
On Friday I spent about three hours completing our federal and state taxes using
Turbo Tax online.
In the past, my husband and I have taken turns doing our taxes by hand (or using Telefile). I realized that since he had done it for the past 2 years, and I hadn't done it since we were dating, it was time for me to step up to the plate. He is stressed with a new job, painting our room, subbing on a volleyball team, and preparing for the FE (super stressful engineering exam). I made it my goal to complete job applications and resume paperwork before Spring Break and to get our taxes done on Spring Break.
I decided to use this company because my mom had pretty good luck with it a month ago, and my friends use the software edition and have pleasant responses from it. I'd heard just how expensive companies like H&R Block are, and the smaller accounting firms around the area are busy and don't indulge random appointment whims. I probably should have shopped around for other online tax programs, but their clever marketing lured me in!
There was a sale, ending March 27. Deluxe edition for only $29.95, twenty dollars less than normal price! Well, it was 1 pm on March 27. I decided to run with it, and see how far I got.
I spent about 20 minutes learning the ropes of the program and entering basic info - birth dates, occupations, etc. It was simple to use. I put off entering the actual forms and data until after dinner, and worked from about 8:30 pm until 10 pm getting all of the program completed. I was pretty meticulous and checked my work, so I could have been done sooner. I was pleased with the user-friendly set up of the program - it seemed as if I were online less than I actually was. No, no... I am not saying it was fun! Forms and numbers and tax law are not fun... not for me!
Pros: Extremely simple to understand directions. Nice font choices. Guided tutorials of deductions... I actually learned a few things about income and such. The "ask a question" feature is really nice, and it searches other similar questions/answers. I never actually had to pose my question to an expert, because I found answers to similar questions. So, good "helps" feature. Nice sale price, but I am not sure I'd like it for $50.
Cons: I inadvertently went to a menu for a 1040X form... and it was difficult to "undo" this. It seemed that others had the same problem, so it is probably a malfunction in their computer program. At the close of the LONG federal section, there is a brief statement that says something like, "Yeah! You're almost done. Want to also file your state taxes for an additional fee?" . At this point, I was tired of looking at the screens. So I clicked "YES!". The additional fee was actually $34.95, which I consider to be a HUGE fee, considering how simple the Missouri tax form is. But, since I was weary of taxes, I clicked yes. In a matter of seconds, this tax filing was also complete. I don't know if it was worth my time to print off a MO form and fill in all the blanks, but I certainly could have done it. Quite easily! I felt ripped off by the company, yet I felt as if I'd invested so much effort already, I'd just continue on.
So, after a few short hours spent on my laptop, we got our taxes filed electronically! I think our return amount is significantly higher than in the past two years because I used itemized deductions, something my husband avoided because of the paper work. Also, as a graduate student for most of the year, I didn't make too much. So our tax bracket was pretty low! We also had an HSA this year and a few charitable donations to include, so that must be why our return $$$ seems so high! Whooo hooo money!
We'll expect our returns around April 10... which means I've got some planning to do on how to spend the moeny I overpaid the government! My first ideas are completing our home decor projects - we've got the baby's room to furnish, paint, and decorate, as well as a messy catch all room we call "the office" to convert into a guest retreat room. I think we may also paint the kitchen, install chair rales, and add some art to the bare walls above our table. Don't worry... that money will get spent! And I'll post photo updates!