It might be a little early, but has anyone here filed their taxes yet? How do you typically file your taxes?
It’s not uncommon for me to have a few miscellaneous tax forms arrive in the mail through the end of February, so I usually wait until later in March or early April to get started.
Historically, I’ve used TurboTax to file for myself. However, the past two years I’ve dropped off my tax docs at a local Jackson Hewitt office with the idea it’d take the hassle off of my plate. However, both times ended up being more a headache than I had anticipated, and it was MORE EXPENSIVE to file with Jackson Hewitt than with TurboxTax.
I’ve used Taxfreeusa.com for the past 2 or 3 years. It walks you through the components just like turbo tax except it truly is free. I kept waiting for it to charge me based on the various credits I’m eligible for but it never did. I should note there is a nominal charge for state taxes ($14?) but that doesn’t apply to where I live.
I have filed electronically for myself just about since it was an option. One year I went with H&R (SO EXPENSIVE) because I wanted to be sure I was catching everything, and I was. I love doing it online- it walks you through and it’s simple. Right now I’m using Turbo Tax; I used to use TaxAct because it was free but now they charge as well. (Thanks for the tip, @reach.your.goals ! I will check that out.)
I will probably file at the beginning of March. I am still waiting for a few forms to be ready from my student loan company. This is my first year ever filing jointly with someone, so I’m reviewing it about 100 times! Also this year is my son’s first year to file- and we will be doing it together.
Yes it definitely is free as a couple. I haven’t found anything to cause it not to be free. I’ve had 401k rollovers, child tax credit, child care credit, HSA distributions, small business schedule C, estimated tax payments… it does it all without charging.
Our neighbor has volunteered to file our taxes via Turbo Tax, I get the impression she wants to know how much we are making and how much tax we are paying. No thanks.
We have out taxes done through a company we have used for many years, not cheap, but they will go to court for us if needed.
One good thing with this company, is if you recommend anyone and they have their taxes done there, we’ll get a kickback gift card for $25. Just a little incentive.
I do taxes as a profession. 36 years of experience. Most of my customers are remote. I love the business, I drink the tax Kool aid! my favorite is attending the IRS convention (yes, I am sick)
We used Jackson Hewitt for the first time last year and got some type of new customer discount which was a pleasant surprise… We’ll try them again this year. Hopefully. we’ll file before the end of the month.
I used to use an accountant to file my taxes after dealing with an IRS penalty caused by filing a joint tax return with my ex-husband who failed to pay taxes during the year which resulted in my earnings being penalized for their misfiling. Since then I have filed my own taxes and want my forms reviewed throughly and have the correct taxes taken out of any income I receive. When my accountant got too sick to do the taxes preparation, I decided to try using TurboTax/Intuit, the paid version, which also gives me credit reporting and tax consulting services for the entire year. The first time I did it, was the most time consuming because I had to actually post the information from my forms ( W4 and 1099). It was a learning experience but very helpful in learning whether the correct tax was taken out. You will be surprised how some employees don’t take the tax out correctly for any state or local tax because they don’t start from $1 and up but from a higher amount but meanwhile you are expected to pay tax on every dollar earned. (“pleasure of working on the books” . I also learned that filing state tax forms is not free and required even when you have no income to report as tax liable because you have to file the form to be acknowledged as a full time resident. ( referring to NYS and any other state with that requirement).
After the first year of filing using TurboTax/Intuit it was much easier to fill in the form because all I had to do was review and adjust the amounts. I also got to see how much delay is made to get those forms needed which is totally annoying because as of the first week in January all the information is available but delays are made because of administrative issues. I don’t feel that one should have to wait until February for those forms.
I am satisfied with using TurboTax/ Intuit as it is almost the same as dealing with an accountant and I get explanations for each line needed to file taxes. I find it especially helpful since most if not all my income is retirement income which is taxed differently than regular income in liability despite not having a 6 figure income for the federal government tax. The state tax form is required and is not free and if I don’t file it each year I would be penalized for not filing. That’s what I get for having income that is recorded on the books. The Secure Act 2.0 effected the timing of my RMD but I was able to ask questions about proper management of taxes to be paid out of whatever I receive to cover the tax liability when I eventually start it. ( Another confusing point)
My attitude towards filing taxes is that I don’t owe taxes and I only pay what I have to and no more. So using a paid service is worth not being penalized.
I take my taxes to a local accountant. While I am sure I could do it myself, I like to know that someone is looking at it and getting me all the deductions possible and choosing the best scenario. I pay $200, but I think it is worth it in the case of an IRS Audit.
