posted on January 6, 2001 12:04:06 PM
I would like to do my own taxes (pretty simple, just a schedule C that isn't very involved) this year. I went looking at software programs for doing and filing taxes...should I get Kiplinger taxcut or Quicken? What version should I get? I need to do my own taxes with a schedule C and I also need to do a friend's which will have no schedule C...Can I do and file both of our taxes with one program?
Do I have to buy a tax software package every year, or can I use the same one year after year?
Do I need to buy a "Home & Business" version, or can I buy the cheapie personal version and still manage to tack on the schedule C with it?
I am really tired of my messy bookkeeping...I have "Money" that came on my computer and it seems nice..but it doesn't seem to have a place to put in business/auction info...
Maybe there's a different version of Money that does your business/auction record keeping? If there is, is there an "upgrade" rather than having to buy a whole new package?
Or should I forget Money and get Quicken? the Home & Business version? Or are there other home business software programs out there that are all fired wonderful?
posted on January 6, 2001 02:43:03 PM
I don't know how much help I'll be, but I'll take a stab at some of your questions:
...should I get Kiplinger taxcut or Quicken?
I don't know anything about Taxcut or Money. Any answers below are related to my experience with Quicken and TurboTax.
Do I have to buy a tax software package every year, or can I use the same one year after year?
You will need a new one each year, in order to keep up with changes in the tax codes.
There I need to do my own taxes with a schedule C and I also need to do a friend's which will have no schedule C...Can I do and file both of our taxes with one program?
I believe that you can do this.
Do I need to buy a "Home & Business" version, or can I buy the cheapie personal version and still manage to tack on the schedule C with it?
I'm not sure about the personal version. I bought TurboTax Deluxe (which does have the Schedule C form) along with Quicken 2001 Basic for $70, which included a $30 rebate on Quicken and a $10 rebate on TurboTax. There was also a rebate available on the purchase on TurboTax State and the electronic filing fee which makes each of those items free. Total cost for everything- $30.
Or should I forget Money and get Quicken? the Home & Business version? Or are there other home business software programs out there that are all fired wonderful?
Quicken does have a home/business program as well as a business package available (QuickBooks), but they are more more involved than anything I have a use for. I would guess that if your business needs are simple, you could probably handle it with the personal version of Quicken, but don't quote me on that.
posted on January 6, 2001 03:45:21 PM
I think if you use Quicken or another financial software all year long to enter your info into, using that makers tax software would be fairly easy. IF the correct data had been entered all year long.
I'm not sure about using one after the fact...there would be a ton of information to input. Not much different than using pencil and paper I think.
I've used Quicken for about 10 years now and used to do my own taxes with TurboTax (until my financial life became too darned complicated with trusts, estates, sales of rental property, etc.)
I bought Quicken Home & Business this year... mostly just to see what it's about. It's not really necessary to have it. Regular Quicken is fine, unless you have a need to create invoices.
In Quicken, when you create a category, you can link it to a tax form. There's a whole list of items for Schedule C. It's easy to import your Quicken data into TurboTax.
You can do more than one person's taxes separately on TurboTax. Just start a separate file for the 2nd person.
You don't need a new version of Quicken each year, but you will need a new version of any tax software you buy each and every year. There are always changes in the tax laws!
posted on January 6, 2001 05:11:35 PM
I just found out that Quicken will soon have a "do your own taxes online" thing...where you don't have to buy any software at all, I think. So maybe that's a better option..
About Quicken...just regular old Quicken, not the Home & Business...is there somewhere in there I can put "sales" and "expenses" and "supplies costs"..."profit"...etc...
I keep auction records in Excel spreadsheet..can those be imported into Quicken (the regular old Quicken) somehow?
Sorry I'm so clueless. Greatly appreciate the help.
