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How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

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Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#71

Post by Taniwha »

alkonaut wrote: post #52

TIL how I file my taxes (log in and submit a pre-filled web form, or send a text message approving it) was the exception, not the norm. I would have expected at least most of western Europe to have reached that point.

here in NZ most people don't even have to file taxes - we have NO exemptions, if you have one job your boss will have gotten your tax right, your bank will withhold tax on interest at your declared marginal rate - if you have multiple jobs filing a one page web form might get you a refund (with interest!).

less than 5% of us, those with complex financial lives who can likely afford it, have to file a more formal return

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#72

Post by sfeng »

usaphp wrote: post #26
mikeash wrote: post #17

Earlier quoted context omitted.

I've never met a doctor who wants people to be sick. I'm sure they're out there, but the great majority wants to help people, and would gladly be put out of business.

> "and would gladly be put out of business" But someone still has pay their student loans :)

In my experience it is taken as a given that people will continue needing medical care of one sort or another, so doctors at the microlevel don't worry too much about patients getting _too well_. The exception to this would be some corners of medical care with a lot of discretionary spending like cosmetic surgery, dentistry, etc. and even there a doctor doing work which doesn't need to be done is not looked upon favorably.

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#73

Post by refurb »

caoilte wrote: post #40
joering2 wrote: post #9

Earlier quoted context omitted.

Same old same old: show me a doctor who doesn't want you to be sick. Show me a lawyer who doesn't want you to get in trouble with law. Show me a priest who doesn't want you to sin. It just blows my mind up to what degree TurboTax will go with this!

Doctors want you to be sick? - no. HMOs? - maybe. Lawyers want you in trouble with the law? - no. Prison Corporations? - definitely. People are generally good, corporations are evil by design.

HMOs? - maybe.

Why would an HMO want you to be sick? They spend most of their time not covering medical claims. In fact, they'd make more money if you never used your insurance.

And your claim that people are generally good makes no sense. Corporations don't make decisions, people do.

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#74

Post by dustinhlyons »

nodesocket wrote: post #63
dustinhlyons wrote: post #32

Earlier quoted context omitted.

Or use Credit Karma Tax. Completely free software assistance at any income level. ( https://www.creditkarma.com/tax ) Disclaimer: I work there.

I've looked at Credit Karma tax free, but I'm a bit nervous as I own a California LLC (100% sole owner), and also have capital gains, dividends, write-offs. Is Credit Karma a good choice for more complicated returns? Last year I paid H&R $650 for literally one hour of time which infuriated me.

This is our first year, so we don't currently support filing as an LLC (just individual income/loss as a result of a small business): https://help.creditkarma.com/hc/en-us/articles/216489263-Cre...

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#75

Post by seanmcdirmid »

texuf wrote: post #28
bluedino wrote: post #19

Earlier quoted context omitted.

Paying TurboTax $59.99 is cheaper than going to H&R Block and paying a tax preparer $169

The IRS already knows what taxes you owe. In most cases they could just send you a bill.

For the last 9 years, I've been filing tax returns on money I've earned abroad: no 1099 and definitely no W2. One year somehow they blew away my foreign tax credit and said I owed $30K (note: they were really nice about it and I eventually was able to fix the mistake).

Taxes get complicated REALLY quickly as you move beyond single W2 earnings.

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#76

Post by bluejekyll »

sokoloff wrote: post #56
tormeh wrote: post #49

Earlier quoted context omitted.

Yeah, if they can check if I've paid the correct taxes then they know how much I should pay. Can't they just tell me?

No. How would they know how many charitable donations you made? How would they know how many miles you drove for your business? How would they know how much you spent on travel for your company? How would they know how much you paid for the raw materials for the products you sold? Or your business utilities, rent, etc? How would they know your unreimbursed medical expenses or casualty losses?

The issue here is that taxes have been over complicated with deductions. If it was just simply based off earnings and there were no deductions it would be simple.

Obviously taxes would need to be reduced if all deductions were removed. I for one would love to see a zero deduction tax law, and simple validation of earnings.

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#77

Post by tzs »

dustinhlyons wrote: post #32
the_cat_kittles wrote: post #13

slightly off topic, but... you can file for free using any number of tax prep software if you make less than ~64k a year: https://www.irs.gov/uac/free-file-do-your-federal-taxes-for-...

Or use Credit Karma Tax. Completely free software assistance at any income level. ( https://www.creditkarma.com/tax ) Disclaimer: I work there.

I gave Credit Karma Tax a try this year. I mostly liked it, but did find one serious deficiency compared to others I've used. It did not handle the deduction for state income tax nearly as well.

The IRS allows deducting either the actual sales taxes you have paid, or you can use a standard amount based on your AGI and your state and local tax rates.

Most other software I've used knows about this. If you enter your actual amount (or 0 if you do not know the actual amount) they compare to the standard amount and go with which is higher.

CKT just goes with what you enter. If you ask for help on that item it doesn't even mention the existence of a standard amount. It just says fill in the amount you get from adding your receipts.

At the very least the help for that item should mention the option for deducting a standard amount, and should link to the IRS' online calculator for this: https://www.irs.gov/individuals/sales-tax-deduction-calculat...

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#78

Post by Washuu »

nodesocket wrote: post #29
bluedino wrote: post #19

Earlier quoted context omitted.

Paying TurboTax $59.99 is cheaper than going to H&R Block and paying a tax preparer $169

Or $650 which was my fee from H&R last year for one hour of service. (I own a California LLC) Anybody know a good alternative? I'm thinking about trying TurboTax Self-Employed for $89.99.

HR Block's online filing system is pretty good. I have used it every year since 2005. I only started recently in the past few years paying for the upgraded services(about $50) due to mortgages and other income.

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#79

Post by c3534l »

bluedino wrote: post #19
elberto34 wrote: post #3

the deep cynicism here is how people think Turbo tax is doing a pubic service by making taxes easier and cheaper, that's how effective their marketing is. Convince the public there is a problem that only said company can solve.

Paying TurboTax $59.99 is cheaper than going to H&R Block and paying a tax preparer $169

H&R Block is a ripoff. Get yourself a real accountant. Or do your taxes yourself (it's really not difficult).

Re: How the Maker of TurboTax Fought Free, Simple Tax Filing (2013)

#80

Post by sokoloff »

bluejekyll wrote: post #76
sokoloff wrote: post #56

Earlier quoted context omitted.

No. How would they know how many charitable donations you made? How would they know how many miles you drove for your business? How would they know how much you spent on travel for your company? How would they know how much you paid for the raw materials for the products you sold? Or your business utilities, rent, etc? How would they know your unreimbursed medical expenses or casualty losses?

The issue here is that taxes have been over complicated with deductions. If it was just simply based off earnings and there were no deductions it would be simple. Obviously taxes would need to be reduced if all deductions were removed. I for one would love to see a zero deduction tax law, and simple validation of earnings.

I think you're still stuck on W-2 employees (which is a pretty large and common case, I admit, and I'd love to see that simplified).

You will always need accounting for businesses (IMO).

Suppose you ran a lemonade stand. You bought some equipment, some raw materials, you used some utilities, you used some space, you bought a banner and some flyers to advertise your stand, you hired a lawyer to help set it up, you bought a business license, you bought cups and napkins, you took in some receipts. Let's presume you turned a profit.

On what figure should you pay taxes? The gross receipts (every dollar you took in)? Or just the profit (receipts minus expenses)?

And that's just a lemonade stand; imagine the complexity of a larger scale business...

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