No one likes getting hit with a hefty tax bill. For those of us who are watching every dollar closely we don’t want to wait until April 15th to file if we’re getting a refund either. The solution? Free and secure online programs by TurboTax and H&R Block. You can enter your income and other info from your W-2, and any childcare or other large deductions to have a general idea of whether you’ll have to pay any sizable amount. The advantage is that if you’re going to owe a lot you have 2 months from now to make plans for it and relax a bit about finishing up those free returns. If it looks like you’ll be getting a refund, it’s a good kick in the pants to go ahead and finish up the return so you’ll have your money faster.
I used TurboTax for years to file our taxes, and the last couple of years I did our taxes I’d just do it online rather than buy the box at the store and still have to download updates. You can start with the free version and if you have a more complicated tax situation it will recommend the version that best suits your needs.
While I don’t have any experience with the H&R Block software, I know many people that use it and I’m sure it works in a similar manner. The best thing about both the programs is that if you do need a different version for your tax situation- you pay nothing until you file! That means if you end up deciding that you’d rather have a CPA do your taxes (we do since we have personal, business, and rental income on top of filing in two different states each year) you don’t lose a dime!
TaxAct offers completely free returns, no matter how complicated your tax situation may be. I used the TaxAct software one year and didn’t find it as easy to use as TurboTax. But free is free!
Are you wondering if you’ll get a refund this year? I’ve already plugged our info in on TurboTax and after reducing our withholding last year we’re still getting a decent refund that should finish paying for our Disney trip this spring!
What will you do with your potential refund?
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