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TurboTax Takes Aim at Smaller Rival in Fight for Filers

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Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#41

Post by suter »

RodericDay wrote: post #36
suter wrote: post #33

FWIW, we're taking on TurboTax in Canada, https://simpletax.ca . The Canada Revenue Agency introduced an API this year that enables us to auto-fill much of the return: https://help.simpletax.ca/questions/how-to-use-afr .

When do you guys think you'll tackle Quebec? There's a tech scene here, tons of people would jump on-board instantly (as well as help develop it).

We added Federal Québec support this year and plan to add the provincial component next year: https://simpletax.ca/jobs.

Québec is a challenging province because of Revenu Québec and Bill 101.

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#42

Post by RodericDay »

suter wrote: post #41
RodericDay wrote: post #36

Earlier quoted context omitted.

When do you guys think you'll tackle Quebec? There's a tech scene here, tons of people would jump on-board instantly (as well as help develop it).

We added Federal Québec support this year and plan to add the provincial component next year: https://simpletax.ca/jobs . Québec is a challenging province because of Revenu Québec and Bill 101.

It is, but I also think it is worth it. I will point the few accountants I know in your general direction.

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#43

Post by mkaziz »

vdnkh wrote: post #22
jonathanjaeger wrote: post #15

I've been using TaxACT ever since I became an "adult" and started filing my tax returns. I can't really compare it to TurboTax, which I've only used for business taxes, but I can't imagine anything else being easier or cheaper. It amazes me how some people who have really simple tax forms still pay accountants..

>It amazes me how some people who have really simple tax forms still pay accountants.. My W2 is "simple" (single, no kids, etc.) but I give it to an accountant anyway. Costs $30 or so but the accountant knows certain tricks to maximize my tax return. Not illegal, but she knows how broad exemptions can be. For example, I work from home some days. I built a new computer. Technically, it's exempt because it's a work exp…

How much do you reckon you save by going through an accountant instead of doing it yourself?

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#44

Post by LordKano »

I have been using TaxAct for about 10 years. Thus far, I'm very happy with it.

There is one minor gripe that I have, they moved the location of the data files so the process of making a backup copy is a little different but that's easy to overcome once you're aware of it.

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#45

Post by toomuchtodo »

willis77 wrote: post #38
masklinn wrote: post #16

Earlier quoted context omitted.

Pretty much how it works in most of europe. Not even mailed, during the filing period log into the tax authority's site, check that the pre-filled declaration looks OK and validate.

Sounds glorious. In the U.S., figuring out taxes is like: Take line 39b, multiply it by your age as determined by worksheet 6689. If you are between 41 and 43 years of age, enter '0'. If you were not subject to the Railroad Act of 1938's exempt dependent pension clause (this is not common), add 13 to this number in hexadecimal, else, subtract 2 and multiply by 1.388688. If you did not have healthcare for more than 14…

We can change this if we want. We just need to collaborate and apply pressure on legislators.

1. Propose legislation to allow the IRS to perform the work directly third parties are currently performing

2. Have it sponsored (look through opensecrets.org, find legislators who aren't taking money from intuit)

3. If you don't vote for it, we work to replace your with a competitor in your next election cycle

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#46

Post by algorithmsRcool »

willis77 wrote: post #38
masklinn wrote: post #16

Earlier quoted context omitted.

Pretty much how it works in most of europe. Not even mailed, during the filing period log into the tax authority's site, check that the pre-filled declaration looks OK and validate.

Sounds glorious. In the U.S., figuring out taxes is like: Take line 39b, multiply it by your age as determined by worksheet 6689. If you are between 41 and 43 years of age, enter '0'. If you were not subject to the Railroad Act of 1938's exempt dependent pension clause (this is not common), add 13 to this number in hexadecimal, else, subtract 2 and multiply by 1.388688. If you did not have healthcare for more than 14…

Is this really the case? Can't most people can just file with a 1040(A or EZ) and be done pretty quickly. I was under the impression that you only have to break out the crazy worksheets or software if you want to get fancy with your deductions or take advantage of tax credits.

You can save alot of money this way, but really it's the deductions that are the complication (and the audit risk...) but how can you simplify the deduction process, you have to get specific by the very nature of the task.

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#47

Post by algorithmsRcool »

grandalf wrote: post #12
ryannevius wrote: post #8

Earlier quoted context omitted.

Just curious...what year was this, and what was the bug?

2012 return, I removed a business expense from the return (I thought) but it still sent in the schedule claiming it to offset 1099 income. It was really a UI bug... it's unclear when you start a segment/form that it is going to be part of your return even if you don't finish it or if you think you cancelled out of the wizard. The core issue is the complicated tax code, but the UI that handles making the user aware of…

I've been bitten by some poor TurboTax UI design before. It took me over an hour to figure out how to remove a particular form it had auto imported from the previous year.

But aside from that i've been pleased with them. But then again my taxes are very simple.

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#48

Post by bnchrch »

suter wrote: post #33

FWIW, we're taking on TurboTax in Canada, https://simpletax.ca . The Canada Revenue Agency introduced an API this year that enables us to auto-fill much of the return: https://help.simpletax.ca/questions/how-to-use-afr .

I've used simple tax for my last two fillings and I must say kudos to you all on such a great product.

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#49

Post by grandalf »

pkaye wrote: post #39
grandalf wrote: post #11

Earlier quoted context omitted.

I did not. I filed electronically. I might have caught it if I'd reviewed everything but it was a pretty complex return. Fortunately the audit was simple once I realized what had happened and explained it, but it was overall very time consuming.

How does an audit work? Do you go to the IRS office? Is the conversation pleasant or adversarial?

It was fairly formal, but the auditor was friendly and professional. My return was flagged as part of an IRS program to audit the forms and overall tax collection effectiveness, so there was never any presumption that I'd tried to evade paying taxes.

I sent over a bunch of documentation and then eventually met with the auditor at the office for a few hours to finalize things.

Re: TurboTax Takes Aim at Smaller Rival in Fight for Filers

#50

Post by morgante »

My tax situation is complicated enough that I no longer want to do it myself, but I also can't find a good accountant easily.

Why isn't there a web service which will let you easily hire a good accountant online? There's absolutely no reason your accountant has to be local to you, yet all the information I've found online has been for finding a "local" professional.

I can't wait to see the Uberization of professional services.

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