Posted by John_NorCal on 4/7/06 9:51am
Msg #111822
OT Tax Programs
With April 17th drawing closer, I thought I would throw in my 2 bits worth about tax programs.
While programs like Turbo Tax, Tax Cut, etc may be adequate for the average tax payer, they are not an end all for all tax situations. If you have any special situations in your return, you might want to consider getting a tax professional involved in your return. Just yesterday, I prepared a return for a "computer professional" after he had used Turbo Tax. It turns out he had incentive stock options that were sold at an overall loss. After looking at his W-2 and his brokerage statements I was able to throw out the $33,000 gain that he had reported. Short story is that he is now out of the dog house! Instead of paying the IRS $2800, he is getting a $2900 refund, and his state tax has gone from $4400 down to $1700 due. As I said if you have any special situations in your life, get a tax professional to help you.
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