So, which are you more afraid of: Taxes or public speaking?
It’s a toss-up for me. Fortunately, my fears of tax preparation are lessened by the vast array of inexpensive tax preparation options available to me.
Check out these ways to save money when preparing your taxes:
Visit your public library. Many libraries offer free tax preparation services for low income individuals and families. You can pick up tax forms while you’re there, too.
Use Free File. If your adjusted gross income is less than $56,000, you can prepare and file your federal taxes online for free. You’ll still have to file your state taxes – and for that, you may have to pay a fee, depending on what resources your state has available. Check out the IRS website for tax information and for how to use Free File.
Try TaxAct. TaxAct is free to use for filing your federal taxes. A more deluxe version and state filing is available for just $16.95.
Check out State Farm. If you’re a State Farm Online Banking Customer, you can access TurboTax Basic or Deluxe for Free. If you only have homeowners or car insurance through State Farm, you can use the TurboTaxFederal Free Edition for simple federal returns or save up to 25% on other TurboTax Products. Check out the details at State Farm.
Look at H & R Block TaxCut. You can complete your federal forms with e-filing for free with TaxCut. Other options start at 19.95. You’ll have to pay extra to file for your state.
Consider Turbo Tax. Turbo Tax will also let you figure your federal taxes and file for free. More extensive packages start at $29.95, and like everyone else, you’ll pay extra to file your state taxes.
Last year I used TaxCut and found it to be pretty simple to use. I’m not sure if I’ll stay in my comfort zone and use TaxCut again, or try something new this year.
What are your thoughts? Do you use online software to prepare your taxes? What do you recommend?