Friday Flight - A Credit Win For Renters, Fake Free Filing, & Garbage Furniture #783

Free Filing

Tax season is here, and it's crucial to understand your options for free tax filing. Joel Larsgaard highlights that Turbotax can no longer advertise its products as free due to an FTC ruling, as most users didn't qualify for the free service. However, there are truly free ways to file taxes, such as the IRS's new Direct File program, although it's currently limited to basic returns in twelve states 1. Matt Altmix adds that simplifying life tasks, like creating a will, can also be made easier with digital tools 2.

Turbotax for one, is no longer able to advertise their products as free, according to a new ruling from the FTC.

--- Joel Larsgaard

While the IRS's Direct File program has limitations, it's a step towards more accessible tax filing options 1.

   

Professional Help

For those with more complex tax situations, hiring a professional might be the best route. Matt Altmix mentions that while free options like Cash App Taxes and Free Tax USA are available, they may not cover all complexities. The average cost of hiring a tax professional is around $220, but they can often save you more by identifying deductions you might miss 3. Additionally, Joel Larsgaard advises e-filing to expedite the process, especially if you're expecting a refund 4.

It might definitely be worth it to hire a pro, because this is one of those instances where you might be cheap rather than frugal.

--- Matt Altmix

Ultimately, the choice between free filing and professional help depends on the complexity of your tax situation and your comfort level with the process.