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The Almighty Buck United States

Best Tax Programs? 61

Posted by Cliff from the a-yearly-question dept.
inf0c0m asks: "Now that tax season is upon us again, what sort of tax programs should I be trying out? I've done the tried and true Quicken before, but I was hoping something Open Source, or something that comes highly recommended from other Slashdot users. I've also done some independent contract work this past year, so something that is more friendly in that sense would be nice. Any recommendations?"
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Best Tax Programs? More

Best Tax Programs?

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  • TaxAct (Score:4, Informative)

    by igorl ( 227789 ) on Wednesday December 28, 2005 @11:31PM (#14355894) Homepage
    I've been using TaxAct for three years now after getting fed up with TaxCut and TurboTax/MacInTax. The programs works well and the price is right.

    http://taxact.com/ [taxact.com]

    Cheers, Igor
    • Same here. I use TaxAct for federal and state. I forgot why I stopped using Taxcut, but it was decent. When TurboTax added C-Dilla a couple years ago, that put them on the effem list. I want tax software, nothing extra whether it's harmful or not.

       
    • I have actually done Technical Support and Testing for TaxACT for several years and I have to say it is the easiest to use and the Development Team fix any and all issues and even add new features each year based on User and Tech team requests,... Not too many software companies are that personable with its customers. They do take very good care of the customers and are not like the big ugly corporations that own Turbo, Kiplingers and the rest,... I mean they even offer a free basic version that allows y

  • H&R TaxCut (Score:4, Interesting)

    by jsailor ( 255868 ) on Wednesday December 28, 2005 @11:35PM (#14355921)
    I can't say it's great, but TaxCut is less oppressive than TurboTax and can (theoretically) import your TurboTax return. You can work through your independent contracting work, apply deductions, and test out multiple scenarios, etc.
    The simple fact is that most people don't really need tax software. It's not that hard to do by hand.

    • Re:H&R TaxCut (Score:3, Insightful)

      by (trb001) ( 224998 )
      The simple fact is that most people don't really need tax software. It's not that hard to do by hand.

      Absolutely the truth, and anyone using a tax program should meticulously scour the resulting generated forms and make sure you *understand* what the amounts being entered in all the boxes mean. The IRS won't question the program you used if they find a discrepancy, they'll come after *you*.

      That being said, I loved using TurboTax last year; it was my first year with a mortgage, and it was very easy to just e
    • The simple fact is that most people don't really need tax software. It's not that hard to do by hand.

      I figured my 2005 taxes in about five minutes last week, after the online "paycheck stub" was posted for my last paycheck of the year. And half of that was waiting for OpenOffice Calc to load. {rimshot} I'd previously looked up the new exemption, deduction, and tax rates for this year and plugged them into my spreadsheet, so it was really more like 10 minutes total, but all I had to do was replace last

  • Tax Season !?! (Score:5, Funny)

    by ericspinder ( 146776 ) on Wednesday December 28, 2005 @11:39PM (#14355936) Journal
    Now that tax season is upon us again...
    What, is it mid-April already!

    • Re:Tax Season !?! (Score:4, Funny)

      by EnronHaliburton2004 ( 815366 ) * on Wednesday December 28, 2005 @11:48PM (#14355975) Homepage Journal
      His true name is Ned Flanders.

      Would you look at those morons... I paid my taxes over a year ago! [snpp.com]
    • What, is it mid-April already!

      The last day of the tax year is 31 December (it's also the last day of Q4 for those filing quarterly business returns). Just because most people are too damned lazy to file until the last possible second doesn't mean that you can't file as soon as the tax forms are available.

      • Re:Tax Season !?! (Score:4, Informative)

        by ericspinder ( 146776 ) on Thursday December 29, 2005 @12:04AM (#14356048) Journal
        Just because most people are too damned lazy to file until the last possible second doesn't mean that you can't file as soon as the tax forms are available.
        Two things...
        1. It was a joke, obviously commenting on how many (perhaps most?) people wait until the last couple of days.
        2. If you actually owe money, as many people do, waiting until the last day lets you earn interest as long as possible (if you have the money put away) or pay as little interest on the credit card (if you don't have the money).
        In fact, any good accountant would tell you that it's better to write them a check and send it April 15th than give them an interest free loan. Of course if you keep writing them big checks at the end of the tax season, then they'll make you pay the extra quarterly, so keep it a small check (I really don't know that amount).
        • Unless your income in in the 7 figure range, the interest on it would be so minor its not worth the hassle, and the risk of forgetting. If you send it in early, you don't have to worry about it. They can keep the 5 bucks in interest.
        • It was a joke, obviously commenting on how many (perhaps most?) people wait until the last couple of days.
          Don't you mean hours?
        • I was going to ask "What sort of idiot would pay their taxes with their credit cards?" and then realized this is America. Poor fiscal decisions are a way of life. Unless your credit rating is excellent (and often even then) you will likely be paying at least 7-9% on that debt. The IRS only charges 5% if you enter an installment agreement to make monthly payments on your tax bill.

