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Questions about Income Tax Calculators?

Posted by on Jan. 25, 2010 at 11:06 AM
  • 7 Replies

Hi ladies. I was wondering, i went to H&R block website and the Turbo Tax website to calculate what we could be getting back in taxes this year. Well, i put in the same exact info for both sites, and there is about a $1000 difference. H&R is higher than turbo Tax. I am just trying to figure out why there is such a huge difference. I know it's just an estimation, but I want to get back as much as i can. Anyone have any advice? I mean can you get back more with some and not others?

by on Jan. 25, 2010 at 11:06 AM
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Replies (1-7):
ReagansMommy19
by on Jan. 25, 2010 at 11:07 AM

bump

mysteriousmom06
by on Jan. 25, 2010 at 11:07 AM

Well once you get all your info, you can put it into both sites & see which one actually gives you a bigger refund. I do this every year b/c they only charge you if you file. I always get a bigger one with turbo tax though.

lexismum03
by on Jan. 25, 2010 at 11:10 AM

I always check 3 different websites. H&R block, Tax Act, and Turbo Tax. there is usually about a 20$ difference. This year there was a 2000$ difference. H&R block helped me figure in my husbands full-time student status and got us rebates on that. I have always been able to get a little more from one than another but this year it was a crazy difference. Needless to say we went with H&R block!

mumbellina
by on Jan. 25, 2010 at 11:23 AM

My husband's actually a tax accountant so I do know a little about this. The preliminary tools vary with how in-depth they get and the formulas they use to calculate. For the actual calculations though the software has to conform to the tax laws so it will be the same. The only way it would make a difference is if you have some unusual exemptions, own a medium or large business, or have a large estate with lots of investments. If any ot those apply you're better off spending the money to hire an actual accountant anyway.

AM-BRAT
by Amber on Jan. 25, 2010 at 11:45 AM

YA, I don't like the online stuff, GL!

Bmat
by Barb on Jan. 25, 2010 at 11:48 AM

I know several people who use online methods. We haven't so far.

MommyMica
by on Jan. 25, 2010 at 11:51 AM

I would imagine that the tax calculators are not in depth and are made to just use basic info. This is why they are only estimations and not exact.

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