Do Your Own Taxes with Online Software

Do Your Own Taxes with Online Software
By: Jeremy LaDart

Taxes are so complicated that it has become a year-round job just to keep up. Everything you do throughout the year has an impact on your taxes. Did you get married? Did you buy/sell a home? Did you have children? Did you change jobs? Did you put any money into a retirement account? Did you donate to charity? And on..and on..and on.

Thousands and thousands of laws for Federal filing alone, but in fact State tax codes are often even more cumbersome, and everyone wants to get your business. Tax preparation has become a multi-billion dollar a year business in this country. You have to get all the paperwork together and spend several hours of your time in an office just to pay someone else $100 to $300.

Luckily, technology has caught on and can save you both time and money. New online and downloadable software has become so advanced that anyone can use it. Yes, ANYONE.

BENEFITS OF DO IT YOURSELF TAX SOFTWARE

- Fast, easy and accurate
- Do it from the comfort of your own home
- Offers many different options
- Very user friendly
- Costs 50% to 90% less than going to a local preparer
- Most are guaranteed

HOW TO USE TAX SOFTWARE

- Gather up all of the paperwork you would normally bring to a professional
o W-2 (from employer)
o 1099 (shows interest)
o Receipts for charitable contributions
o Doctors receipts
o Etc.
- Find a reputable company
- Purchase the software (you will have the option of doing it online or downloading software)
- Follow the easy step-by-step instructions
- Mail-in or e-file your forms

You are probably thinking it's too good to be true, but it's not. It's actually quit brilliant. The biggest expense for tax preparation companies is overhead (office, office supplies, desks, computers, etc.) and labor. By giving you the power to do your own taxes these companies have virtually cut their costs up to 80% and are passing the savings on to you.