So since ’tis the season, let’s talk about taxes. I believe that everyone can learn to do their own taxes and with websites like www.myfreetaxes.com and www.freetaxusa.com, it’s free and simple. We have come a long way as humans and anyone with a simple tax return can learn how to do it themselves.  

Below are other websites that offer free taxes prep software to people who qualify, the catch is you do the taxes yourself. Trust me and yourself, as I said I believe that everyone can learn to do their own taxes. Follow the directions and have the forms ready. If you make a mistake you can change it before you file the tax returns. If you get tired or it’s too much for one sitting you can stop the return, save it, and then pick it up again at another time. Just make sure it’s before the deadline of April 15, 2020!!

The all offer free tax filing if you meet the qualifications:

OLT State Free File – Federal Taxes and State Taxes Online

  • Adjusted Gross Income is between $14,000 and $69,000
  • Offer Valid for ALL AGES and ALL States
  • Active Duty Military Adjusted Gross Income $69,000 or under

Tax Act Free File

  • Adjusted gross income is $59,000 or less, and
  • 56 years old or younger, or
  • Eligible for the EITC, or
  • Active military and your adjusted gross income is $69,000 or less

IRS Free File program delivered by FreeTaxUSA®  

  • AGI $36,000 or less
  • Your AGI was $36,000 or less in 2019, or
  • Qualify for EITC
  • You qualify for the Earned Income Tax Credit. More Details
  • or you were Active Duty Military

OK, so you picked a website and now you’re wondering what you’ll need to prepare the taxes. 

Here are some of the basic things you’ll need:

  • Your social security number
  • Driver license/State ID in NYS and various other states -Check before you’re done filing so you have your ID handy
  • Current address or previous if you moved during the year
  • Bank account for direct deposit

To report Income you’ll need:

  • Last year’s tax return – you’ll need some numbers from the tax return
  • W2s – for reporting of employment income and taxes
  • 1099-DIV, 1099-INT – for reporting of interest and dividends received 
  • Brokerage statements – for reporting of stock sales
  • SSA-1099 – for reporting of social security income 
  • 1099-R – for reporting of retirement income 

To report Deductions you’ll need:

  • Donation receipts
  • Medical receipts
  • College payment receipts
  • Investment expenses 
  • Mortgage interest receipts
  • Local Taxes paid receipts

You may qualify for the standard deduction if your spending on the items listed under deductions is below the standard deduction. It varies depending on your filing status. Below is the itemized deduction limit and filing status.  

  • Single $12,200
  • Married, filing jointly $24,400
  • Married, filing separately $12,200
  • Head of household $18,350

It may seem like a lot but not all of it applies to everyone. This is a general idea of what you’ll need and the websites you can use to help you file for free or low cost. I personally prefer the IRS Free File Program delivered by TurboTax. You’ll see that once you do it, it isn’t that scary or hard. Good luck!!