After the excitement of the first of the year wears off, the thoughts of filing your taxes slowly creep in. But tax filing doesn’t have to be a nightmare.
With internet access, CPA firms, and endless resources to help you sort through your tax information, April 15th can just be another day on the calendar and not a dreaded deadline.
Here’s what you need to have ready before you sit down with your selected service to file your taxes according to the IRS:
- First determine if you are required to file a tax return
- What is your filing status?
- Are you married? etc.
- Do you qualify for a free tax return?
- This typically applies for people who make less than $54,000/year.
- Simplify your tax situation and select.
- Figure your tax and credits.
- Claim your dependents and exemptions
- Then select to file your taxes online or mail in a paper tax return
According to The Best Online, a website dedicated to ranking the best of the best for different services, they rank TurboTax as your go to online tax filing service.
Looking for great customer service? If you would prefer to work with an actual person they recommend visiting H&R Block for some hands on help from another human.
For another affordable option check out TaxAct. When compared to TurboTax it’s most expensive premium is twice as cheap. They offer forms and schedules like it’s competitors but for less cost.
You may not know, but if you receive Social Security benefits, you may be required to pay federal income tax for some of those benefits. There are a few ways to know if this is you.
- Have you received a SSA-1099 Social Security Benefit Statement showing your amounts?
- If Social Security your only form of income for 2016 you may not be taxable.
- You may use IRS Free File to prepare and file the tax returns for free if you earned $64,000 or less.
Check out IRS.gov for more information.
