1040.com | Best Way To File Taxes
Why We Think 1040.com is the Best Way to File Taxes
Did I hear you correctly? You haven’t filed your taxes yet? If not, there’s no reason to panic. We can guide you in finding the best way to file taxes – and at a low cost. What’s more, it won’t take you very long and it’s quite easy to do. Just follow our simple instructions and before you know it, filing your taxes will be nothing but a pleasant memory.
Find all of your tax documents that were sent to you
You wouldn’t start a building project without plans and filing your taxes is no different. Gather your W-2 and 1099 forms that you got in the mail, plus any others from a stock broker if you have an after tax investment account. If you have a side hustle that’s not a bonafide hobby, you will need to report that as well. You will need to find those receipts for the income and any expenses that apply to the hustle.
If you own a home that is being financed, the bank or mortgage company sent you a 1098 form showing how much you paid them for your real estate taxes and loan interest, and perhaps mortgage insurance premiums. Locate any checks or receipts that you paid to churches or other charities. Our first recommendation as to the best way to file taxes is to do your taxes online.
Doing taxes online is a quick and easy process
Computer technology today is so sophisticated it practically does the job for you. What’s more, you don’t have to travel to a local CPA to do your taxes online. Everything is done in the comfort of your home, and at a time when it’s convenient for you. Our recommendation to you is an online tax filing site 1040.com, with whom we have a long term relationship.
Their tax software program will ask you questions – and based on your answers, it will select the forms and type of return that you will need to file. You simply enter the information on the computer look alike forms from your W-2 & other forms – it’s as simple as that. This highly intuitive program will then calculate your tax return and will make sure that you get every tax credit and deduction that you’re eligible for. Then in an instant, your completed return is on the computer screen for you to review. This is really the best way to file taxes bar none.
Don’t download software to file a paper return
There are still some individuals who use downloaded software to print out paper returns to mail in. This is definitely not the best way to file taxes. You need to go to a post office & get proof of mailing just in case your return doesn’t arrive at the IRS. Plus it’s very inconvenient. Doing taxes online is so much easier and they are e-filed which is faster, safer, and guaranteed accurate.
See if you qualify to do your taxes online for free
At 1040.com, if your gross income is $100,000.00 or lower and you are filing a Form 1040EZ, you can file your federal tax return for free. Then all you have is a small charge to file your state income tax return. If you happen to live in one of the states where they have no state income tax, you’re home free.
Do you need to file an extension?
Sometimes, you just can’t get everything together and you’re down to the wire through no fault of your own. A missing form, or maybe an illness, and there is no way that you can get the return done. On the online tax filing site you can file an extension until October 15 which gives you an extra six months.
Understand what the extension means
The IRS and your resident state will give you an automatic six months to file your return, but if you owe a balance, it needs to be paid by April 17, 2018. Those who are getting a refund don’t have to be concerned. There are a number of sites where you can do an estimate with your current year numbers to see if you will owe more in taxes.
In our opinion, this is really the best way to file taxes. Filing your return is fast and very safe, plus if you have a refund due, it will arrive quicker using direct deposit to your checking or savings account.
As we mentioned before, doing taxes online will save you a lot of money and inconvenience. Paying a high fee to a CPA or other tax preparer, just doesn’t make sense for many types of tax returns. Why not see for yourself? Give it a try with no obligation. You’ll be glad you did.