How to Do Your Own Taxes (and Save some Money!)

It may seem terrifying at first, but you can learn how to do your own taxes. Let's take a look at what forms you'll need to fill out, tax credits and deductions you can take, and your filing options. You can DO this!

Organize Your Tax Forms

Here's a list of all the forms you'll need: 1. W-2s and/or 1099s  2. Last year’s return 3. Interest statements  4. Records of contributions made to health savings and retirement account

You can look at the available tax deductions and tax credits. A tax deduction is something that lowers your taxable income, and you want to take as many as you legally can!

Look at Deductions and Credits

Choose Your Method

One of the most important things to consider, is what method to use to do your taxes. Doing your own taxes can seem complicated, but some methods can make things easier.

One of the easiest ways to do your taxes is to use online tax software. Popular programs include TurboTax, H&R Block and TaxAct. Online programs let you plug in your information from your tax forms, and they make it simple.

Online Tax Software

IRS Online Forms

If you don't want to have to pay to file taxes but want to do them on your computer, you can use fillable forms on the IRS website. The forms have instructions to help you fill out the forms correctly. The IRS forms are a good option for simpler taxes.

Another option to consider when deciding how to do your own taxes is to use paper. The forms are free to download and print, and you can do your taxes whenever.

On Paper

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