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Freetaxusa, pretty simple taxes. One w-2, lots of 1099-int and 1099-div. Child credits, standard deduction.
I used to use free turbo tax but been happy with the switch to freetaxusa
Bowl Leader
Same switch here, though I itemized (property tax, mortgage interest, sales tax, charitable donations)
Coach
Wow it seems I’m the only bozo using TurboTax. Maybe I’ll look into a free one
Love FreeTaxUSA
freetaxusa, $500k HHI, 2 W2s, mortgage, back door Roth, MBDR, some dividend and interest, small revenue with a consulting gig. nothing too complicated. do not itemize.
Freetaxusa, free other than state filing (which can be done free through state website).
Moderately complex with w2s, investments, mega backdoor, itemized deductions.
HHI $1.1M
I use a tax accountant. $500k HHI. 2 LLC, a foundation plus the usual 401k. Relatively complex with side business, including real estate. Kids and parents are dependents.
I pay for the service because it has reduced our HH Effective Tax rate to around 15%.
Thanks! Will definitely check out freetaxusa. Seems cheaper than TurboTax or tax act
Also freetaxusa. Have all of the things you have minus the state filings. Believe they just charge $15 per state filing
Same. I used to mail in my state return but they required a copy of the federal and by the time I printed and paid postage it wasn't worth it to save $5-10.
Subject Expert
IRS Fillable forms.
Fairly low tax complexity, similar to your situation. HHI $275k
I use it because I’m cheap and don’t want to pay to file taxes.
Also because I like knowing how taxes work, which helps me optimize.
I could be persuaded to pay to save some time, but probably will keep doing myself.
There are other free options that may be easier, though I respect wanting to know the taxes. May be worth a comparison to see if you get the same answer
Mentor
I have a tax accountant, as partnership returns are a colossal pain. One I fire, I'll likely just use TurboTax. I use it now for some family member returns.
Mentor
Makes $500k HHI
Uses a free tax filing solution
🤷♂️
Mentor
An LLC has no impact on what you can or can’t deduct from rental real estate, or how that income is taxed. Whoever told you that probably made money on your lack of knowledge.
TurboTax, 2 W2’s, standard deduction, 6 minor dependents, child care credit, rental property income, RSU, ESPP, 401k, TSP, IRA’s, MBDR, some freelance work, no state. HHI $350k. Thanks to the ton on kids we have and tax free compensation from the military, our effective tax rate is under 9%.
I’m a former enlisted, now civilian. He’s lucky to have a wife that brings combined HHI of a flag officer!
We use TurboTax. HHI ~400k. On the complex side as we have oil royalties in two states outside the one we live in.
I use TurboTax too. But more out of habit as I’ve used it for 10 years.
My FIL! He has TurboTax software installed (?) and does all our taxes and his business’ as well! Before that I used to either do it on my own or use H&R Block.
Similar to you plus multiple properties and REP status for cost seg / bonus depricate to offset w2 income.
I use TurboTax max for the included tax advice and audit protection esp bc REP status is hard to defend with dual w2s but in my case it’s warranted.
I go to a CPA that specializes in day trader status. I trade stocks on the side and plus other things, the free tax software cant handle. We are also a HHI (600k ish).