Tax Prepaprer Vs Turbo Tax

[Crank]

The March 2011 edition of PC Magazine has an article on Turbo Tax software. They like it and its probably a good choice for people who can follow all the software rules and answer all the questions correctly (and not just click though choosing whatever it might recommed as a most common answer). Here are the 2010 software costs:

All incude Free EFile

1040 EZ - Free to file on their website

Deluxe - Adds Sch A and some others - $30

Premiere - Adds Sch D & E - $50

Home & Business - Adds Sch C and probably all personal forms - $75

State returns add $37 for EACH state (free efile also included)

For States that have seperate local returns I assume that it doesnt handle these and the Tax Payer is on their own.

If you have a problem and would like to talk to an "expert" that will cost $30/30 minutes and $20 for each aditional 20 minutes. Roughly $1/minute but Im sure that if your call is 31 minutes you will be charged full $20 for the 1 minute and that its not pro rated.

So Federal and State can range from $67 to $122 (excluding sales tax) with the most the common probably being either $87 or $122

Makes my prices seem like a real bargain considering you get a certified professional and can discuss various items, scenarios, etc. I mentioned in a previous post that the 1st five returns I prepared this season were amendments to correct errors and missed deductions/credits for new clients that either used Turbo Tax or had a friend/relative use Turbo Tax to prepare their returns. For one individual I amended 3 returns (2007-2009) for cost of $100/each which resulted in a total refund of >$4,500.

Its amazing what bargains people are getting by hiring a tax professional (some) and still they find an opportunity to complain about prices.

[Crank]

Once again this tax season I've fielded calls from prospective clients who are fee shopping. I dont spend a lot of time with them but I do explain that my fee's are significantly lower than the big tax prep firms (CPA's included) and they get a CPA with 30 year's of tax prep experience (since age 14 ... lol) and investment experience (NASD series 7 licensed stock broker). They get personalized service and Im available year round to answer any questions.

I get a kick out of the ones that compare my prices to doing it themselves with software. In the above post I compared the price of the software but a better tool would be to read the user reviews posted on various retailer website's. I was browsing the Turbo Tax user reviews on Staple's website late last night ... PRICELESS.

If you need some laugh's this late in the game take a peek. (EDIT: sorry but for some reason I cant get the entire link to work)

http://www.staples.com/TurboTax-Deluxe-Fed-Efile-State-2010-for-Windows-Mac-[boxed-CD]/product_905985

:wall: