![]() ![]() It is possible to manually indicate that it is state tax exempt, but other tax software does this automatically.Ĭredit Karma tax ignored what I entered for NY use tax. US savings bond interest was counted as taxable on the state return, which would have made me pay too much state tax. When I tried to use it last year I had multiple problems with it: It’s nice to know that going into this year because I can make any adjustments to my W2 if necessary. It’s nice to know WHY you’re paying what you’re paying, and what affects you from year to year.įor instance, I have to plan for the $600 credit for childcare to not be there next year (as we’re done with childcare). But it also helps in seeing how the proverbial sausage gets made. If you star early with your part-time job as a teen, each year just seems like adding one or less new things as it gets a little more complicated. If you own a small business, then MAYBE you should get some professional help. Took me about 30 mins to fill out my taxes, and a lot of that was spent doing the worksheets to make sure things like the Dependent credit and childcare credit hadn’t changed (they haven’t).įinally, I highly recommend people to do their own taxes as long as it’s fairly straightforward. I’m married (2 incomes) with 3 kids (one in daycare), and my wife has student loan interest. I did it in past years when I could claim itemized deductions, but since those have been taken away from the average tax payer, it’s simplified the process even more. With the new tax rules, if you have fairly straightforward taxes, Free Fillable Forms is the way to go. Big credits out there for education (AOTC, LLC, student interest deduction), energy (lots of state credits here, too), low income (Earned Income). But, if you're clueless about taxes, and are not diligent with answering the software questions, it may be worth doing once just to make sure you know if you qualify for something like an education credit. If you don't own a business or have a specific big tax event, a CPA is not needed. The IRS can and will correct typos (mismatch on a W-2) but why wait for them?Īfter your first year, doing taxes with a product is half the work - they all remember last year's information so there's less typing. Even being a tax nerd, I find I usually have a mistake my first try. If your refund is off by more than $1, you made a mistake somewhere (probably, I have allowed >$10 differences now that I own a business, and different tax products amortize and depreciate assets differently, and I can't find ways to change it). I don't see much reason to do it now, other than saving money.ĭo your taxes with two different programs. Manual - I also used to file manually, but that was before the internet was really a thing. Perfectly serviceable, and if it's cheaper than TaxAct I may use it for my personal taxes this year.įreeTaxUSA - I used this one year, and I liked it just not quite as friendly as the top two choices here, but if you have simple taxes, I'd say this is fine. It's a version we access through the program portal, but I'd imagine very similar - maybe identical - to the normal version. TaxSlayer - I'm a tax volunteer and we use TaxSlayer. ![]() So you can't just change one thing, you need to go into the, say Deductions track, and then re-answer all the questions. I happen to hate one particular thing: TaxAct puts you into these "flows", or tunnels. If we baseline TurboTax at 10, TaxAct is like an 8. TaxAct - my goto in the last 6 years, although it's more expensive that it used to be. I use Turbo Tax every year as an error check (I put in all the numbers but don't file). Turbo Tax - expensive if you don't get the "other" free edition but still the easiest. ![]() Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit.įirst up, IRS Free File if your income is $69,000 or below.įor reviews, I've used the following, but not with Free File (although they're all pretty much the same as their Free File editions) Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. ![]() Scam alert: Ignore any private messages or chat requests. ![]()
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