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Taxes... Done!!
On 3/10/2014 3:04 PM, amdx wrote:
On 3/6/2014 12:04 PM, wrote: On Thu, 06 Mar 2014 11:52:50 -0500, Poco Loco wrote: On Thu, 06 Mar 2014 11:30:08 -0500, wrote: I am still waiting for my K-1 from Carl Ichan. Then I have to see if I can come up with any basis at all for the 200 IBM I sold last year. I have 500 that I don't have a clue about. IBM stock holder relations was less than helpful. I assume IRS doesn't know either. The actual filing is pretty easy once I get those issues figured out Back in the day, when I had my business, Turbotax was worth the money. Now IRS will give you "fillable" PDFs that make it pretty easy to actually put the return together. If they would do the math it would be very fast. I got the K-1 quite a while back. Pain in the butt, but it got another $55 back from IRS, so I suppose the 5 minute effort was worth it. Turbo Tax makes it pretty easy. I sold off a lot of stuff last year and got into ETF's. Luckily I had some big losses from the 'crash' a few years back which offset about 60% of the gains from the sales. Whew! TT just goes to the brokerage 1099 files and completes everything in a few seconds. Absolutely amazing. This year my credit union data is all there. A very nice thing about TT is its ability to go into last year's return and carry forward all the necessary information - individual data, employer data, charity data, addresses, etc, etc....all that stuff that takes a long time to enter. And...it does the math. I used Turbotax for years but my return got so simple it just does not seem to be worth it anymore. When I was on about 30-40 pages of stuff I would not go any other way. My wife and I are self employed, fairly simple business, but I'll pay at least $500 for the hour I'm in the accountants office. I have checked around, when I show them the forms I file, they are the same price as the guy I use. Will Turbo Tax work for me and how much is it? Mikek We are a LLC and file 1065's and get K1's... The Turbo Tax setup is the only one so far that handles that situation correctly. It will cost about 90 bucks but seriously, if you have your tax catergories all set up already and can quickly get your totals at the end of the year, AND can afford the accountant, I would do both.... |
Taxes... Done!!
On Mon, 10 Mar 2014 14:04:01 -0500, amdx wrote:
On 3/6/2014 12:04 PM, wrote: On Thu, 06 Mar 2014 11:52:50 -0500, Poco Loco wrote: On Thu, 06 Mar 2014 11:30:08 -0500, wrote: I am still waiting for my K-1 from Carl Ichan. Then I have to see if I can come up with any basis at all for the 200 IBM I sold last year. I have 500 that I don't have a clue about. IBM stock holder relations was less than helpful. I assume IRS doesn't know either. The actual filing is pretty easy once I get those issues figured out Back in the day, when I had my business, Turbotax was worth the money. Now IRS will give you "fillable" PDFs that make it pretty easy to actually put the return together. If they would do the math it would be very fast. I got the K-1 quite a while back. Pain in the butt, but it got another $55 back from IRS, so I suppose the 5 minute effort was worth it. Turbo Tax makes it pretty easy. I sold off a lot of stuff last year and got into ETF's. Luckily I had some big losses from the 'crash' a few years back which offset about 60% of the gains from the sales. Whew! TT just goes to the brokerage 1099 files and completes everything in a few seconds. Absolutely amazing. This year my credit union data is all there. A very nice thing about TT is its ability to go into last year's return and carry forward all the necessary information - individual data, employer data, charity data, addresses, etc, etc....all that stuff that takes a long time to enter. And...it does the math. I used Turbotax for years but my return got so simple it just does not seem to be worth it anymore. When I was on about 30-40 pages of stuff I would not go any other way. My wife and I are self employed, fairly simple business, but I'll pay at least $500 for the hour I'm in the accountants office. I have checked around, when I show them the forms I file, they are the same price as the guy I use. Will Turbo Tax work for me and how much is it? Mikek Turbo Tax should be pretty easy, as long as you can handle a Schedule C (Profit or Loss from Business). If you have your last year's Schedule C as a guide, it should be pretty simple. It costs about $75 for the home and business version, plus some more for state tax. The price includes e-filing your federal, and e-filing the state runs another $20. https://turbotax.intuit.com/personal...d-business.jsp |
Taxes... Done!!
