I have always used TurboTax software before. But this year they re-arranged their product offerings and got away with some rebates. If I am not mistaken there is no more $10 mailing rebate and no rebate for electronic filling fee either. Due to these changes to TurboTax, I am willing to give H&R Block TaxCut software a shot. I would appreciate it if someone who had used TaxCut software before would share their experience of the product.
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posted: Dec. 16, 2005 @ 11:14a
dogmatixpsych
Thrifty Member
posted: Dec. 16, 2005 @ 12:16p
Both TurboTax and TaxCut are easy to use (I think TaxCut usually gets slightly better reviews though). If your taxes really aren't too complicated then try one of the free online tax services (the government has a list of the providers IRS).
You can do federal taxes for free if you make less than $50,000/year (gotta love being a student) and state for pretty cheap (or just fill out state by hand and then it is free).
TaxCut is good though and very easy to use.
NatronsMean
Happy Member
posted: Dec. 16, 2005 @ 12:19p
Even worse, I have not been seeing the sweet deals where you can get a bunch of software for free. It's $50 for my usual, tax cut deluxe and state, get money 2006 free. Nothing in hot deals forum. Guess I'll wait for post-Christmas sales.
BTW, I changed over from turbo tax a while ago, after they bundled spyware, and had no issues converting.
RJL1
Ancient Member
posted: Dec. 16, 2005 @ 12:22p
Switching around can be good. Earlier this week I received a package in the mail from TaxCut. I'd used them a while back but had resorted to TurboTax in the last couple of years. Low and behold TaxCut had sent a "Welcome Back" free Deluxe version including State Tax software (including free e-filing), wanting to bring me back to using their software. Nice little value for having switched around, I'd say...
Thanks for the advice. One more question though... can TaxCut import previous year's TurboTax files? I really liked this feature of which TurboTax does to its own files, since I don't need to enter personal information again and it also does automatically any of the carry-over adjustment, such as capital gain loss, year over year property depreciation and etc.
dogmatixpsych said: Both TurboTax and TaxCut are easy to use (I think TaxCut usually gets slightly better reviews though). If your taxes really aren't too complicated then try one of the free online tax services (the government has a list of the providers IRS).
You can do federal taxes for free if you make less than $50,000/year (gotta love being a student) and state for pretty cheap (or just fill out state by hand and then it is free).
RJL1 said: Switching around can be good. Earlier this week I received a package in the mail from TaxCut. I'd used them a while back but had resorted to TurboTax in the last couple of years. Low and behold TaxCut had sent a "Welcome Back" free Deluxe version including State Tax software (including free e-filing), wanting to bring me back to using their software. Nice little value for having switched around, I'd say...
You may discover that it needs a paid-for activation code to make the software work. Turbotax has used this marketing method for years; looks like Block is doing it also.
PorPor
Senior Member
posted: Dec. 16, 2005 @ 1:55p
I have always used Tax Cut. It is inexpensive and easy to use.
NatronsMean said: Even worse, I have not been seeing the sweet deals where you can get a bunch of software for free. It's $50 for my usual, tax cut deluxe and state, get money 2006 free. Nothing in hot deals forum. Guess I'll wait for post-Christmas sales.
I have not really paid for TurboTax for so many years. Just buy it with other FAR items, apply a coupon, and sell the FAR stuff on eBay. I think I'm ahead by about $75 this year (4 FAR software items).
scottmagic
Member
posted: Dec. 16, 2005 @ 3:00p
The 2003 version of Turbotax attempted to register itself automatically when installed. This is the basically the definition of "spyware". That year Turbotax received close to 20000 complaints with this issue. After that incident, I have been happy with TaxCut.
Not sure about whether you can import turbotax info from previous years into TaxCut but I know the other way around isn't supported by TurboTax. It only imports from its own files from previous years.
That means switching, you'll have to re-enter a lot of info. It's one way they think they'll retain customers. It might work but it also works to deter customers from switching so not sure what is better.
