Benner Posted February 7, 2017 Report Share Posted February 7, 2017 So previous years my wife and I as well as my parents have used a tax accountant to file our returns do to the ease and multiple deductions via tools for work, child care and such. Doing my wife's and myself's taxes this year via TurboTax. So far I'm seeing a lot more in terms of return than previous years. Income has been similar with the exception of my wife and myself only having one w2 each. I'm doing everything by the books and following instructions to a T with complete honesty. What I'm wondering is how accurate TurboTax is and will I have to worry about getting audited if our return is way different than precocious years. So far I'm looking at about 2.5 times my previous years returns. Quote Link to comment Share on other sites More sharing options...
Exodus Posted February 8, 2017 Report Share Posted February 8, 2017 So previous years my wife and I as well as my parents have used a tax accountant to file our returns do to the ease and multiple deductions via tools for work, child care and such. Doing my wife's and myself's taxes this year via TurboTax. So far I'm seeing a lot more in terms of return than previous years. Income has been similar with the exception of my wife and myself only having one w2 each. I'm doing everything by the books and following instructions to a T with complete honesty. What I'm wondering is how accurate TurboTax is and will I have to worry about getting audited if our return is way different than precocious years. So far I'm looking at about 2.5 times my previous years returns. I gave up on those programs and tax companies like hr block years ago and got a CPA. Very satisfied. We also structure our withholding so we don't owe or get a "refund" so we know what to expect. Sent from my SM-G928V using Tapatalk Quote Link to comment Share on other sites More sharing options...
87GT Posted February 8, 2017 Report Share Posted February 8, 2017 I've only used turbo tax for returns. I've done efile and also printing the forms and mailing in. Knock on wood I've never been audited. FYI my federal refund hit my saving account yesterday Quote Link to comment Share on other sites More sharing options...
iwashmycar Posted February 8, 2017 Report Share Posted February 8, 2017 TT is pretty simple. If you've input all the forms and back checked it then go ahead and send away. If you've been in the state all year it makes it real simple. Just look at the tax withheld previous years. If your AGI is the same or close and so is the tax withheld then I would be concerned. Don't know if tax brackets have changed but they are never in your favor lol. This year I used Credit Karma. All free Fed and State since they extended an invite. I am a little weary as the program seems too guided than even TT was. Guess we'll see Quote Link to comment Share on other sites More sharing options...
Richard Cranium Posted February 8, 2017 Report Share Posted February 8, 2017 A few years back my taxes got more complicated and I switched from TT to using an accountant. She went over my previous years with TT and did not find anything significant that they missed or anything alarming. I was always very nervous even using TT. For peace of mind it might be worth running this years past your accountant and seeing if they can figure out why TT has you getting 2.5 times the usual return. That is a red flag for me that something isn't right. Better to spend a few bucks on an accountant now than 25 times that on the IRS later. Quote Link to comment Share on other sites More sharing options...
Cordell Posted February 8, 2017 Report Share Posted February 8, 2017 I have used Turbo tax the last 4-5 years, never had an issue. I'm a little paranoid so i pay extra for their no questions insurance, it's probably just them praying on people's tax fears but I buy it anyway. Quote Link to comment Share on other sites More sharing options...
SPL_Josh Posted February 8, 2017 Report Share Posted February 8, 2017 If your using turbo tax you should be fine Quote Link to comment Share on other sites More sharing options...
BloodRed Posted February 8, 2017 Report Share Posted February 8, 2017 I am not a Tax Accountant, but I have been using Turbo Tax for over 10 years filing my own and others taxes without any issues. Probably close to 80% of the CPA or Accountants you pay to have them do the taxes for you, they run your taxes through Turbo Tax or similar off the shelf product. Normally it is just the older Accountants that might still do them by hand. Just follow the step by step instructions and be honest and you are probably going to be fine. Quote Link to comment Share on other sites More sharing options...
blue98ls1 Posted February 8, 2017 Report Share Posted February 8, 2017 I am going to guess you are seeing a bigger return due to having kids now. You should be fine using Turbotax. We have used it for years. Quote Link to comment Share on other sites More sharing options...
jeffro Posted February 8, 2017 Report Share Posted February 8, 2017 Been using TT for about 9 years now and never had an issue. Quote Link to comment Share on other sites More sharing options...
