Go Back  DVD Talk Forum > General Discussions > Other Talk
Reload this Page >

Question about programs like Turbo Tax and Tax Cut?

Other Talk "Otterville" plus Religion/Politics

Question about programs like Turbo Tax and Tax Cut?

Old 02-10-06, 07:27 PM
  #1  
DVD Talk Ultimate Edition
Thread Starter
 
Join Date: Dec 2001
Location: Carrollton, Ga
Posts: 4,809
Likes: 0
Received 0 Likes on 0 Posts
Question about programs like Turbo Tax and Tax Cut?

I'm not understanding how the state tax part of these programs work. Do they include both federal and state tax? Or do you have to buy seperate federal and state tax programs? Do these programs include updates when tax laws change, and forms change? Can these programs be used indefinitely, or do you have to rebuy them every year, or every couple of years?

I have a CPA firm that does mine, but I'd prefer to save that $200 a year.
Old 02-10-06, 07:32 PM
  #2  
DVD Talk Hero
 
Join Date: Aug 1999
Posts: 28,094
Likes: 0
Received 14 Likes on 12 Posts
You buy federal and state separately, though you can usually buy a higher (read: more expensive) version of each that gives you a rebate for the price of the state program. You have to buy them every year. Each is updated, online, to keep up with tax codes and fix errors, up to the tax deadline for the given year.

They guarantee that their calculations will not be wrong, but you are still liable if you put in wrong/forged numbers into their system, or if you make a mistake on your own. It's great if your taxes are pretty simple, but I'm pretty sure if you're already paying 200 bucks a year for a CPA, there's a reason for it, and a 30 dollar tax program isn't going to be sufficient.
Old 02-10-06, 07:38 PM
  #3  
Senior Member
 
Join Date: Apr 2004
Location: Plainfield, IL ok, it's really Joliet
Posts: 617
Likes: 0
Received 0 Likes on 0 Posts
Check your local govt website too for state tax stuff. Here in illinois the state lets you file electronically(online tax form) for free
Old 02-10-06, 07:39 PM
  #4  
DVD Talk Hero
 
Join Date: Aug 1999
Posts: 28,094
Likes: 0
Received 14 Likes on 12 Posts
Isn't there something like a 40K income limit for the free returns? or is that only for filing federal taxes?
Old 02-11-06, 12:34 AM
  #5  
Senior Member
 
Join Date: Jun 1999
Posts: 872
Likes: 0
Received 0 Likes on 0 Posts
In past years, if you bought the retail versions, you had to buy the Federal and the State versions separately. Usually, the state version was free after rebate when you bought the Federal version. In addition, most of the time the Federal came with a rebate that you sent it to have your Federal e-filing fee refunded.

This year, both companies are still offering Fed/State separately, but they also have a version that contains BOTH Fed/State in one package.

If you want to use the WEB versions of these programs, you can file your Federal taxes for free online if you do NOT exceed their AGI limits. I think for TurboTax, it is in the $2x,000 area. TaxCut is free if you do not exceed $50k.

I found out that State Farm insurance customers can simply log onto their State Farm accounts online and find a link on the left side of the page that lets you e-file BOTH your Federal and State returns online for FREE, no matter how much you made..
Old 02-11-06, 12:47 AM
  #6  
DVD Talk Legend
 
Heat's Avatar
 
Join Date: Dec 2000
Location: Central Illinois
Posts: 16,701
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by fujishig
Isn't there something like a 40K income limit for the free returns? or is that only for filing federal taxes?
There's a $50,000 limit to process and e-file for free through www.irs.gov (through companies like Turbotax and Taxcut).

There was no limit last year and I used Turbotax, liked it. This year I didn't qualify since I make more than $50K AGI, but Turbotax sent flyer that said that since I used them last year, I could use them this year and *print* the returns for free, or $10 to e-file. Turbotax Essentials (a.k.a. Turbotax EZ). Since I don't itemize, this was perfect for me and I printed them off a couple of days ago and mailed them off yesterday. Note the "mailed them off", yes, I printed them off and mailed them that way. If the federal government wants me to e-file, then don't make me pay to e-file. Damnit.

If you used turbotax online last year and you remember your userID (most likely your email address), check out www.turbotax.com/return2005

Oh, the only thing that pissed me off was that last year I could download my mutual fund company's information directly into Turbotax. This year, I couldn't do that with the software I was using so I had to enter it by hand. Not a big deal since there were only three funds, thus three 1099-DIV's, but it took me a while to figure out the foreign tax credit thing. If I had been able to download it I wouldn't have had to worry about it.
Old 01-23-15, 10:22 PM
  #7  
Inane Thread Master, 2018 TOTY
 
OldBoy's Avatar
 
Join Date: Dec 2003
Location: Are any of us really anywhere?
Posts: 38,365
Likes: 0
Received 7 Likes on 7 Posts
Re: Question about programs like Turbo Tax and Tax Cut?

anyone use Turbo Tax and can tell me how exactly does it work? do you pay for the program, do it your self and then pay the state and Federal fee?

thanks in advance.
Old 01-23-15, 10:43 PM
  #8  
DVD Talk God
 
Deftones's Avatar
 
Join Date: Oct 1999
Location: Arizona
Posts: 74,982
Likes: 0
Received 4 Likes on 3 Posts
Re: Question about programs like Turbo Tax and Tax Cut?

2 things:

1) this shit where members are bumping of threads from decades ago needs to stop ASAP. it's fucking annoying.

2) do you have a complete inability to google anything and/or use the internet? your questions could be answered by going to the website of which program you want to use, going to the FAQ section and finding out the answers. it literally took me less time to go to the site and find the FAQs on the TurboTax site than it did for you to type this thread. seriously.
Old 01-24-15, 08:20 AM
  #9  
Senior Member
 
Join Date: Mar 2000
Location: Somewhere over there
Posts: 619
Likes: 0
Received 0 Likes on 0 Posts
Re: Question about programs like Turbo Tax and Tax Cut?

agree with Deftones....
Old 01-25-15, 02:02 PM
  #10  
DVD Talk Legend
 
Join Date: May 2004
Location: a mile high, give or take a few feet
Posts: 13,509
Likes: 0
Received 1 Like on 1 Post
Re: Question about programs like Turbo Tax and Tax Cut?

Pay for the program, Federal is included. State is included on some higher-priced versions.

I run the Federal, and then use the numbers to do my State free at the state's website.

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.