Alright, so now you're ready to file those taxes that you've been preparing for all year. You finally feel like you have everything you need and you are ready to get yourself a return, dang it! There are really only two ways to go about this. You can either do them yourself or you can have someone to do them for you.
Obviously there are any number of places you can go to have them done for you, like H&R Block, or a local tax accountant. You know me, though, I like to do it myself and save myself a dime, so I just use TurboTax online. Turbo Tax does offer software for purchase as well, if you prefer not to use the internet.
Don't freak out! TurboTax is actually much easier to use than you may think. It is it literally a step by step set guide that walks you through every form needed. The only trick you need to know about TurboTax is to take every step. When it asks, "do you want to explore each section?", click YES. Do not skip ahead and do not take the shortcut. That is the only way to make sure you are as thorough and efficient as possible.
Be it known: It's going to take you a while to get from start to finish. I know that it's going to take me, with all my different forms and situations, roughly 2 1/2 hours to do my taxes completely. I'm already set up in the system from previous year's returns so it's a bit easier for me. The first year you use the product will be the longest time you spend. Every consecutive year will get faster and easier and more information will have been pre-loaded. If you don't have a lot of additional situations, like we do, it will take considerably less time. If all you need to do is fill in W2's and maybe a student loan interest payment, I'd bet you'd be down in under an hour.
What I recommend is making sure you give yourself enough time to complete this task all at once. You're never going to want to jump back in if you've already started. If you know that you work better in small sections a little at a time, you can always do that too. There is a save and return option throughout.
My husband knows doing the taxes is my responsibility and I get a weird joy from it so he helps me out too. It's his job to get the kids out of the house and give me a minimum of 3 hours quiet with no distractions. As of late he's even been taking the dog. I pour a glass of wine, turn off all of the noise making devices, sit down with my folder full of documents and push start.
Read every bit that is printed on the screen. Read, read, read. They can't lie to you, they're under contract, and you're going to give them your money, so take every step and read every direction to make sure you get it done right the first time! Watch the little money counter in the corner grow and grow as you finish each section (that's my favorite part).
This year TurboTax is cahooting with Amazon. You can take part of your federal refund as an Amazon gift card. Amazon will reward you for doing so with either 5% or 10% more than the gift card's purchased price. That is huge. If you use the Premier Edition like I do (because I have multiple forms, with my rental and my W 2's and a small business that I run myself) you get 10 percent on top of the Amazon card value. Standard versions are rewarded with an additional 5%. I opted to take $300 in the form of an Amazon card because I already shop with Amazon for inexpensive home products and gifts. By doing so I got an extra $30, that's right $330 for the actual price of $300. That may not sound like much but it is. That's actually a whole case of toilet paper, 4 months worth of toilet paper for our family. You know how I love the savings and something that practical just doesn't make sense to pass up.
I recommend taking this offer for anyone who hasn't filed their taxes yet. TurboTax makes it ridiculously easy. They file for you. They also allow you to track your return's acceptance and refund. My state and federal refunds were accepted and deposited electronically into my checking account within 10 days of filing. Sweet, sweet success.
I'm not saying that everyone's experience will run that smoothly. Certainly mine haven't in the past, but your chances are better than going it unsupervised or forgoing the legality of paying taxes all together. If you sick with TurboTax, you also have the opportunity to sign up for audit protection and review your returns before they're filed. Heck, you could do your return all the way through to the end and decided you didn't like the outcome and opt not to pay for it and walk away. Bring it to your tax guy, see who gets a better return and which is less expensive. Take this exercise and see where you're saving your money if you are skeptical.
The only other thing to remember is it there's no reason to pay full price for the TurboTax Online. There a lot of programs where you can save on the sticker price. My current banking institution USAA allows members to have a 20% discount for using TurboTax. Just go online and Google TurboTax Online Discount and see what pops up. You'd be surprised. Enter in promotional codes at the end when you check out and you'll save yourself on filing as well.
By the end of the process I always feel so empowered. If I can finish my taxes I can do anything! Plus, I know I won't even have to really think about them for another whole year. It's a glorious feeling and I know for certain any of you can do it too.
Happy filing!
Simple City Sam
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