Announcement

Collapse
No announcement yet.

I almost forgot,.......my taxes!!!!

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #16
    Re: I almost forgot,.......my taxes!!!!

    Originally posted by Beachboy View Post
    Is there a reason you picked 'TurboTax' over 'TaxCut'? If so could you explain to me the difference.....in brief of course!
    Actually, I've never tried TaxCut because I've always had TurboTax (from at least the late- or even mid-90's) and haven't had any problems, so why switch? I did have one problem this year, but it wasn't with TurboTax; it was with my Roadrunner connection. In order to use TurboTax, you have to have a good internet connection in order for the software to search for updates, etc. I had to fix my Roadrunner connection before I could use TurboTax. (This is why I was so cautious about recommending it to you for this year.)

    The first time you use TurboTax will be the hardest because you have to enter everything manually, but the following year(s), it becomes so easy because of how it fills in the information and all you have to do is confirm that it's correct. If things have changes (new job, a different bank or investor institution), then make the changes. So simple. And it will be reflected the following year.

    Also, it is tax deductible (it's considered the same as paying a tax preparer, which is what TurboTax is). The e-filing is great, though you might have to pay (some years, it's free; other years it not -- I think it's based on the how the software package is sold -- but either way, I would choose to e-file). Another plus: you get confirmation by the Federal and State government by email that your tax form has been "accepted", which comes within two or three days after you send. And if you have a refund, you can have it electronically deposited in your bank. If you have to pay, that's another story.

    Comment


    • #17
      Re: I almost forgot,.......my taxes!!!!

      Originally posted by Honoruru View Post
      Actually, I've never tried TaxCut because I've always had TurboTax (from at least the late- or even mid-90's) and haven't had any problems, so why switch? I did have one problem this year, but it wasn't with TurboTax; it was with my Roadrunner connection. In order to use TurboTax, you have to have a good internet connection in order for the software to search for updates, etc. I had to fix my Roadrunner connection before I could use TurboTax. (This is why I was so cautious about recommending it to you for this year.)

      The first time you use TurboTax will be the hardest because you have to enter everything manually, but the following year(s), it becomes so easy because of how it fills in the information and all you have to do is confirm that it's correct. If things have changes (new job, a different bank or investor institution), then make the changes. So simple. And it will be reflected the following year.

      Also, it is tax deductible (it's considered the same as paying a tax preparer, which is what TurboTax is). The e-filing is great, though you might have to pay (some years, it's free; other years it not -- I think it's based on the how the software package is sold -- but either way, I would choose to e-file). Another plus: you get confirmation by the Federal and State government by email that your tax form has been "accepted", which comes within two or three days after you send. And if you have a refund, you can have it electronically deposited in your bank. If you have to pay, that's another story.
      so basically since this is my first time using TurboTax. Do you recommend I should have my 2005 tax returns by my side so I can transfer numbers to TurboTax since this is my first time using the software?

      Comment


      • #18
        Re: I almost forgot,.......my taxes!!!!

        I would have them on hand.

        You HAVE to have your AGI (Adjusted Gross Income) number from last year to e-file through them anyways. Unless you want to wait and sign a form then wait some more.
        Since when is psycho a bad thing??
        Sharing withother survivors...
        www.supportandsurvive.org

        Comment


        • #19
          Re: I almost forgot,.......my taxes!!!!

          Originally posted by Beachboy View Post
          so basically since this is my first time using TurboTax. Do you recommend I should have my 2005 tax returns by my side so I can transfer numbers to TurboTax since this is my first time using the software?
          Yes, you need to have last year's tax information available, especially if you intend to file electronically. Your previous year's AGI figure is part of your "electronic signature". This year, I think you have until April 17th to file, but unless you have all your receipts and 1099s etc. already all put together in one place for easy reference, you might want to think about filing for an extension.

          Miulang

          P.S. the other thing Turbotax does is it keeps track of whether or not the IRS has accepted your return. I made a typo in my SS# when claiming some educational expenses, and Turbotax sent me a message the next day and told me about the error and made me correct it and resubmit the file. And the second time I submitted it, the return was accepted by the IRS.
          "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

          Comment


          • #20
            Re: I almost forgot,.......my taxes!!!!

            Originally posted by Beachboy View Post
            so basically since this is my first time using TurboTax. Do you recommend I should have my 2005 tax returns by my side so I can transfer numbers to TurboTax since this is my first time using the software?
            Even when I did my taxes the old-fashioned manual way years and years ago, I had the previous year's tax form at hand. There are some items from the previous year that will be relevent (i.e. if you had to pay State taxes). Also, it's just a good idea to compare what you did last year with what you're doing this year.

            Comment


            • #21
              Re: I almost forgot,.......my taxes!!!!

              Originally posted by Miulang View Post
              This year, I think you have until April 17th to file, but unless you have all your receipts and 1099s etc. already all put together in one place for easy reference, you might want to think about filing for an extension.

              Miulang
              April 17th if I owe the Gov. correct? But if I'm getting money back from Gov. it can be filed later,right?

              Where do I look for this AGI number you folks are talking about?

              Comment


              • #22
                Re: I almost forgot,.......my taxes!!!!

                Originally posted by Beachboy View Post
                April 17th if I owe the Gov. correct? But if I'm getting money back from Gov. it can be filed later,right?

                Where do I look for this AGI number you folks are talking about?
                Should be right on your old tax form. Adjusted Gross Income.
                Line 4 if you filed a Form 1040EZ
                Line 21 if you filed a Form 1040A
                Line 37 if you filed a Form 1040

                http://www.irs.gov/app/freeFile/html..._info_agi.html


                Why are taxpayers getting extra time to file and pay?
                Taxpayers will have extra time to file and pay because April 15 falls on a Sunday in 2007, and the following day, Monday, April 16, is Emancipation Day, a legal holiday in the District of Columbia.

                By law, filing and payment deadlines that fall on a Saturday, Sunday or legal holiday are timely satisfied if met on the next business day. Under a federal statute enacted decades ago, holidays observed in the District of Columbia have an impact nationwide, not just in D.C. Under recently enacted city legislation, April 16 is a holiday in the District of Columbia. The IRS recently became aware of the intersection of the national filing day and the local observance of the new Emancipation Day holiday after most forms and publications for the current tax filing season went to print.
                http://www.irs.gov/newsroom/article/...167195,00.html

                You are supposed to mail in an extension even if they owe you. I tried to find more info but frankly, all the articles say...if they owe you FILE EARLY!
                Among the IRS actions that qualify for the new April 17 deadline are:

                Calendar-year 2006 federal individual income tax returns, whether filed electronically or on paper (Forms 1040, 1040A or 1040EZ).
                Requests for an automatic six-month tax-filing extension on an individual return for calendar-year 2006, whether submitted electronically or on Form 4868.
                Last edited by blueyecicle; April 5, 2007, 09:10 AM.
                Since when is psycho a bad thing??
                Sharing withother survivors...
                www.supportandsurvive.org

                Comment


                • #23
                  Re: I almost forgot,.......my taxes!!!!

                  Originally posted by Beachboy View Post
                  April 17th if I owe the Gov. correct? But if I'm getting money back from Gov. it can be filed later,right?

                  Where do I look for this AGI number you folks are talking about?
                  Your AGI is on line 37 of the 1040 form. And even if you think you're going to get money back from the government, it's still a good idea to file for that extension. That would give you an additional 6 months to file.

                  Miulang
                  "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

                  Comment

                  Working...
                  X