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Is filing your taxes on your own worth it?
Tax time is here, and as such, you may be wondering if you should shell out hundreds of dollars or more to have a professional file your taxes for you. After all, there are several resources online and some of those resources are free.
The complexities of the U.S. tax code may make it difficult to navigate, though. And if you file your own taxes and make a mistake, you could face penalties.
So, is it worth it to file your own taxes or should you consider reaching out to a professional?
Get started with e-filing your own taxes now.
Is filing your taxes on your own worth it?
So, is filing your tax return on your own worth it? For most people, the answer is yes. Here’s why:
It can be easy to file your own taxes
You don’t have to understand the complexities of the U.S. tax code to file your own taxes — thanks in large part to tax preparation software solutions. And, these solutions, like TurboTax and TaxSlayer, have helped millions of people successfully file their annual tax returns.
These programs guide you through the tax filing process by asking a series of simple questions to better understand your return. Once you’ve answered the questions, the software does the hard work for you. So, you won’t have to know the ins and outs of the U.S. tax code, making it easy to file your own taxes online.
Find out how easy it is to file your taxes with TurboTax.
You may be able to file for free
Filing your taxes with a tax preparation professional can be costly, but you may be able to file your taxes on your own for free. For example, in the six years leading up to 2023, TurboTax helped more than 70 million Americans file their annual tax returns for free.
And, TurboTax says that around 37% of tax filers qualify to use the company’s free service. If you do have to pay, though, the prices for the service are relatively affordable — ranging from $89 to $169.
You’re guaranteed the best potential return
Some leading online tax preparation solutions will also offer a maximum refund guarantee. For example, the TurboTax guarantee states that “if you get a larger refund or smaller tax due from another tax preparation method, we’ll refund the applicable TurboTax federal and/or state purchase price paid. (TurboTax Online Free Edition customers are entitled to a payment of $30.)”
And, the TaxSlayer guarantee states that “if you are a registered user of TaxSlayer and you receive a larger refund or pay a smaller tax due amount using another tax preparation software product, we’ll refund the applicable purchase price you paid to TaxSlayer.”
How to find the best tax preparation software
One of the best ways to file your tax return on your own is to use good tax preparation software. Here’s what you should look for as you compare your options:
- Reputation: It’s usually best to choose a software solution that has a strong reputation among its users. Solutions like TurboTax, TaxSlayer and H&R Block are popular options to consider.
- Price: In some cases, you may be able to file your taxes for free. If you don’t qualify for a free service, you can compare prices to find your best deal.
- Capabilities: Some tax prep solutions may be better for personal use while others may be better for companies. Compare the capabilities of each software solution to determine which is best given your unique filing circumstances.
The bottom line
Tax preparation doesn’t have to be difficult. In fact, with today’s software solutions, filing your own tax return can be relatively simple. Compare today’s leading software solutions to file your own taxes.
CBS News
Former Trump national security adviser says next couple months are “really critical” for Ukraine
Washington — Lt. Gen. H.R. McMaster, a former national security adviser to Donald Trump, said Sunday that the upcoming months will be “really critical” in determining the “next phase” of the war in Ukraine as the president-elect is expected to work to force a negotiated settlement when he enters office.
McMaster, a CBS News contributor, said on “Face the Nation with Margaret Brennan” that Russia and Ukraine are both incentivized to make “as many gains on the battlefield as they can before the new Trump administration comes in” as the two countries seek leverage in negotiations.
With an eye toward strengthening Ukraine’s standing before President-elect Donald Trump returns to office in the new year, the Biden administration agreed in recent days to provide anti-personnel land mines for use, while lifting restrictions on Ukraine’s use of U.S.-made longer range missiles to strike within Russian territory. The moves come as Ukraine marked more than 1,000 days since Russia’s invasion in February 2022.
Meanwhile, many of Trump’s key selection for top posts in his administration — Rep. Mike Waltz for national security adviser and Sens. Marco Rubio for secretary of state and JD Vance for Vice President — haven’t been supportive of providing continued assistance to Ukraine, or have advocated for a negotiated end to the war.
McMaster said the dynamic is “a real problem” and delivers a “psychological blow to the Ukrainians.”
“Ukrainians are struggling to generate the manpower that they need and to sustain their defensive efforts, and it’s important that they get the weapons they need and the training that they need, but also they have to have the confidence that they can prevail,” he said. “And any sort of messages that we might reduce our aid are quite damaging to them from a moral perspective.”
McMaster said he’s hopeful that Trump’s picks, and the president-elect himself, will “begin to see the quite obvious connections between the war in Ukraine and this axis of aggressors that are doing everything they can to tear down the existing international order.” He cited the North Korean soldiers fighting on European soil in the first major war in Europe since World War II, the efforts China is taking to “sustain Russia’s war-making machine,” and the drones and missiles Iran has provided as part of the broader picture.
“So I think what’s happened is so many people have taken such a myopic view of Ukraine, and they’ve misunderstood Putin’s intentions and how consequential the war is to our interests across the world,” McMaster said.
On Trump’s selections for top national security and defense posts, McMaster stressed the importance of the Senate’s advice and consent role in making sure “the best people are in those positions.”
McMaster outlined that based on his experience, Trump listens to advice and learns from those around him. And he argued that the nominees for director of national intelligence and defense secretary should be asked key questions like how they will “reconcile peace through strength,” and what they think “motivates, drives and constrains” Russian President Vladimir Putin.
Trump has tapped former Rep. Tulsi Gabbard to be director of national intelligence, who has been criticized for her views on Russia and other U.S. adversaries. McMaster said Sunday that Gabbard has a “fundamental misunderstanding” about what motivates Putin.
More broadly, McMaster said he “can’t understand” the Republicans who “tend to parrot Vladimir Putin’s talking points,” saying “they’ve got to disabuse themselves of this strange affection for Vladimir Putin.”
Meanwhile, when asked about Trump’s recent selection of Sebastian Gorka as senior director for counterterrorism and deputy assistant to the president, McMaster said he doesn’t think Gorka is a good person to advise the president-elect on national security. But he noted that “the president, others who are working with him, will probably determine that pretty quickly.”
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Sen. Van Hollen says Biden is “not fully complying with American law” on Israeli arms shipments
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Rep.-elect Sarah McBride says “I didn’t run” for Congrees “to talk about what bathroom I use”
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