Turbo tax

[Scout]

My accountant has made several mistakes as of late and I'm thinking of using turbo tax next year. I used it many years ago and appreciated it's ease of use, but for the last decade or so I've used an accountant as my situation became a bit more complex.

My wife and I are both independent contractors so we get a 1099 and each contribute to a SEP. We each have our own s-corp with the accompanying payroll/w2, etc. under the advice of my accountant. I guess it helps me save on FICA/self employment taxes.

Anyway, I've searched some of the posts here and looked through a couple of turbo tax tutorials, but I'm having difficulty figuring out if turbo tax will be appropriate software for our moderately complex (in my little head)situation. Maybe we should stop using the S-corps to simplify things?
Any advice is appreciated.

 

[jonat]

TurboTax Business (not Home and Business) is what you want here. Cheaper from Amazon than buying direct. This is also what you need for filing Trust returns.

 

[RunningBum]

If you're unsure you could buy TT this year, run your numbers through it, and see how it compares to what your accountant came up with. If they are the same, you should be good to go. If different, examine to see which was wrong, and proceed accordingly.

 

[pb4uski]

^^^ good idea. Then you can also use the What-If worksheet to see how your 2018 taxes will shape up and in doing estimated taxes.

 

[donheff]

I switched from an accountant to Turbo Tax after I retired and DW dropped into a form of semi-retirement with her law firm. You may want to do what I did and run TT on the side and compare the return with your accountant's. I did that one year and was able to straighten out a few things that were off in my assumptions. Once I got the initial bugs worked out I was fine using TT.

 

[Scout]

All great advice
Can you do payroll and quarterlies through TT?

 

[pb4uski]

Probably not.... you'll need somethig like Quickbooks for payroll and payroll tax returns.

 

[Scout]

Thanks everyone.
Very helpful responses.

 

[meierlde]

TT business will do forms 1165 (partnership) 1120 C corp, 1120 S Scorp, and 1041 trusts and estates, as well as 1099s.