Wease Posted February 8, 2017 Report Share Posted February 8, 2017 I've also been using Turbo Tax for a long time. Never had an issue. The only time I did was due to my own fault, changing jobs and forgetting to setup my School District Tax. I didn't pay it and like two years later they sent me a letter about it, so I had to pay then. But again, my fault... :nod: Quote Link to comment Share on other sites More sharing options...
cstmg8 Posted February 8, 2017 Report Share Posted February 8, 2017 I'm no accountant, but I did stay at a Holiday inn Express last night. I've been using turbo tax for 15 years, including 8 years of self employment. No issues. Sent from my XT1585 using Tapatalk Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted February 8, 2017 Report Share Posted February 8, 2017 Used Turbo tax for years with out any issues at all with multiple W2's. Its almost idiot proof now days. Quote Link to comment Share on other sites More sharing options...
RC K9 Posted February 8, 2017 Report Share Posted February 8, 2017 I have a CPA do mine... Quote Link to comment Share on other sites More sharing options...
coltboostin Posted February 8, 2017 Report Share Posted February 8, 2017 Probably close to 80% of the CPA or Accountants you pay to have them do the taxes for you, they run your taxes through Turbo Tax or similar off the shelf product. Hit the nail on the head. The reason your returns likely sucked compared to NOW is your average "tax guy" is pretty inept. You should only use a CPA in my opinion if you have more than a Sch C/A or simple LLC. SP, P and anything else with a K1 should go though the CPA but other than that its wicked simple Quote Link to comment Share on other sites More sharing options...
evan9381 Posted February 8, 2017 Report Share Posted February 8, 2017 I got a bit more than normal this year too (about 50% more). About half of it was due to new energy efficient windows and doors, but the rest was a surprise. Especially since I was out of work for about 6 weeks so my income was lower than previous years. Quote Link to comment Share on other sites More sharing options...
Benner Posted February 9, 2017 Author Report Share Posted February 9, 2017 Thanks for the info guys. Child credit is still the same as last year however the major difference I saw is childcare. I guess that may be playing into it more so. Quote Link to comment Share on other sites More sharing options...
Cordell Posted February 9, 2017 Report Share Posted February 9, 2017 Broke dicks always get more back, my return has gone down as I move up in taxable income. Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted February 9, 2017 Report Share Posted February 9, 2017 Thanks for the info guys. Child credit is still the same as last year however the major difference I saw is childcare. I guess that may be playing into it more so. definitely the childcare. Quote Link to comment Share on other sites More sharing options...
ODoyle Posted February 9, 2017 Report Share Posted February 9, 2017 Broke dicks always get more back, my return has gone down as I move up in taxable income. :funny: Quote Link to comment Share on other sites More sharing options...
Benner Posted February 9, 2017 Author Report Share Posted February 9, 2017 Broke dicks always get more back, my return has gone down as I move up in taxable income. No joke. Make more get less back. Wife's best friend made $28k last year and got 5k back. Single mom on welfare Quote Link to comment Share on other sites More sharing options...
Geeto67 Posted February 9, 2017 Report Share Posted February 9, 2017 Broke dicks always get more back, my return has gone down as I move up in taxable income. And that's a bad thing? Remember it's money everyone has earned - if you get a refund then the withholding is taking too much money from you. Would you rather have your money monthly with which to invest, pay bills, and use for recreation? or would you rather have the government hold on to it interest free for a year and then give it back to you all at once at the same time as everyone so private sellers jack up their prices on goods knowing everyone be flush? and yes I know the percentage goes up as income goes up...but that is why some people game the income tax bracket through deductions and filing status. Quote Link to comment Share on other sites More sharing options...
coltboostin Posted February 9, 2017 Report Share Posted February 9, 2017 Broke dicks always get more back, my return has gone down as I move up in taxable income. And then you start owing! Start buying rental proprieties now or open up a little LLC. find the tax shelters, make your money work for you. Quote Link to comment Share on other sites More sharing options...
coltboostin Posted February 9, 2017 Report Share Posted February 9, 2017 And that's a bad thing? Remember it's money everyone has earned - if you get a refund then the withholding is taking too much money from you. . No, its not. When I was bar-tending- made 30-35k CASH, 6k on the books. I'd always get 2-3k back. I can assure you I did not have 3k in taxes withheld. \ Quote Link to comment Share on other sites More sharing options...
mmrmnhrm Posted February 9, 2017 Report Share Posted February 9, 2017 Brother's a CFP who took on the additional responsibility of fiduciary duty before it was even a "thing," so he's required to look out for his clients versus what's good for him, and pitted TurboTax against a CPA two years ago to find out Quote Link to comment Share on other sites More sharing options...
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