On 3/10/2014 4:22 PM, Poco Loco wrote:
On Mon, 10 Mar 2014 14:04:01 -0500, amdx wrote: On 3/6/2014 12:04 PM, wrote: On Thu, 06 Mar 2014 11:52:50 -0500, Poco Loco wrote: On Thu, 06 Mar 2014 11:30:08 -0500, wrote: I am still waiting for my K-1 from Carl Ichan. Then I have to see if I can come up with any basis at all for the 200 IBM I sold last year. I have 500 that I don't have a clue about. IBM stock holder relations was less than helpful. I assume IRS doesn't know either. The actual filing is pretty easy once I get those issues figured out Back in the day, when I had my business, Turbotax was worth the money. Now IRS will give you "fillable" PDFs that make it pretty easy to actually put the return together. If they would do the math it would be very fast. I got the K-1 quite a while back. Pain in the butt, but it got another $55 back from IRS, so I suppose the 5 minute effort was worth it. Turbo Tax makes it pretty easy. I sold off a lot of stuff last year and got into ETF's. Luckily I had some big losses from the 'crash' a few years back which offset about 60% of the gains from the sales. Whew! TT just goes to the brokerage 1099 files and completes everything in a few seconds. Absolutely amazing. This year my credit union data is all there. A very nice thing about TT is its ability to go into last year's return and carry forward all the necessary information - individual data, employer data, charity data, addresses, etc, etc....all that stuff that takes a long time to enter. And...it does the math. I used Turbotax for years but my return got so simple it just does not seem to be worth it anymore. When I was on about 30-40 pages of stuff I would not go any other way. My wife and I are self employed, fairly simple business, but I'll pay at least $500 for the hour I'm in the accountants office. I have checked around, when I show them the forms I file, they are the same price as the guy I use. Will Turbo Tax work for me and how much is it? Mikek Turbo Tax should be pretty easy, as long as you can handle a Schedule C (Profit or Loss from Business). If you have your last year's Schedule C as a guide, it should be pretty simple. It costs about $75 for the home and business version, plus some more for state tax. The price includes e-filing your federal, and e-filing the state runs another $20. https://turbotax.intuit.com/personal...d-business.jsp My point was most of them... quick books, turbo tax, etc do schedule C income.. Have for about 10 years now but if you are a "LLC Partnership" and get paid "Guaranteed Payments to Partners" via form K1, you don't get a schedule C and the K1 chokes all of the "Business" versions of tax software so far that I have seen *except* Turbo Tax... Turbo Tax just picked up on that I think in the last three years... |
Taxes... Done!!
On Mon, 10 Mar 2014 14:04:01 -0500, amdx wrote:
On 3/6/2014 12:04 PM, wrote: On Thu, 06 Mar 2014 11:52:50 -0500, Poco Loco wrote: On Thu, 06 Mar 2014 11:30:08 -0500, wrote: I am still waiting for my K-1 from Carl Ichan. Then I have to see if I can come up with any basis at all for the 200 IBM I sold last year. I have 500 that I don't have a clue about. IBM stock holder relations was less than helpful. I assume IRS doesn't know either. The actual filing is pretty easy once I get those issues figured out Back in the day, when I had my business, Turbotax was worth the money. Now IRS will give you "fillable" PDFs that make it pretty easy to actually put the return together. If they would do the math it would be very fast. I got the K-1 quite a while back. Pain in the butt, but it got another $55 back from IRS, so I suppose the 5 minute effort was worth it. Turbo Tax makes it pretty easy. I sold off a lot of stuff last year and got into ETF's. Luckily I had some big losses from the 'crash' a few years back which offset about 60% of the gains from the sales. Whew! TT just goes to the brokerage 1099 files and completes everything in a few seconds. Absolutely amazing. This year my credit union data is all there. A very nice thing about TT is its ability to go into last year's return and carry forward all the necessary information - individual data, employer data, charity data, addresses, etc, etc....all that stuff that takes a long time to enter. And...it does the math. I used Turbotax for years but my return got so simple it just does not seem to be worth it anymore. When I was on about 30-40 pages of stuff I would not go any other way. My wife and I are self employed, fairly simple business, but I'll pay at least $500 for the hour I'm in the accountants office. I have checked around, when I show them the forms I file, they are the same price as the guy I use. Will Turbo Tax work for me and how much is it? Mikek Correction: If your business is a corporation, partnership, or multimember LLC, then you'll need Turbo Tax Business. https://turbotax.intuit.com/small-bu...s/business.jsp I use Turbo Tax Deluxe, which handles all my needs. It also has the capability of completing Schedule C, but it does suggest going with the Home and Business version. |
Taxes... Done!!
