Turbotax Or H&R Block Is Cheaper For People With Stock 7 Ways to File Your Taxes This Year

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7 Ways to File Your Taxes This Year

Well, the time of the year is almost here: tax season. Most everyone dreads filing their taxes, but it needs to be done. Luckily, to ease stress and inconvenience, there are many ways to file taxes. What you choose may depend on how complicated your taxes are to file. Are you self-employed? Buying or selling a business? Have a lot of investments? Single with no kids and work a regular job? All of these situations may have you filing your taxes in different ways.

The two basic ways of filing are online or paper. Depending on your situation and comfort level, one way may be better than the other.

File online:

Filing online is a fast and secure way to make sure that your tax returns reach the IRS. The IRS will confirm that they received your filing or reject it and say what they need you to fix in order for them to begin processing your return.

  1. Free file for your federal taxes on the IRS website if your adjusted gross income is below $54,000. Visit the IRS website and pick an online tax preparation company.
  2. IRS e-file is for taxpayers who make over $54,000. To e-file, visit the IRS website and pick one of their e-file partners to get started.

Paper file:

Though many people enjoy filing online, paper filing is not extinct. Plenty of people choose to mail their taxes into the IRS. Below are the resources people commonly use to prepare their taxes on paper.

  1. Professional tax preparer

    Places like H&R Block, Liberty Tax, and Jackson Hewitt can get your taxes done quickly but if you are looking for a lot of individual attention you might want to see an accountant.

  2. Accountant

    Everyone’s accounting needs are different. Taxpayers who own small businesses may need to visit an accountant several times a year, while other taxpayers simply need a one-time consultation. Be sure to ask about costs and how far in advance appointments need to be scheduled.

  3. Other tax professionals

    If it’s been awhile since you have filed your taxes, you may want to consult an enrolled agent or tax attorney for help with what to do about tax debt.

  4. Software program like TurboTax or Quicken.
  5. Own knowledge. If your taxes are simple this year and you feel confident and knowledgeable enough about filing on your own, go ahead!

Of course you may use the above resources to file electronically as well. For instance, if you will be using an accountant to help prepare your return, you can simply copy down the information to file online.

No matter how you file your taxes this year, just make sure you file them. Whether through software, an accountant, a tax attorney, an enrolled agent, or a tax preparation company, most people need some help when filing their taxes. Consider the many options you have to file and bask in the comfort of having your taxes done correctly this year.

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