@@SmartFamilyMoney My taxes are filed and I'm awaiting my refunds. FreeTaxUSA was a breeze! My tax situation is simple....a small W-2 and mostly retirement income. It probably took less than 30 minutes to complete the Federal and the State. I'll be using FreeTaxUSA going forward. Again, thanks for the info!
Thank you for referring me to the Freetax USA program. I have used it again this year without the high cost and effort. I am looking forward to your next review. Best wishes and regards! 😀
This was excellent and very clear!!! I tried 4 different "FREE" services before I found your review. I went with Free Tax USA. Thank you so much and I hope you get lots of commission for helping regular working class citizens!!! Thanks again!!!
I truly needed this, thank you so much. This year will be stress free filing my taxes. Every year I dread these times but you help me to see my options…. I appreciate it.
Thank you. As a Canadian nobody knows where to put my Canada pension income. I recently learned it goes on the line with SSI due to an agreement with US, Canada and Germany. So it only cost $25.99, with fed & state tax, plus support. Free Tax USA walked me through the claiming dependant section, and pdf'd everything for easy printout and mailing. Now I can do all 3 years of back tax. Liberty Tax wanted $300+ for one stub, low income, each year of prep. Insane.
If you feel like you understand the forms and don't need to be walked through it, you can use Free Fillable Forms, which files the forms directly with the IRS for free, regardless of income amount or type. My elderly father took tax preparation classes at one point and insists on doing his own taxes. I submit them using Free Fillable Forms. We've done this for 2 years because he was submitting them in written format via snail mail. An IRS agent told him he could no longer submit it written, which I think sounds incorrect. Hopefully, though the electronic way will keep the IRS from auditing him, since a person won't need to actually check it anymore.
Thanks for the great review. FreeTaxUSA sounds interesting, but I have approx. 100 stock and options transactions, so wondering if I can consolidate or must list each and every item.
Sorry I took a while to get back to you - I couldn't remember how FreeTaxUSA handled it and wanted to look it up. It looks like FreeTaxUSA does allow for summary stock trades entries, so you just have to add one total for each type of trade, so it should be pretty easy! www.freetaxusa.com/stock
I have question. I do have two kids under age 3 year old. Can i put both of them on my w4 for federal . $2000 or $4000. For the state , how many i need to put in ? Please reply. I live in NC
I really don't want to have to pay for premium versions of tax software. I know what my capital gains are already. Can't I just use the free version and just pay on the tax. The 180 bill for premium is crazy and the fact my federal return goes up the higher you go.
Thank you for sharing. I have a simple but serious question. If I quit my job and I don’t have any income for full year, do I have to file tax or do anything?? I’m worried. Will I owe any $ for IRS or anything?
If you have $0 income, you probably don't need to file but this will tell you all the details: www.irs.gov/individuals/check-if-you-need-to-file-a-tax-return
Great review! Which program would allow you to 1. not register with them, 2. simply use their system anonymously as a what-if tool, and 3. get taxes owed results without having to 'file them'?
@@SmartFamilyMoney Thank you. Agreed, tried to do my estimating with freetaxusa, but after registration with email and similar info, it wanted SS #, etc to go forward, so I bailed out on it. The IRS service, is it the withholding estimator you are referring to? It might get me part of the way, but I bet I will need to go old school with my spreadsheet and approximate knowledge of taxes from prior returns. By the way, any suggestions on financial planning for low income semi-retirees, perhaps as little as an hour of consulting time for minimal difficulty questions? Thanks again.
I live in one of the states you stated that could file directly to the IRS. When you say I can file directly with the IRS do you mean on their own site or through a trusted partner listed on their site?
I have a RITA question. During 2020 to 2022 (whole 2 years) I worked and lived in Indiana but my permanent home is in Shaker Hts, OH. Should RITA be able to collect the resident tax on those year that I worked and lived in Indiana (they’re trying now)
I don't know for sure, but I feel like the answer is probably yes. If the address on your tax return was Shaker Heights, then you were claiming to be a resident of Shaker Heights.
I agree the tax code is completely convoluted, but it's not completely true that the IRS could just send you a bill or a check. Basically anybody who doesn't meet the qualifications of the free file has situations at the IRS has no way of knowing about, like business expenses versus income, money spent on child care, and other such things that don't actually generate a tax form. If the IRS just " did it for you" a lot of people would end up paying them a lot more than they should. I agree it should still be an option, but it's important to not exaggerate just to make a point.
You are correct that it couldn't be automatic for everyone but even for those with more complex taxes, it would be a lot simpler if all of our IRS forms were prefilled.
