Save Money By Doing Your Own Taxes
Wednesday, March 26th, 2008April 15th, 2008, the federal tax filing deadline, is rapidly approaching.
Every year, I’m surprised to find out how many fellow Americans pay accountants or tax preparation companies to file their taxes for them. If you use a professional service, you still need to provide them with all of your paperwork. In my opinion, getting the paperwork together is half the effort of filing taxes; therefore, I do not think it makes sense to pay someone else to file for you unless you find yourself in an extraordinarily complicated situation.
Many other people, who do not use a professional tax preparation service, shell out money every year for tax preparation software like Intuit’s TurboTax.
In fact, neither paying someone to do your taxes nor buying tax preparation software is necessary. For many years, I did my own taxes the old-fashioned way with paper forms and a pen. My father still does his taxes that way.
However, if you’re looking for an easier way to do your taxes yourself, you can actually file your federal taxes online for free. My wife told me about a site called taxactonline.com, which provides an adequate solution for most taxpayers to file online completely free of charge. The site will try to upsell you a more deluxe version of itself and also offer to file your state taxes for a small fee, but you can easily decline the upgrades if desired.
I highly recommend the taxactonline.com solution for those wanting to save money by filing their own taxes.