What are the advantages of doing your own taxes online?

Question

Does it save you money?

Also what are some disadvantages?

Answer 1

Advantages: You save ALOT of money and it's really easy to do. And you don't have to go to the accountant's office, you can do it all at home.

Disadvantages: I don't know of any... I've been doin my own taxes ever since I was 16 years old @ my home computer. I'll do yours for you K, if you want. I'm doing a lot of other people's for them! :-)

In reply to Jabber and others: Even though an accountant (or H&R Block, etc.) does your taxes, they are not held responsible for ANY mistakes made. The IRS will ALWAYS hold the taxpayer responsible for mistakes. Accountants and tax-based businesses would not be making any money if they promised to take responsibility for all of the mistakes. And all of the online software asks the SAME exact questions as the accountants do. If you are unsure of a deduction just go to www.irs.gov and see if it is tax deductible. It's that easy :-)

I always use www.taxact.com. It's really easy to use and you can e-file your federal and state for only $16.

Answer 2

If you don't have major deductions and strange situations - on line is the way to go. I go to an accountant now but I didn't have to until two years ago. I used CompleteTax and it's wonderful.
www.completetax.com Most tax preparers use this software in my area and it really is easy.
For example, if you answer the question that you don't have any dependents, you don't ever see another place on the filing regarding a dependent. If you say yes by mistake and then don't fill in the tab for dependents, it will tell you that you made a mistake and how to correct it.
Beautiful! File on line, direct deposit if you like and for $25 federal and $15 state you're done!
I wish it was that cheap for me now. Most banks will charge you an arm and a leg just to e file for you after you've already done all the work.
Good Luck - You can do it!

Answer 3

Yes and no, If you file online, it's faster because you don't have to crunch in the numbers yourself to see how much the total is, it's done automatically, unless the government is too cheap to even add such feature.

But the main benefit is the fact it reduces your liability in the event you may have made a calculation mistake and not realized it. Reducing a long insult battle between each party accusing each other of biggotry.

Anyways, the best you will save off this is $0.50 because you don't have to pay for the stamp to send in your taxes. It gets your tax in time if your the type to send your returns in at the last minute and it also saves you a trip to the post office or the nearest postal box.

The only disatvantage is if your computer freezes or messes up, you may end up having to redo your return.

Answer 4

Absolutely do your taxes online. Any moron can file a simple tax return. Don't let these tax places take your hardearned money for something so easy. heck they give you step by step instructions. If you're filing I assume you have a job, I also assume that you are educated because you at least can operate a computer. The bottom line is you have a job and an education do yur own taxes!!!! Don't pay the taxman a cent!!!

Answer 5

Honestly, doing your taxes on-line is very nice. The only negative that I have found, is that if you do not already know how to do taxes, it is easy to miss some deductions and credits. Some sites are not so user friendly, but the IRS has a link to Free Tax Filing that will match you up with the on-line firm most suited to your needs. www.irs.gov, "individual", Free Tax Filing.
If your taxes are complicated I would advise hiring a competent tax person.
Good Luck & Blessing

Answer 6

Considering that the tax software cost money and there is also a fee to e-file, it actually costs money. But, good tax software will guide you through the process and possibly bring up some deductions or credits that you may have overlooked & that may increase your refund. It's not as cheap as doing yourself on paper, but can be less expensive than going to a tax service.

Also, e-filing usually means your return will be processed quicker and your refund will get to you sooner. It boils down to a question of what your expected refund will be and how much want to to invest in maximizing it and getting it in your hands sooner.

Answer 7

And does your state and native taxing government have a sales and use tax on your area of the country which you do stay in then in the present day on your existence and you probable are meant be paying them the sales and use tax each and every tax year once you fill out and document that state earnings tax return for this objective and time on your existence. wish which you detect the above enclosed suggestion useful. 05/sixteen/2013

Answer 8

I would NEVER do my taxes online. I believe in having others smarter than you work for you. I do not know all the change in tax codes and laws and those online filings are certainly NOT gong to share many of them with you.

Always have a professional do your taxes or save that money for the tax attorney you may need down the road when the IRS comes knocking.

Answer 9

Yes: You do not pay money to have someone read the book that the government will give you free. You may get a big headache if you read the book, but it is do-able. That is how I learned about taxes to begin with.

Answer 10

well i have friends that actually do theres online, but im like some of the others that has answered how can they possibly have all the deductions every yr on the tax software or online, i myself would rather take them to a professional and have them done then if they come back on you they are liabale for the mistake... makes sense to me...