How I file my income tax/Carlos Pueblo
If we don’t
make very much income in a year, actually it’s quite easy
for us to
file the income tax. First, we need to find the software to do
the job
either e-filing or paper in mail return. The simple one is free
that we can
get it on internet any time. It is 1040A which is adding up
the income
of salary, interest, and dividend in a year, then the software
will apply
the standard deduction to it and all the calculation and benefit
will be shown
at the end such as earn income credit, etc.
If the business
income is also included, schedule C, or rental income,
schedule D,
we need to have the next level of software to tackle with the
application.
I used to purchase the deluxe edition and then, I got free one
from friends
until this year. It is still very simple to input the data and get
it done. It
is very effective nowadays to apply almost anything on line and
the software
is quite advanced and user friendly.
My son
Arthur’s return is the basic one only W-2 income, 1099-dividend,
and small
amount of 1099-interest. I have had small business income to
file
schedule C; therefore, I need a deluxe edition while my daughter
Michelle has
rental income and security trade, needs premier edition.
She also has
four different states income required to be filed.
Most of us
don’t have huge income a year, we can file our own income
tax return
by ourselves. Save the accountant fee for retirement plans,
as a matter
of fact, contribute to our pension will be better off in a long
run and get
the most benefit out of it.
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