Turbo Tax at the last minute!
Written: Apr 05 '02
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Pros: Easy to use, thorough, hassle-free, free for filers w/less than $25,000 AGI
Cons: Computer glitches possible, fee for certain filers
The Bottom Line: Simple, efficient, complete. Takes the hassle out of preparing your own taxes. Highly recommended!
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| dameblanche's Full Review: Quicken.com Taxes |
Turbo Tax
Last minute filers like myself often need a bit of help. I'd determined to prepare my return on my own, but saw a website listed on my preparation booklet. This website www.tax.state.ny.us/elf contained a link for Quicken's "Turbo-Tax" online filing system. www.turbotax.intuit.com
Cheap is good... free is better!
If you have an adjusted gross income of $25,000 or less, you're in luck. As a part of the Tax Freedom plan, Quicken offers this service for free. If you happen to earn a bit more than a first-year teacher (for example), don't fret. The services are still available for a reasonable fee. Depending on which forms you use, whether you're filing both Federal and State taxes or only one, and whether you choose additional upgrades, the fee can be anywhere from less than $5 to $45ish. (But if you're making more than I am, this won't hurt that much! The convenience is worth it)
Simplicity
Now I'm guessing that if you are reading this epinion, you're fairly adept at clicking a mouse and answering online questions. TurboTax is SIMPLE to use. This is the first time I haven't been able to use the "EZ" telefile, and I still had no trouble. Compared to the forms and the instruction booklets, this was a BREEZE.
Guide Me
FAQ's and "need help?" links were continually available, and answered even the pickiest questions that I had. I never had to search through an instruction booklet, consult a tax table, or fill out a worksheet to see if I qualified. (Or at least I didn't KNOW that's what I was doing.)
At certain points TurboTax asked me if I qualified for certain credits or if my circumstances required me to enter additional information. Being the nitwit rookie that I am, I usually wasn't sure. Instead of limiting my responses to "yes" or "no," TurboTax gave me a "Guide Me" option. (Sometimes a "worksheet" in disguise!) The "Guide Me" option would link me through certain simpler yes/no questions to help me determine which answer I should give to the first question. When I had made that determination, it would bring me directly back to where I had left off. This way I knew I wasn't forgetting anything or repeating questions I'd already answered.
Affirmation for us insecure ones
Every once in a while the tax form would ask about a form that SOUNDED frightening. Just as I would get nervous, turbo tax would gently remind me that "this form is not common." A sigh of relief later, I was moving forward.
And you know you haven't made any computation mistakes, because the computer has done it all for you!
Get Organized
At the beginning of each section (Personal information, Income Information, etc.) TurboTax lets you know exactly what information you will need to answer all of the questions. You then have time to gather this information if you don't already have it with you. Sometimes I'm organized, other times I'm not. If I had given my folder of tax-stuff to a human preparer, I'm SURE I would have gotten a few phone calls asking me about missing items.
Curious? Or just greedy?
Just a note of interest... as you fill in your W2 information, an amount of money begins to appear at the top right-hand corner of the screen. It changes with each additional item you enter... it's your refund! It's so exciting to see it jump up a few hundred dollars when you answer more questions... :) I guess it could be sad if you're on the other end of the stick, though.
Did I mention SIMPLICITY? Once you've entered all of your information for your federal return, you're ready to do your state return. Most of your information has already been entered from your federal return. The system double-checks with you to be sure that it is still correct.
No overlooked deductions
If you aren't a tax genius, there just might be some money you overlook hidden in line after line of unrecognizable print. TurboTax finds this for you as you go along, explaining each item and guiding you through to see if you qualify.
Just before you file, there's also a "deduction finder" option (free) that will review your return and flag any forgotten lines or possibly overlooked money. It's worth a try!
By the way, Turbo Tax actually gave me some advice about my IRA and how I could increase my refund this year. (I took my father's advice instead, for the long-term benefits.. but the information was useful!)
Double-check for errors
We're human and we all make mistakes. Even "sins of omission" are caught and corrected by the online TurboTax system. This makes it easy to go back and fix things and continue with your life. If only all mistakes were that way...
Audit flags
Just before you file, the system goes through your returns and alerts you to items that might look suspicious were you to be audited. This process takes only seconds and could save you a huge hassle.
Save and continue later
Oops! You're preparing your online return and the dog walks in holding a live rabbit in his mouth, the phone rings, your kid shows you these weird itchy bumps and your(you fill in the most likely person, place, or thing) needs immediate attention. You can save your place and log in when it's a more appropriate time. Your return is saved under your registration name and password, which you set up when you begin. (something you've done a million times before)
Many options
You can use Turbo Tax even if you don't intend to file electronically. It is very helpful in filling out the forms. You can also file both Federal and State returns electronically. If you happen to have your previous year's tax return handy, you can even sign electronically using some information and a password.
*If you choose not to "sign electronically" you can still file electronically and send your signature on paper when the IRS accepts your return. You find out in 24-48 hours.
You have the option of being paid by direct deposit, by check, or by "2-3 day refund loan" if you're really in a pinch. (The direct deposit only takes about 10-16 business days though).
You can file both Federal or State returns, file only one or the other, or even amend a return that was previously filed. You can also file extensions through the system.
Requirements
For a full list of system requirements, see the website (refer to first paragraph). To print a copy for your records you need to have Adobe Acrobat 4.0 or higher. You can download it as a part of the entire process.
I feel professional
When I printed out my copies, I felt so proud - all of my information was typed in, all of it within the appropriate lines and boxes...
TurboTax is cool
The reason I put off filing my taxes until the first week of April is that it intimidated me. I was amazed that Turbotax was such a breeze. I feel more confident than I would have had I stuck to the traditional "paper" method. I think I'm even getting more money back. And for me, it was absolutely free! I plan to use the same system next year, even if I do have to pay for it.
Now my only concern is where to put all that money I'm getting back.... Any ideas?
Recommended:
Yes
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Epinions.com ID:
dameblanche
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Location: Houghton, NY, USA
Reviews written: 18
Trusted by: 2 members
About Me:
Young Middle School Teacher, loves teenagers and life experiences.
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