Tax time!

by Kelly on April 3, 2009

in taxes

If you haven’t already done your taxes, this may be the weekend you plan to tackle them.

You don’t need to be an accountant or a math whiz to file your taxes. In fact I would recommend you only call in a pro if your taxes are complicated. Examples: you own a business, are claiming net loss/gains, have rental properties, or just plain don’t want to do them. (your time may be worth more elsewhere)

I am not a fan of places that offer “refund loans” or to “get your refund NOW!!” They charge you ridiculous fees. They also have been known to make mistakes, and personally I would rather know the numbers myself if I do end up with an audit.

My preferred way to file is Turbo Tax. Yes it has its’ issues, like when they overcharged me last year (they refunded the total amount so I got to file for free), but it’s still an easy to use and understand program for just about anyone with basic computer skills.

A reminder that there are FREE tax filing options if you make less than $56,000. List on the IRS site here. I believe that Turbo Tax’s Free filing program has no income requirements, though you can only submit a 1040EZ.

If you are like us and itemize your deductions you still have to pay, but you can look for discounts at a few places. Try Costco, your credit union or bank, or your credit card company.

I only file our federal taxes through Turbo Tax. I do not file the state return since it is always even (we never owe, they never owe us). It’s not worth the fee to save me 5 minutes online.

In the past I have used Turbo Tax to go through my return after I did it by hand to look for mistakes and then filed it in person. (my mother-in-law used to work for the IRS) Since we no longer have that connection to the IRS I use Turbo Tax and submit my routing and bank account numbers so that I get the refund as soon as possible. It’s worth the $27 I spent this year. :)

I still have to submit my PA and local taxes, but it will take me less than 10 minutes since I have all the info on hand from my Federal Return.

Have you done your taxes yet? Do you plan to file online?

Kelly

For more on this topic read:

it’s tax time!

how we used our refund

how to: get a raise

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{ 2 comments… read them below or add one }

Liz Muirhead April 6, 2009 at 12:40 pm

You can use Tax Act Basic for free regardless of income. It’s a great option if your tax situation isn’t that complex and you don’t need a state return done using software.

We have pretty complicated state returns, and I’ve found that it’s actually easier to do them on the states’ websites than it is to do them in TurboTax or TaxCut (never tried TaxAct’s state program). I saved myself about 2 hours once I figured this out.

So when I do buy tax-prep software, I always buy the basic edition that doesn’t include a “free state program.” Works for me!

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Cathy April 3, 2009 at 2:09 pm

If possible and your filing is not too complicated, I would try a couple of different sources for doing your taxes. I filled in my information using HR Block free online program, and the commercial Tax Cut pro. I ended up getting $500 more with Tax Cut pro. I sent that one in! IRS deposited my refund, so I’m guessing they thought it was ok. :)

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