximizing deductions which seemed a bit underhanded - i didn't understand everything they did and the guy didn't have patience to explain what he did and waved me off.

Chakraan · Post by **Chakraan** » Fri Apr 08, 2016 1:09 am

H&R Block HQ vs TurboTax HQ. Which one is bigger and better ? :)

Lakshya · Post by **Lakshya** » Fri Apr 08, 2016 1:10 am

Chakraan;628102Why no one talks about H&R block?

I always use that and find it very user friendly.

Why most of the Desis uses same type of product , service or cars in USA ?

Is it due to the knowledge transfer to next FOB by experience Desi which they follow blindly ?

I don’t follow Desi blindly, once one of my car tire was gone and when I wanted to change, guy told me I need to change all 4 tires.

Now ask me why? Because No one makes that exact type of tire…
Now ask me why? Because car co won’t make that car anymore…
Now ask me why? Because no one was buying that Piece of junk...

See I am different…