The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/the-other-day-i-picked-up-a-turbotax-box-and-read-27343274.aspx

Subject:  Re: Best Tax software? Date:  1/13/2009  5:27 AM
Author:  TMFPMarti Number:  103595 of 121333

The other day I picked up a TurboTax box and read how it walks you thru 300+ scenarios for deductions, etc etc.

I saw an ad on TV that said I could look like Brad Pitt if I took some pills. Another pill will make me look like Secretariat, if ya know what I mean. Forget the box.

Tax software is a combination typewriter/adding machine that produces pretty returns without math errors. If you could comfortably figure out each non-math entry on a paper and pencil return, you can use software with no worry. If you don't have someone to nag you about things you keep forgetting it can be helpful in filling that role. If you have a lot of entries, say from trades, it's a Godsend because it simplifies the data entry process. But if you don't basically know what you're doing all you can be sure of is a pretty return.

My wife and I are considering forming a LLC home business in 2009, so at some point I would like to have a platform that can assist me with those taxes also

That platform, at least at the beginning, is an accountant. Do not start a business without at least one session with one. No box can compete.

Phil
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us