My taxes are straightforward should I do them myself

My taxes are straightforward should I do them myself?

Some tax returns are very straightforward and if you feel comfortable doing your own taxes, then there is no reason why you should not do your taxes yourself.

No complicated income, tax deductions or credit

A large number of taxpayers do their own taxes, even if they are not straightforward. If you have W-2 forms and no investments or tax deductions to itemize or no tax credit to claim, your taxes should be straightforward and easy to do.

Complications arise when you don’t want to take standard deduction but prefer to take itemized deductions or if you have many types of investments and losses to offset gains. Tax credits will also make your taxes less straightforward.

Use tax software to do your taxes

Nowadays, there are very user friendly tax software such as TaxCut by H&R Block which will help you prepare your tax return as well as efile it if you want to. The tax software will also take care of your state tax return if your state requires you to file one. Click here to try TaxCut software  for free.

With the help of the TaxCut or other tax preparation software, you will be able to do your own taxes very easily. The tax software will go through the questionnaire to determine what tax credits or tax deductions you are able to claim from the IRS as well as that your tax filing status should be and more. By doing your own taxes (if you have time) you will save a substantial amount of money.

Tax Questions is a resource and information website only. We do not offer individual advice. For specific tax questions and answers, you are advised to consult your tax attorney.