Save Money on Doing your Taxes - Some even FREE

Out of Gas Newsletter - Issue 73 Feb.20, 2010

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Save Money on Doing your Taxes

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Before you work on your taxes, you want to make absolutely sure that you take advantage of a slew of tax credits this year. You can find the most comprehensive list (we could find) here - http://turbotax.intuit.com/tax-tools/tax-tips/irs-tax-return/5519.html

Links you can Use

Thinking about your summer vacation and flying - this article will give you some tips on being the frugal flyer.

http://frugaltraveler.blogs.nytimes.com/2010/02/16/click-it-and-ticket-booking-a-flight-the-frugal-way/

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Saving Money on Your Tax Preparation

I did a few calls around our area and if you go to one of the big guys (you know the one’s I’m talking about) - you can have your taxes done (even the simple one’s) for from $100 - $500. Why in the world would you pay that much when you could do it yourself…. for FREE.

First be aware that there are many places where you can get free tax help and free filing.

If you make less than 49k / year then you can get free Volunteer Income Tax Assistance. In order to get this free assistance you need to make sure that -

• You, your spouse and any dependents must be U.S. Citizens, Resident Aliens or
have a valid Individual Taxpayer Identification Number (ITIN)
• Returns will only be prepared for taxpayers with a total income of $49,000 or
less
• If filing a Married Filing Joint return, you and your spouse must be present
• If filing a Married Filing Separately return and your or your spouse live in a
Community Property state, we CANNOT prepare your return
• Social Security Number (SSN) information presented must match the SSN on
all Wage & Income statements (i.e. Form W-2, Form 1098, Form 1099, etc.)
• If your SSN information does not match your Wage & Income statements, you
will need to contact the issuer to correct those statements
• Verified ITIN taxpayers are exempt from this requirement

You can find out a location near your area by calling the following phone number -

To locate the nearest VITA site, call 1-800-829-1040

If you’re over 60 then AARP can help - check out this link.

https://locator.aarp.org/vmis/sites/tax_aide_locator.jsp

Less than 57k and want to do your taxes online then you can check out this url from the IRS - http://www.irs.gov/efile/article/0,,id=118986,00.html?portlet=6

No MATTER what your income you can file free online (without any ‘assistance’) by going to the following url.

https://www.freefilefillableforms.com/FFA/Gateway.htm

IF you do decide to go with one of the big guys PLEASE DO NOT get a loan or advance payment, because you are just flushing your money down the drain.

Have a wonderful weekend.