Tax season is here in full swing, and last week the IRS announced that all taxpayers (including those who itemize) are now free to file their returns. Fewer than 20% of Americans prepare their returns without a tax professional or software. For everyone looking for help this tax season, take heed the following tips.
At one point you may have even felt smugly superior when you read the headlines about lay offs, reductions in force, and historic job loss rates. Valued employees don’t lose their jobs; reductions in force are just a handy way to get rid of the “dead wood.” And besides, even if you did lose your job, someone with your skills and experience will be snapped up right away. Corporate America has been waiting for you to be available. Extended unemployment is only for the people that don’t really try.
So if you do business license, your #1 problem may be “How to Save Thousands on Your Next Tax Return.” Yes, I know, it’s odd to see that instead of your business name prominently displayed on your business card, but like I said, I break all the rules. When it comes to marketing, I don’t conform to “pretty looking.” I tend to go with what actually works instead.
Let’s start with the most popular free software, Turbo Tax. This free software can be downloaded online easily and quickly from Intuit’s website and it is very easy to use. Unfortunately, Turbo Tax free edition will only allow you to file simple forms like the 1040EZ, but it doesn’t include all tax forms like the deluxe or premier edition which are not free. This free edition will also constantly push you to upgrade to the commercial edition, but if you don’t mind the constant advertisements, this is a great software that will quickly file your federal taxes for free and your state taxes for a low, one time fee.
Everyone who comes into this game will have different advantages and disadvantages. Some will have business and marketing background, but much will not. From my experience most of the recruited are people who believe in the easy money ideas, where they think they’ll make money without working, or of course the get rich quick. Needless to say, if these people have marketing or sales skills, it’s likely it’ll be very little.
Take note: this transcript is not a complete photocopy of the actual return. Rather, it’s a streamlined version that simply lists the line items and dollar amounts. According to the IRS, this transcript will show most line items contained on the return as it was originally filed, so it will likely provide what you need to satisfy a lender or to amend a return via Form 1040X.
Ultimately, you as a taxpayer are responsible for the veracity of your income tax return, so finding a reputable firm is key. Consider choosing a nationally recognized “retail” tax preparation service with a convenient Milwaukee location. You’ll have the security of knowing that the chain is well-established and has some solid corporate standards for its income tax preparation service.
According to the annual reports of many MLM companies, along with research done by numerous tax preparation services, only 1-2% of Multi-Level Marketers earn substantial incomes.