expired Posted by the-press-box • Jan 2, 2025
Jan 2, 2025 10:13 PM
Item 1 of 1
expired Posted by the-press-box • Jan 2, 2025
Jan 2, 2025 10:13 PM
H&R Block Deluxe + State 2024 Tax Software w/ 1-Year Bitdefender or Malwarebytes
& More (PC Digital Download)$23 each
$46
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The software handles the math complexity and it is not a concern for me at all. Individual taxes are not really that complex. Even mine with multiple businesses and investments of every sort are not that bad.
A just get them done mentality can cost you millions over a lifetime. The things you need to do and think about are not all that complex and are not on tax form till year end.
Your taxes are not done when you file a 1040 form it is only a calculation and remittance of what you owe in taxes for the previous year. The important and maybe a bit more complex than filing in a return is what you did or did not do with your money in that previous year. Your tax situation is living and breathing thing that is affected by what you do with your money during any given period and it is never done.
You may find that you made a horrible mistake if you wait to tax time to find out. If you just file a form at year end and think you are done you are setting yourself to lose money by way of paying more taxes than you need be.That is the knowledge I am stressing as necessity if you want to get a bit ahead of the game.
Some of this government doing.The refund game they play with those that get W2s is a brilliant and slick psychological one to get as much from the taxpayer as possible and have that taxpayer walking away thinking they won.
The file it and forget it taxpayer pictures they have won somehow by getting something back when they got nothing back at all and just paid more than they had to. The once year fill in the the form and get it done taxpayer has ignored information and resources that could have saved them thousands and ignored ways to pay much less .
People say they got money back when that is not the case and they may have been able to cut a tax bill in half or more. Paying attention to their overall tax policy, finances and your personal tax picture is where focus should be, April 15th is easy in comparison. We do note need to know the whole intricacy of the whole tax code but it means we must think about finances some if you do not want to end up poor. Some reading and research is all that is needed.
That is what I am talking about when I say you must understand your taxes if you do not want to play a suckers game. In today's world it is easy to do what I advise if people would just take the time to investigate the tax code and its opportunities. There are millions of resources and sites that can help do that and that was not always the case. Used to be kind of secrets to the upper-class that had accountants and lawyers but with some common sense it is all very DIY now.
Taxes should be generally easy if you have the basics of financial literacy down. You shouldn't be worrying about filing in a form as that is easy the easy part but be worried and concerned about your overall financial and tax situation and how that plays out during any given year or years as it can cost great sums of money.
You can't always fix things have been overlooked when it comes time to file the 1040. I can't tell you how many people i know or have heard that have taken 401K withdrawals or did not sign up for one and pay very significant costs. Tax time is the easy part the rest of the year is where the care, work and research should be done.
It is not easy and I have no disagreement with you at all on that. I only say once you make the decisions plugging the numbers in the software to generate a return is pretty easy if you have all your documents and numbers together.
That kind of stuff has real and sometimes terrible long term impact on people, we are talking homelessness and extreme poverty kind of tragedies. The public has to sharpen up on financial literacy and in general about finances overall. When I see the numbers of people that decline 401Ks it makes me despair. Rich people can waste money poor people can't yet they do.
Recently in a neighborhood forum some elderly lady that lost a husband was having trouble paying the mortgage and making end meet. She wanted to pay the mortgage off to minimize monthly expenditures and instead of taking a loan against her government retirement plan she pulled money out and I think was hit with near a 30% tax and penalty and now does not have the money to pay that. She did absolutely no research or reading about the implications of her decision that now has her in in a precarious position that can end t in tragedy. Now instead of low interest loan against held assets that a lender new secure she will have to take very fight unsecured one if she can even get one. If I remember right she even mentioned that the plan would have allowed a low interest loan but she did not find that out to after the fact. That tax bill and penalty may make her lose the the house as he only has SS income coming in. That was last tax season and she often pops and my mind and I do not think she is going to be ina good place right now.
This stuff is even more important if you are middle class to poor and to many of the working class and poor think they can ignore it all but it gets them in dire situations and they unlike the richer families have no one to bail them out.
Your tax filing will remain in your computer and be accessible through the program.
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In the end it will do the same thing and get your taxes done. It has been doing that for me for a long time and I have a pretty complex tax return. I have never understood why people paid so much more for TT to do the same thing. Block does claim to import from TT and the worst case I see is if you are not fond of it you can go back to TT next year.
Second best option is H&R deluxe for <$20.
IRS Free File tax preparation software is available to taxpayers and families whose 2022 total adjusted gross income was $73,000 or less. Products are available in English and Spanish.
You can't use Direct File if:
If your wages are more than $200,000 ($168,600 if you had more than one employer).
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Taxpayer Information Keeps Ending Up In the Wrong Hands
https://www.gao.gov/products/gao-23-105395 [gao.gov]
Security of Taxpayer Information:IRS Needs to Address Critical Safeguard Weaknesses
https://www.gao.gov/products/gao-23-105395
But despite these IT updates, in our new report we found critical weaknesses in IRS's efforts to protect its systems (new and old) from cyberthreats. For example, IRS is required to maintain an inventory of its systems that store taxpayer information. But we found this inventory was missing seven systems used to process tax data. If IRS does not know which systems house taxpayer information, it cannot ensure that proper protections are in place.
https://www.tigta.gov/sites/defau...0033fr.