Finding the Cheapest Way to File Taxes
It’s tax season, and you know what that means—long hours of number crunching to file your taxes! So much fun! Some will owe money, and others will receive money. If you’re a part of the latter group, tax filing can be exciting.
But the not-so-exciting part is the time it takes to complete your taxes and the amount of money you must spend to file. But don’t let it get you down. There are plenty of frugal ways to file your taxes. Whether you are due a refund or not, everyone wants to hold onto their money! You just have to find the cheapest way to file your taxes, and we have some great ideas for you.
Your Low-Cost Tax Filing Options
TaxAct
When looking for the cheapest way to file your taxes, TaxAct can be a good option. It’s free for federal tax returns but charges $39.95 per state filing. Check out the deluxe, self-employed and premier tiers with more filing features, including help from tax professionals.
TurboTax
Did you know TurboTax is the leader of the do-it-yourself tax software market? It accounts for about two-thirds of the overall tax preparation market.* You can file your federal taxes for free with TurboTax, but the free edition only supports the simplest tax situations, like state returns and e-filing. For more taxation functions, check out the deluxe and premium editions and add-on options. However, if your tax situation is simple, obviously, there’s no need to purchase the deluxe and premier TurboTax packages.
Free File Alliance
The Free File Alliance is a non-profit coalition of top tax software companies that partner with the IRS to help Americans prepare and file their federal tax returns for free. It’s the cheapest way to file taxes because you do it at no cost. Provided your AGI (adjusted gross income) is $79,000 or less, you can file your taxes for free! Word to the wise–this option is for experienced tax filers. It will do the calculations for you but will not offer additional guidance like tax software.**
Go to irs.gov/freefile
H&R Block
Another popular option for low-cost tax filing is H&R Block. It’s free for simple income tax returns and supports education-related and unemployment income deductions and credits. H & R Block has four online tax preparation tiers, including the free, deluxe, premium and self-employed options. There are also varying degrees of support from tax professionals. So, find a relatively priced filing option, or choose the cheapest way to file your taxes, the free option.
Get A Small Loan To Help With Filing Your Tax Returns
Filing your taxes costs money if you’re not up to taking up the low-cost tax filing alternatives listed above. Free tax filing only has basic features; if you want more ease and professional help, you must pay for it. Even then, look for the cheapest way to file your taxes by evaluating different filing alternatives.
If you need a small loan to pay for low-cost tax filing, get it from the Minute Loan Center. We have a fast application and quick approval that may get you the money you need on the same day, sometimes within 1 hour. Contact us for more information, and a customer service representative will get back to you promptly. Apply for a loan!
SOURCES:
* Hiltzik, Michael. “Intuit Changed TurboTax This Year, Triggering an Enormous Customer Uproar.” Los Angeles Times, http://www.latimes.com/business/hiltzik/la-fi-mh-intuits-catastrophic-turbotax-20150118-column.html
** “Cheapest Options for Filing Taxes Online.” Trib Total Media, http://triblive.com/business/headlines/7693877-74/free-tax-file#axzz3SJgRso2N
Kevin brings over 15 years of experience in marketing, with a specialized expertise in growing online businesses. As the Director of Marketing at a leading FINtech company, he employs innovative strategies to enhance brand visibility and customer engagement. Kevin’s passion lies at the intersection of technology and finance, where he pioneers solutions that not only meet but exceed consumer expectations. His commitment to leveraging his expertise ensures impactful results and the building of lasting relationships in the digital landscape.