Anyway, used TaxCut previous years and this year I've had the opportunity to compare and I have to say that their interview process for deluxe versions of both is nicer for TaxCut than for Turbotax. Especially, the help section of Turbotax 2005 is way less clear than the equivalent of TaxCut. It quickly points you down to the tax publications themselves. Personally, I want to have to read as few as possible of those pubs so I would have preferred relevant advice (written in english not legalese hehe) throughout the interview and Turbotax definitely didn't seem very good for that this year.
I'd wait a little longer to make a decision and check out reviews. A lot of places will have reviews early January or before. Beyond the ones getting paid to throw a review in favor of one or the other, you'll be able to tell which is better. For me, I prefer TaxCut again this year after trying out both.
TurboTax conveniently mailed me a TurboTax Total Tax Solution Deluxe CD worth $39.95. I used TurboxTax last year to do my taxes. I am able to file Federal + State with this package.
If you can get hold of one of those $15 of 75 Staples coupons that everyone seems to be getting in mail, you can buy taxcut deluxe+MS money deluxe+shredder for $5 AR before FatCash and Staples rewards. I do that ever year just for the 1 yr credit monitoring that comes with money.
Sometime early next year there will be a list of software that can be used for free on the IRS web site. Last year there was turbo tax that I used and my return was fairly complex.
i've used both TurboTax and Taxcut. Started with TT some 5-6 years ago. Switched to TC after 2-3 yrs, imported previous TT year return into TC ok. Then last year used TT after using TC for 2-3 yrs. TT also imported TC previous year return ok.
both programs fairly easy to use, but if you need help on a topic or entry, i find TT help is better.
that said, i'm leaning towards TC this year because the deals look a bit better, but if a better TT deal comes along......
dumroo said: Sometime early next year there will be a list of software that can be used for free on the IRS web site. Last year there was turbo tax that I used and my return was fairly complex.
There have been some changes in the Free File program that limit the number of people who qualify. For example, your AGI will need to be under $50,000 for 2005 tax returns.
I used Taxact last year through thier website - taxact.com - and I was very happy. If you have a relatively straightforward tax situation I would give it a look. They have various versions and methods from free (at least for federal) up to about $20. The best deal is probably the Ultimate Bundle done over the web, for under $16 you get federal and state software and the first federal e-file free. You can use it unlimited times as well. Although you can only e-file 5 times I believe.
Anybody think TaxCut vs. TurboTax would handle my situation better? 2 moves between 3 states, started an LLC in one of them...?
I was thinking of purchasing H&R Block's $99 online version with 'unlimited Ask A Tax Advisor' sessions. But maybe I'm thinking my situtaion is more unique () than it really is?
Twopecker
Cranky Member
posted: Dec. 17, 2005 @ 8:32a
moniker said: I have used Taxact for a number of years. $9.95 to download w/free electronic filing of one return.
Taxact user myself...both federal and state. I have been very pleased with it as well.
RJL1 said: Switching around can be good. Earlier this week I received a package in the mail from TaxCut. I'd used them a while back but had resorted to TurboTax in the last couple of years. Low and behold TaxCut had sent a "Welcome Back" free Deluxe version including State Tax software (including free e-filing), wanting to bring me back to using their software. Nice little value for having switched around, I'd say...
Did you installed the CD? It still says it cost $30. So I thought it wants me to pay after installation.
Thanks OP, this is a good reminder post. I've never used a software package for filing and still don't know that I want to do so. Do people really think using these saves any money?
I figure I have the time to fill out the forms and have the time to read/understand the various regs so that's what I do. The 'bonus' is that sending hardcopy might actually cost the extorting bastages more to process than an e-file. It's not much of a consolation prize, but I'll take what I can get.
Have used TaxCut now since 2000. Still have the disk from 2000. Started using it because it was cheaper than Turbo Tax and had good reviews in PC magazine. I have gotten every rebate I ever sent in from them. No e-file rebate from Turbo Tax anymore but TaxCut will still rebate the e-file fee.
Also, I like the tie-in they have with MS Money. Get MS Money free after rebate every year.
dunndalton
Senior Member
posted: Dec. 17, 2005 @ 3:55p
I used to use Tax Cut. My 2002 return was audited, I had a fairly complicated tax year with stock options and inheritance, etc., but even though I entered everything correctly, the Tax Cut software had a bug in it -- My return that year was very large (the reason for the audit?), and two years later the IRS notified me that I owed them over $10,000. If I had purchased the audit insurance, Tax Cut would have done something, but they claimed no liability. So, now I use Turbo Tax and the freebies already mentioned in this thread, and after I'm finished, I go over my return manually.
