Good income tax softwear?

[PWMDMD]

Originally Posted by Leo99
I use a CPA. The online stuff never handles my employee incentive stock options properly or gives me any confidence it's working properly.


I pay a CPA $700 per month to do day-to-day accounting for my 25 person business plus $1700 to file my returns which last year for federal and state were 78 pages long with schedules, etc. When it's not simple it's worth it to use a CPA and get it right IMO. If you're wrong it means either leaving money on the table or potentially getting whacked with the penalties + interest bat sometime down the line. Having been through a business audit at company I co-owned in the past the whole process sucks if you don't have everything squared away perfectly to the penny.

 

[ARCOgraphite]

Originally Posted by frankbee3
Arco,

I thought filing a return with NH was not necessary unless one derives a lot of income from investments like dividends and interest?

I haven't done taxes yet for 2019, so I may have missed something? I have yet to file a return for the four tax years that I have lived in NH.

I hope I'm not in trouble?

I have been using Turbo Tax with audit protection for about 6 years now. Last year was the first year where the standard deduction was the better choice for me. No audits yet..


https://www.revenue.nh.gov/faq/interest-dividend.htm#are


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What is the Interest and Dividends Tax (I&D Tax)? It is a 5% tax on interest and dividends income. Who pays it? All New Hampshire residents and fiduciaries whose gross interest and dividends income, from all sources, exceeds $2,400 annually ($4800 for joint filers)

 

[blupupher]

Originally Posted by PWMDMD
Originally Posted by Leo99
I use a CPA. The online stuff never handles my employee incentive stock options properly or gives me any confidence it's working properly.


I pay a CPA $700 per month to do day-to-day accounting for my 25 person business plus $1700 to file my returns which last year for federal and state were 78 pages long with schedules, etc. When it's not simple it's worth it to use a CPA and get it right IMO. If you're wrong it means either leaving money on the table or potentially getting whacked with the penalties + interest bat sometime down the line. Having been through a business audit at company I co-owned in the past the whole process sucks if you don't have everything squared away perfectly to the penny.

Seems the OP is talking about personal taxes, not business or self employment.
I think most of the population can get by with a simple online tax return program.
Even those with investments, rentals, contract employment and other "complicated" personal returns are guided very well with them.

I know if I had a business or was self employed I would not do them on my own, it is a full time job to keep up with that stuff in and of itself, so having a CPA deal with that is really the only way to go.

 

[Eddie]

Thank you all for your input. I will be sticking with TurboTax but, only because I'm familiar with it from years passed and it still seem to be a good software package. Ed

 

[Mr Nice]

Originally Posted by PWMDMD
Originally Posted by Leo99
I use a CPA. The online stuff never handles my employee incentive stock options properly or gives me any confidence it's working properly.


I pay a CPA $700 per month to do day-to-day accounting for my 25 person business plus $1700 to file my returns which last year for federal and state were 78 pages long with schedules, etc. When it's not simple it's worth it to use a CPA and get it right IMO. If you're wrong it means either leaving money on the table or potentially getting whacked with the penalties + interest bat sometime down the line. Having been through a business audit at company I co-owned in the past the whole process sucks if you don't have everything squared away perfectly to the penny.

Yep. Every penny spent on that CPA is well worth it.

You do NOT want tax problems like Avenatti. LOL. ...‚

 

[Passport1]

I used to use the non aspirated (pencil whipped paper form) tax return. Now I use Turbo tax or one of the others. I should use an accountant at this stage of my life but I'm too old schooled and don't want to pay somebody to pry into my financial life.

 

[bobdoo]

Just key your numbers in to the state tax PDF (or whatever they do), and the federal Free File website. It's not a big deal.

 

[PandaBear]

I avoid Credit Karma, they got mine wrong because they do not support different deduction types between federal and state. FreeTaxUSA and TaxAct both support that. Most importantly instead of saying this may not be supported they just ignore it and tell you to pay more tax (without even knowing you did).