TARGET 8: Which tax prep service gets the biggest refund?

2 years 9 months 2 weeks ago Tuesday, February 24 2015 Feb 24, 2015 Tuesday, February 24, 2015 8:19:00 PM CST February 24, 2015 in Target 8
By: Hannah Shaw, KOMU 8 Reporter
loading

COLUMBIA - The commercials are all too common this time of year: Tax services promising to get you your millions and billions back. 

With tax season right around the corner, Target 8 investigators decided to take a look into with tax service can get you the biggest refund.

Target 8 investigators put four different tax services to the test: Turbo Tax, Tax Act, and H&R Block online, and Accounting Plus in Columbia.

Turbo Tax, Tax Act and Accounting Plus were all able to provide the same refund for a "fictional" family created by KOMU 8 to reflect a typical household. H&R Block got the family $2 less than its competitors. 

The fictional family had the same income as the average household income for Missouri four-person families. 

Accountants said with traditional W-2s and standard deductions, each tax provider should be able to provide the same refund; however, there are deductions that can complicate the process. 

"To me when one accountant versus another can get you more or an accountant can get you more than you can get yourself is when you're self-employed or have itemized deductions," Senior Tax Preparer Samantha Dent said. 

In these cases, Dent recommends visiting a tax provider who is knowledgeable on all the ever-changing tax rules. 

"A lot of times with a business you have so many expenses and either your method tracking wasn't very good so you miss out on deductions or you think 'oh, that's not deductable' and it really is," Dent said. 

For those who own their own business, Dent said record-keeping is the most important step toward maximizing your deduction.

"Let's say you are paying us to do your books, you're going to get a lot better deduction then if you just have a pile of receipts," Dent said. 

 

More News

Grid
List
GIRARD, Kan. (AP) — Authorities are investigating the death of a man whose body was found under a rural southeast... More >>
38 minutes ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 9:43:00 AM CST December 15, 2017 in News
OLATHE, Kan. (AP) — A homeless man who told police he dismembered his wife in a Missouri hotel room then... More >>
40 minutes ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 9:40:17 AM CST December 15, 2017 in News
COLUMBIA - The trial date for a man charged in connection with a 2002 rape case has been set for... More >>
1 hour ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 8:33:00 AM CST December 15, 2017 in News
COLUMBIA - A Missouri basketball player and a former Mizzou student have teamed up to start a nonprofit aimed at... More >>
2 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 8:15:00 AM CST December 15, 2017 in News
COLUMBIA - The Columbia Chamber of Commerce is advocating for a full functioning Hyperloop to come to Missouri. After... More >>
6 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 3:32:00 AM CST December 15, 2017 in News
COLUMBIA – More than 2,300 students will receive degrees from The University of Missouri this weekend, which means heavy traffic... More >>
8 hours ago Friday, December 15 2017 Dec 15, 2017 Friday, December 15, 2017 2:20:00 AM CST December 15, 2017 in News
ST. LOUIS (AP) — Kevin Roy scored twice and John Gibson made 29 saves as the Anaheim Ducks defeated the... More >>
12 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 10:20:39 PM CST December 14, 2017 in Sports
COLUMBIA - Iron Tiger Tattoo parlor in downtown Columbia mops its floors nearly three times a day. It didn’t use... More >>
12 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 9:56:00 PM CST December 14, 2017 in Target 8
CAMDENTON - The Missouri Department of Natural Resources recommended an old manufacturer in Camdenton as a Superfund site. Money... More >>
13 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 8:30:00 PM CST December 14, 2017 in News
VERSAILLES - Prosecutors filed charges against three employees of the Morgan County Jail on Monday, including a nurse accused of... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:50:00 PM CST December 14, 2017 in News
FULTON - People who are preparing to travel for the holidays are automatically at risk for robberies, road issues, and... More >>
14 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:25:00 PM CST December 14, 2017 in News
JEFFERSON CITY (AP) — The search for Missouri's next top education official has started. The State Board of Education... More >>
16 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:13:24 PM CST December 14, 2017 in News
MOBERLY - Fire and law enforcement officers from three counties received radiological training Thursday at the Moberly Fire Department. ... More >>
16 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:09:00 PM CST December 14, 2017 in News
COLUMBIA - Here is the latest on a threat to Moberly Area Community College's Columbia campus: 8:11 a.m. Friday... More >>
17 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 5:00:00 PM CST December 14, 2017 in News
UPDATE: Prosecutors have charged Monquail Williams with assault and domestic assault following Thursday's stabbings. Authorities took Williams into custody... More >>
17 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:47:00 PM CST December 14, 2017 in News
COLUMBIA - The City of Columbia has new aid in fighting snowy roads this with the help of its new... More >>
18 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:04:00 PM CST December 14, 2017 in News
AUDRAIN COUNTY – One Missouri farmer is righting his wrong following a pig waste leakage into a nearby creek. ... More >>
18 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:45:00 PM CST December 14, 2017 in News
JEFFERSON CITY - Authorities are investigating a Wednesday night shooting which injured a 19-year-old Jefferson City resident, police said in... More >>
18 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 3:37:00 PM CST December 14, 2017 in News
Columbia, MO
Broken Clouds 37°
11am 40°
12pm 42°
1pm 42°
2pm 43°

Select a station to view its upcoming schedule:

Coming Up Next

10:00a
Today with Kathie Lee & Hoda
11:00a
Rachael Ray
12:00p
KOMU 8 News @ Noon
10:00a
Jerry Springer
11:00a
Jerry Springer
12:00p
Jerry Springer

Tonight's Schedule

7:00p
Blindspot
8:00p
Dateline NBC
7:00p
The 86th Annual Hollywood Christmas Parade
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld