Tax Return question... - Chicagoland Sportbikes
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post #1 of 10 (permalink) Old 01-04-2006, 11:45 AM Thread Starter
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Tax Return question...

Hate to think about it so early in the year but....

For the past few years I've been using TurboTax or TaxCut to do my taxes. Before that my uncle who did it for a living was doing them for me... but I've always been able to to use a 1040 or 1040EZ before that.

This year I purchased a house and got married....... will either of those programs work well for me or am I better off going to a "tax guy?"

Thanks guys...........
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post #2 of 10 (permalink) Old 01-04-2006, 11:47 AM
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My wife and I have been using TurboTax for years and have a fairly complicated return because of a special needs child agmonst other things.

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post #3 of 10 (permalink) Old 01-04-2006, 11:58 AM Thread Starter
Is this Russia?
 
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Ok cool - I just keep getting reminder emails for the renewal for Turbo Tax... wasn't sure if I should buy it or not.

The worst part about doing taxes last year was my wife had like 5 or 6 part time jobs over the course of the year...so entering all that damn W2 info was a big pain!
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post #4 of 10 (permalink) Old 01-04-2006, 11:59 AM
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Neither of those items should make a return too complex. I've done them myself on a paper 1040 and just followed instructions. If you've owned the home long enough to pay property taxes and a lot of interest, you will want to itemize your return. The computer programs just simplify the process even further.

-Mike
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post #5 of 10 (permalink) Old 01-04-2006, 12:00 PM
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Quote:
Originally Posted by MadMax1996
Ok cool - I just keep getting reminder emails for the renewal for Turbo Tax... wasn't sure if I should buy it or not.

The worst part about doing taxes last year was my wife had like 5 or 6 part time jobs over the course of the year...so entering all that damn W2 info was a big pain!
You might want to fire Bernie (Banditcpa) a PM......I think he uses Turbo Tax too.

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post #6 of 10 (permalink) Old 01-04-2006, 12:02 PM
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I used turbo tax through a similar transition no problems

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post #7 of 10 (permalink) Old 01-04-2006, 12:23 PM
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I've owned my house 3 years now, never used a tax computer program. It isn't THAT complex, but it does take a couple hours to do, most of that involving finding all the statements from your lendors and local government to determine exactly how much to write in.

I usually break it up into 2 days, with a third day used solely to double check the math and rewrite it.

I get the feeling if I did it on a computer, it would take 1/2 hour, no double checking the math. I mean, all I've got is myself, 3 jobs and a house.

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post #8 of 10 (permalink) Old 01-04-2006, 12:43 PM
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Piece of cake...That program will handle all of those deductions. Just don't forget to deduct all of your expenses including mortgage interest payments, closing fees (found on the HUD-02 form, in your closing packet), and property taxes.

Also, you'll be able to deduct the cost of the tax preparation software in the next fiscal year (2007).

-- Matthew --

"I'm just a simple man trying to make his way in the Universe" - Jango Fett
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post #9 of 10 (permalink) Old 01-04-2006, 01:40 PM
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I vote yes on Turbo Tax, it asks all the questions and tells you if you have any red flags. Plus it throws it into a nice electronic file for fast filing and returns!

<--------Sticky Nicky
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post #10 of 10 (permalink) Old 01-04-2006, 02:40 PM Thread Starter
Is this Russia?
 
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Thanks again guys.....looks like it should be a breeze. To me it's worth buying because before I would do mine, my fiancee and my moms state and federal return.

Last year my fiancee and I filed separately (duh) but we plan on filing together since we are now married - anything special I should do before going ahead with that (like submitting some type of other form to Uncle Sam)? Or do I just select "joint" and enter both of our info?
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