You have to file your tax documents every year. But you don’t have to spend a lot of money to do it.
If your financial situation is relatively simple, it won’t be too hard to save a bundle on filing your taxes:
Use a free online program.
You can use online programs like H&R Block, TurboTax, or TaxAct and efile your federal tax return for free. Your state tax preparation will cost just a little bit more (usually around $20 or $30). These online options are not only cheap, they’re very easy to use if your financial situation isn’t overly complicated.
Shop for deals.
Many discount retailers like Office Depot, Amazon, and Walmart offer deep discounts on tax preparation software. Deals may include getting free software after mail-in rebate, or receiving a bonus item with your tax prep software purchase. Check to see if there are any special deals on tax preparation services at your local Jackson-Hewitt. Some places may offer discounts to those who file early.
Head to the library.
Many libraries and community centers around the country offer free tax preparation services through the VITA (Volunteer Income Tax Assistance) program. Trained volunteers will help you figure out your taxes if you’ve made less than $50,000. In addition, free volunteer tax preparation for seniors is available through AARP, and to members of the military through the Armed Forces Tax Council.
Trade services with a friend.
Do you have a trusted numbers-savvy buddy? Perhaps they’d be willing to do your tax prep work in exchange for babysitting or lawnmowing services. Make sure you trust this person completely and follow through on your promises… You don’t want a “mistake” to cost you an “audit.”
Of course, if your financial situation is complicated (for example, you own your own business), then find a trusted professional tax preparer or accountant to help. It may cost more, but you’ll gain peace of mind by working with someone trained in handling more difficult re
My best advice: Get it over with. The sooner you get your taxes prepared, the sooner you can either enjoy the refund, or get working on paying what you owe.
How do you save money when getting your taxes done?
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