Any Income Tax Experts?

[SmokeProper]

I normally use taxcut software for my joint tax returns.

But this year for the first time I want to claim deductions, our new home's interest, church tithes, and part of my cell phone bill-used for/at work.

Is this simple for me to do with the normal software? Any tips?

 

[Jwrussell]

Go ahead with the software. I've used Taxcut for a few years now and have always claimed deductions. Works like a charm.

 

[TexaSmoke]

I normally use taxcut software for my joint tax returns.

But this year for the first time I want to claim deductions, our new home's interest, church tithes, and part of my cell phone bill-used for/at work.

Is this simple for me to do with the normal software? Any tips?

What you are doing is pretty basic. The programs like TaxCut all will be able to handle this.

 

[tobby4]

yes it is simple, you just have to determine if your deductions are more than the standard deductions...

 

[caseabb]

You can totally write off the cell phone for business uses. Ideally you would have one line for business and one for personal use, that is rarely the case these days. Just make sure you have past copies of your bills. If you are audited this item will be scrutinized so make sure you can distinguish between personal and business calls for deduction purposes.

 

[TexaSmoke]

You can totally write off the cell phone for business uses. Ideally you would have one line for business and one for personal use, that is rarely the case these days. Just make sure you have past copies of your bills. If you are audited this item will be scrutinized so make sure you can distinguish between personal and business calls for deduction purposes.

That's correct. In fact you can write off pretty much anything if you own your own business. Plus the chance of getting audited is so small, that unless you do something stupid (that causes the IRS system to flag your return) you probably won't ever have to worry about it.

 

[Headbanger]

Home interest (don't forget property tax along with any points you paid at closing) are a snap on TaxCut or TurboTax programs, easy as pie. They will guild you through the entire process when you click "did you buy a home in 2007?" or something like that. Make sure you look closely at the deduction section and take as much as you can justify to reduce your taxable income. It will tell you the best way to file to get more money back or pay less to the IRS.

PS, I am not in the field but been use TurboTax for about 10 years for both personal 1040A and small in home business for schedule 1040C.

 

[Wasch_24]

Yep, the software makes it soo much easier then paper forms.