topic TurboTax can help taxpayers understnad the Tax Reform bill's impact in Get your taxes done using TurboTax

TurboTax can help taxpayers understnad the Tax Reform bill's impact

mark35 — Thu, 06 Jun 2019 13:44:12 GMT

I think it would be a great service to our country and to your own customers. and great company promotion. Make a "tax reform" version of the 2016 personal tax return software that reflects the Senate version of the Tax Reform bill. Then set it up so that your customers can load their 2016 data into it to recalculate their taxes based on it. Since almost all of the provisions are repeals of deductions or adjustments to current deductions, users shouldn't have to enter any new data. You might have to generate a few new questions. I don't know. Anyway, put a big disclaimer on it since the law will undoubtedly change before final, and their 2018 finances will be different. It's one thing to look as general averages of the effects of the bill on categories of taxpayers. Knowing exactly how it would impact you personally is much more effective.

There are costs involved in programming something like th...

SweetieJean — Thu, 06 Jun 2019 13:44:14 GMT

There are costs involved in programming something like this, and no tax bill has yet been signed into law.

I did not say it wouldn't cost money. TurboTax spends mil...

mark35 — Thu, 06 Jun 2019 13:44:15 GMT

I did not say it wouldn't cost money. TurboTax spends millions I am sure on advertising. This would be great advertising. And help millions of taxpayers understand what their government is doing to the tax code.

For the most part, they haven't even updated the 2017 sof...

TaxGuyBill — Thu, 06 Jun 2019 13:44:17 GMT

For the most part, they haven't even updated the 2017 software to show 2017 numbers (it mostly is using 2016 numbers). There is no way they are going to hire a bunch of temporary tax-gurus and programmers to create a new program to analyze a law that MIGHT happen.

If you are concerned about how it is going to affect you, I recommend going to a tax professional that is up-to-date with the current bill.