Today it's the last day to file tax returns with our good friends at the IRS. Yippee! Nothing says happiness like paying taxes, right?
I used TurboTax to generate my federal and state tax returns. I've been using TurboTax for about 5 years now and I love it. Before TurboTax, I would write up everything by hand and use my calculator for determining my short and long-term capital gains (or losses). Now I just plug everything in and away I go.
I was talking to my day care provider the other day, and she said that she drops off everything with her accountant about 1-2 weeks before April 15. She claims that her accountant is "worth every penny" because he figures out deductions that she wouldn't figure out herself.
I'm a bit skeptical about that. I don't see why TurboTax wouldn't pick up on possible deductions she could take. She has a business but it's a day care business and she's the sole proprietor. It's not like she has several employees working for her with all the complications that come along with hiring personnel. And TurboTax is quite thorough at going through the tax benefits of having a home office and figuring out deductions for car mileage, supplies, and everything else that goes along with taking care of kids.
I'm surprised how many people would rather have their accountant do their taxes than spend a few hours doing it themselves. And if you use HRBlock, do NOT take a refund acceleration loan --- it's a short-term loan that charges an exorbitant interest rate for people who can't wait just 2 lousy weeks to get their refund checks. Just wait.
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