Do You Do Your Own Taxes?
This weekend I’ve blocked off Sunday to finally get my taxes DONE. I’m embarrassed to admit that this is only the second year that I’ve prepared my own taxes. In the past my family’s accountant graciously tacked on my paperwork for a small fee. But last year I was cut off.
For those of you considering doing your own the first time, here are several online tax software options to choose from, and the pros and cons of each.
If you do prepare you own taxes, do you use software or do you brave the forms and jargon on your own? I’d love to know. (And don’t forget to check our checklist of commonly overlooked tax deductions.)
I do my own taxes using the forms, since I don’t really have much of any deductions (no home ownership, etc.) Even the simplest forms are confusing though. I would pay someone to prepare the forms for me if I had property, had to fill out additional schedules, etc.
My taxes aren’t complicated either (just some W2s and 1099′s), so I do both. I use the free edition of Turbo Tax to check my paper copies, which I file to look at next year as reference for what I did. If I had moved part way through the year, bought a house, and had a family, I’d probably pay someone to do my taxes for me. My employer provides a service where I can get tax consultation for free, so I’d explore that option as well.
The IRS website gives a list of suggestions for free tax sites based on information you input. . . . I usually use the same site each year. It does all the calculations, you just have to input the forms and answer the questions.