Title: Why TurboTax is My Best Friend
Hey all, in the last half a decade, I’ve been using TurboTax to deal with my taxes almost exclusively. Only once did I have a crazy situation where I had W-2 forms from about 30 different states due to my time at the circus (true story!).
Most folks have a couple of jobs and live in the same state, perhaps moving once in a year right? But us, the go-getters, we chase opportunities and end up with a heap of tax forms that feel like a monster during tax filing season.
This year, I was keen to see how TurboTax would handle all my W-2s and 1099s. I accepted that free Federal tax software wasn’t for me anymore. So, how did it go?
Well, two hours and $104 later, my taxes were done. But here’s the best part – I got a decent refund for the first time in several years.
Sure, some people dislike the idea of a refund as if it’s lending money to the government for free. But with the interest rates these days, I might have earned, like, $3 on that amount in my savings account. Anyway, thanks to my W-2 settings being slightly higher, resulting in a bit more being taken out of my paychecks, my 1099 earnings were largely offset.
At the end of it all, it’s about what works best for you, isn’t it?
And guess what? My love for TurboTax is still as strong as ever. They guided me on which expenses I could deduct, significantly reducing my 1099 income (Psst…it turns out buying a Macbook last year was a smart move!). TurboTax made sure my freelance blogging and stage management gigs were recorded correctly in the 1099s, which was a huge help.
To top it all off, TurboTax double-checking software found me an extra tax credit I knew nothing about. If you earn modestly and still put away money for retirement, you could get a tax credit too!
Just outa curiosity, what do you use? Do you have an accountant, use software, or maybe DIY your taxes? (If you’re handling your taxes yourself, kudos to you!)
So there you go, that was my awesome experience with TurboTax. Share your tax season experiences below.
Tags: Freelancer income, how to handle taxes with 1099s and W-2s, taxes, TurboTax