Transcript Slide 1 - Golden Mouse Computer Club

Doing Your Taxes on the
Computer
Donald Burgard, CPA
Smoker Smith & Associates PC
Hershey, Pa
Why Use The Computer?
• Accuracy of Math Calculations (?)
• Ease of Use (?)
• Reduce Complexity of the Tax Code (?)
• Simple (?)
• “it depends” – everyone’s situation is
different
Pro’s and Con’s
• Math Accuracy
• Privacy
• Tool to be used to
reduce complexity
• Quality of return is a
•
•
function of software
used answers to
complexed questions
Lack of privacy
Hardware/software
conflicts
Your Options
• Canned Off the Shelf Software
• Examples: Turbo Tax and Tax Cut
Second Option
• Online Web Based Processors
Free Option
• Free File by IRS
Off the Shelf Software
• Turbo Tax (Intuit) and
•
•
•
Tax Cut (H&R Block) are
the leaders
Quality of return is a
function of your
understanding of the
questions
Both very good
Both try to sell other
products and services
• Pro – Privacy – data stays
•
•
•
•
on your computer
Pro – Carry-forward data
between years
Con – will need to
download updates from
earlier releases
Costs $19.95 for Basic to
$69.95 for Premier
State filing costs
more..up to $29.95 more
Online Web Based Processors
• Turbo Tax Online http://www.turbotax.com
• Tax Cut Online http://www.taxcut.com
• Complete Tax – by CCH is very good
•
http://www.completetax.com
Tax Net – x Turbo Tax employees
http://www.taxnet.com/
• Tax Act Online –great for simple returns
http://www.taxactonline.com
Online Web Based Processors
• Pro – updated software – no need to
download
• Pro – got an internet connection – you got
what you need
• Con – Privacy – data is on their servers overseas outsourcing issues
• Pro/Con – speed – really need high speed
internet connection
Online Web Based Processors
• Con – they try to sell you more products
and services
• Pro – costs – usually cheaper than canned
off the shelf version
Free Option
• IRS Free File site http://www.irs.gov/
• Check out the qualifications – usually need
AGI below $50,000
• Complete Tax option is the best – AGI
must be below $29,000
• Free is not always Free!
Pa State Return Options
• Pa.direct.file - www.revenue.state.pa.us
• Very good option
• Can also purchase state product of off the
shelf software and online products
Thanks!
• [email protected]
• 717-533-5154 x 123