64 votes
Accepted

In the USA, why is the Free File software only available for people earning less than $62k?

It is very helpful to understand that Free File is not actually "by" the US Internal Revenue Service (IRS). The IRS does indeed offer access to the program through their website, but Free File is ...
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  • 11.6k
26 votes

In the USA, why is the Free File software only available for people earning less than $62k?

Free File is not software by the IRS. Free File is actually a partnership between the IRS and the Free File Alliance, a group of tax software companies. The software companies have all agreed to ...
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16 votes

Why use accounting software like Quickbooks instead of Excel spreadsheets?

I would say that all of the reasons you list in your question are valid, and I would add the following... You are in the landscaping business, not the accounting business. If you manage everything in ...
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  • 3,795
13 votes
Accepted

What's the point of Acorn the app?

Yes, that's all they do. It's effectively an "automatic saving/investing" program. Bank of America does something similar with "Keep the Change", transferring the leftovers from checking to savings. ...
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  • 35k
13 votes
Accepted

How to account for months lapse in tracking finances

I'd say you have a couple options that differ by the amount of time required. Option 1: Export your checking/credit card ledgers from your banks for the unaccounted for periods you mention then ...
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  • 1,408
10 votes

How to delete multiple transactions at once in GnuCash?

As a workaround I made a shortcut key for deleting transactions. With GnuCash closed, I modified the accelerator-map file. In GnuCash 2.6 and older: C:\Users\username\.gnu-cash\accelerator-map In ...
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  • 313
8 votes
Accepted

Best personal finance strategy to control my balance

The key to understanding where your money is going is to budget. Rather than tracking your spending after the fact, budgeting lets you decide up front what you want to spend your money on. This can ...
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8 votes
Accepted

Why would an error in sales tax not affect IRS tax due?

The state income/sales tax deduction is an itemized deduction, located on Schedule A. If this taxpayer didn't have enough deductions, the software would have chosen the standard deduction instead. If ...
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7 votes
Accepted

How to start day-trading? Any advice about software for beginner?

Maybe learn a bit more before plunging in with your own money, buy some good books on the subject and on technical analysis. Open up a virtual account and test your strategies first, develop a trading ...
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  • 20.8k
7 votes

In the USA, why is the Free File software only available for people earning less than $62k?

Regardless of the source of the software (though certainly good to know), there are practical limits to the IRS 1040EZ form. This simplified tax form is not appropriate for use once you reach a ...
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7 votes

Why do I need software to e-file?

Free File Fillable Forms is the official way to submit your tax form for free electronically to the IRS. If you already have a PDF of your 1040 filled out, you can use Free File Fillable Forms to ...
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6 votes

Why use accounting software like Quickbooks instead of Excel spreadsheets?

I think your reasons are good. Fundamentally accounting software is built to ensure you record your accounting data effectively with minimal mistakes and good auditing. But you still need to use the ...
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  • 163
6 votes
Accepted

Paying tax when selling software with bitcoin

Publication 519 discusses the filing requirements for resident and Nonresident aliens. If your income is subject to U.S. tax, you will owe income tax based on the dollar value of the bitcoin when you ...
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  • 2,799
5 votes
Accepted

For an individual, what's the point of using a money management tool like GNUCash?

It comes down to the resolution you want to have on your personal finances. A package like GNUCash allows you to easily answer questions like "Exactly how much do I spend on interest per month/year/...
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  • 1,408
5 votes

How to delete multiple transactions at once in GnuCash?

As a follow-up to this very useful info, on a Windows PC, the file is located in: C:\Users\UserName\AppData\Roaming\GnuCash\accelerator-map The way the edited line is displayed in the above answer ...
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  • 51
5 votes
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Off-the-shelf Computer Software Depreciation

In contracting Non-off-the-shelf software is software that has been modified or developed for you. Microsoft office is off the shelf. Paying a company to develop an add-on to MS office would not be ...
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4 votes

How to start day-trading? Any advice about software for beginner?

$1000 is certainly not enough cash to begin to day trade with. Brokerage will eat your bankroll, even if you do manage to do well. If you can get cheap brokerage (say $5, which is lower than any I'...
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  • 2,421
4 votes
Accepted

Am I calculating depreciation correctly?

second column doesn't equal 1.0. Year 2014 should be 0.1152 of 314. Yes, year 4 and 5 will have same depreciation expense amounts. Tax Year % Amount of Depreciation 2010 20.00% 314 ...
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  • 379
4 votes
Accepted

Freemium Model In-App Purchases Sales Tax

It seems to me that an in app upgrade to ad free is a prewritten change to the software license and would effectively constitute an upgrade of prewritten software. Below is what seem to be the ...
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  • 48.6k
4 votes
Accepted

How can we get a hold of our finances again, with much less time to spend on accounting and budgeting, due to the arrival of our child?

I have also tried Mvelopes in the past, and my experiences match yours. I currently use the desktop version of YNAB:You Need a Budget (YNAB 4), and I like it much better. Where we failed after a ...
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4 votes

How to account for months lapse in tracking finances

You can take a shortcut and make a few cumulative transactions, maybe just estimate how much of your spending landed in each of your budget categories, but you will lose a lot of the value that you ...
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4 votes

Does there exist any insurance concept like liability insurance for mobile/computer application developers?

Insurance for professional mistakes is called errors and omissions insurance, or E&O. Searching reveals a number of firms offering technology errors and omissions insurance. The International ...
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  • 2,477
3 votes

Best personal finance strategy to control my balance

I started storing and summing all my receipts, bills, etc. It has the advantage of letting me separate expenses by category, but it's messy and it takes a long time. It sounds from this like you are ...
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  • 4,559
3 votes

Why use accounting software like Quickbooks instead of Excel spreadsheets?

I would add to your reasons: QuickBooks makes it easy to send statements or invoices to customers that request them QuickBooks has a number of built in reports that may give you insight into how your ...
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  • 12.1k
3 votes

Asset allocation software: Application or tool to help me rebalance my investment portfolio?

I had the same issue and the calculators I found online weren't easy to understand or use. After starting with a spreadsheet I then created a Rebalancing calculator online. You can evaluate ...
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  • 131
3 votes
Accepted

(UK) Using 'Money Dashboard' is in breach of TSB's T&Cs

You need to consult a lawyer in your area. Generally speaking though, if you breach the T&C, they don't have to follow them either, which means that whatever they were responsible for in those ...
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  • 2,855
3 votes

For an individual, what's the point of using a money management tool like GNUCash?

As asked previous in the week, there is a big difference between budgeting and expense tracking. Using software, like GNUCash, allows one to track their spending. A budget is a plan, the tracking ...
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  • 75k
3 votes

What are the relationships between TaxACT and Republic Bank?

What are the relationships between TaxACT and Republic Bank? TaxAct appears to use Republic Bank to do all the banking associated with your tax refund. TaxAct also advertises refund transfers and ...
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  • 6,849
3 votes

When you e-file your taxes with TurboTax, does Intuit get a copy of your personal information?

If you are using the Turbotax website to do your taxes, Intuit has (and keeps) full records of everything. It allows you to view previous years' data in full, download previous tax returns, etc. If ...
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  • 5,077
3 votes
Accepted

When you e-file your taxes with TurboTax, does Intuit get a copy of your personal information?

Yes, they keep a copy of your entire tax return. Their software license (license.rtf) says this: Electronic Filing Services. If you choose to file your return electronically, your tax return will be ...
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  • 146

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