Yeah, I think I had at least five upsell requests which I declined.
They did however insist that I had to buy their self-employed package if I had any rental income. I could not proceed until I bought it. Annoying as I have had farm rental income for decades and never needed special software to reflect it. No choice but to buy the stupid upgrade which doubled my cost.
Yeah, all your info is already there, so it is hard to switch e-preparers. And how do you determine to whom to switch? I mean, your situation is somewhat rare, so youâd need a guide to the cost of e-preparers for owning farm land, in Canada.
First Google search reveals nothing.
The same simple reporting form applies in Canada for farming and apartment rental income. I completed it manually for years before switching to TurboTax who then did it for no extra cost for years. It is a simple money grab on their part as nothing has changed to do the filing
GrrrrrâŚ
It was super easy for me to switch from TurboTax last year to FreeTaxUSA this year.
I used to use CreditKarma for free, then was caught off-guard that theyâd merged with Intuit/TurboTax so I paid for at least 1⌠maybe 2-3 years?
Then I switched this year and it was so simple I donât even recall what I had to do.
The tax software has gotten really good. Unless you have a very complex situation, the software is basically a commodity now so go for the low cost provider.
Iâve been using TaxSlayer. It was over $100. Iâll look into the â'FreeâTaxUSAâ program next year.
I mean TaxSlayer is âfreeâ if you donât file, I think. I should try next year to print the documents after inputting but prior to filing, and send them via the USPS.
FreeTaxUSA was $0 federal for me. I think $15 state.
I just checked online if there was some income cutoff - would be surprised if there was and I hadnât hit it, given that TurboTax cuts people off at the ~30th percentile.
Google for some reason gives conflicting hits, but I think some people are confusing it with IRS Free File, which does have an income limit. Other people are verifying that FreeTaxUSA has no income limit for free (at least basic W2) federal filings.
I used FreeTaxUSA when mrs. yoyo were still working full time with no charge for federal electronic filing. Our combined income was certainly well above any income cutoff you might reasonably expect for income limited free access.
If you used this guy, you might want to double check that returnâŚ
From the link:
KEY POINTS
- A New York tax preparer was arrested on charges related to causing âsubstantiallyâ more than $100 million in tax losses through the filing of false returns â one of the largest tax frauds ever by a preparer, federal prosecutors said.
- The preparer, Rafael Alvarez, orchestrated a âwide-ranging schemeâ at his Bronx firm ATAX New York âto file tens of thousands of federal individual income tax returnsâ that included false information to reduce the tax liability of their filers, prosecutors said.
- Alvarez became known to customers as âThe Magicianâ for his âability to make customersâ tax burden disappear,â said Manhattan U.S. Attorney Damian Williams on Monday, the deadline day for most Americans to file their income tax returns.
Reminds me of:
âYou can be a millionaire and not pay taxesâŚâ
This is the way. You get your refund slower, but if you give them your direct deposit info then not enough slower that the lost interest counteracts the cost savings. And if you owe it doesnât matter how long it takes them.
I have a wealthy friend, very liberal, frequently bemoans the fact that weâre undertaxed, especially people as rich as he is, but is adamantly opposed to taxing dividend income at ordinary income tax rates (guess who has HUGE dividend income). Complicated tax returns with lots of supporting documents. Always files a full paper return on the last day. Why? To slow down the process and make life difficult for whoever has to process his return - those bastards at the IRS donâtcha know.
Yeah, I have heard similar sentiments from rich friends. They think the other rich folks should pay more taxes rather than them.
Our Finance Minister last night announced an increase in capital gains inclusion rate for individuals from 50% to 66-2/3% on annual gains over $250,000. I am in the process of selling our Ontario farm so will get zapped a bit on that one but it fits with current government goal to pay for spending on younger age groups.
You would hear some of the same from me (that qualified dividends and capital gains should be taxed at a lower rate than ordinary income). But I would still be in favor of higher incomes (including me) paying more taxes. I just think that changing the rate only on qualified dividends / capital gains would be a poor way to address the problems with the current system. I would rather see all the tax rates returned to the pre-Trump levels, or even a surcharge on all taxable income of any sort above 100,000 (or 200,000)
[Preferably with a tightening of some deductions as well].
FWIW, for 2023 qualified dividends and capital gains were roughly 12% of our taxable income (in a joint return), and we did not itemize deductions.
If he feels he should pay more taxes, he could send in a contribution.
Switched from TurboTax to FreeTaxUSA a couple of years ago. Our taxes arenât that complicated so itâs easy and only $15 for the state filing. Canât beat that deal.
Iâve made that suggestion. Itâs met with stony silence.
Holy withholding Batman!