E-Filing is the easiest way to get your taxes done, especially if you take advantage of the free or incredibly affordable software we’ve suggested here at EasierTaxes. Even so, there are a few important things you should keep in mind before you start. Let’s take a look:
#1 How to Decide on Which Software You’ll Use
#2 What Financial Information is Necessary
Just like if you were filing your taxes physically or hiring an accountant, you’ll still be responsible for gathering all of your financial information for the year. How much did you make? Did your business suffer any losses? These are the kind of things you should have on hand before sitting down with your tax software—if you’re well organized and have all of this information ready to go, filling everything out with the help of your tax software will be a cinch.
#3 Which Items You Can Deduct
As helpful as tax software is, it doesn’t know about that new computer you bought for your business six months ago—you’re going to have to tell it before the software can add it to your list of deductions. Go through your receipts for the year and set aside everything you can use as a deduction. This can be time consuming, but the good news is that the process of entering these items into the tax software will be much, much easier than doing it all by hand with physical paperwork!
#4 Whether Or Not You’ll File Early
Whenever possible, you should always try to file your taxes early. The same is true for filing your taxes online! Not only will this help get the headache of doing taxes out of the way—and avoid the “Oh boy, it’s April 1st!” scramble—you’ll also get your tax return much faster.
#5 Always Double Check Everything!
Even though there isn’t an easier way to file your taxes than doing them online and with the help of software, do take the time to double check all of the numbers you input. Before e-filing your taxes, go through everything you’ll be submitting and make sure you entered everything correctlySocial tagging: Deductions > E-Filing > Filing Taxes Online