Well it’s that time of year again. Tax Season! Yep, that’s right, time to file our taxes. Personally I’ve already finished mine and will be seeing a refund this year! Yahh-Hoo. It’s always a gratifying thing to find out the government is going to give you some of your hard earned money back.
Many people will go to a tax filing agency and let someone else file their taxes for them. But did you know that filing your own taxes is super easy and it can actually be done for FREE! You heard me right, FREE! Everyone loves free stuff, especially me.
How to File Your Taxes for Free!
Many of you probably know this already, but for those of you who don’t, I’m gonna give you a little secret. Go to Turbo Tax Online and they have a free filing option. Just go to their website and on the left hand side of the page you’ll see a button that says “Start for Free”. Click on that and they will guide you through everything step by step. As long as you’re just filing a normal 1040ez or a 1040A then you can use their free filing system.
I had paid student loan interest this last year, so I had to file using the 1040A. But the free filing also gives you the option to enter in deductions and it will either calculate your deductions or it will apply the standard deductible for you, which ever it should be.
Their system will triple check all your numbers for you and ensure everything is correct before submitting your return to the IRS. It also gives you the option to enter in your bank account information so they can electronically deposit your refund right to your bank account.
It took me a total of about 15 minutes and the step by step guide through each and every step made it a breeze. Their easy step system will ask you everything, so you don’t have to worry about forgetting anything, and it’s designed to get you the best possible refund. I’ve actually used Turbo Tax and filed my returns for free since 2008 and have never had any issues what so ever.
So I just wanted to make this short post to inform everyone of this option and it might just make your tax filing super simple and free this year. Oh and by the way, they do allow you to file electronically and it costs you nothing. So what are you waiting for, get ta filling them taxes and within a couple of weeks your refund will be sittin’ perdy in your bank account!
I haven’t used the rapid refund option before, but I believe it is an option. They also have some sort of a debit card product that they can load your refund on as well. And of course if you have a more complex or business return to file, they have options for that too, but those will cost you to use them.
I believe the home and business edition costs $74.99 but it saves you from having to go out and purchase the software, install it and then file. So either way whether your filing the free edition or a paid one, their online services can make it much easier on you. I’m not affiliated with Turbo Tax in any way. I’m just Joe Blow with a blog, so I like to use it to help inform folks of things that may make their lives easier. So I thought this would be helpful to someone.
If you own a small business and are ready to file your taxes. Don’t do it unless you’re fully informed of all the possible deductions that can be had to help save you thousands.
Ok. Not relevant for the UK audience! 🙂
Oh yah, I guess this won’t apply to all regions. Do y’all file income taxes in the UK?
To the best of my knowledge, in the UK, everyone does not have to file income tax returns every year. It is only when employees make money beyond a certain level, they have to.
In general all employee wages are paid tax deducted. Yes, self employed will have to file taxes every year.
Ahh so essentially, the amount they take from your paycheck is exactly what is supposed to be taken?
In America, the working class usually pay quite a bit more than what is required, so we file tax returns to get the extra back.
But in some cases, after figuring the yearly income, some people may realize that they have to pay more in. That’s happened to me a couple of times and wasn’t very cool…lol
Yes, if you are a working employee, the taxes are collected properly before the pay check is paid.
Even bank interest is paid after deducting tax (albeit at the lowest tax rate) … so yes, in some sense tax have to be filed to pay the pending tax on the interest component… with the kind of interests rates these days, for most people there is hardly anything more to pay extra! I doubt anyone bothers going thru any pain.
I wish it was going to be that easy this year. I’m really confused as to what I have to do since I’ve started my company. Guess I’ll be paying someone to do em this year… I used TurboTax probably for the last 5 or 6 years but gone are the days of easy filing.
Yes indeed. When you get into small business tax, you’re talking itemizing deductions out tha ying yang. The taxes get much more difficult and time consuming. I wish you all the best in getting it done. You might check out that book I listed at the end of the post. It may be quite helpful in your situation. 🙂
Was just having this conversation last night with my step-father, who graciously does my taxes (as he’s an accountant). I did not realize that the Turbo Tax website allows you to file for free. I guess they are making enough money selling ads on the side that they can offer this option for free.
My stepfather did buy the software, which is how I imagine TT makes the vast majority of their revenue. But good to know the free option is out there.
Mike
Thanks for the comment Mike, actually there’s probably a good majority of folks out there that do not know you can file on turbo tax for free.
They also make money by selling their online tax filing for home and business and a few other options. The free filing is only for a simple return with standard deductible.
This is only for UK peoples?
Well, Jessica, I am in the United States. Not sure how many countries this would apply to. This particular post is geared more towards the US.
thank you for the information
You’re quite welcome.
Well is this for foreigners as well who are in the US. Or just US citizen can be facilitated.
Well John, the intention of this article was mainly focused towards the U.S., but Taashtime mentioned in a comment above that folks in the U.K. don’t always file taxes, only if they make over a certain amount.
But as far as foreigners within the U.S., if you are working legally and paying taxes, then you can file for free with Turbo Tax online as long as it’s a simple return without too many extra forms involved. 🙂
Ok that is great , thank you Robert Tuttle for your nice reply.
This is not available in many countries, but it will surely provide them some inspiration. Great work done.
Well very nice info about taxes which will help me a lot.
Great John, I’m glad to be able to help, here’s to hoping for a big refund for you this year!