My friend visited her potential tax preparer with JUST THREEsimplepieces of tax information:
her Social Security Income (Form SSA-1099),
her Pension Income, and
interest earned from her bank (Form 1099 INT).
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After inputting her information, her tax preparer informed her that the cost to prepare and file her federal tax return was: $274.00
Yikes !!! The cost was $274.00 for inputting …
JUST
THREE
PIECES of
income information
PLUS her name, address and social security number.
This tax preparer works for a reputable firm…
…BUT the services rendered DO NOT JUSTIFYthe preparation cost of $274.00 !For inputting information from just three (3) tax forms.
This incident is sad, very sad.
And is repeated thousands of times every day.
This happens all across our nation.
This is common practice at the Big Box stores who prepare income taxes.
Unfortunately, the tax preparer does not have any flexibility regrading the fee. And each piece of financial information may generate multiple tax forms. And each form costs you an additional fee.
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My moment of truth: I used to be one of these registered tax return preparers with a PTIN. I wanted to help people prepare their tax returns and to earn some extra income during the tax season.
Until, after months of training, I actually started preparing some tax returns. I didn’t last very long. (Maybe I completed eight or so tax returns. But I felt like I was scamming uninformed people.)
The last tax return that I completed, the young lady saw her tax return and the fee for servicesand asked me, “What should I do?”
I asked her, “Do you own a computer?”
“Of course,” she replied.
Then I whispered to her, “Go home. Download an online tax prep program. I prefer TurboTax. And do your own tax return. It doesn’t take a genius to do your own taxes. Do your taxes yourself. Save yourself several hundred dollars.”
I just couldn’t lie. Of course, I resigned that day. Because I could not promote something that I would not use myself. Nor could I recommend this paid tax preparation service to my friends who had basic computer skills. Not at those fees.
I was just not offering enough value to justify those tax preparation fees. I was just putting numbers in a computer program. That my customers could do themselves.
Especially when a person has other reasonable choices.
I remember a different time.
When I was younger, my parents had a business and used a paid tax preparer which was necessary and appropriate during that time with no access to computers and tax software.
Our family had no other reasonable choice but to use a paid tax preparer. But today is much, much different.
You have several different choices to download online tax preparation software. And to do your own taxes.
Unless your financial and tax situation is complicated, you should do your own taxes. It doesn’t take a genius to do your own taxes. Not anymore.
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Back to my friend at Panera Bread…
Back to my friend’s story at Panera Bread. And her $274.00 tax preparation fee.
I explained this to her.
“The tax preparing firms charge a fee for EACH tax form that is generated. Remember, EACH PIECE of your tax information may create SEVERAL DIFFERENT tax forms. Then their tax software generates the total tax prep fee automatically.
So the average tax payer is at the mercy of the tax firm and the fees that their tax software generates.”
Legal Note: Know this about Walmart tax preparation! All of the tax preparers at Walmart are TRAINED to do their jobs, and each tax preparer has her PTIN (Preparer Tax Identification Number)and is registered with the IRS.
That is NOT WHY – you SHOULD NOT file your taxes at Walmart.
There are other MORE IMPORTANT and personal reasons.
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It doesn’t take a genius to do your own taxes.
Here are 3 reasons why you should file your own taxes. And NOT file your taxes at Walmart.
… in preparing your taxes. Yes. You can TRUST the tax preparers at Walmart to keep your information confidential. I’m NOT talking about professional confidentiality.
I am talking about PRIVACY. Not having other people invade your “private space” while you are discussing something as IMPORTANT and PERSONAL as your PRIVATE finances and taxes.
I do NOT want to prepare my taxes in the cubicle atmosphere at Walmart.
It feels like taking a shower in public.
I want the PRIVACY of my home or someone’s office WITH A CLOSED DOORon that office. So that my spouse and I are discussing our finances in PRIVATE.
You deserve to do you own taxes in the privacy of your home.
It doesn’t take a genius to do your own taxes. Not anymore.
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so you don’t miss ANYthing
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2.) You deserve more CONVENIENCE…
… in preparing your taxes. Well, you say that Walmart is convenient for you to have your taxes prepared. But can you start and stopthis process at your convenience while sitting with a tax preparer at Walmart ? No, you can’t.
You still need to gather ALL of your documents BEFORE visiting with this tax preparer. And, hopefully, this entire tax preparation process is completed BEFORE your spouse is done shopping.
Otherwise, your spouse and your children are WAITING while you complete this process. Not very convenient at all.
And you know how that will work for you. Good luck with IMPATIENT children WAITING after an hour of shopping at Walmart. You deserve MORE CONVENIENCE.
You can do your own taxes. In the convenience of your home.
Do your own taxes. And do it on your schedule. At your convenience. Click hereto see how convenient it is to do your own taxes.
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3.) You deserve MORE CONTROL…
… in preparing your taxes. If you use computer software (TurboTax) to prepare you taxes, you will have MORE CONTROL in doing your taxes. And you will become more knowledgeable and more prepared to file your taxes next year.
You will get to review important financial information. To put you in control of your finances.
MORE CONTROL over your financial life ! Isn’t that what you want ? MORE CONTROL !
What could be more important financially than KNOWING how your taxes IMPACT your life ? And being armed with this knowledge, you are now better prepared to file next year’s tax return.
You are IN CONTROL of filing this year’s tax return AND prepared to file next year’s tax return !!
