Piggybacking on my earlier post, Yahoo’s Personal Finance has a syndicated article titled Steer Clear of Tax Cons written by Dayana Yochim that shows the pitfalls of “instant refund” tax programs, among others. The article provides a great summary of why it’s not a good idea to use these services for most people. Sure, there are legitimate business that provide a service- and for many people it’s fast, simple and effective. But you are paying far too much for this service! Why not do it yourself instead? I’ve been doing taxes myself for many years with helpful programs like TurboTax from Intuit. Instead of paying commissions and fees to someone else- spend the money on some basic tax software for your home computer! (Or you can do it online as well). It will probably cost less overall, and will provide an excellent tool to gain knowledge and a true picture of your tax situation. Most taxpayers do not have complicated financial lives, or tax situations. Do-it-yourself tax software is easy to use, and provides a year-to-year historical record as you use the software over time. I’ve been doing this for over 15 years. In some ways, I find the tax software applications almost “too easy” because it takes so much of the work out of it.  There are many valid reasons to use a professional tax-preparer such as a CPA of course. Time, complicated financials or business issues may be more than you want to tackle personally- and that is understandable. But most of the “instant refund” tax services are not professional tax services, and most taxpayers do not need expensive professional consultation. There are several excellent tax software applications- do a Google search and you’ll find one to meet your needs. Filing is simple and quick- and you can get your refund in days. It’s an invaluable tool and time saver… it really is not difficult.  Anything that makes my life simpler and more productive is a good thing!
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