Do My Own Tax Return Online
The Complete Guide to Do My Own Tax Return Online
Do-it-yourself (or DYO) tax preparation may not be for everyone, but it can help those that are more comfortable and knowledgeable with their finances. Those who prefer this method of filing their taxes can find many benefits to doing so. From having total control over their investment income to being able to choose the most cost-effective way to do my own tax return online.
Similarly, those that are excited about earning a little extra money from their side hustles or as an alternative way to supplement their income may also find this helpful. Even if you’re not a big fan of doing your own taxes online, there are plenty of advantages to using this method. This article will help you understand the advantages of filing your own income tax. It will show you how you can get started with DIY tax preparation.
Doing your own taxes online puts you in control
If you’re a self-employed person or a business owner, doing your own taxes as an independent contractor may allow you to feel more in control of your finances. While you can use free tools that are on the internet, many are reluctant. A lot of people find that they prefer to pay for a more comprehensive product like EZ Online Taxes.
We often hear people ask “if I do my own tax return online will I be sure I’m getting all deductions and tax credits I’m supposed to get?” Well, we developed our online tax program for folks that don’t know very much about taxes for a reason. We want every person that uses out program to get every credit and deduction due them based on their income and filing status.
Investing can be much more effective when you have a good understanding of the reasons behind your investments and their potential return. There’s no need for you to understand our complex and confusing tax code either. Our program was designed for the tax filer who prefers to file their own tax return. You get all this at EZ Online Taxes, and more for a flat fee of $25.
Save time and money by filing your own income tax
Time is a valuable commodity, and many self-employed people find that they can’t find the time to file taxes if self employed. We all seem to never have enough time to get everything done, and out tax program does the heavy lifting for you.
Many people find that they don’t have the time for all the steps required with self-employed taxes, and if we take them to a CPA or a tax professional, then the high preparation cost enters the picture. You can sign in to our simple program, answer a few easy interview questions, enter the information from your tax forms, and we take it from there.
From your answers to the interview questions and based on your filing status, we know what tax forms need to be completed, and complete them for you. Many individuals wonder if I do my own tax return online, will I get any tax credits due me? Yes, you do! During the calculation process, we determine what tax deductions and credits you are eligible for, and complete those forms too. Nothing is missed.
Need more tax forms or schedules? No extra charge
One of the best things about this entire process, is you don’t have to be concerned you’ll have to pay more if you return has more tax forms. You’ve seen those pricing tiers other vendors have, and how the cost of filing your return can reach $170 and higher. At EZ Online Taxes, we don’t believe in that.
We decided years ago that making clients pay more for doing your own taxes online, was unfair. We adopted a new procedure whereby we would charge a flat rate fee of $25 for all returns. No matter if you have a very simple return or a very complicated one, the fee is the same. Do you mean that I can do my own tax return online for a low flat fee no matter how many forms I need?
What’s more, that low $25 fee covers your federal return, state return, and e-filing both of them. If you look at a few of our competitors, you’ll see in fine print that filing your state return with them is extra. Their fee for the state filing runs from $19.95 to $49.95. A couple of then advertise a free federal return and then $49.95 for the state. We’re still lower and a lot more transparent with our advertising.
File taxes if self employed by estimated payments
Taxes, especially federal taxes, are a significant amount of money that the government receives from citizens. Many people who do taxes themselves often find that their taxes are significantly lower than the amount they expected.
Quite often, they didn’t realize they qualified for some significant tax credits that reduced their tax bill. As an example, are you familiar with QBI (Qualified business income)? A lot of people aren’t. Say you’re a self-employed person running a home improvement company.
After completing your Schedule C for the business, let’s say you have a net taxable profit of $20,000. The QBI allows you to take a 20% deduction, or $4,000, from your total income, which reduces your federal taxes. There are complicated calculations involved, such as income limits, filing status, etc. Our program makes all those calculations for you, accurately!
Protect your privacy
Tax laws are designed to protect people’s privacy, but not everyone follows them. If you choose to do your taxes yourself, you’ll have the ability to protect your privacy. A lot of people wonder, if I do my own tax return online, will my information be protected? Absolutely YES. Our program is fully encrypted and very safe.
Check if you’re a good candidate for doing your own taxes online
When you’re doing your own taxes online, you’ll have access to a variety of software options that make it possible to file your taxes either electronically or on paper. We highly recommend e-filing for all returns. Not only is it safer, but much faster if you’re due a refund. And, we definitely recommend doing your own taxes online at EZ Online Taxes.
You don’t have to be a tax accountant or someone who thinks it’s fun to read the US tax code. Our system is so user-friendly, a first-time tax filer would feel comfortable filing their taxes. In our opinion, the only type person who would not be a good candidate for online tax filing is one who has to take a tranquilizer just to gather their tax information.
Save money on professional tax services
For those who are good candidates for filing their own tax return online, the savings could be significant. Not only could you save money on professional tax services, but you could also have a chance to get a lower tax bill. You’ll find that EZ Online Taxes has the lowest overall cost at $25.
What gets to me are those sites who advertise your federal return is free. Then they charge $49.95 to file your state return which is twice the cost that ours is for everything. Plus, the online tax programs are guaranteed to be accurate and up to date with current tax laws.
Conclusion
Tax season will soon be here and whether you agree or not, it’s a very important time of the year. Filing your own income tax may appear to be the impossible dream, but as said previously, it’s a user-friendly process. You don’t have to know the tax law, or for that matter, understand how to file a tax return.
One of the most important things to keep in mind is not to be mesmerized by brand names. You have to read the fine print there and see what the total cost is. You should be aware too, if you have a couple extra schedules in your return, you’re paying more. Say you have a Schedule C for a side gig or a Schedule E for a rental property, your cost is going to go up quite a bit.
So, why not visit our site, EZ Online Taxes, and save time and money. There’s no need to wonder, “can I do my own tax return online?” You definitely can, and we’ll save you money too.
- Is Alimony Taxable? Unraveling the Tax Rules for Spousal Support - January 17, 2024
- Mastering How to Do Your Own Taxes: A Step-by-Step Guide - January 10, 2024
- 5 Reasons Why Filing Taxes Online is the Smarter Choice for Every Taxpayer - January 3, 2024