Is there a way to amend taxes online through another app if I need to amend with cashapp? I didn’t realize I get a credit for my hybrid and I don’t want to wait to mail it in and wait so long to amend them
FreeTaxUSA does amended returns even if you didn't originally file with them. They can e-file it if you meet the qualifications but a lot of people have to mail amended returns. Here's the info: www.freetaxusa.com/amended
If it's only social security probably not but you can use this IRS tool to check if you need to file. www.irs.gov/help/ita/do-i-need-to-file-a-tax-return
I'm a 1099 contract worker for a Delivery service, would FreeTaxUSA be a good choice for me? And do I need to get a business name for myself to get money back? I have filed with HR Block in the past and have not gotten anything back, even though I bring gas receipts etc (my expenses). Also, with HR Block, the price is around 500$. Thank you!
Yes, FreeTaxUSA should work fine. No, you don't need a business name to have business income. How much you get back (or owe) is based on the tax laws and what you had withheld - it has nothing to do with which software or service you use. As an independent business, no one is withholding tax for you so it's common to owe money.
Trying not to use turbo tax this year because my health insurance is subsidized, and after I enter my 1095 they always state that I have a complicated tax return. Will this be true everywhere or just TurboTax?
Yeah, unfortunately that's one of those forms that's going to push you into the expensive options on Turbo Tax. You can definitely have that form and federal filing will still be free on FreeTaxUSA ($14.99 charge for state filing if you need that). And I do believe Cash App can handle that form and it's still free too.
@SmartFamilyMoney *Could you tell me at what point do I enter myb1095 on TurboTax or any tax online software? TurboTax this year is verrrrry very difficult and I believe I will try another company* *ICOULD BARELY EVEN LOG IN WORH TURBOTAX RHIS. SAME WITH DRIEND WHO IS A MUCH MORE SAAVY / COMPUTER LITERATE FRIEND* *THANK YOU FOR YOUR HELP*
There shouldn't be a difference to unless you entered something different but I have seen some other folks online talking about this. On FreeTaxUSA you can preview your 1040 as you go through so sometimes that can give you clues about what's going on. Of course TurboTax doesn't do that.
With a single member LLC, you'll likely need a schedule C, which is definitely covered by FreeTaxUSA. I'm not sure if being a foreign citizen is problem, but I don't believe so. I think FreeTaxUSA should work fine for you - give it a try!
The interface for FreeTax is no better than TurboTax (maybe a little worse). The main difference between the two is that she has an affiliate link for FreeTax and doesn't have a link for TurboTax. I'm sure that had nothing to do with her review. 🙄 She's also incorrect about the pricing. FreeTax is completely free for fed AND all 50 states if you have AGI below 45k. Above that threshhold its $14.95 for state. One thing that makes TurboTax not free that I did not see mentioned on thier site (until you reach that point in the filing process, of course) is interest income above $1500. With interest rates were they are that's going to eliminate a lot of people who qualified last year.
? Are you talking about capitalism ? The single most successful system in bringing people out of poverty , and promoting Ingenuity and invention , as well as revolutionary , world changing technology @3nertia
@@TTS-TPcapitalism only works for rich countries who became rich by exploiting other countries and having slave labor. Also, there is no real innovation in capitalism, they just come up innovative ways to scam people.
Try FreeTaxUSA for completely free federal tax filing:
www.jdoqocy.com/click-100712109-12305389
Finished! Federal and state all done in one day. Fifth year using FT USA and I would dread going back and doing them manually.
Looks like i have to switch to FreeTaxUSA as i don't make near as much as i did last year.. I'll need a small loan to pay taxes😢
FreeTaxUSA was my choice. This is the first time I've filed my own taxes and I wish I had started a long time ago. Thanks for the advice!
Good job doing it on your own! Glad the video was helpful!
@@SmartFamilyMoney My taxes are filed and I'm awaiting my refunds. FreeTaxUSA was a breeze! My tax situation is simple....a small W-2 and mostly retirement income. It probably took less than 30 minutes to complete the Federal and the State. I'll be using FreeTaxUSA going forward. Again, thanks for the info!
Thank you for referring me to the Freetax USA program. I have used it again this year without the high cost and effort. I am looking forward to your next review. Best wishes and regards! 😀
TurboTax is too expensive! I have one 1099 divided form and a normal w-2. Total price is 197 dollars! Last year was the last time for me
This was excellent and very clear!!! I tried 4 different "FREE" services before I found your review. I went with Free Tax USA. Thank you so much and I hope you get lots of commission for helping regular working class citizens!!! Thanks again!!!
I truly needed this, thank you so much. This year will be stress free filing my taxes. Every year I dread these times but you help me to see my options…. I appreciate it.
Thank you. As a Canadian nobody knows where to put my Canada pension income. I recently learned it goes on the line with SSI due to an agreement with US, Canada and Germany. So it only cost $25.99, with fed & state tax, plus support. Free Tax USA walked me through the claiming dependant section, and pdf'd everything for easy printout and mailing. Now I can do all 3 years of back tax. Liberty Tax wanted $300+ for one stub, low income, each year of prep. Insane.
