Tax season is right around the corner. Although we have months until our tax returns are due, it's never a bad idea to start getting organized early. If you'll be preparing your own tax returns like millions of Americans, you might want to start gathering up all of your important documents now. That way, when the 15th of April rolls around you won't be overwhelmed, run out of time and be forced to file an extension.
Working on your own income taxes has become easier over the last few years. There are many pieces of software out there that can help you prepare your returns. Two of the most popular pieces of tax software are TurboTax and TaxCut. Millions of people will likely use this software to prepare their tax returns this year. These pieces of software and others are reasonably priced and widely available at your local office supply store, if you choose to go that route.
If you don't want to purchase tax software to help you with your income taxes, you can always file your returns online on one of many web sites. A very popular site is Taxact.com . Whenever you are entering personal information, please be very careful. Identity theft is rampant today. Because you will be using your name, address, social security number and other sensitive and important information, it is important that you only share this information with secure and reputable web sites.
If your going to opt for hiring a professional to work on your income taxes, you are in luck. There are many agencies out there that can prepare your returns for you and most of them you already know by name. Jackson Hewitt is one. H&R Block is the most recognized and will charge a reasonable fee. If you're thinking about using their rapid refund program I would think twice. The fees that go along with what is really a refund anticipation loan can be costly. If you expect your refund to be less than $1500 I would suggest you have your return filed electronically. You'll receive your refund in a matter of weeks and save yourself from paying the large fees for a rapid refund check. It's been my experience when using H&R Block that they may not be as thorough and aggressive as a certified public accountant, but they can do the job and relatively quickly.
Working on your income taxes doesn't have to be the difficult task the media and your friends hype it up to be. With all of the retail tax software available, as well as online income tax sites and various agencies, you can conquer this task without any stress at all this year. You may even live in an area where knowledgeable people will assist you for free. There is such a service in the city I reside in that will help prepare your return for free. If you don't have such a resource in your town, go ahead and give the retail tax software a try. It'll makes this task seem simpler to complete.
The author, Frank Mayes is a 51 year old tax professional who has 26 years of income tax preparation experience & 10 years experience in the home based business arena. He lives in the suburbs of Detroit, Michigan. Visit his website and pick up a free report at youcanaffordthisbusiness.com youcanaffordthisbusiness.com
Such a useful and essential topic. Everyone should read this to learn more about the preparations required for tax season.
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