          • I was going to ask "What sort of idiot would pay their taxes with their credit cards?" and then realized this is America. Poor fiscal decisions are a way of life. Unless your credit rating is excellent (and often even then) you will likely be paying at least 7-9% on that debt.


            Or earning 1-2% and paying it off in a month?
      • The last day of the tax year is 31 December (it's also the last day of Q4 for those filing quarterly business returns) That depends on where you live, and presumes that you havn't changed it by request (provided your government permits that). In many (most?) parts of the world the tax year is different to the calendar year, this is generally considered a good thing because people usually have better things to do at the end of the calendar year than taxes. Example, in New Zealand the tax year by default r
      • Unfortunately both my employeers have a tendency to wait as long as they can, the end of January, to send out the W2 forms. Both companies go through a payroll processing company, and everything is electronic, so there is absolutely no reason it should take a month for them to tell me the exact same information that is on my final paycheck anyways.
  • I've also done some independent contract work this past year, so something that is more friendly in that sense would be nice.

    My tax package is named John. The assistant applications are named Steve and Kristi.

    Seriously, why would you work your butt off all year long and then cheat yourself by not using the right tool for the job, specifically a human trained in the ways of the tax code?

    No tax package will ever tell you stuff like "if you only claim 80% of your home office deduction, then you can use the Druss-Knackwurst Act of 1923 to triple your mileage". A good CPA, however, will geek out on your 1040 like a overclocker with a free supply of liquid nitrogen, with the critical difference that your accountant is legally responsible for keeping you on the good side of the IRS.

    Mine says things like "I was laying awake last night trying to figure out how to carry back your dividends from three years ago to count against your liability next year", then will go on to explain it in the same way I tell my coworkers about new CPU developments. Get one like that and keep him or her for the rest of your life: they're worth the price a hundred times over.

    • >Mine says things like "I was laying awake last night trying to figure out how to carry back your dividends from three years ago to count against your liability next year"

      I actually don't want my CPA to say this.

      I want him to say: "We are going to carry back your dividends to reduce your liabilities. I've done this before so its pretty routine now." You don't want your tax return be the one he learns how do to something.

      >then will go on to explain it in the same way I tell my coworkers about new CPU
      • I actually don't want my CPA to say this.

        That was my attempt to make plausible-sounding CPA jargon, and not anything connected to reality. He always explains his reasoning to me, and it always makes perfect sense, but there's no way I could ever hope to explain it to someone else.

        It's probably how non-geeks feel when we try to tell them why HyperThreading might not always be a great thing since it effectively halves the cache, and the P4 was already bandwidth-starved to begin with. They might understa

    • >>No tax package will ever tell you stuff like "if you only claim 80% of your home office deduction, then you can use the Druss-Knackwurst Act of 1923 to triple your mileage".

      I'm glad no software package will tell you this. There is no such beast.

      If you have a convuluted lifestyle/pay system, then I'd agree a CPA or PA would be the way to go. Most of us can do it by hand some Sunday evening while watching a movie.

    • Keep modding parent up. I used to do my taxes myself spending upwards of $70.00 for the software and hours of agony and misery. I do independent consulting every year on top of my job.

      For anywhere between $100 and $150, my tax professional always saves me way more than I could have with software because he knows the tax laws. It's definately win-win. Look at it like this... Would you rather have your advanced website coded by knowledgable programmers, or (assuming you're not a programmer) do it yourse

    • Is this really worthwhile if you only make, say, 40k a year and have no special financial details beyond a checking account, savings account, 403(b) retirement/investment account, and a few credit cards? I've done the online tax programs the last few years, but have wondered if a human could serve better. I haven't tried it yet because I figure I don't have enough money stuff going on to save more than I'd pay him to do my taxes.

      I mean, I don't (and can't) give enough to charity each year to get any serio

  • If you are filing Canadian taxes... (Score:3, Informative)

    by barguy ( 103402 ) on Thursday December 29, 2005 @12:49AM (#14356248)
    Try out UFile.ca.
    - Cheap
    - Secure
    - Multi-Browser friendly
    - Pay only if you file electronically
    - Netfile compatible

    -MM-

  • Comment removed (Score:4, Insightful)

    by account_deleted ( 4530225 ) on Thursday December 29, 2005 @02:17AM (#14356637)
    Comment removed based on user account deletion
    • Deductions add up quickly if you're in a high tax bracket.

      For now.

      If you're in too high of a tax bracket, you'll get nabbed by the Alternative Minimum Tax which makes your deductions disappear in a puff of smoke.

      The nice thing about the AMT is that it was created in the 1970's, but never indexed to inflation - as time goes on, more and more people get caught by it.

    • Or you could just spend a few minutes and figure it out yourself. It really isn't that hard. and with the premium version of taxcut or quicken, it saves having to spend time downloading the forms and instructions. Granted, I'm in a bracket where I get almost everything back, but I've had to deal with the long form on paper before, and its not that complicated.
    • Go to a real tax guy, not one of those H&R block things. They will hire anyone, give them a couple days of training and send them out to do your taxes.

      As a CPA, I did a season with H&R in Minneapolis my first year out of college - the hours were flexible and I learned plenty during the tax training. There were also typically at least 2 reps in a given office that have been doing taxes for +5, maybe even +10, years.

