Jan. 14th, 2008 @ 12:04 pm
we got our 2007 Turbo Tax Premier in Friday, and I installed both the Business and Personal today. I then decided to play with it - to make sure it works, you understand :wink: - so I started my personal return. (We do this every year - test the program with our personal returns. No big deal - I still have to pay the fees to file, and we *know* how the program works.)
Holy Cow have they changed it up! It is now *so* dumbed down, it isn't funny - and if you've used TT in the past, you'll understand when I ask "How in the world could they make it dumber???" :sigh:
I need to pull out my papers, but it looks like I'll be getting a wee bit more back this year - enough to buy my dining room set, put back for *next* year's property taxes, AND take a small vacation. :boggle: Why so much? Why, because I purchased *2* vehicles last year (never mind that I only kept 1 - I purchased 2, and that's what counts to the IRS) and I get to take the interest off on BOTH of them. :preens: Plus, they are still allowing you to take sales tax off on normal purchases....as well as *large* purchases (like, say, the Water Filtration system. :grin:)
So...I know what I need to dig up tonight. :grin:
Oh, that's so nice to know, maybe the parent's will not have to pay in this year, since they bought a pick up for $27,000, and paid to have the tractor repaired, a mere $5000. That and the calves didn't sell that great this year. They hurried up and paid all of the big ticket bills, fertilizer, seed, fuel, pasture rent so that they did have enough deductions. I think Mom said they have close to $60,000. worth of deductions this year.
Last year they got $150. for there income tax return, and they had never gotten a income return. So they were thrilled.
I do know that the first half of there property tax came in the mail $3500. Ish.
You can also take the property taxes - I don't think it's dollar for dollar, but you still list them and TT does..something. :grin: My property taxes were right at $3K last year...when I dropped it in, my refund went up (but I don't remember how much).
If ya'll do the returns yourselves, I highly recommend spending the $79 for TT. *Well* worth the money (and...I think you can deduct it. You used to could - but I didn't get that far today. :lol:) - and it asks for stuff I never would have thought of (like the vehicle taxes.)
They take it to a accountant, and spend $350. for them to figure it all out. They get a book back to sign and turn in. I usually use the Tax Act on my little W-2.
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