Why You Should Consider Doing Your Own Taxes

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This post is part of the TaxAct #DIYtaxes blog tour which empowers you to take ownership of your finances by doing your own taxes. TaxAct provides the tools and guidance to help you confidently file your taxes easy and fast. Do your own taxes today at TaxAct.com

How DIY Tax Filing Has Changed

Do-it-yourself tax filing has come a long way in the last decade. When I did my taxes myself years ago, I regularly missed out on tax deductions and tax credits simply because the software that existed for DIY tax filers years ago wasn’t as easy to use as the online tax filing sites of today.

I would get frustrated with the process because I felt I needed to know just as much as a professional tax preparer in order to file my taxes in the way that allowed me to get the maximum tax refund I was entitled to.

It took me hours to get my return done as I worked to learn about claiming deductions and going through receipts.

Today, however, DIY tax filing is very different. Technology has come a long way and the online tax filing systems that are available these days have made it much easier to file taxes on your own.

No longer do you need to have a degree in accounting in order to file your own taxes online.  With online tax filing sites such as Tax Act, the hard work is done for you. Your job is simply to fill in the blanks as you’re prompted to do so. The newest in online programs are created for the average person to be able to use easily and efficiently – even if they’ve never filed online or used do-it-yourself tax software in the past.

Cost Savings

Another great benefit to DIY tax filing in today’s world is the cost savings that comes with using an online do-it-yourself tax filing site. Whereas having your taxes done by a local accountant can easily cost $200 or more, many online tax filing sites allow people to file their basic 1040EZ form for free or for a minimal charge.

Even if you need to file with a more complicated form with deductions, such as the 1040A form, prices are much more affordable than they are at most local accounting firms. With Tax Act, for instance, filing for itemized returns starts at just $24.99, which is dramatically less than what it would cost to pay a professional tax preparer.

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A Free Education

Another great thing about filing your taxes through an online DIY tax filing site is that you begin the process of educating yourself on the ins and outs of tax filing.

The more you learn and know about what it takes to file your own taxes, the more prepared you can be in future years to maximize your tax deductions and minimize what you pay in taxes each year.

Don’t believe for a minute that you don’t have the ability to file your own tax return. With professional online systems such as Tax Act, you have all the tools you need to learn to file your taxes on your own and save money and time in the process. These new programs walk you through each and every step, asking you what deductions you qualify for and giving reminders and recommendations so that you don’t miss a thing.

Try do-it-yourself tax filing this year and learn how the ease and convenience of DIY online tax filing can benefit you.

Beating the tax deadline doesn’t have to be stressful. With TaxAct, everything you need to confidently prepare and e-file your taxes is right at your fingertips. You got this. File your simple federal and state return FREE today with TaxAct.

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4 responses to “Why You Should Consider Doing Your Own Taxes”

  1. James says:

    Although I have been using a tax preparer for the last 18 years or so, I don’t mind paying for the convenience. There are some great points here about the value of DIYing, chief among them the cost savings which, of course, can be saved or invested.

    • Deacon Hayes says:

      Yeah, I used to do my own taxes until I realized the amount of time it took away from my business. I now pay someone about $250 to do them for me, but it frees up my time so that I can make money through my different entrepreneurial ventures. Doing your taxes yourself is great if you have the time and the patience to do it right, but it is not for everyone.

  2. Michael says:

    Hi Deacon,

    This is a nice post. For a person earning a regular salary it is pretty straight forward to follow the DIY approach. I have been filing my own taxes for well over 15 years now. Just like anything, it takes a little bit of learning. The advantage is not just cost savings. It is learning as well. The learning can be used for tax planning for the next tax year. If you have always been going to an accountant, the best way to get started is to do your own taxes, then take it to the accountant, and have him or her review it. If he or she determines that what you have done is correct, then you could do it yourself the following year.


    • Deacon Hayes says:

      Those are some great points. I like the idea of having an accountant check your work when you first get started doing your own taxes. Thanks, Michael!

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