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I don’t do my own taxes anymore due to the complexity. The last year I filed my taxes myself was in 2014, and I used Turbo Tax’s online product. 1. It makes no
by tracer4201 7y ago
I don’t do my own taxes anymore due to the complexity. The last year I filed my taxes myself was in 2014, and I used Turbo Tax’s online product.
1. It makes no sense to me why I have to pay because my income was over some threshold. Why does the government prop up an industry and force me to pay to file my taxes. If Uncle Sam already knows what I owe, just show it to me to review and a box to sign and attach bank account details. This is a scam. Uncle Sam has an agreement with these companies not to provide a product and relies on these companies instead, who are only in it to maximize profit. It doesn’t make sense.
2. There was no traceability. At least in 2014, Turbo Tax had me enter my W2, add in some interest I’d earned and then connect to my brokerage accounts to pull in cost basis and selling prices for various equity trades.
Then they told me I owe about $85K. A magic number... great! This was all wrong. My W2 withholding was fine, and the sum of what I owed on a few trades I made that year and accrued interest was closer to $12K.
I don’t trust TurboTax. Maybe it’s sufficient if all you have is a W2, but they’re not acting on their customers behalf. They exist to maximize their own profit.