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Tax Software Quick Books or Turbo Tax

Tax Software Quick Books or Turbo Tax

Old Apr 18th 2008, 4:45 am
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Default Tax Software Quick Books or Turbo Tax

Not sure if this is the right place to post.

I'm about to take over an ice cream / sandwich shop and wanted to know if there are any small business owners who can comment on which software is better?

My CPA has praised QuickBooks but the software seems ridiculously expensive (about $500). She said it's good because I can email her and she can update and amend things "live".

I'm not too bothered about the cost of it, but don't want to spend money on something that is really just a glorified excel spreadsheet (which is what I'm used to using for all my accounts in the UK).

Thanks
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Old Apr 18th 2008, 7:09 am
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Default Re: Tax Software Quick Books or Turbo Tax

I had Quick Books in the past....loved it.

I just purchased Quick Books Pro 2008 for $120. at costco...so check prices...I have been told that good deals can be had at egghead.com too so try that as well.

D
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Old Apr 18th 2008, 10:37 am
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Default Re: Tax Software Quick Books or Turbo Tax

Thanks for the tips. I am looking forward to getting my business license so I can shop at the wonder that is Costco. I had forgotten they do things other than food! $120 sounds good vs $500 at Office rip off Depot.
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Old Apr 18th 2008, 12:20 pm
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Default Re: Tax Software Quick Books or Turbo Tax

This last tax year I was self employed as a consultant. Used Turbo Tax online Home and Business edition - had no problems whatsoever. Cost, after my discount from Vanguard, was about $60.

But I'm basically a one man band with very little in the way of assets; not sure how it'd be for use as a small business owner.

Are they not two different products, anyway? I thought Quickbooks was more your accounting and record keeping software, and Turbotax is for filing tax returns. In fact, I think you can import quickbooks info into turbotax, as they are made by the same company.
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Old Apr 18th 2008, 12:27 pm
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Default Re: Tax Software Quick Books or Turbo Tax

Originally Posted by Bitzi View Post
Thanks for the tips. I am looking forward to getting my business license so I can shop at the wonder that is Costco. I had forgotten they do things other than food! $120 sounds good vs $500 at Office rip off Depot.
You don't need a business license to shop at Costco.
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Old Apr 18th 2008, 2:15 pm
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Default Re: Tax Software Quick Books or Turbo Tax

I became a certified Quickbooks user last year after taking their free online course. It's a very good software and I would definitely recommend that over excel spreadsheets as an accountant myself (I do have some clients in excel spreadsheets but they're a nightmare).
And it's $50 to join Costco and that's it. As Jerseygirl said no business licence required. They also have an Amex which gives you free Costco membership and gets you cashback on gas, eating out and travel.
You should also definitely check out the Office Depot type places as I got Quicken for free last year with a rebate deal they were doing. If you look around for a few weeks you should find something.
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Old Apr 18th 2008, 2:25 pm
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Default Re: Tax Software Quick Books or Turbo Tax

Originally Posted by chicagojlo View Post
I became a certified Quickbooks user last year after taking their free online course. It's a very good software and I would definitely recommend that over excel spreadsheets as an accountant myself (I do have some clients in excel spreadsheets but they're a nightmare).
And it's $50 to join Costco and that's it. As Jerseygirl said no business licence required. They also have an Amex which gives you free Costco membership and gets you cashback on gas, eating out and travel.
You should also definitely check out the Office Depot type places as I got Quicken for free last year with a rebate deal they were doing. If you look around for a few weeks you should find something.
Good point....I have a Costco Amex card...got a cheque from them a couple of months ago...it was in 4 figures.
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Old Apr 18th 2008, 2:37 pm
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Default Re: Tax Software Quick Books or Turbo Tax

4 figures! Mine had 4 too but there was a big old dot in the middle of them. Only had it a few months though...
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Old Apr 18th 2008, 4:17 pm
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Default Re: Tax Software Quick Books or Turbo Tax

Originally Posted by Jerseygirl View Post
You don't need a business license to shop at Costco.
Oh, I kind of realized that (just pay joining fee or get Amex card etc), but I need it to then get my resale certificate thing which I think means I don't have to pay sales tax for all my resale items.

Thanks everyone for your advice. I think I will definitely shop around for a good deal and go with QuickBooks. I'm going to have enough on my plate what with learning the ropes in my ice cream/cafe and want to make the accounting as simple as possible.
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Old Apr 18th 2008, 4:24 pm
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Default Re: Tax Software Quick Books or Turbo Tax

Originally Posted by Dan725 View Post
This last tax year I was self employed as a consultant. Used Turbo Tax online Home and Business edition - had no problems whatsoever. Cost, after my discount from Vanguard, was about $60.

But I'm basically a one man band with very little in the way of assets; not sure how it'd be for use as a small business owner.

Are they not two different products, anyway? I thought Quickbooks was more your accounting and record keeping software, and Turbotax is for filing tax returns. In fact, I think you can import quickbooks info into turbotax, as they are made by the same company.
I use Quickbooks for accounting and Turbotax for filing taxes online...they make it quite easy.
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Old Apr 18th 2008, 10:18 pm
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Default Re: Tax Software Quick Books or Turbo Tax

Originally Posted by ddagmar View Post
I had Quick Books in the past....loved it.

I just purchased Quick Books Pro 2008 for $120. at costco...so check prices...I have been told that good deals can be had at egghead.com too so try that as well.

D
wrong egg!!!!! I meant to say look at www.newegg.com for deals not egghead..oooppsseee!!!
D.
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