Friday, March 15, 2013

Do the "TurboTax" and "TaxCut" (etc.) programs really increase tax return amount?

Question by Richie G: Do the “TurboTax” and “TaxCut” (etc.) programs really increase tax return amount?
The reason being, tax season is upon us, and I have H&R Block’s Basic TaxCut program. If it actually helps, I am willing to spend the $ 30 to get an increase on my tax return. If not, then I’ll just stick to the program I have now.

I don’t have much to file, only two W-2 forms and a couple of things to claim (Union dues, and donations). So if it won’t make a big difference, then I won’t spend the extra money. Also, is Quicken or H&R Block’s program better?

Best answer:

Answer by GK
Most of these programs are about the same but they are very accurate. For fairly straight forward tax returns with few deductions it just won’t make much of a difference which one you use. If you have a more complicated return, business expenses, mortgage interest deductions, home office, children, ect, ect, then it might be wise to spend $ 100 on a good accountant to maximize your refund, assuming you are due one.
As far as Quicken and H&R’s programs, you just can’t go wrong, they are both excellent and it is unlikely that either one will catch something the other didn’t. Its a toss up.
I hope this helps.

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Do the "TurboTax" and "TaxCut" (etc.) programs really increase tax return amount?

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