Discussion:Tax Handbook
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Rgtaxservice (talk|edits) said: | 27 December 2007 |
| Which is the better tax handbook - Quickfinder or The Tax Book?
I get solicitations from both every year and I've opted to give one a try. Any comments? | |
| 27 December 2007 | |
| I can't decide which is better. I've resigned myself to ordering both each year. If I had to pick just one though, I think I'd go with TheTaxBook, but I might as well toss a coin. They really are tweedledum, tweedledee.
It's a really close call between the two, but TheTaxBook has a 2-page chart that is extremely handy for breaking down all the Jerry Springer scenarios that land in your lap, like "mommy is shacking up with new boyfriend who says that makes him HOH, besides they have a lovechild on the way, mommy demands EIC for her kids even though she shuffled them off on granddaddy for the year and she worked 'for cash, under the table,' noncustodial bio-dad demands bio-brat as a dependent because of all the child-support they're taking out of his paycheck plus he's got the DNA test results to prove that the kid is his dependent." Try whipping the IRS Code out to decypher one of those little lovenests while you've got 5 more just like it lined up and waiting on your office doorstep. I should receive my QuickFinders today, and my copy of TheTaxBook just shipped yesterday, so I can't tell you whether one has emerged as the clear winner this year. I doubt it though. I'm expecting them to be about the same, as always. | |
| 27 December 2007 | |
| and with all those client situations, you still call yourself HAPPY TAX???? | |
Eastendcpa (talk|edits) said: | 27 December 2007 |
| Over the years I've used Quickfinders. Last year I broke down and ordered TaxBook Deluxe (1040 & business combined). I found it cumbersome to work with and several times I actually referred to my older Quickfinders for info because I had difficulty finding the info in the TaxBook. They both have the same info. This year I went back to Quickfinder just because the info is eaiser fo me to find. | |
Ksnoopytax (talk|edits) said: | 27 December 2007 |
| The Quickfinder for individuals runs about $50 but I think it's well worth it as much as I use it during tax season. I also purchased for the first time this year, the Quickfinder tax planning for businesses. It is decent but not as useful as the individual book. The great thing about Quickfinder is that it organizes the information so well. The master tax guide may have more information but I can find a simple rule much faster with Quickfinder. | |
| 27 December 2007 | |
| Has anybody tried the Quickfinder online research add on?
I have used Quickfinder for the last 5 or so years and usually reach for it first when I have a question. If it doesn't have the answer it usually gives me some direction. Haven't tried the Taxbook. | |
| 27 December 2007 | |
| Do you guys prefer books or virtual versions? i'm at the stupid computer screen 8+ hours a day. Need to get off of it!!! | |
Death&Taxes (talk|edits) said: | 27 December 2007 |
| Books offer the chance to see something on the horizon or to put it better, the facing page; on screen does not. When thumbing through paper my eye catches hold of items that I come back to, items I might not have been searching for in the first place. I have Quickfinder but also RIA Checkpoint. | |
Rgtaxservice (talk|edits) said: | 27 December 2007 |
| Both references are priced about the same - between $40 and $60 each. I might get both this season just to see which one works best for me.
I agree with D&T. I prefer books over virtual versions any day. I can always lie back on the couch with tax material and read some fascinating tax stuff. This is usually followed by waking up with said material draped on my chest after a visit from the sandman. | |
| 27 December 2007 | |
| Do you lock the office door first?
I've used Quickfinder for the last ten years - and it's great. This year I fell for the advertising and ordered TAXBOOK instead. Haven't received it yet/altmin delay got to them too. I'll let you know after tax season which one I prefer. And I do like the book vs the screen... D&T's comments ring very true. | |
| 27 December 2007 | |
| Personally I prefer the TAX BOOK for this reason and this reason only. More often than not in the last two years the Quickfinder has wrong information while the Tax Book was right. I have a fellow preparer who works with me and orders the Quickfinder and we have found many instances where by TTB was right or more thought out.
One example I think was in 2005 the Quickfinder said on a form 5329 penalty to include the reason for abatement and the money owed. The taxbook said attach a statement of the reasonable cause abatement and don't send in the money. Apparently in 2005 the IRS changed the procedure for abatement, where by paying the penalty before IRS gave its answer was not needed. I tried it the way the tax book said and my colleague tried it the way the Quickfinder said. My client has her money and a letter from the IRS granting reasonable cause. My colleague still is waiting for her answer and money. | |
| December 28, 2007 | |
| . . . some fascinating tax stuff LOL. (And my boys think I'm crazy when I read the monthly fraud magazine.)
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Rgtaxservice (talk|edits) said: | 28 December 2007 |
| I've decided to get both to try out. It's twice the napping material. Too bad I removed the futon from my office. | |
| 28 December 2007 | |
| If you are pretty new to this, as I am, and you do a lot of 1040s, check out J.K. Lasser's (Professional Edition because it has code references, I think it can only be ordered online). It has a ton of examples, and there is no question too stupid not to be answerd. But, it's not a super quick reference as the others mentioned here. I used The Tax Book Deluxe last year, and had no complaints. It even had a small blurb on consensus opinion on SE tax and MMLLCs, if I remember correctly. I am interested to know if anyone has purchased the new Quickfinder Special Situations? My understanding is that it covers all sorts of elections, and other special matters. Anyone? | |
