taxes…

I did all of our taxes on Turbo Tax again this year. I used Home and Business, and it made filing our household and my sole proprietorship taxes really easy. I swear, everything you need to be a small-business owner is right at your fingertips. You can buy software to help you do everything; accounting, HR paperwork like ratings and talent management, and setting up a website has never been easier.

I am grateful to modern technology. Now if I could just show a profit!

As for Turbo Tax, my bank didn’t offer a discount this year, but my credit union did. Make sure to check around all your financial institutions if you want a discount. Usually, in order to get the discount, you have to follow the link from your bank. You can’t just go directly to Turbo Tax. This year, I bought the software at Costco because online, the Home and Business didn’t include state filing, but the software does.

Still need to file taxes? Use Turbo Tax!

I don’t know why, but I thought you had to purchase Turbo Tax software in order to use it. I had no idea that you could just go on their website and eFile. We have pretty simple taxes (no property, limited deductions), so my federal filing was free and my state filing was $25! I can’t believe we went to H&R Block the last couple of years. Not because they did a bad job or anything, they were great, but their services are totally overpriced. I did my own taxes in about 45 minutes on Turbo Tax. Seriously, check them out.

Lessons Learned:

  • I figured out after I was done that if I had gone to their site through a link provided by my bank, I would have gotten a discount on my filing fee. So check your bank’s website to see if they have any links to Turbo Tax.
  • I added the “deduction maximizer” service for $20. I don’t recommend this. The only benefit I saw was that it told me it was better to take my standard deduction than to itemize (which I already knew), but I was glad that it told me I was right :)
  • Take the time to go through your phone bills and look for the excise tax. I could have taken the standard tax credit of $50, but I ended up getting $130. We’ve had quite a few different land line phone services during the allotted time frame, so I only looked at our cell phone bills, because they are all online and I could access them easily. It was worth the trouble. For more info on this tax credit, check out this link: refundsforgood.org. Any American who purchased long distance or wireless phone service between March 2003 and August 2006 is entitled to get this refund.

Happy filing!

 
 
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