doing your own taxes?

[tarheel618]

A family member has always done my taxes for me but has recently passed away. I file a 1040 each year. Deductions 2 kids, student loan and child care.

It seems like I should be able to do the taxes myself because I don't have a lot of deductions.

Can anyone who does their own taxes offer any advice? It seems like the online programs walk you through the process. I don't know if it matters but I always filed a paper return.

Looking for some input

 

[havaneselover]

I use tax act. It's very straight forward if you are organized. Anything you have questions on you can find answers to online.

 

[hollypoast]

I've used Turbo Tax for years. One year our taxes was a bit more complicated. I had already entered all of the info into Turbo Tax but decided to go to a tax person to check my work and file. The tax professional came up with the exact same results that I had gotten with Turbo Tax... but it costed 10x more than Turbo Tax would have costed.

I'm sure you can do it.

 

[mockmom3]

I have used Tax Slayer for years. They walk you through the entire process. Very easy and quick.

 

[agavegirl1]

Simple returns lend themselves easily to any of the online "free" filing programs. The only caveats would be the security of the information, your own knowledge base (you are personally attesting to accuracy and therefore responsible for consequences of the errors), and any new credits or deductions to which you may be entitled which could be missed. If you want to file via paper, you can. The IRS (www.irs.gov) and your state's department of revenue will have fillable forms you can complete, print out and mail in with the appropriate documentation. Most taxpayer facing software is written to help you easily complete your return in simple to understand language.

Disclaimer: I am a professional tax preparer for a multinational company. My views presented here are my own.

 

[Jen and Ashwin]

I have been filing my own taxes for years using TurboTax. Its really simple and they enter most of my information from my previous year's tax return making it even faster. I filed this year with just a few hours work.

 

[afan]

I like TaxAct as well. It's easy, will explain things and it checks for errors when you are done. If you need to do a state return too it moves all of the necessary info from the federal to the state.

 

[DisMommyTX]

Try doing it yourself online. If you can't figure it out, or don't feel confident in your results, you can always change your mind and go to a professional. I would recommend TurboTax or Tax Act for a first-timer, as they seem to walk you through the process best.

 

[indimom]

I've use Turbo Tax and it's very simple and walks you through everything using regular language. I had a couple "extras" beyond our W2s and it was all very simple.

Like a PP said, you can run through the entire thing online and if you aren't happy with or don't trust your result, just change your mind and see an accountant. You don't pay to file until the entire thing is complete. And, like most websites, you go through a couple screens to complete the payment process, so it's not going to be charged without your knowledge.

Added bonus, it cost about 50% less than seeing an accountant.

 

[tarheel618]

Thanks I think Im going to try it. For those that submit electronically how do you know it goes through? Also, I have no state taxes so it is just a federal return

 

[momof2halls]

i have completed and filed out taxes online for years. I have always used hrblock.com and purchased the deluxe package so that most of our fields are pre-populated. It cost around $38 for federal but you are supported 100% by hrblock if the government was to question/audit your return. It is a very simple program that moved you from one section to the next with basic questions. When you finish imputing your information it checks your return for accuracy and them gives you the opportunity to schedule an appointment for a hrblock specialist to review your return in person. I have never done this. After that it tells you your return is ready to file and gives you the option if printing and mailing yoir return or allowing it to be processed electronically. If you choose electronic submission it does it then and will give you a confirmation number. Hrblock sends you text/email confirmations all along the way letting you know the status of your return. Dont be afraid to try the do it yourself methods. You will find it is so much easier doing it at home and as your schedule permits.

 

[tzolkin]

You can definitely do it using an online tax program. (I have been using TaxAct the last few years.)

I started doing my parents taxes when I was a teenager (to make sure I had everything done to complete the FAFSA for college). Those were on paper using the books for reference. Last year DH and I moved to another state, so we had federal, two states, moving, and business expenses. There really wasn't anything complicated about it.

Thanks I think Im going to try it. For those that submit electronically how do you know it goes through? Also, I have no state taxes so it is just a federal return

They send you an email confirmation. You can also check on both the software's website and the IRS website.

 

[bluezy]

We used to have a woman do our taxes every year. She was a corporate accountant who did personal taxes as a side business (for $20-35 depending on the form). When Turbo Tax came out, she started using that to do our taxes. We decided we could probably do them ourselves just as easily as she was doing them. So the next year we bought Turbo Tax and did them ourselves and haven't looked back. We have purchased land, built a house (2 separate years), had educational expenses, etc. and never had any problems using Turbo Tax. It really walks you through every step. Even my son who is self-employed uses Turbo Tax and doesn't have any problems. He did have someone double check his taxes the first year he did them with Turbo Tax because he had a lot of "odd" things to work around but the professional accountant came out with the exact same results as Turbo Tax.

 

[Shmily1]

Another Tax Slayer user. It is quicker to get your return back online and it is very easy to use and asks for specific information to make it easier. You can also call in to them if you have any questions while using the website.

 

[afan]

Thanks I think Im going to try it. For those that submit electronically how do you know it goes through? Also, I have no state taxes so it is just a federal return

You will get an email saying it's been submitted and they will email you as the process goes. There's also an IRS website that they should provide you the link to that you can use to track your refund once your return has been accepted.

Also, as far as fees. I know Tax Act is free for simple returns, which it sounds like yours will be. I have income from a rental and still only pay for my state return. I would go with one that offers a free federal return that walks you through the process well.

 

[jedijill]

I use Turbo Tax and I have more complicated returns with stock sales and when I had my rental home. Super easy and never any issues.

HTH

Jill in CO

 

[FlightlessDuck]

I used to do them by hand, but we used Tax Act the past two years. Two years ago, I started it by hand, but then we tried Tax Act. What's interesting was I apparently didn't understand the right way to deal with college tuition, because Tax Act put it in a different way than I thought I was supposed to, and we got more money back

 

[TippeeCanoe]

I used to do them by hand, but we used Tax Act the past two years. Two years ago, I started it by hand, but then we tried Tax Act. What's interesting was I apparently didn't understand the right way to deal with college tuition, because Tax Act put it in a different way than I thought I was supposed to, and we got more money back

Thanks for the recommendation. After getting fleeced for over $400 by an accountant last year , we're going to try and do it ourselves this year, even with college tuition and the settling of an estate.

 

[StephMK]

Another vote for TaxAct. I started using it after a recommendation here about 5 years ago. Very easy and I love how it fills in the information from the year before. Plus it compares returns at the end from the previous year so you can see if anything has drastically changed or been forgotten. Filing electronically is really easy and I just save a copy of our return to our computer (and save again to an external drive).

 

[msmama]

Piggy backing on this question - If I do my taxes using an online service and my form is submitted electronically, how do I pay if I owe? If I could put my taxes on a CC and earn some rewards, that might take some of the sting out!!

Or if I owe is it better to print them out and mail it in with a check?