As a business owner or homeowner, tax season can be a busy and stressful time. But it doesn’t have to be! By staying organized and using the right tools, you can make tax season a breeze. Here are three tools to help you out this year: free online filing services, tax calculators, and IRS online tools.
Free online filing services
Filing your taxes doesn’t have to be intimidating or expensive. Many free online filing services, such as turbo tax, are available for anyone with access to the internet and some basic information about their income. Services like turbo tax provide an easy-to-use format that makes filing taxes much simpler than ever before. The step-by-step instructions help guide you through the process and you can save and come back if needed; this means less pressure on getting everything done in one sitting. Plus, turbo tax guarantees 100% accuracy of your return when all information is reported accurately and honestly.
Knowing how much you owe in taxes or what your expected refund may be can be a helpful tool in budgeting for the year. A tax calculator can make quick work of this process by instantly generating estimated numbers for you. The accuracy of this estimate depends on the information that is inputted, so it’s important to ensure that the details are accurate and up-to-date if you want an accurate picture of your financial situation. If you own a business that qualifies for the ERTC, try using an ERTC calculator to learn how much you might be owed. An ERTC calculator will give you an estimate of the size of the tax credit you could receive this season if you retained your employees through covid!
IRS online tools
The Internal Revenue Service has numerous online tools to help taxpayers fulfill their tax obligations. From the income tax assistant tool to understand your filing status to the Free File program that offers free e-filing options for eligible taxpayers, these resources can make the complicated process of tax filing simpler to manage. The IRS website also offers calculators and withholding estimators that can help prepare a more accurate return while providing helpful tips on other topics such as retirement savings, health plans, and charitable donations. By utilizing the online tools available from the IRS, individuals can remain compliant with their federal tax services while taking advantage of all potential benefits and deductions.
When it comes to filing your taxes, there are a number of different options available to you. You can use a free online filing service, or opt for a paid service. You can also use an IRS tax calculator to help you determine how much money you owe in taxes, or how much of a refund you can expect to receive. The bottom line is that there are a variety of tools and resources available to help you with your tax return, so be sure to take advantage of them!