Online Tax Preparation makes it easy to ‘do it yourself’. With the simplified processes of online tax prep along with the information age of getting more info, you can actually file your income tax without a lot of pain and agony, but… If you file your taxes online, with the knowledge you gain from online resources, and don’t have someone to ‘look them over’ will you get the most from your deductions? Will you even take them?
Occasionally, I meet someone who filed their tax return online who chose not to itemize their deductions, because they don’t want to be audited. Umm.. Well. An audit is always an option, IRS retains that right if they feel something is amiss, but they do not generally audit authentic deductions, or income. Their purpose is clear, to get the most reasonably from the tax payers. The provisions for deductions are provided to prevent you from paying more than your fair share of taxes.
Your purpose is to get the most benefit from the money you spend. IRS calls these deductions. If you must prepare your own tax return, it is imperative that you organize your income and expense records well prior to preparing the return. Gather your information and put it all together in one place. Total all accounts and put the totals in a clearly organized format, where you can use them to fill out the documents online.
An online FREE Tax Planner and Preparation Guide available for download at http://www.lulu.com/content/209190 would be helpful with getting your information down in an organized format.
Other helpful online resources include www.turbotax.com, but you’ll want to have your Tax Planner and Preparation Guide filled out and handy before you open an online tax preparer.
Webpreneur and Content Provider, Jan Verhoeff, has learned to focus her business on meeting the needs of others. By creating an atmosphere where many can achieve their desired goals, Jan moves steadily toward her own goals. What is your dream business? Are you there yet? Let Jan help you achieve your business goals with information, resources, and consulting that works. Visit her at http://www.freewebs.com/janverhoeff