Customer Reviews

2006 TurboTax Business Corporations and Partnerships [OLDER VERSION]

5 star:		(9)
4 star:		(4)
3 star:		(4)
2 star:		(1)
1 star:		(5)

 

 

Shame on me for buying this each year. For the third year in a row it has bugs and the support this year is just as bad as the previous ones. My Illinois State return, which I bought online through the federal product, keeps generating late payment charges on my return, despite the fact that taxes aren't due for another month. The wait time to speak to a foreigner on the phone is 60 minutes, and the email support is ludicrous because the people answering the emails take longer than the phone hold queue to respond, and come back with nonsense.

Have used this program for several years for my small 1120S corporation. I find it easy and fast to use. It walks you through your return, step by step. Why pay an accountant -- they require you to give them all your figures -- if you have the data, just enter it into this program and your taxes are done. Importing of your data from last years return is a big help -- especially when figuring depreciation. E-filing is available as well as representation for you if the IRS questions your return -- both are at a small extra charge. If you're smart enough to run a small business, you're certainly smart enough to use this program.

My husband is the tax guy in our family. We used turbo tax in previous years as well as Quicken. For the last five days he has been trying to get the tax information into the program to run a proof on the taxes owed, etc. He has a business, and I am a realtor so we have a lot of home deductions, and small business expenses. He gets to the bottom line, and realizes the program never asked him, during the interview portion, for home office expense, car expense, and several other items that he claimed last year on the tax return. He had to manually go back and enter the items, then the program froze. He had saved it "early and often", but when he reopened the program, it didn't have any of the saved information! He is such a hard head, he did it again... and again... and that same scenerio keeps happening. It is a dog...

I found the new 2006 Turbo Tax Program to be the simplest yet. I have used Turbo Tax for the last six years and each year I am amazed at the rich array of improvements and simplifications.

I worked, two years ago, as a Tax Consultant for an area Tax Accountant and I was amazed how much I had learned about tax preparation from just having used my Turbo Tax programs.

I totally recommend the New Turbo Tax to anyone regardless of your skill level

This is a very easy to use program and is very accurate. It has many of the same features as the Professional version also by Intuit. Since you can prepare different tax entities using one program, it is a real value. There are many state modules which are offered to compliment this tax preparation program.

One of the best features is that what you see on the screen is an actual tax return and you can enter your data directly into fields of the return. This makes the preparation easy since the data flows right into the return and you can see what return will look like. Most of the calculations are automatic and this minimizes chances for mistakes. Also there is a diagnostic mode which checks the return for you and guides you through protential problems so that you can file an accurate tax return.

There is also a direct link to Quickbooks which is easy to setup. Once you setup the links then all the amounts from Quickbooks are automatically transferred over to Turbo Tax. It can be a little tricky for first time users.

My only compliant is that in the preparation area you cannot enter some of the information and the program says "Self Prepared" on the final printed copy of the return.

Save yourself a lot of time and money and just try this tax program first. I have tried many programs over the years and found this one very easy to use and very accurate. If you find a better one out there for the value, please let me know. I was a beta tester of this program.

I have been using the Federal Turbo Tax for years and love it. This year is my first year with an LLC so I have to fill out a 1065. Thus, I needed to also buy the Corporations and Partnership version. The tax guy wanted $1,000 so I thought I would save myself money now and in the years to come if I could do it myself. I highly recommend to anyone using this product to go to [...] and download the 1065 PDF help forms which guide you through the process. The help provided by Turbo Tax is not good. Even with the prompting, it took me about 30+ hours to research and figure things out. Two important things that I learned. First, the corporation does not pay taxes. You pay the partners (yourself) or the employees and they pay taxes on their individual federal forms. Second, an LLC cannot claim part of their home as an office. Go to the irs web page and read the home office form for more info on this. I will most likely buy this program next year along with the Federal and State versions because in the long run it will save me time and money.

..............Good Tax Program!!!

I was lucky enough to be a beta tester for this years software. It simplified doing my s corp taxes much like turbo tax for personal taxes. It is easy to use and the software walks you through the process step by step. By using the software I was able to get my taxes completed quicker and cheaper then using a cpa.

I purchased this product to complete the company tax returns in 2007 for 2006. The product was very easy to use and allowed me to file me taxes on time without the headache. However, you have to repurchase the product each year; there are not upgrades.

I previsouly used an accountant for my S-corp (federal, state and NYC) returns as well as (federal and state) personal returns. That can easily come to $1000. With turbotax you save a bunch around $750. The business product DOES NOT INCLUDE STATE RETURN which is another $50, and the NYC return is an additional $50 (available from inside the program).

I used it the first time this year, I am pretty good with numbers, accounting and excel. It tool me well over 10 hours to enter the business returns after having all my numbers estimated in excel.

The customer support by email was helpful as was the community forum, but responses are not always quick. and it is a time consuming process to research questions. The is VERY LITTLE GUIDANCE in filling out the state and NYC return. TT basically gives you the form and let you fill in the areas not generated by numbers on the federal return. TT reviews those returns for errors which certainly adds some value (relative to pencil and paper). It was too difficult for me to fill in state and NYC myself off the fed business return without any software, so I don't see that as an option (to save $100) despite the limited additional information needed.

BOTTOM LINE - The first year using it will probably cause some of your hair to turn grey, subsequent years should be much easier. The navigation and interface is not intuitive enough for to make the first year smoot but over the years you can save a substancially in preparing you own taxes.

One strategy might be to try it one year and run it by a tax accountant (as training wheels) and then in subsequent years do it on your own. (of course year one would be time consuming and expensive but that probably makes sense in the long run.)