On 3/10/2014 5:18 PM, Poco Loco wrote:
On Mon, 10 Mar 2014 14:04:01 -0500, amdx wrote: On 3/6/2014 12:04 PM, wrote: On Thu, 06 Mar 2014 11:52:50 -0500, Poco Loco wrote: On Thu, 06 Mar 2014 11:30:08 -0500, wrote: I am still waiting for my K-1 from Carl Ichan. Then I have to see if I can come up with any basis at all for the 200 IBM I sold last year. I have 500 that I don't have a clue about. IBM stock holder relations was less than helpful. I assume IRS doesn't know either. The actual filing is pretty easy once I get those issues figured out Back in the day, when I had my business, Turbotax was worth the money. Now IRS will give you "fillable" PDFs that make it pretty easy to actually put the return together. If they would do the math it would be very fast. I got the K-1 quite a while back. Pain in the butt, but it got another $55 back from IRS, so I suppose the 5 minute effort was worth it. Turbo Tax makes it pretty easy. I sold off a lot of stuff last year and got into ETF's. Luckily I had some big losses from the 'crash' a few years back which offset about 60% of the gains from the sales. Whew! TT just goes to the brokerage 1099 files and completes everything in a few seconds. Absolutely amazing. This year my credit union data is all there. A very nice thing about TT is its ability to go into last year's return and carry forward all the necessary information - individual data, employer data, charity data, addresses, etc, etc....all that stuff that takes a long time to enter. And...it does the math. I used Turbotax for years but my return got so simple it just does not seem to be worth it anymore. When I was on about 30-40 pages of stuff I would not go any other way. My wife and I are self employed, fairly simple business, but I'll pay at least $500 for the hour I'm in the accountants office. I have checked around, when I show them the forms I file, they are the same price as the guy I use. Will Turbo Tax work for me and how much is it? Mikek Correction: If your business is a corporation, partnership, or multimember LLC, then you'll need Turbo Tax Business. https://turbotax.intuit.com/small-bu...s/business.jsp I use Turbo Tax Deluxe, which handles all my needs. It also has the capability of completing Schedule C, but it does suggest going with the Home and Business version. And again, Turbo Tax is the only one as of now that I know of that handles LLC Corporations and their special kind of income. Used to drive me crazy, no button for Payments to Partners in any of the different packages. But not Turbo Tax Home and Business 2013 does it... |
Taxes... Done!!
amdx wrote:
On 3/6/2014 12:04 PM, wrote: On Thu, 06 Mar 2014 11:52:50 -0500, Poco Loco wrote: On Thu, 06 Mar 2014 11:30:08 -0500, wrote: I am still waiting for my K-1 from Carl Ichan. Then I have to see if I can come up with any basis at all for the 200 IBM I sold last year. I have 500 that I don't have a clue about. IBM stock holder relations was less than helpful. I assume IRS doesn't know either. The actual filing is pretty easy once I get those issues figured out Back in the day, when I had my business, Turbotax was worth the money. Now IRS will give you "fillable" PDFs that make it pretty easy to actually put the return together. If they would do the math it would be very fast. I got the K-1 quite a while back. Pain in the butt, but it got another $55 back from IRS, so I suppose the 5 minute effort was worth it. Turbo Tax makes it pretty easy. I sold off a lot of stuff last year and got into ETF's. Luckily I had some big losses from the 'crash' a few years back which offset about 60% of the gains from the sales. Whew! TT just goes to the brokerage 1099 files and completes everything in a few seconds. Absolutely amazing. This year my credit union data is all there. A very nice thing about TT is its ability to go into last year's return and carry forward all the necessary information - individual data, employer data, charity data, addresses, etc, etc....all that stuff that takes a long time to enter. And...it does the math. I used Turbotax for years but my return got so simple it just does not seem to be worth it anymore. When I was on about 30-40 pages of stuff I would not go any other way. My wife and I are self employed, fairly simple business, but I'll pay at least $500 for the hour I'm in the accountants office. I have checked around, when I show them the forms I file, they are the same price as the guy I use. Will Turbo Tax work for me and how much is it? Mikek When I had a business, partnership, we used an accountant for the business part. I use Tax Cut, as some years ago, Turbo Tax put some anti copy stuff into the program, and prevented it from running the following year, plus an error in tables. So went to Tax Cut. Works fine. As to K-1's, nothing handles them well. LINE had a downloadable file for Turbo Tax one year. |
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