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The Water Cooler
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Tax question
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<blockquote data-quote="Bchance" data-source="post: 3510925" data-attributes="member: 42402"><p>I’m an accountant, not a CPA (working on that), with that said, Turbo tax serves its purpose to some extent but also hurts a lot of people. I’ve corrected a lot of turbo tax returns. </p><p>Yes, you’ll pay the income tax but as stated above, it can be spread out. Also, our tax brackets are progressive, meaning that just because you “jump” into a higher tax bracket doesn’t mean you’re taxed fully in that bracket. Only the amount that went over the prior tax bracket. That doesn’t seem correct unless you have other sources of income and/or no withholding. Feel free to PM me, otherwise, ditch Turbo Tax.</p></blockquote><p></p>
[QUOTE="Bchance, post: 3510925, member: 42402"] I’m an accountant, not a CPA (working on that), with that said, Turbo tax serves its purpose to some extent but also hurts a lot of people. I’ve corrected a lot of turbo tax returns. Yes, you’ll pay the income tax but as stated above, it can be spread out. Also, our tax brackets are progressive, meaning that just because you “jump” into a higher tax bracket doesn’t mean you’re taxed fully in that bracket. Only the amount that went over the prior tax bracket. That doesn’t seem correct unless you have other sources of income and/or no withholding. Feel free to PM me, otherwise, ditch Turbo Tax. [/QUOTE]
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