The first time you do your own taxes is often a nerve-wracking experience. You worry that you are going to miss something and get hit with a steep penalty from the IRS. Fortunately, you can use www.TurboTax.com to file your taxes yourself with confidence. Follow the tips below to learn How To File Your Taxes on TurboTax.
1. Gather Your Paperwork. Getting your financial paperwork, including your W-2 and 1099 forms, together before working with TurboTax is a critical first step. Being organized at the start will save you a lot of time as you proceed
2. Check the Cost. If your taxes are simple and you have only W-2 forms and bank interest statements to include, you may be able to file for free. Use TurboTax to determine whether or not you qualify for free filing by answering some simple questions as prompted by the program.
3. File Your State Taxes. Federal taxes get most of the attention in the media, but you also need to file state taxes. Fortunately, TurboTax transfers all of your details to the appropriate state tax forms to save you time.
4. File Electronically. TurboTax 2015-2021 lets you quickly and easily file your taxes online without needing to print and mail forms. The program walks you through deductions, credits and obligations to help you get the maximum refund to which you are entitled without risking penalties. Sounds like the perfect solution for many families and individuals across the country.
Most taxpayers already know about TurboTax Free Tax Filing, but in case you have not, then you need to find a way to learn more about the software as soon as possible. The free version of the software will save you a lot of money in accounting fees while making tax filing easy. It will help you calculate how much you are required to pay as well as the tax refund owed to you by the IRS. There are federal filing options and state filing options that send the return to the IRS for you.
The main disadvantage of hiring a tax accountant to do your taxes is that you will be forced to pay a lot of money for the service and might get some good advise on how to file yours taxes next year. The worst thing about it is that these professionals never give a quote in advance; they complete the work then quote an obscene amount. Charging for every Schedule D transaction makes you never want to trade a stock again in your life.
There are many other reasons why you should choose TurboTax Free Tax Filing. First and foremost, you will never have to worry about finding a professional to do your taxes for you. Secondly, the software enables you to file accurate returns even when your tax situation is somewhat complicated, and you can do that from the comfort of your own home. If you need a more sophisticated version for your business, you can easily upgrade your software, but the free version is absolutely fine for the vast majority of taxpayers. With all these offerings, it is easy to see why Turbo Tax is an industry leader.
Other tax programs also offer free tax filing options, including Tax Slayer, H&R Block and TaxAct. Almost always, there is an income limit to get the free version and you’ll need to pay for any state or city tax returns you need to file.