How To Do Your Own Taxes Online Free

It is tax season deciding the best method you should use to file your taxes. It will depend on what is best for your tax situation.

A professional tax adviser may help in certain situations. Often taxes can be simple. Simple enough for you to do them yourself.

Like many things in life, once you’ve filed your own taxes, a lot of the drama vanishes.

Plenty of software providers and online services provide e-filing. Some may advertise free filing, but often there’s a catch.

If you’ve never filed your own taxes. You might be turned off by all the mystery and complexity. That surrounds the process.

But hiring a professional may not have the effect you think. About audit protection or liability.

Taxes are too complex for a system to not do your research. On the best way to do your taxes, especially on your own.

Knowing the best way to do your taxes and the most cost-effective way to get them done. It is the goal.

This article is about the myth of doing your own taxes and how to do your own taxes online free.

Myths About Doing Your Own Taxes

how to do your own taxes online free
"Tax" by Alan Cleaver is marked with CC BY 2.0.

Here are some myths about doing your own taxes.

Taxes Are Too Complicated

The popular press makes taxes seem complicated. By quoting politicians.

Demanding reform and referencing how many volumes the tax code fills.

Most taxpayers. You don’t have to worry about most of the tax code, which applies to extremely specific situations.

Although times are changing, most American taxpayers still hold a “traditional” job.

Work for an employer and receive a W-2 filled with tax information at the end of the year.

For the typical employee, taxes need not be complicated.

There will always be situations in which hiring outside help makes sense.

Particularly if you run a business or have extensive investment assets.

But if you are an employee of someone else’s business with no outside investments. Then keep it simple because it is simple!

Even if you have your own business and have outside investments.

You can keep it simple by doing your own taxes online or using tax software.

But you will not be able to file them for free. You can start for free using tax online software like TurboTax.

In the end, you will be charged the fee based on the kind of tax situation you have.

While you shouldn’t avoid itemizing if you have the required expenses. For most taxpayers, this isn’t an issue.

More than half of all taxpayers don’t even itemize deductions.

They use the standard deduction instead.

This makes doing your own taxes a much simpler process.

For the self-employed, you can follow instructions. Which the Internal Revenue Service provides for free.

You can list your income. Subtract your deductions and credits and arrive at the correct amount of tax you owe all on your own.

If you don’t feel better, get a second opinion. An online or software-based tax preparation service like TurboTax. Can provide all the help you need.

 TurboTax even lets you speak with tax professionals like CPAs, EAs, and tax attorneys for free. By phone or live chat, in the event, you run into any questions.

The Thought That You Will Get Audited

Doing your own taxes in and of itself doesn’t make you more likely to be audited.

Having someone else do your taxes. Doesn’t necessarily make it less likely that you’ll be audited.

Since the IRS can’t review in detail every single tax return it receives.

It has a series of triggers that flag suspected returns for further review.

If your return carries any of these red flags. It might not matter whether you did your taxes yourself. Or used the highest-priced accountants you could find.

Professional tax preparers may be less likely to make certain errors. Since they are more familiar with the tax filing process in general.

But hiring one is no guarantee you will be shielded from an audit.”

When you use TurboTax to prepare your taxes. You gain access to our Audit Support Center.

And can talk to our tax professionals year-round, in the unlikely event you are audited.

You Think You Don’t Have to File

Some taxpayers believe that if they don’t make enough money, they don’t have to file a tax return.

While in some cases this may be true, they are rarer than you might imagine.

From a straight income perspective. You must file a tax return for the year.

If your gross income is above $12,550 for under 65; 65 and older $14,250 for single filers. $25,100 if both spouses are under age 65 and $26,800 if one spouse is under age 65 and one is 65 or older; $28,500 if both are 65 or older for married filing jointly. For under 65 $18,800 and Over 65 $20,500 for the head of household. $5 Married, filing separately for over and under 65. For a qualifying widower under 65 $25,100 and $26,800 over 65.

But many other factors come into play when it comes to filing.

For example, if you earn any self-employment income. You’re responsible for filing a return as soon as you earn $400.

 If you qualify for various taxpayer credits. Such as the earned income tax credit.

Or if you had excess money withheld from your paycheck, you should file a return no matter what your income.

“You can’t get money back from the IRS if you don’t file a return.”

TurboTax Will Get Every Deduction You Deserve

TurboTax searches for more than 350 tax deductions and credits so you get your maximum refund, guaranteed.

Let’s face it and not run from our truth! Tax season is here, whether it’s your first year in business or your tenth year.

It always feels like there’s an endless list of tasks to get through to file your return.

If you live in the US, TurboTax step-by-step software will help you get organized.

So, you can get a jump start and file your tax return well before its due date which is April of each calendar year.

Unless you file to get an extension then you have until October of the same calendar year.

In Conclusion

To learn more about the best product option do your taxes on your own you can go to the Turbo Tax Website to assist you with filing your taxes. 

As we continue, to improve our lives and change the way we think about some things.

How we file our taxes. It is important because you don’t want to jeopardize your quality of life.

By not filing and causing issues with the IRS. Can all affect your financial health and even your freedom of time. 

How do you feel about doing your own taxes? Leave your comments in the comment section.

I invite you to subscribe to my email list!  And join me on social media on any platform.

I hope this article enables you to make a sound decision regarding filing your taxes on your own.

5 thoughts on “How To Do Your Own Taxes Online Free

  1. I’m from the UK and have always done my own tax returns, I had my own business for just over 7 years. I actually took the time out to learn how to do my own accounts and tax returns, now days completing a self-assessment online form here in the UK has been made very simple. However, I was a sole trader so I had no staff to consider and all that entails so in that situation I would have found it very difficult, a product like TurboTax Online would be ideal.

    1. Hi Mitch! Turbo Tax supports the US and Canada regions. But if TurboTax offered a product for the UK, I’m sure it will be just as simple as the self-assessment online form you use now. Thank you for your comments!

  2. Awesome article on filing your own taxes, at my earlier age when my children were under age I usually filed my own taxes, until I became two busy with life changes and responsibilities.

    Now I am retired, and trying my best with online business, I need to get back into knowing the in and out of taxes again.

  3. The overall article is very interesting, and I am very familiar with doing my own taxes many years ago. I stop when responsibility became overwhelming in my life. However, it’s great knowledge to have, but for me there are so much studying to do even though the internet makes it much easier to be self sufficient. I am thinking of getting back in doing my own again.

    1. Hey, @Affiliate for Amazon!  Life can sometimes cause you not to be able to pay your own taxes. And outsourcing is the better option. But doing them yourself can also save you money. It all depends on what’s best for you! Thanks for commenting!

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