      If you are filing a middle class return like many of the other customers, then
    • >>not one of those H&R block things. They will hire anyone, give them a couple days of training and send them out to do your taxes.

      pure ignorance on your part. My dad (retired engineer) applied and took their course. It starts with 2 months of twice a week intensive training, weekly tests and three major tests. Then, if you get more than 80% on the final you're eligible to interview, and they're selective on who gets hired. Then there's additional training on their software. Novice preparers only
      • Novice preparers only do simple returns, they have to "level up" with experiance points.

        I can just imagine hearing the guy in the next cubicle at H&R Block, "Woo hoo! I just completed a +5 1040A. Level 2 here I come!"

        Yeah, EPs are cool.

    • H&R Block is not that bad. The initial training class is 66 hours of class (about the same contact time as two college classes), plus over 20 hours of pre-work training, tax updates, etc. And all these classes have tests that you have to pass.

      After the first year, you have to have 24-30 hours (minimum) for rehire, plus that same 20+ hours of pre-work, tax update, and a few other courses that are required. This year, because of some significant changes in the tax laws, there were a couple more require
  • Your best bet is H&R Second best bet is TaxCut
  • Fill out a 1040. You know, with a pencil. Takes about ten minutes, plus another five or so for the Ohio IT-1040. I pick up the forms a the public library. Unless you've got something complicated going on, like self-employment or real-estate holdings, I just don't see the point in spending an extra $20 or more on special-purpose software that isn't useful for anything else and will have to be replaced with a new version next year. Maybe if the IRS distributed their own tax software, for free, I'd consid
    • The IRS does provide free software. Last year I visited irs.gov and follwed the link, I was able to use taxcut (the online version) and efile for free. I only paid to efile in the state I live in. If you go to their website they have a list of the free software. The rub is, you can only efile for free if your gross income is less then 50K. But, you can always print the form and mail it in for the cost of a stamp.
    • Or you could fill out the 1040 and other forms using Adobe Acrobat based forms that the IRS provides. 1040 - http://www.irs.gov/pub/irs-pdf/f1040.pdf [irs.gov]
  • because last year, it told me my entire Federal tax burden was around $780. I make middle-5 figures. That's less than 2% of my gross income. Woo-hoo!

    Unfortunately, I deducted at the single-person rate, so Uncle Sam gave me a whopping refund back. People are always so happy to get their own money back...

    So, how did I do it? I am married, with one kid, and a mortgage. My husband is a college student. We maxed out my 401(k) and Roth IRA contributions. Those increase our deductions, lower my net income,
  • The fee is tax deductible, you'll get better results, and if there is a problem, you accountant has to assist.
  • Abolition. Taxation is merely theft by the biggest mob.

    Bob-

    (However, use a tax accountant. Not only do they usually save more money than they cost, their fee is tax deductable. It also spreads the liability in case the IRS decides to take you down.)

  • Cliff... I have a bias as noted below, but based on the fact that you have some small business income (Schedule C), it's best to spend a little more for a tax program that will thoroughly walk you through this and other challenging areas. This is what differentiates TurboTax from the other programs. In the challenging areas, TurboTax will walk you through the questions with complete descriptions and examples of what is needed. In the end, you'll be more confident that you've completed your return accurately
    • Thanks for the info. However, the original poster's question was if there were any Tax Software programs that were Open Source. I'm going to ask the silly question here...Why has TurboTax or TaxCut or any of the tax programs not developed a Linux or Open Source version of their software to use. Numbers indicate that there are more Linux PC's in use than Mac's, yet you only develop for Windows and Mac. I'd use your software, and I'm betting quite a lot of the Slashdot crowd would as well if you'd create a
      • TurboTax Online does support Linux, so that is one option.

        We have not previously provided a Linux version of TurboTax (desktop) simply because it has not even hit our radar screen in terms of customer demand. While it is probably not a huge technical hurdle to develop, I suspect it would not come close to providing the return to justify the development efforts. Years ago we developed the tax language to enable us to write the code once and port to Windows, Mac and Internet versions of TurboTax. That early

        • Ever thought of just dropping in a simple survey in every box?
          Want a bigger return, make it a postage paid post card or a notice with a URL to the survey. Given the number of other pieces of paper that come with the disk, how hard could that be ....
          • Regarding the inclusion of a survey in each box of TurboTax... Thanks for the suggestions, and yes, we have considered that. One of the problems with this is that you don't get a reliable read from the results. What you get is feedback from those customers who are predisposed to responding to such surveys. You then miss out on all the other customers who don't bother responding. That's good if all you want are results from those "responsive" customers. That's why we do a statistically valid survey of our cu
  • Prices have majorly changed from last year, for the 2 main tax program. Theses prices are normal "Deluxe version" retail prices. If you have simple tax needs check for thier web based ones which for some will be free.
    Taxcut increased $10, no across the board rebates. Includes a single state for free no need to mail in rebate. Includes a single e-file rebate.
    TurboTax increased by $20 and dropped the previous almost across the board rebate. Includes a single state for free no need to mail in rebate. D

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