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Thank God for TurboTax
If you’re a writer who understands and appreciates a good math equation, this is not the post for you. For the rest of you, if you fight the ugly fight with the 1040 and the dreaded Schedule C every stinking year only to have the IRS correct your hard work, listen up. Until this year, I’d thanked God for thick hair because most of it landed on the floor in piles. I’d spent countless weekends and weeknights laboring over two 1040 forms – one for “practice” and one to fill out once I’d obliterated the first one. Each year, the IRS would send the inevitable “correction” sheet with calculations that make everyone but me say “Duh”. One year, I got a “had you bothered to use an electronic filing software program, you could have avoided mistakes” from the IRS (I’m not kidding – even they were getting snippy with me). Sadly, I had. I’d used some free software available on their site. Was it my fault it wasn’t up to snuff?
Last year I attempted to head off the correction letter by letting my husband the tax geek wanna-be look it all over. He did. The letter came anyway. How can that be? They never correct his, and he gets literally all smiles and excited over the whole process (I blame overindulgence in caffeine for this irrational behavior).
But this year I was determined to get an accountant. And of course, I put it off. Luckily, I was on Fidelity’s website adding to my 401(k) pot when I saw the offer for a discount on a TurboTax download. Given my past experience with the federal government and my growing concern that an audit would cause more pain for all involved than it would be worth, I bought the thing.
AMEN. Never has it been this easy to file my taxes! Mind you, I’m fairly organized, but I did have to scare up an errant receipt or two, so the process was a bit longer, but in all, it took me 4 hours. That’s it. Four hours to be handheld through the federal and state forms. Filed electronically. Thrilled to have paid electronically that which was due.
The only step left is for the government to approve it. Hey, if they don’t, fine. At least I didn’t lose hair nor hair color going through it. I know I missed one or two small deductions, but that was my fault (phone bills weren’t on my spreadsheet – my bad). And the deduction might have reduced my bill by 20 bucks. I’ll live. Just keep your fingers crossed that this year, they send me no letters. Unless, of course, they want to send me a gold star for finally getting it right… ;))
Have you used this? Any software? What’s your favorite way to get through this?
We use taxact online and this was the first year I had to do the schedule C. I have to admit that I cheated and had my tax person right there next to me the whole time but everything came back rosy! ;-D
Ohhh, don’t get me started. I too spent a good 3-4 hours doing taxes yesterday. I’m rather mathematically adept, so I tackle the whole process on my own. (And I don’t think the government has ever scolded me for getting my calculations wrong. LOL) Still, I hate EVERY minute of it. I’ve heard really good things about the tax software, so maybe next year I’ll give it a whirl.
We spend about four hours ourselves. Our taxes are somewhat complicated, so here’s what we do. We collect receipts all year, make sure all of our spreadsheets are in order and that we have all of the other necessary paperwork together.
We tally receipts and break them down on an overview sheet, then we stick all of that into a big, fat folder and I drive over to the accountant and hand it to him.
I hate the process all year long as we’re trying to keep good records throughout and dread the day we compile it all! But thank goodness for our tax man. He’s saved us a small fortune over the past decade I’m sure.
Hear hear, Lisa. I’d rather find a good accountant any day, but alas, I avoid it so much I just don’t get around to it.
Good to hear you had a good experience, Nikki! Kathy, I really didn’t mind taxes this year. Mind you, I still don’t know how much human error I introduced into the equation (and if I get another IRS love letter, I’m hiring an accountant), but it wasn’t bad.
Oh, me. I’ve just moved to a new city and am trying to launch a copywriting business proper (as opposed to contract work that I pick up piece by piece), and I am seriously considering pulling a little trick my other freelancing artist friend pulled last year:
Don’t file this year.
Bust serious tail to get a nest egg.
Hire an accountant ASAP for this and next year to do an amended return.
I also have a friend who never files her taxes, just waits for the IRS slip to come. Is that even legal? Anyone know?
I usually do them myself, and I never get a correction slip, but I am rarely in the same place year to year, so now that I’m stable, they may catch me. Ohdear.
I use an accountant. There is no WAY I would do any of this myself. You gals are brave.
I used to go to one of the big name companies to have my taxes prepared.
This year, wanting to support another woman in business, I went to an independent bookkeeper. She not only charged me way less, she also found an error on last year’s return and saved me more than seven hundred dollars! I’m sticking with her from here on out.
I’ve heard that about the large chains, Debra. They do hire first-timers and non-accounting types during tax season, which is great for the economy but lousy for your return.
i’ve used TT for about 7 years or so. and the first year i used it? saved hubby more money than his accountant ever had. great luck w/TT. and when i do finally need an accountant, i will look for a good cpa who is hopefully familiar with writers.