Awesome! I am so glad it worked out for you!
Good overview of Free File options.
Glad you liked it! Did you decide which method you will use?
@@SmartFamilyMoney No. I am still waiting for some tax documents before I can think about doing my taxes.
If you feel like you understand the forms and don't need to be walked through it, you can use Free Fillable Forms, which files the forms directly with the IRS for free, regardless of income amount or type. My elderly father took tax preparation classes at one point and insists on doing his own taxes. I submit them using Free Fillable Forms. We've done this for 2 years because he was submitting them in written format via snail mail. An IRS agent told him he could no longer submit it written, which I think sounds incorrect. Hopefully, though the electronic way will keep the IRS from auditing him, since a person won't need to actually check it anymore.
GREAT Breakdown!! Thank you so much for this 🙏🏿
Glad it was helpful!
Thanks for this information! Freetaxusa was a lot cheaper than Taxslayer! Taxslayer wanted $88 compared to only $14.99
Thank you for the great information and amazingly delivered as well! God Bless!
Great video thanks for being upfront with the affiliate link
Great info. Thank you.
wow. great ad for Free Tax USA that wasnt disclosed until the end.
Thank you for the info!!! Very helpful
You are so welcome!
Very good contents!!
Freetax USA can be used by F1 visa holders residing in the US?
Thank you so much, I appreciate this informative video.
Glad it was helpful!
What’s the best option for late filing of tax returns?
Awesome Video! Thank you for sharing.😍
You are so welcome!
is there a discount code? usually if your affiliated you have some sort of savings if someone purchases the product
Thanks for the great review. FreeTaxUSA sounds interesting, but I have approx. 100 stock and options transactions, so wondering if I can consolidate or must list each and every item.
Sorry I took a while to get back to you - I couldn't remember how FreeTaxUSA handled it and wanted to look it up. It looks like FreeTaxUSA does allow for summary stock trades entries, so you just have to add one total for each type of trade, so it should be pretty easy! www.freetaxusa.com/stock
My dad would also do it for me. He passed away back in September 2023. I’m 20 and so scared to mess up.
I'm so sorry to hear about your dad - I also lost my dad last year. I promise you can do this ❤
I have question. I do have two kids under age 3 year old. Can i put both of them on my w4 for federal . $2000 or $4000. For the state , how many i need to put in ? Please reply. I live in NC
Americans have always been able to file their taxes directly with the IRS. Maybe she is referring to e-file
I really don't want to have to pay for premium versions of tax software. I know what my capital gains are already. Can't I just use the free version and just pay on the tax. The 180 bill for premium is crazy and the fact my federal return goes up the higher you go.
Thank you for this review, I used your link, hope you have a great refund
Thank you for sharing. I have a simple but serious question. If I quit my job and I don’t have any income for full year, do I have to file tax or do anything?? I’m worried.
Will I owe any $ for IRS or anything?
If you have $0 income, you probably don't need to file but this will tell you all the details: www.irs.gov/individuals/check-if-you-need-to-file-a-tax-return
Great thank u 🙏
You're welcome 😊
Great review! Which program would allow you to 1. not register with them, 2. simply use their system anonymously as a what-if tool, and 3. get taxes owed results without having to 'file them'?
None of these services will work without registering. The IRS does have a tax estimator that doesn't require registration but it's not super detailed.
@@SmartFamilyMoney Thank you. Agreed, tried to do my estimating with freetaxusa, but after registration with email and similar info, it wanted SS #, etc to go forward, so I bailed out on it. The IRS service, is it the withholding estimator you are referring to? It might get me part of the way, but I bet I will need to go old school with my spreadsheet and approximate knowledge of taxes from prior returns. By the way, any suggestions on financial planning for low income semi-retirees, perhaps as little as an hour of consulting time for minimal difficulty questions? Thanks again.
I live in one of the states you stated that could file directly to the IRS. When you say I can file directly with the IRS do you mean on their own site or through a trusted partner listed on their site?
The new direct file system is directly through the IRS site, not a partner. Here's more info: www.irs.gov/about-irs/strategic-plan/direct-file
I am tax preparer..should IRS allowed to use usa free tax to file tax return with out PTIN?
I have a RITA question. During 2020 to 2022 (whole 2 years) I worked and lived in Indiana but my permanent home is in Shaker Hts, OH. Should RITA be able to collect the resident tax on those year that I worked and lived in Indiana (they’re trying now)
I don't know for sure, but I feel like the answer is probably yes. If the address on your tax return was Shaker Heights, then you were claiming to be a resident of Shaker Heights.
