On Apr 9, 11:36 am, "Jeff" <Willl...[at]naol.com> wrote:
- quote -

for many yrs, I did tax manually, the only manual I ever needed after
reading a bunch of commercial tax advisers is the 1040 IRS booklet.
while software is useful to keep you from making calculation errors,
it lowers your knowledge and understanding tax laws. even I use
software for convenience since it is cheap, I still read the 1040
booklet each page and save tax from information it provides

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Jeff wrote:
- quote -


- quote -

It seems to me there must have been _something_ observably different on
the 1040 itself to end up w/ sufficient difference to make $4k on the
tax. If that is line-by-line the same except for the tax owed,
something's definitely broke in one or the other.

I'm only pursuing this in the case that if you're choice of TaxCut's
answer is, in fact, in error, the IRS could send you an unexpected bill
at a time not of your choosing...

It would seem prudent to me (but, hey, I'm just an engineer ) to find
try to ensure that ain't agonna' happen.

--

--

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

- quote -

I have a complicated multi page return (50 pages without the D1 of an
additional over a hundred pages. So I have not bothered to print out
both returns. But I can tell you there was nothing obvious that I could
find and both programs found no final errors and both had exactly the
same data entered. Possibly TaxCut's interview was more in depth and
saved me money.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Jeff wrote:
- quote -

As Jeff asked below, are you saying that EVERY monetary line in the 1040 was
the same except for perhaps TAX DUE which was $4,000 less? Something
doesn't sound kosher at all.

--
----------------------------- Regards -

- Andrew

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Jeff wrote:
- quote -

Going through a completed form line by line couldn't find a $4k
discrepancy???

--

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"dpb" <none[at]non.net> wrote in message news:ftj69r$3r4$2[at]aioe.org...
- quote -

Who knows. I could not find the reason for it.

Jeff

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

- quote -

everywhere and could not find why the calculations were different, so I
finally gave up and went with the lower tax bill :-)

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In misc.taxes.moderated, mavigozler wrote:

- quote -

I have used two of the three, but I am not a pro. Be aware that only
TaxCut and TurboTax can import data from Microsoft Money or Quicken.
That can be an important consideration.

- quote -

The tax prep professionals often use Lacerte. They often say to use
a tax prep professional, and they are often right that that is the
best for a great many people and situations.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Jeff wrote:
....
- quote -


So, inquiring minds and all that...

Where did the savings come from and was it justified?

--

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Jeff wrote:
- quote -

So Jeff, what was the difference in the actual returns? One of the two
programs didn't compute something (or take into account something) to make
such a large difference? I'm most curious to hear what the bottom line
difference was if you remember.

--
----------------------------- Regards -

- Andrew

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Jeff" <Willliam[at]naol.com> wrote

- quote -



I haven't prepared manual returns in eons - but I could if I had to.

I don't use OTC software for tax preparation. I doubt many professionals
do. Most of us use programs designed for the tax preparation industry.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

- quote -

Why do you say that? I understand that a CPA would not need them to
fill out the IRS forms, but in what way do you think doing it manually
is better? Would doing it manually save on the tax bottom line?

Jeff

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

- quote -

That is definitely my experience. I have a complex return and I ran it
on TurboTax and on TaxCut. Exactly the same entries (I checked), but TC
saved me $4,000 compared to TT. I was really surprised and therefore
checked everything several times and my entries in the interview
processes were exactly the same.

Jeff

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <N42Lj.4486$DY1.468[at]bignews5.bellsouth.net> ,
Paul Thomas, CPA <paulthomascpapc[at]bellsouth.net> wrote:
- quote -

I thought I recalled a study with moderately complex returns that
showed they all gave different results (and phone calls to the IRS
gave yet more different results).

Seth

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

mavigozler <mavigozler[at]turkiye.gov> wrote in
news:Xns9A7AC7CF3D71mavi[at]207.115.17.102:

- quote -

Situation was a bit unusual at first, simple 2 incomes, but I was a J1
student for a degree, so way back then I qualified for (whatever it was
called) non-taxable (Federal). Ever since we have been doing taxes
ourselves. If I had to start over, I'd go to a preparer, but I have
"grown into" our situations. I don't know anything about accuracy. IRS
has mostly accepted the returns, whether TurboTax or TaxAct. I quit
TurboTax over the registration flap several years ago. Now the hassle of
reentering data if I switch from TaxAct prevents me from switching
programs.


--
Best regards
Han
email address is invalid

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"mavigozler" <mavigozler[at]turkiye.gov> wrote
- quote -




They all give the same results, if that's what you want to know.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Paul Thomas" <paulthomascpa[at]bellsouth.net> wrote in misc.taxes.moderated:

- quote -

Sure, tax preparation pros and other financial experts might do it the old
fashioned way (just on paper, or PDF form) because they can do it in their
sleep and have memorized Title 26 and the statutes on income/sales taxation
for their particular states.

But tax determination application software is useful for the do-it-
yourselfer working up individual returns who only do it once a year and
don't keep up on the latest acts of Congress affecting tax law.

I was just curious who did it the best.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I wouldn't bother loading the software if they gave it to me.


--
Paul A. Thomas, CPA
Athens, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I have been using TaxAct for a while (largely because it's free), although
I did pay for deluxe (with state of Calif) for a couple of years.

Has anyone used more two of the major three among TaxAct, TurboTax, and
TaxCut?

Seems everyone swears the product they first bought and continue using.

But I want to know what the taxprep professionals say, or has there been a
systematic study?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >