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Doing Your Taxes on the Computer

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. Math Accuracy

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Doing Your Taxes on the Computer

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  1. Doing Your Taxes on the Computer Donald Burgard, CPA Smoker Smith & Associates PC Hershey, Pa

  2. 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

  3. 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 Pro’s and Con’s

  4. Your Options • Canned Off the Shelf Software • Examples: Turbo Tax and Tax Cut

  5. Second Option • Online Web Based Processors

  6. Free Option • Free File by IRS

  7. 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 Off the Shelf Software

  8. 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

  9. 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

  10. Online Web Based Processors • Con – they try to sell you more products and services • Pro – costs – usually cheaper than canned off the shelf version

  11. 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!

  12. 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

  13. Thanks! • dburgard@smokersmith.com • 717-533-5154 x 123

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