Using a CPA vs. Turbo Tax

[havoc]

Anyone here used Turbo Tax? Did it work ok? Happy with it?

Would the IRS look at Taxes done by you(Turbo Tax) and Taxes done by a CPA in a different manner, would one be more reputable for the IRS?


Can't CPA's get creative with some things?


Any pro's or con's for a CPA vs. Turbo Tax?


Thanks!

 

[fogg88]

I've used the web-based TurboTax for the last 4 years, and have been happy with it. I think it's great if you've got all your paperwork, know what you're going to deduct, etc. I think a CPA or tax preparer would be more beneficial if, as you said, you need to get a little creative...

 

[onerepmaximum]

I've used Turbo Tax for the last 3 years. I don't itemize or anything and it's pretty simple. I'd imagine if you own a business or something you'd want a CPA to do it. My refund should be deposited in to my account next week. One of the benefits of Turbo Tax.

 

[jerkbox]

i use turbo tax......however, my taxes aren't very complex, as I don't have a lot of investments, and don't own a house, etc. I pretty much have my w2, any 1099's from contract work, and the form for my student loan payments.....it would be a waste for me to hire a CPA. I just use turbotax online, usually takes me an hour or 2, and I get my refund in 10 days.

 

[Longhorn85]

I've used either Turbo Tax or Kiplinger Tax Cut every year for the last 8 years with good results. Kiplinger is a little less expensive.

 

[vixenbabe]

I'd love to get you in a spreadsheet....

CPA...He/she can do wonder's with your small biz. expenses, hon!

How have you filed in the past? Any changes from this year vrs. last?

Use turbo if this year "feels" like last year and save yourself a couple hundred bucks the CPA will charge you!

 

[MattTheSkywalker]

You have your training biz plus your regular gig as well as your pritein shake biz right?

Get the accountant, if for no other reasons than that they will be up to date on current tax law.

 

[beastboy]

A CPA screwed me......no help at all.

 

[WODIN]

You need a cpa. Get someone who does small buisness taxes for a living that you cant trust. Do the lunch or dinner meeting thing to discuss business and get to know a few. Basically interview a few and find one you trust.

But if you're carry 2 or 3 personal small buisiness operations and inventories with them then you need a cpa.

 

[sh4dowf4lcon]

You have your training biz plus your regular gig as well as your pritein shake biz right?

Get the accountant, if for no other reasons than that they will be up to date on current tax law.

If you have no understanding of the various tax laws and if you have never prepared a tax return then definately get an accountant. I have personally used Turbo Tax and it is also up to speed with all new tax laws. One by one it asks you about different types of deductions and form numbers. If you have some experience with preparing your own return and you can understand questions about different deductions you should use Turbo Tax. The IRS does not look at a return any differently because of how it was prepared. when the forms get filed and you print your copies, they look crisp and clean like straight from the accountants office. In fact, Turbo Tax will tell you when it spots and auidit "flag", so you can verify you have what is needed to prove those items before you file.

Peace!