Expat Community > Ecuador

DUNMOVN
Joined 2011
Posts: 1991

TWO TERRIBLE TS

12 years ago

Two subjects most people don't like to talk about are taxes and toilet paper. But this time of year, we have to think about one of them. After overpaying tax preparers for some years when my taxes got complicated, I discovered Intuit's Turbo Tax For The Web and have been a happy camper for over 15 years. The cost is minimal and you can file electronically. I have used Quickbooks for my businesses and Quicken and BillPay for personal recored keeping and bill payment for all that time and it makes tax preparation if not a joy, at least not a headache because all the records are in one place. The programs provide a detailed tax summary report that you use with Turbo Tax or any tax preparation software or a live preparer.

One of the options with Turbo Tax is audit support. If you pay the small fee, usually less than $40 for that support and you are audited, Intuit will provide a live person to represent you to the IRS. I paid for this option every year and in 2009, I got a notice from the IRS that were auditing my 2007 and 2008 returns. These returns were very complex. 2007 was 96 pages and 2008 74 pages. It took the IRS almost one year and many meetings with my IRS intermediary to decide I did not owe any additional taxes and in fact I got a $3750 refund from 2008. The cost of the audit support was $25 per year and If I had to pay for the representation, the cost would have been $2500 for each year.

I am sold on Turbo Tax for the web, the cost is minimal I and will continue using it.

William Russell

Get a quote for international health insurance from our partner, William Russell.
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William Russell

Get a quote for international health insurance from our partner, William Russell.
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Expats in Ecuador share some of the pros and cons of living in Ecuador. Topics covered include where to live, the bureaucracy, the people and more.

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William Russell

Get a quote for international health insurance from our partner, William Russell.
Get Quote

William Russell

Get a quote for international health insurance from our partner, William Russell.
Get Quote

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Expat Community > Ecuador

TWO TERRIBLE TS

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