Tuesday, January 22, 2013

Tax Time!!

With the IRS putting off the first day in which you can file, there is a lot to consider as your personal tax time comes closer and closer!  The IRS has stated that they will open e-file to the public on Jan. 31st and that date is almost here!  If you don't already do your taxes....using a FREE program is the best way to save several hundreds of dollars!  I use a taxact.com because it free for EVERYONE!  (Places like TurboTax and HR Block Online charge you if you require a Schedule C and other such forms)  I used to go to my local tax office, have them do my taxes for me and get charged up to $800 a year!  That's insane!  If you have a bank account and you are getting a return....the wait time is about 10 days on average!  You can wait 10 days to have all of your money instead of paying someone for a rapid return....right?  

Doing your own taxes is so much easier these days and websites like TaxAct make it that much easier.  All you have to do is answer their questions, input your information and click "Next"!  If you only have W-2's it is a breeze and for you small business owners.....you will simply need your end of year reports.  They will double check all your potential deductions and that is a super bonus for me!

To file your federal return, it is completely FREE!  Who doesn't like Free?  They will also file your state for you....but that does cost money, no matter where you go.  When it comes to your state return...I suggest doing your own paper file.  You can take the information right off of your federal return (that you will print when the online service is done filling in the blanks for you!).

Tax time shouldn't be complicated or stressful!  It is the final thing to closing out the year before....and for all my frugal gals out there....do it for FREE!  I highly recommend TaxAct....I have used them for years but, shop around, read up on the the other companies offering the service and check out the IRS's website.  TaxAct also has a free Ap that allows you to track your return as it gets approved by the IRS and has links to check on your return status!

If you have any tax related questions, feel free to ask me.....I have been doing taxes for a long enough time...if I don't know the answer to your question...I know where to look for it!

~Happy Filing!

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