Posted by LynnNC on 10/11/13 11:42am
Msg #487764

Need Tax Program

I filed an extension on my tax return, which is due next week. For about 10 years I used a CPA firm last year their fee was $800. I really don't want to pay that this year since my income has been cut drastically with the rise in interest rates.

I would appreciate input on what program to use.

Before I had the CPA prepare my returns, I used Turbo Tax a couple of times, but entering the 1099 info was very time consuming.

I want to make sure the program allows me to deduct notary income from self-employment tax.

Reply by Sylvia_FL on 10/11/13 12:22pm
Msg #487768

Bruce uses TurboTax (I think free version online) and he was able to deduct my notary income from SE tax with it.

Reply by LynnNC on 10/11/13 1:13pm
Msg #487773

Tax Act - are you able to deduct notary income from SE tax? n/m

Reply by JENNY/TX on 10/11/13 1:35pm
Msg #487774

Re: Tax Act - are you able to deduct notary income from SE tax?

yes

Reply by Sylvia_FL on 10/11/13 2:09pm
Msg #487778

Re: Tax Act - are you able to deduct notary income from SE tax?

you don't pay SE tax on notary income (only the notarization portion of a loan signing)

Reply by LynnNC on 10/11/13 4:28pm
Msg #487801

I mean to say deduct notary income so no SE tax on it n/m

Reply by JENNY/TX on 10/11/13 12:49pm
Msg #487770

Tax

Turbo Tax was so messed up last year I used Tax Act. Worked great and much cheaper if you get the bundle with the state included.

http://www.taxact.com/

Reply by bagger on 10/11/13 1:02pm
Msg #487772

Re: Tax

I switched to Tax Act 2 years ago, and love it.

Reply by Doris_CO on 10/11/13 1:42pm
Msg #487775

Hopefully, one of our tax professionals will answer you, but I don't think you need to list all your 1099's, especially if you have income that wasn't reported on a 1099. You do want to find a program that will plug in your exempt notary fees from your Self Employment tax. Or, you might look around for a CPA that isn't as expensive. My husband and I use a CPA because we have investment property plus our notary business and our CPA fee was a couple $100 less than what you paid.

Reply by Darlin_AL on 10/11/13 2:00pm
Msg #487777

Used TaxAct, has all options we need, & state n/m

Reply by MW/VA on 10/11/13 9:42pm
Msg #487830

I use TurboTax, Lynn, and don't enter each 1099, just my

total income. I do take the deduction from SE tax, and I can do that with that program.
It's under "adjustments to SE tax worksheet".

Reply by sueharke on 10/12/13 12:27am
Msg #487841

Responding as a CPA: If you don't understand how or find the input into the tax program hard to understand, go back to the CPA! It will cost you more to fix (amend) the tax return than do it right the first time. Dealing with the IRS and state taxing agencies is very time consuming and unless you know the ins and outs of how to do - you will pay more in time and effort to fix the problem.

Reply by SharonMN on 10/14/13 12:27pm
Msg #488067

Or, just grab the tax forms and the instruction booklet and do it yourself. It's not that hard. Just carefully read each line of the instructions.