Is doing your own taxes online worth it?

I used to think that, and then I took my first tax class. The instructions for the 1040 form is 174 pages long. And that doesn't include any of the additional forms that you may need. The basic guide to taxes that the IRS puts out, 304 pages. The tax code changes every single year. I can't speak for who you go to, but I'm able to just type things in and make it look like it's easy because of all of the classes I take each year.

If you go and do it yourself, will you know what its supposed to look like when you're done? Do you know what credits and deduction you are or aren't eligable for, and why? How would you know if you (or TurboTax) made a mistake?

Don't do it.

Doing Your Own Taxes Online

I get Federal and State done for free at the library, and city done at city hall. This year I got back more than I paid in. No wonder the government is in financial trouble! I don't mind paying my fair share of taxes so I was really shocked when the tax return preparer showed me on the computer how much I was getting back. I said are you sure and she said yes. Then I found out a waitress I know who has two kids and is on Welfare got back $7000.00 and a cook at the same restaurant where she works got back $4500.00. So now I don't feel guilty about the few hundred I got.

If your taxes and forms are simple, you can save money by entering the information yourself.

The only reason it might be worthwhile to pay a tax preparer is if your forms are complex and there might be deductions that you didn't know about.

My wife and I have no children, we own a home, she's in school, and we don't own a business. Our taxes are pretty straightforward, and it takes me only a few hours to do it myself online once I have all the forms and statements that I need.

It is ok to do it by yourself, but, it is recommended to seek professional tax preparer who knows what to do. Also, when doing tax through professional you avoid any miscalculation or forgetting about what you may get, but you forget to claim. It is good to do it by yourself, but not

Most the so called free on line tax services, they have catch. They let you do the Federal return for free

but will charge you for the state, and forwarding your refund if any. When putting all together, it will be the same as if you hire small office to do that.

If you have a simple return no problem. There are a lot of ifs, ands, or buts and you do it wrong you will hear from the IRS later. The online programs ask questions but if you dont know the answer what will you do?

You can do it yourself with Turbo Tax or HR Block for free if all you have is a W2. They guide you through it. You can't go wrong.

It's not hard. You should just do it yourself. Last year was my first year as an independent filing, and I was terrified. Then I did it, and not only was it easy, but I thought it was actually kind of fun. But I'm weird.

Save yourself the money. Do it yourself.

The IRS actually has free tax sites around the country for those who make less than $49,000.

It depends on how complex your return is and how comfortable you with the terminology.

Accountants make a lot of money "fixing" self-prepared returns in the summer.