Thursday, March 22, 2012

Tax Returns Done!

Blam. My tax returns are sent off and done for another year. Just waiting for confirmation from State.

Here's how to do your tax returns theevildrsin way...meaning max efficiency balancing time, cost, and stress.

1) Get Turbo Tax, whatever edition best suits your needs. I split the cost with my GF. Install it on a functional computer. ;) Turbo Tax is worth the cost for a tax illiterate for me. It really does go step by step to minimize confusion and mistakes. It also checks your possible errors and audit risk. Also, it is great if you can carry over data from last year to speed things up. I E-filed the Federal returns and then promptly didn't worry about them anymore. Got confirmation the next day that it was accepted.

time/cost/stress
one hour data entry, one hour debating / 1/2 cost of Turbo Tax Premier + $6 gas to work on it at parents house / low stress aside from some debating.


2) E-file state tax returns. Turbo Tax charges $19.95 to E-file your state tax return. You can save that money and go the the post office if you want. I debated for awhile and decided to spend the money to e-file just for the experience. Plus I will consider the $19.95 a tax for filing state returns with no pants on. Seriously. Turbo Tax does not require you to set up an account (or wear pants) and does not charge extra fees aside from that $19.95. Then you have to go to your state's department of revenue website and make a payment if required for your taxes. No service fee if you do a bank draft. Best part is I will get an email confirmation from both places, something you don't get if you mail it in.

time/cost/stress

10-15 mins / $19.95 / very low stress, no pants.

Done.

Special shout out to my GF, Dad, Mom, and BroMad (TM) for advice, moral support, and food!

TurboTax Premier Fed + E-File + State Tax Year 2011 417416