top of page
Search

Learn to do taxes easier and quicker than ever before!

  • Writer: Camden Chen
    Camden Chen
  • Nov 19, 2021
  • 2 min read

Updated: Dec 17, 2021

Taxes are a pain for many, but that wound is much more deep for those who don’t have an understanding on how to do them in the first place. Luckily, here is a beginner step by step guide on how to get you through your taxes


ree

Getting started

While you can do taxes with paper, it is much easier to do it online. Your social security number (a nine digit code that verifies that it is you), W-2 or 1099 form (Employment), and documents displaying any other sources of income (stocks, bonds, trust funds, real estate,) should all be ready. TurboTax and H&R Block are the two main tax filing services. The IRS (government) also has a tax filing service.


Using TurboTax


ree

When signing up for TurboTax, there will be a straightforward questionnaire. It will ask a variety of “tax” questions to determine whether or not you are allowed for their free service. If you only have one source of income, then that means that you are likely eligible for TurboTax’s free plan. Otherwise, you will have to pay up to $90 if you have multiple forms of income. These plans are likely easy for those who have tax experience. However, beginners may want to consider TurboTax’s $170 plan that connects you with a licensed tax expert. Using TurboTax will give you a step by step plan that's best for you.


Using H&R Block to file your taxes


ree

For H&R Block, there is the choice to work alone, or to work with a tax professional. If you choose to work alone, then there are four options:

  1. Free Online ($0): This option is for students, W-2 employees, or people who are unemployed. Free Online provides a limited number of features.

  2. Deluxe (29.99 + 36.99 per state): This option includes all the features of Free Online, but also helps with a tax organizer, support, a Health Savings Account, real estate and home mortgage interest, and self-employed income.

  3. Premium (49.99 + 36.99 per state): This option includes all the features from Deluxe, but also includes stock, bond, and cryptocurrency sales. In addition, it gives the feature of claiming rental income and deductions.

  4. Self Employed (84.99 + 36.99 per state): This option includes all the features from Deluxe, but also includes small business deductions and all business deductions and asset depreciation.

H&R Block will provide a plan based on the deal that you purchased. H&R Block is also available on Amazon to download if


Using IRS to file your taxes

Using the IRS to file taxes is only for those who have an income of less than 72,000, and it is called IRS Free File. It is free and you can connect to people to help you. Furthermore, it will help you through all the steps and the calculations needed. The website may seem basic, but it provides everything you need.


What’s recommended

Using the IRS to file your taxes is a great choice for beginners, people who have an income less than 72,000, and college students. While it is free, it is only for those who have an income less than 72,000 which limits many who can use it. TurboTax is also a trustworthy brand to help people with their taxes. It can personalize what is needed for you. H&R Block also provides a variety of plans for different people.


Sources






 
 
 

Comments

bottom of page