10 Options for Doing Your Taxes…Yourself!

10 Options for Doing Your Taxes…Yourself!

Am I the only one who gets excited about filing taxes? Yeah, maybe I am. OK, I don't get excited about it either. Sorry.

Most people only think about doing their taxes with an accountant or CPA. Honestly, that is probably a good idea, especially if you have a more complicated return.

However, CPAs can be expensive, and if you simply have a “W2 job” and few assets or a business to take deductions around, doing your tax return yourself may be quicker, easier, and cheaper!

Below I've listed a list of possible do-it-yourself options to take a look at. Most of these companies even have free e-filing for simple tax returns.

If you do have more significant deductions or have more complicated returns due to dependents or investment sources, these companies charge a nominal fee.  

Tax Return Company Recommendations

1- TurboTax

This is one of the most popular tax filing services, and they are very well-liked for their ease of use. They offer free e-filing for forms 1040, 1040A, and 1040EZ.  The state tax return is included! If you have Quicken, this is a great option, thanks to tax tracking functions built in that line up with Turb Tax.  

They offer a paid package ($90) for self-employed tax returns, and the state return for self-employed is additional (currently $40).

2- TaxAct

This is a top pick for tax software when it comes to value.  You can file online or download their program.  Their e-file is free.  You will only pay according to the level of your expense complexity. For example, if you are a homeowner with a mortgage, you will upgrade to their deluxe version for $24.95.  If you are self-employed, you will pay the most, but it is less expensive than the same offering from TurboTax.

3- H&R Block

They offer free e-file returns for simple tax situations, regardless of income, through their website.  A very organized site and a trustworthy name to file your taxes with.  You can file 1040, 1040A, and 1040EZ forms with H&R Block.

4- IRS Free File

The US government is teaming up with numerous tax software companies.  You can file your taxes through their site for free.  Side note: they do have an income limit of $72,000 to file for free on their site.

5- 1040.com

Another great resource.  1040.com is straightforward and to the point.  They're a great option for singles who aren't itemizing.  The price is $25 for everyone, no matter how much you earn.

6- TaxHawk

E-filing simple federal returns are free with TaxHawk.  To file state income tax returns, they charge a nominal fee of $12.95.  However, if your income is less than $20,000, the state income tax return becomes free.  What's cool about TaxHawk is that they offer professional virtual assistance from a CPA for only $25.

7- LibertyTax

A more expensive option is LibertyTax.  They charge $45 for all 3 package options, which should cover all your possible needs.  You'll also get multi-channel support: chat, email, social, and in-person at 3000+ locations. And they offer online tax school courses!

8- TaxBack

This company has a unique way of filing taxes.  They don't state tax preparation prices, they prepare a price when your forms are complete.  From what I know, a TaxBack agent assists you during the filing process.  This may or may not be suitable for you.  I recommend TaxBack for anyone new to taxes and who could use some help.

9- ESmartTax

Another more expensive option is ESmartTax. These guys offer one price for 3 different packages, similar to LibertyTax. Recommended for anyone filing simple taxes. What I like about this company is that they guarantee that if there is an error in the preparation of your return that results in penalties and interest, they will reimburse you for the associated penalty and interest initially assessed.

10 – Taxfyle

Whether you’re an individual looking to file your taxes or an accounting firm looking to outsource tens of thousands of returns to domestic tax professionals, Taxfyle’s apps and APIs connect you with the right accountants to meet your needs.

Happy Tax Filing!