Lessons I learned: 1) call the IRS if you get a letter -- my phone call saved me all interest and penalties which was over $700, and 2) if I have a complicated return, I spent time manually looking at the form before I submit it.
I tossed the "free" Tax Cut Software that showed up in my mailbox.
mikeywl
Senior Member - 2K
posted: Dec. 17, 2005 @ 10:03p
I just downloaded TaxACT right before viewing this thread. One of the guys at my work recommended it. I've used TurboTax for many years, but with their price changes (read more expensive), I've decided to give TaxACT a try. It's free, so no $ out of my pocket. Free filing too. The state software is pretty cheap, and free filing as well. The state filing fee for TurboTax is more than the cost for the TaxACT state. TurboTax has been good, but for the last few years, I've had to manually add info on Schedule C (my wife's self employed). That and getting rebates for less than what was listed on the rebate/receipt, has soured me a bit on TurboTax.
jael
Senior Member
posted: Dec. 17, 2005 @ 10:24p
moniker said: I have used Taxact for a number of years. $9.95 to download w/free electronic filing of one return.
I've used TaxAct ever since it was called Parson's Tax Edge.
Had TurboTax--got sick of their greed and spyware --Shifted to TaxCut --had to fat finger a lot of info on depreciation and other data but it was worth it...For Turbo Tax customers wanting to switch be sure to do the complete data printout from the previous year..
i used taxact for few yrs for fed for free, and i purchased their state program. i do not do efile just because i do not want to send my tax info across the internet (oh well).
i just bought the taxcut from target for 19.99 (fed + state).
do u guys think the price is the MSRP? should i return it and wait for more rebates / deals, or reviews from fw'ers?
RS4Rings
Back in Rehab
posted: Dec. 18, 2005 @ 8:06a
I have my account do my taxes but the last few years I have used TaxAct online to get an idea of my situation before meeting with him and have found that is comes extremely close to what he comes up with
Skipping 114 Messages...
tooshy
Frivolous Member
posted: Apr. 9, 2006 @ 12:29p
tooshy said: I'm continuing my saga on how bad Turbotax is this year.
I spent countless hours working around a software error (I'm convinced it is so). Judging from the turbotax forum, other people are experiencing the same and other problems as well. The problem is it is not easy to contact and report these problems and get a resolution or admission (not admittance) of error.
A lot of the "errors" are not quite errors, but a programmed choice to handle any deviation conservatively. I spoke to a local government dept tax programmer yesterday, and she concurred this is her take also. If you do an override, the tax program will assume the very worst and overstate your liability if there is a question. Very frustrating when turbotax is not responding to complaints.
My point is be very careful....especially this year for some reason.
Besides this programming challenge, there are other serious tax handling mistakes. I know because I made the same error three years ago, corrected with an amended, got my refund without questions, and now turbotax is overlooking the same issue.
To explain the goofy way TT handles bonus "9-11" depreciation on "furniture and furnishings" on Schedule E, if I recall correctly, every time I override passive activity (to correct the "error" above), our adjustment to state AGI goes up by the difference. According to the state tax programmer, she offered the reason that maybe TT is figuring conservatively that since the state did not adopt the 9-11 bonus statutes, the difference is 9-11 bonus and therefore should be added to AGI. TT never asked whether I took this depreciation. I didn't know about this, apparently you have to indicate to opt out according to the programmer but TT never asked my choice on the matter. The real "bonus" as applied to us is a very small amount, nothing to lose sleep over...
*!!* In thinking back, maybe I circumvented the Q&A that might have ensued if I gave them the dates for each depreciated furnishing. I overrode the whole thing because I used my calculated worksheet figures instead. TT called this an "error" and consistently went back to this issue. So maybe if I did complete the Q&A regarding depreciation, it might have asked about the "bonus" opting out.
However, judging from the complaints in the TT forum (see my post above), there are a number of various complaints about TT this year in particular. Maybe there is a *user* error to the carryover loss problem (see link above).
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