OT - tax software - Turning - Woodworking

OT - tax software

12/10/04, 5:00 AM #1

Dave Shombert
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Registered: 1/9/04
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OT - tax software

Dave Shombert

>Those of you who file your taxes as a small business (meaning you include Schedule C) - have you found tax software that handles this properly? TurboTax, maybe? I looked at one of the ones the IRS lists on their website recently, but it had Sch. C pretty well bolixed up. Before I spend forty bucks or so, I'd like to know that I'm getting something that will actually work. Thanks,

Dave Shombert

- - -

http://www.woodspunworkshop.com I started turning wood about 50 years ago. Unfortunately, I stopped turning wood about 49 years ago. If you haven't guessed, that was high school wood shop, and my brief encounter with the lathe stayed in my memory all my working life. I retired from the US Public Health Service in 1993, moved to West Virginia, bought a lathe, and started back up again. Soon afterward, I met an old man who had been a mouldmaker and patternmaker in the glass industry that once thrived here. I spent a year learning his method of segmented turning - different in the preparation stage from most methods used today - and he became my mentor and friend. More than anything, I learned patience from him. I still do segmented work (using his method) but have now branched out into some other areas. Along the way, I moved up to a Robust American Beauty lathe. I sell my work in a few galleries and I find tremendous satisfaction in woodturning. I'm also an old-time fiddler and square dance caller, and I spend more time with that in the summer, more time in the shop in the winter. Take a look at my website to see my shop and some of my work.

Re: OT - tax software

12/10/04, 5:54 AM #2

Dinyar Chavda
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Re: OT - tax software

Dinyar Chavda

>Dave:

TurboTax and its competitors are pretty much neck-and-neck re almost every issue re your taxes. TaxAct is cheap, and supposedly good, but with less on-line help. I personally use TurboTax, but that's just because I've been using it for years. You can use the interview system, or, once you are familiar with the forms, go directly to the forms, or can switch back and forth.

However, you don't have to spend $40 for the software. Wait till they go on sale at places like Staples and OfficeMax, and you can pick them up for much less. Do NOT ever use the renewal form that you will get from Intuit, as they rip you off--something I've never understood.

Re: OT - tax software

12/10/04, 11:29 AM #3

JL work
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Re: OT - tax software

JL work

>I got very tired of the TurboTax ads and the other C*#P the program was loading onto my computer. I started using TaxCut instead. The Home & Business version has all of the stuff I need. I have used it for several years now. Last year I had to do an amended return to get more money back and it was quick and painless.

Re: OT - tax software

12/10/04, 12:38 PM #4

Ellis Walentine
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Ditto

Ellis Walentine

>

Re: OT - tax software

12/10/04, 1:52 PM #5

Dick Hines
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Re: OT - tax software

Dick Hines

>I filed as a small business for the first time last year. I took all by papers to a tax service, droped it on his desk and said call me when it's done. It only cost me $100 and I still have all my hair, lots, and he got me a refund and I can take his price of my taxes this year.

$100 well spent.

Re: OT - tax software

12/10/04, 2:33 PM #6

Carole in VA
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Re: OT - tax software

Carole in VA

>Some of my clients prepare taxes professionally and I have noticed that they prefer Tax Cut. As for me, no thanks...I send everything to my accountant, he sends it back, I sign it and write the checks. I consider that money I pay him to be well worth what it saves me in headaches and aggravation. And if I get audited, he handles it!

Re: OT - tax software

12/10/04, 2:51 PM #7

JohnL
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Re: OT - tax software

JohnL

>Since I write a tax software for a living, I will keep from recommending any particular packages. My only advice is to make sure that you review the return before it gets filed. Whether you prepare it yourself or have an accountant do it, no computer program is perfect.

Re: OT - tax software

12/10/04, 3:34 PM #8

John Trant (Baltimore/DC area)
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TurboTax Home and Business

John Trant (Baltimore/DC area)

>

Re: OT - tax software

12/10/04, 4:31 PM #9

Dave Shombert
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127 posts

Registered: 1/9/04
Website

Thanks to all

Dave Shombert

>Thanks for the recommendations.

Maybe I'm weird, but I don't find doing the taxes myself to be all that hard. Schedule C was confusing the first time I did it, but once you learn the fundamental lesson - don't ask WHY something is determined the way it is, just learn the definitions and follow the directions - it isn't all that bad. I don't itemize personal deductions any more, so I can sit down with the forms, a cup of coffee, and a calculator and be done in an hour. But I want to file online, and the free software that IRS provides for that is pretty much a joke. That's where I ran into the Schedule C problem. Sounds like either TurboTax or TaxCut would be a good choice. Thanks again,

Dave Shombert

- - -

http://www.woodspunworkshop.com I started turning wood about 50 years ago. Unfortunately, I stopped turning wood about 49 years ago. If you haven't guessed, that was high school wood shop, and my brief encounter with the lathe stayed in my memory all my working life. I retired from the US Public Health Service in 1993, moved to West Virginia, bought a lathe, and started back up again. Soon afterward, I met an old man who had been a mouldmaker and patternmaker in the glass industry that once thrived here. I spent a year learning his method of segmented turning - different in the preparation stage from most methods used today - and he became my mentor and friend. More than anything, I learned patience from him. I still do segmented work (using his method) but have now branched out into some other areas. Along the way, I moved up to a Robust American Beauty lathe. I sell my work in a few galleries and I find tremendous satisfaction in woodturning. I'm also an old-time fiddler and square dance caller, and I spend more time with that in the summer, more time in the shop in the winter. Take a look at my website to see my shop and some of my work.

OT - tax software

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