I Hate Preparing My Taxes

Of course the real problem is I always feel I’ve forgotten something or screwed up something. My favor? Their favor? Who knows? Any mistake is money plus or minus.

tax return info on the table.jpgFiling taxes! Is there anything we do more painful or difficult? I hate it and I’m getting a refund. I’d be suicidal if I had to cut a check as well.

For the past few years we’ve been using TurboTax. I logged in, found my account and then realized there are probably online coupons to save money. I found one and reentered the site, but it was too late. TurboTax would only allow me to pay the full price.

Helaine asked if it was worth it to try and undo the $3? No. But this is like the cell companies giving long messages on voicemail so you’ll use more minutes, right? TurboTax rakes in an extra $3 thousands… maybe hundreds of thousands of times. It adds up.

They also charge much more to do Connecticut’s taxes than the federal forms. Let me restate: They also charge much more to do Connecticut’s much shorter and simpler taxes than the federal forms! All the info and questions are already filled-in.
I guess their cost per filer is greater, but this is a little nuts–and by a little I mean a lot.

We only go through this once a year so it’s tough to remember the specific details, but the user interface seems to be a little more sophisticated, more helpful each year. It’s a mature app but they’ve found ways to improve.

Of course the real problem is I always feel I’ve forgotten something or screwed up something. My favor? Their favor? Who knows? Any mistake is money plus or minus.

As the process ends TurboTax invites you to use Mint. The choice is Helaine’s as she’s Secretary of our Treasury, but it might not be a bad idea.

5 thoughts on “I Hate Preparing My Taxes”

  1. It is very painful to have to waste hours each year preparing and filing tax returns. I have found the H&R Block software (formerly TaxCut) to be just as good for me and less expensive. Also the Connecticut Dept of Revenue has a very easy to use website that allows you to file your state taxes for free. In my opinion the federal government should do the same thing.
    I have the same feeling as you as I hit the send button each year: I hope I didn’t forget something!

  2. Refund…Nice! I would think you were in a higher tax bracket. Although its only adding to the deficit, Im not sure what the tea partiers are complaining about with Mr. Obama’s taxes. Its at the same rate or slightly under Bush.

  3. Jack is right about the CT Tax E-file website. Its moderately easy to use.
    I always feel ridiculous filing it every year. As a college student, I have a job that pays under 5k a year. I chose to not deduct fed & state income tax. So, I dont owe taxes nor do I get a refund.
    Filing a bunch of zeros wont last for long…

  4. Refunds have to do with tax taken versus tax owed. Yes, I’m in a high bracket, but we purposely have a little extra taken out each check. It is fiscally foolish to let the government hold your money for free all year, but the refund in a lump sum is better than ponying up!
    This year my federal refund will be less than .5% of my income. Connecticut’s will be about twice that.

  5. We ditched our accountant 3 years ago because his fast and loose style was beginning to worry me.
    I went with TurboTax and while we’ve had to pay taxes the last two years I no longer live in fear of an audit.
    This year, thanks to additional withholding and increasing my pre-tax contributions to my 401k and flexible spending account, I will be getting money back this year.
    Geoff I agree with you about the charge for CT taxes. Why so much?

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