2020 Taxes
- Thread starter Trice
- Start date
So I’m another turbotax user and this year might be the year I follow through with shopping around.
Taxact seems like a good option at half the cost of TT
I’m intrigued by Freetaxusa, but the price almost seems too good to be true.
Feedback from those who have used either?
Taxact seems like a good option at half the cost of TT
I’m intrigued by Freetaxusa, but the price almost seems too good to be true.
Feedback from those who have used either?
New job or did something like extra commissions on sales get you? If that's to personal feel free to ignore.
Nah they have been bending me over for quite a few years now. I hate to complain but dang to see the actual $ amount when doing the taxes hurt.
My income got pandemiced in 2020, and I’m guessing that’s the reason. It makes sense, but can see how it would backfire too.
I switched to FreeTaxUSA a few years ago when TaxAct started to up their prices and have no complaints. Hypothetically, one could do the returns in both to make sure one gets the same result.
I’ve used both and while tax act is probably a little more user friendly, freetaxusa works fine. The price is amazing, and I’ve used it for 2 years. They do have some add ons if you want to get a paper version of the return or have audit protection. I would highly recommend. If you have a PDF of your prior year return, they can import that so you don’t have to input all of that information.
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I am a big fan of TaxAct, its a Cedar Rapids company. Good company story on their start and growth. We currently use an accountant, so it has been a while since our use.
Do you not get a copy of it without the add-on? How do you keep it for records?
Yes, you do get a PDF copy which is what I use for my records. You're just able to pay for a paper-bound copy if want it. I can't remember the price. Something like $15 maybe.
That may be the route I go this year. I have some schedule C stuff that hasn't always been in the web version, if I remember correctly. I have also preferred to keep this data on my private computer.
I used to file my kid's taxes, and having the software was more convenient for that.
H
TurboTax user here, for several years now after paying a CPA outrageous rates just to be treated like dog**** and doing most of the prep work myself. I like the online platform and prior year import / carryover that streamlines the data entry. I also like the mobile app platform where you can take pictures of docs and data is automatically populated.
Where I see most online platforms break down is in the State filings & forms. The Iowa forms are just unique enough and sufficiently complex to analyze differences in filing statuses and other nuances that the online programs just don't do a very good job with. And there's just not much help available to address questions, unfortunately.
Where I see most online platforms break down is in the State filings & forms. The Iowa forms are just unique enough and sufficiently complex to analyze differences in filing statuses and other nuances that the online programs just don't do a very good job with. And there's just not much help available to address questions, unfortunately.
CycloneErik
Well-Known Member
I did that, too. Then I realized how uncomplicated mine were, how unlikely some critical mistake could be, and stopped.
That's why I'm here. Holy **** I'm writing a nice sized check. Totally a "first world problem" but this will be the worst tax bill I've ever had. Sold my house in February so I didn't have those deductions to write off. Sold some stock to pay off remaining debts/pay for a wedding in 2021, and had some other stock vest which was all taxable as income. Gotta get that new house closed on soon and future bride to adjust her W4 to zero to help a brother out! She's going to hate not getting returns anymore
My sister and her husband were talking to me last night. They asked if they should delay filing their 2020 taxes because of the coming COVID relief stimulus. 2019 income for them was below $150K combined but above for 2020. I said that is what I would do. But I'm no CPA. Was that bad advise?
@LarryISU Because they are borderline scams.
I've had 2 clients inquire into them over past tax debt (they received a flyer in the mail) and both laughed at the Attorney's they talked to. One talked to an Attorney from Chicago who told my client for a $5000 fee I may be able to get the IRS to drop the penalties and interest but you'll still have to pay the balance. They are very careful in their word choice to because they know they can't eliminate the debt.
Take the Equinox. I’ve had to file a California return for the last few years, and that state may be a literal dumpster fire, but they at least have the courtesy to send my refund in a reasonable amount of time.
I'm a little wary of the "we can get you a bigger refund!" sales pitch. You'd think it should be the same if you're entering in the same info.
At the same time, if your refund is lower with one because their software was confusing on something, that's certainly something to take note of.
