Which tax software for our particular situation?
February 11, 2013 5:56 AM Subscribe
I'm looking at tax softwares and not finding one that suits our particular need, which is, specificially: run all these scenarios and figure out what's best.
posted by TomMelee to work & money (7 answers total)
So our situation is a little peculiar. We're not married, we do own a house and car together and we do have a child, for whom only I take payroll exemptions (I make more $) and for whom we both otherwise evenly pay. I work from home 20% of the time. I also have a small business which is currently not being claimed because it is so small.
I completed my taxes in TurboTax 2012 this year, and my return was way less than I suspected. So, I started playing around with what I was claiming, and it turns out that even though I was claiming $4,141 in childcare credit, my return didn't increase above $1900, so I should really put the difference on HER return instead of mine. Same with my small office deduction---it didn't change much, so I figure why claim it all? Housing interest didn't do a lot either---or at least not all of it, and same with our significant healthcare bills this year, student loan interest, etc.
Anyway, now I'm tasked with finding the balance of who claims what so that we can maximize our return, which we DESPERATELY need---finances are rough right now.
So I'm thinking, there HAS to be tax software that takes all the info and then runs all the scenarios and spits out the best combination of claims, right?
Or...am I relegated to something like H&R Block? To give you an idea, our combined gross is right around $50k annually, so hiring a personal accountant person to squeeze the last bloody drops from the turnip hasn't seemed to make much sense.