I agree the tax code is completely convoluted, but it's not completely true that the IRS could just send you a bill or a check. Basically anybody who doesn't meet the qualifications of the free file has situations at the IRS has no way of knowing about, like business expenses versus income, money spent on child care, and other such things that don't actually generate a tax form. If the IRS just " did it for you" a lot of people would end up paying them a lot more than they should. I agree it should still be an option, but it's important to not exaggerate just to make a point.
You are correct that it couldn't be automatic for everyone but even for those with more complex taxes, it would be a lot simpler if all of our IRS forms were prefilled.
Can I use these if I have medical expenses?
Do you have an opinion on Taxact?
I haven't tried it. I'm sure it's fine but it's a lot more expensive than FreeTaxUSA.
Thoughts on TaxAct?
It's fine but more expensive than other options.
Is there a way to amend taxes online through another app if I need to amend with cashapp? I didn’t realize I get a credit for my hybrid and I don’t want to wait to mail it in and wait so long to amend them
FreeTaxUSA does amended returns even if you didn't originally file with them. They can e-file it if you meet the qualifications but a lot of people have to mail amended returns. Here's the info: www.freetaxusa.com/amended
@@SmartFamilyMoney thank you so much for your reply! 🙏🏼
Does FreeTaxUSA have income limits? For example, if you make over a certain amount you no longer qualify for free federal?
No, the free federal is for everyone with FreeTaxUSA
Do I and my need to file a tax return if we are collecting SOCIAL SECURITY?
If it's only social security probably not but you can use this IRS tool to check if you need to file. www.irs.gov/help/ita/do-i-need-to-file-a-tax-return
@@SmartFamilyMoney thanks for the reply
I'm a 1099 contract worker for a Delivery service, would FreeTaxUSA be a good choice for me? And do I need to get a business name for myself to get money back? I have filed with HR Block in the past and have not gotten anything back, even though I bring gas receipts etc (my expenses). Also, with HR Block, the price is around 500$. Thank you!
Yes, FreeTaxUSA should work fine. No, you don't need a business name to have business income. How much you get back (or owe) is based on the tax laws and what you had withheld - it has nothing to do with which software or service you use. As an independent business, no one is withholding tax for you so it's common to owe money.
Trying not to use turbo tax this year because my health insurance is subsidized, and after I enter my 1095 they always state that I have a complicated tax return. Will this be true everywhere or just TurboTax?
Yeah, unfortunately that's one of those forms that's going to push you into the expensive options on Turbo Tax. You can definitely have that form and federal filing will still be free on FreeTaxUSA ($14.99 charge for state filing if you need that). And I do believe Cash App can handle that form and it's still free too.
@SmartFamilyMoney *Could you tell me at what point do I enter myb1095 on TurboTax or any tax online software? TurboTax this year is verrrrry very difficult and I believe I will try another company*
*ICOULD BARELY EVEN LOG IN WORH TURBOTAX RHIS. SAME WITH DRIEND WHO IS A MUCH MORE SAAVY / COMPUTER LITERATE FRIEND*
*THANK YOU FOR YOUR HELP*
does free tax usa allow you to put your investments?
Yes, it can handle dividends and stock sales, etc.
For some reason I get less money on USA tax compared to turbo tax is there any reason for that
There shouldn't be a difference to unless you entered something different but I have seen some other folks online talking about this. On FreeTaxUSA you can preview your 1040 as you go through so sometimes that can give you clues about what's going on. Of course TurboTax doesn't do that.
I am a foreigner and I have a single member LLC in the United States in the state of Wyoming. Can I use free tax USA for filing my taxes?
With a single member LLC, you'll likely need a schedule C, which is definitely covered by FreeTaxUSA. I'm not sure if being a foreign citizen is problem, but I don't believe so. I think FreeTaxUSA should work fine for you - give it a try!
The interface for FreeTax is no better than TurboTax (maybe a little worse). The main difference between the two is that she has an affiliate link for FreeTax and doesn't have a link for TurboTax. I'm sure that had nothing to do with her review. 🙄 She's also incorrect about the pricing. FreeTax is completely free for fed AND all 50 states if you have AGI below 45k. Above that threshhold its $14.95 for state.
One thing that makes TurboTax not free that I did not see mentioned on thier site (until you reach that point in the filing process, of course) is interest income above $1500. With interest rates were they are that's going to eliminate a lot of people who qualified last year.
lool nice
Yay capitalism!
Ugh. Right?
@@SmartFamilyMoney Worst. Invention. EVER!
? Are you talking about capitalism ? The single most successful system in bringing people out of poverty , and promoting Ingenuity and invention , as well as revolutionary , world changing technology @3nertia
@@TTS-TP Ah, the irony of Dunning-Kruger ...
@@TTS-TPcapitalism only works for rich countries who became rich by exploiting other countries and having slave labor. Also, there is no real innovation in capitalism, they just come up innovative ways to scam people.