* * * * * *
YOU HAVE CHOICES
If you are a Walmart enthusiast…
… and loyal shopper at Walmart, you have ANOTHER CHOICE. Stay loyal to Walmart; and still enjoy the PRIVACY, CONVENIENCE, and CONTROL of filing your TAXES ON YOUR OWN.
Buy TurboTax online through Walmart. And prepare your taxes from the safety and comfort of YOUR OWN HOME.
And, for the rest of the year, you can use Quicken and QuickBooks to manage your personal and business finances – purchased from Walmart. And stay loyal to Walmart. If you want.
And control. Did I mention that YOU are in control?
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1.) YOU save time …
… by just taking a picture of your W-2 with your phone. Click here to see how this works. And to learn about Absolute Zero.
And by importing information.
When you use TurboTax, you save time by importing informationfrom Quicken and QuickBooks directly into your TurboTax 2015. And, like cyber magic, you instantly save time and reduce the possibility for data entry errors.
Learn about…
TurboTax for your income tax,
Quicken for your personal finances and
QuickBooks for your business accounting. Below.
TurboTax (from Intuit) may be linked to Quicken (personal finance and money management software) and QuickBooks (accounting software for small businesses).
Importing your information from Quicken and QuickBooks saves you timeand minimizes data entry errors. Just follow the simple online instructions.
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2.) YOU transfer …
You can transfer last year’s tax return information into this year’s TurboTax 2015. Last year’s information from TurboTax will auto-populate into this year’s tax data. Simple and easy.
This saves you time. And transferring information ensures accuracy and consistency year after year.
Why not make doing your taxes simple, boring, consistent ? And fast? Why not?
In this case, boring is a good thing.
Note: TurboTax will even transfer your signature info preventing an efile rejection caused by an incorrect PIN.
. . . . . .
* * * * * *
3.) YOU. Are. In. Control.
TurboTax is easy and fast. And YOU. Are. In. Control.
That’s why I use it. TurboTax is quick and easy. It is as easy as “telling the financial story of your 2015.” Just answer the questions that TurboTax asks you.
TurboTax is convenient.
And puts you in control.
You are in control of when you do your taxes. In the privacy of your home. At your pace. On your time schedule. Not at someone else’s office. And not in a noisy, impersonal Big Box store.
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Bonus Reasons
And here are some bonus reasons why you should do your own taxes. Remember, it doesn’t take a genius to do YOUR OWN TAXES.
You keep your private information. PRIVATE.
You save money by doing your own taxes.
It’s easier than you think.
You’ll get your refund faster.
You’ll increase your income tax IQ. Important for this year and many following years.
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You’re busy. And your life has its demands.
Helping your children with their homework.
Soccer practice.
Dinner time.
And more …
No problem !
Start and stopyour tax preparing process at your convenience. Not at the convenience of some impersonal tax preparer. See the demo here.
Just continue your story of 2015 in TurboTax – in the safety and comfort of your home. On your computer or on your mobile device.
And you definitely do NOT want to do this in a cubicle of some Big Box storewith the whole world watching and listening. And prepared by a part time individual.
What’s up ? Hey, I’m NOT your CPA; but here’s what I am.
This old man has spent more than five decades in the business world. The majority of my corporate experience has been as an investment advisor with a major Wall Street firm. And during my corporate career:
I earned my MBA in Accountancy at age 57,
I taught Computerized Accounting at the University level, and
I became registered ( P T I N) with the IRS to prepare U.S. Federal Tax Returns.
So let’s talk straight. Let’s talk about your taxes.
Now. Let’s start again with the MAJOR reason to file your 2015 income taxes early.
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1.) You DESERVE to get this task off your mind.
You deserve this freedom.
Not many people talk about this point. Just get it OFF OF YOUR MIND. File your taxes early to set your mind FREE for more productive and fun reasons.
It doesn’t take a genius to do your taxes. Watch video.
But it does take genius tax software. Designed to be so simple that your kids could do your taxes for you. Now that’s genius.
Do your 2015 income taxes early.
You deserve the freedom, the peace of mind.
You are worth it.
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You know how an undone task – like filing your income taxes – creates MENTAL CLUTTER. Mental clutter that is constantly nagging in your head. Clogging your brain with unnecessary background noise. This nagging unfinished task sucks all the energy out of you.
And the closer you get to that important deadline of April 15th – the more distracting this undone task becomes. The louder the nagging background noise becomes.
And if you’re like me – just STARTING relieves a lot of emotional pressure. Just getting this done TRUMPS ALL of the other solid financial reasons for filing early.
Take it from someone who has filed personal income tax returns for more than 40 years. Do it now. File your income taxes early.
A real “duh” financial reason. If the government owes you a return on taxes you have paid, file early and get this money WORKING for you – or “PLAYING” for you. Plan that SPECIAL vacation. Early.
Plan that special vacation – that escape to the islands.
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3.) You will get EXTRA TIME to pay a balance due…
… by doing your income taxes early.
Ugh ! And if you owe a balance due to the IRS, then you know that final number today. Not tomorrow. So you can plan – or make arrangements to pay the IRS.
Know this number in advance so that you are NOT STRESSING unnecessarily.
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4.) You will get IMPORTANT FINANCIAL INFORMATION needed for other purposes…
… by doing your income taxes early.
Purchasing a home or returning to college ? There is information on your 1040 that you or your children need to apply for a student loan.
And prospective home buyers often need to show a COMPLETED TAX RETURN as proof of household income.
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Again the MOST IMPORTANT reason …
… to file your income taxes early is (#1) to get it off of your mind.