Intuit TurboTax Premier - For Investment & Rental Property Tax Deductions

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pokey72
Epinions.com ID: pokey72
Location: Manitowoc
Reviews written: 6
Trusted by: 53 members
About Me: Hi Everyone, I will try and pop in more often. Busy writing.

Turbo Tax Premiere 2007 CD Fast and Efficient

Written: Apr 05 '08
Pros:Fast, efficient, easy to follow, information you need right at your finger tips.
Cons:I did not like having to upload it to my computer.
The Bottom Line: I highly recommend Turbo Tax Premier, it is easy to follow, fast and efficient and you don't have to pay a tax preparer.

I received my Turbo Tax 2007 CD after we had already had our taxes done. I decided to give it a try and see if it was as good as our Tax preparer we have each year. I put the CD in my computer, followed the easy steps and within 20 minutes it was downloaded and ready to go.

I was asked if I had taxes on Turbo Tax from last year, things about our lives in 2007, registration, etc.

I took all of our numbers, of hired help, machinery repair, electricity, heating, animals, etc., and entered them in the forms that were offered. Turbo Tax gives you a list of areas to use such as: send feedback, live tax advice, turbo tax support, community, find tax help. These areas came in handy when I had a question about where to enter certain things for the farm.

They have a list of new IRS publications that you can look through to help you with different areas of your taxes example: Medical and dental, misc. deductions, business expenses, travel, entertainment, gift, and car expenses,
investment income, retirement (IRA), How to depreciate property (this one really came in handy, the tax preparer always did the depreciation, this took me step by step through the process. There are also many other publications. These areas really help with looking up information you need for filling in the forms, and it is all their at your finger tips.

There are videos that were handy. Examples: depreciatable assets, Inventory Write-Off, Self employment, health Insurance, child care expenses, Tax credits for Education, electronic filing, owning a home, selling your home, reporting rental income

It was always more difficult to look up these items to prepare for our Tax preparer. I was able just to play the videos and get the information such as the deprecitable assets(with the farm and all of the inventory and machinery as well as buildings this really came in handy and was easy to follow, you don't need a degree to use Turbo Tax)

The Turbo tax tips were a huge help and easy to follow. They also have a live community where you can go on line and ask questions. If the answer is not there at your finger tips you can check out the community and see what is being discussed, or enter your own questions. This was extremely helpful.

I could search for topics on my taxes such as we live on a farm, all I did was start typing in farm, and a list of all areas needed for my tax preparation was there.

They have an area that will tell you your chances of being audit. An area to keep you up to date and accurate for; help for new homeowners, on keeping donation receipts, this year there has been an increase in standard deductions and increased and dependent exemptions, all depending on your age and income.

You are able to file your taxes electronically and your 2007 taxes are stored for you for future use.

My major complaint is that I had to download Turbo Tax 2007 to my computer. I would have preferred that it not use space up on my computer(when I was done with it I deleted it from my computer and stored it for next year, they have my email and home address and will send me a free CD update for 2008. If you are on dial-up (like we are) or they will send you an update for next year via email. Which will keep me up-to-date with Turbo Tax.

Turbo Tax was easy to use, it walked me through everything step by step. I was done with my taxes in just an about 3 hours. It probably would have taken less time but, I had other things I had to get done at home as well.

I would highly recommend Turbo Tax 2007 CD, it is very efficient, and easy to follow. A lot easier and definitely cheaper than paying $350 to have a preparer do them My results from our tax preparer and Turbo Tax 2007 were very similar. I was able to email my result to my tax preparer for the minor tweaks that needed to be done. We will be definitely be using Turbo tax again next year.

I received Turbo Tax 2007 CD free from Hass MS&L for my honest opinion and review.

Recommended: Yes

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