It is my favorite time of year...Tax Season! It is starting now, and if not now...real soon!
Some items not to forget:
- Grab a few little containers (or shoe boxes) and start organizing your receipts: box for work expenses; box for medical expenses; box for donations and charitable contributions; final pay stubs and a box for all those forms you receive from different places such as mortgage company, banks, church, etc... (and a box for other deductions, etc...you may need for Your tax situation...everyone is different.)
- Make sure on your donation receipts that you have listed in detail the items that were donated and that they were in "good" condition. Also, you can use ItsDeductible in TurboTax to figure the value. Many time ItsDeductible allows way more than I ever would have estimated myself. So I just (take the time) plug in one item at a time and ItsDeductible estimates the value and it is automatically transported into my TurboTax! I love it, it is Awesome!
- I always pay the little extra to E-file both the federal and state with TurboTax (federal is free) and for direct deposit (Direct Deposit, I don't believe costs anything extra...and it is worth using and you receive your refund faster than folks waiting for a paper check). I am a big fan of TurboTax and this is my sixth year using them. I also assist four other people with TurboTax on filing their taxes every year as well and they have been impressed and happy with them as well.
- Also, even if you don't have all your tax papers yet...you can still get logged into TurboTax and plug in your personal information and have that done. When you log out...TurboTax automatically saves where you are! I love it!
- If you feel like you Might Not need to itemize...I suggest starting with the Basic Program on TurboTax as you CAN upgrade at Any time during the process; however, you can Not Downgrade! (This is an unfortunate flaw...but just remember to start with the cheapest choice and if need be you can upgrade with no problem any time. The program will even tel you if it is a benefit to you to upgrade to get more money back. If you itemize...the Second package is what you need in order to use ItsDeductible, etc...)
- Another item to remember: If you use TurboTax and are unhappy with what you see...you don't have to pay ANYTHING! Just don't go through the final steps of filing! Its great...you can plug in everything and if you don't like it...don't file! You pay nothing to try it out!