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Post by bobfl on Apr 11, 2023 11:27:45 GMT
This post is really for individuals considering Turbo Tax for the first time.
I am having my wife do taxes while I assist. If I go over the rainbow bridge, I don't want her paying thousands to do taxes. Waited until April to make sure the broker had all forms.
What I learned:
1. Bought the software on Amazon on sale on Black Friday, as usual, and held it in their digital library. It took 20 minutes to find it and the instruction email with the license, etc. Next time, we will download and install immediately so it is there waiting.
2. Had her use the method of going through all their questions manually. She made it through easily. The "next" bottom was off the screen, so had to scroll down each time which is weird.The thing that was different this year was when I tried to connect to the broker, 3 times it did not connect and said "comeback in a few hours". But we just kept trying. So with that delay and her entering non broker stuff, it took less than 20 minutes to actually complete, plus about 20 minutes for the download part.
3. I save documents off the computer, in case I get hacked. And changed the broker password afterwards.
4. I saved all forms which, including worksheets, was 52 pages.
It used to take me a solid week to do taxes.
PS. I do insert the thumb with the previous tax info so that all personal info and previous tax info is automatically pulled in. Plus the software compares this year and last year.
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Post by steadyeddy on Apr 11, 2023 12:26:59 GMT
bobfl, one thing to be aware of in downloading from certain brokerages is that only certain browsers work in opening a separate window to login. I typically use Brave as my browser and TT doesn't support that browser. So I had to set Microsfot Edge as default browser while doing my taxes.
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Post by bobfl on Apr 11, 2023 14:32:45 GMT
bobfl , one thing to be aware of in downloading from certain brokerages is that only certain browsers work in opening a separate window to login. I typically use Brave as my browser and TT doesn't support that browser. So I had to set Microsfot Edge as default browser while doing my taxes. Thanks. One of our Windows computers is (hopefully) for secure online computing. Having retired from the computer security industry, I have seen major clients, like school systems and a major railroad company get hacked for one reason, because they did not have the latest updates in their computers. The rail company had all their trains shut down along the east coast. They thought our software might not have protected them, but we found their computer updates were not current. We helped them bring all system updates current and they got the trains running again. So before I do any financial computing online I check for updates. That can take forever to download with Windows. |
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Post by archer on Apr 11, 2023 15:01:43 GMT
bobfl, Looks like you might be a good person to ask, are the online versions much less secure than the download versions? I've heard opposing views on this but none from anyone that I felt really knew.
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Post by bobfl on Apr 11, 2023 15:25:43 GMT
bobfl , Looks like you might be a good person to ask, are the online versions much less secure than the download versions? I've heard opposing views on this but none from anyone that I felt really knew. For clarification, the software is available on DVDs, downloads from Amazon, etc. or direct online from Turbo Tax. Regardless, you have to go online to Turbo Tax for the latest updated software. So that security risk seems the same. You could then go off line, I guess, and prepare your taxes and mail it in. But if you pull from your broker you still have to go online. You could get hard copies from the broker and manually enter the forms. I never wanted to do financial stuff online but now I do banking and brokerage online on one dedicated computer, so I try to protect that computer with current system and security updates and hope for the best. I do have it set up with charge cards and the broker to get alerts on activity. Nothing is totally safe. Just read about how mail is getting stolen so much, so can image how a crook views a nice IRS envelope if you send it in. So to respond to your statement, "I've heard opposing views on this but none from anyone that I felt really knew." Well, you still haven't found someone who really knows in me. As a side story we had big booths at industry trade shows. I would demonstrate how I could use a Pringle can and software and point to someone across the large room and pickup their online activity. If there is a way, the hackers will find it. |
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Post by bb2 on Apr 11, 2023 19:16:10 GMT
Dedicated laptop for anything financial. No email, no browsing, no installs; nothing but what's necessary for stocks, taxes, banking.
And yes, always stay updated.
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Post by bobfl on Apr 11, 2023 19:32:21 GMT
Dedicated laptop for anything financial. No email, no browsing, no installs; nothing but what's necessary for stocks, taxes, banking. And yes, always stay updated. Yes. 100%. I have that one computer. When I need anything financial, I turn it on. Get updates (antivirus and system). Do the task. Do a quick clean. Turn it off. If wired into a network, unplug it from the network. Crooks can wake up a computer. Also change passwords. Get activity alerts for all financial accounts and delete the alerts from your emails. You are fooling yourself if you think they can't scan your emails. |
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Post by archer on Apr 11, 2023 21:17:02 GMT
bb2, bobfl, On a dedicated laptop, would you avoid logging on to your banking or brokerage websites, say for online transactions or importing tax forms from financial institutions, or just checking PF?
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Post by bobfl on Apr 11, 2023 22:11:59 GMT
bb2 , bobfl , On a dedicated laptop, would you avoid logging on to your banking or brokerage websites, say for online transactions or importing tax forms from financial institutions, or just checking PF? When I see people walking down the street accessing all their financial stuff on the phone (in ads), I wonder it I am just old fashioned. The best thing might be to do security and system updates and use 2 step verification where possible. My broker has a security password thumb with a changing number, that no one should ever guess. My old broker had a weird number sheet which no one could guess. Just ask your broker or bank what is the best security they have for you to use. The dedicated computer is used for anything financial because I try to keep it updated and off when not in use. Obviously never trust calls or emails from suspect sources. As you know, let your cursor hoover over the email senders name to see what scammer is really emailing you. For calls, you can always find and call the real number back, like to your bank, broker, SS, etc. And if you are in your 70s+ and riding around on your scooter, don't believe it when a 30-year-old new acquaintance tells you how much she is in love with you. Both my brother-in-law and guy down the street fell for that and lost everything. |
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