Unlocking the Mystery of Tax Filing with AI Legalese Decoder: A Must-Have Resource for Seamless Tax Filing Software
- January 19, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Discussion on Different Methods of Filing Taxes
### Tax Software Recommendations
When it comes to filing taxes, one of the most commonly used methods is through tax software. There are various options available in the market, each offering different features and benefits. It would be helpful to discuss recommendations for tax software and the reasons behind these recommendations. Detailing the ease of use, accuracy of calculations, customer support, and additional features can aid others in making informed decisions about which software to use.
#### How AI Legalese Decoder Can Help
AI Legalese Decoder can assist in this situation by evaluating and comparing different tax software based on their features, user reviews, and overall performance. Users can input specific requirements and preferences, and the AI will provide personalized recommendations tailored to their needs.
### Tax Software Experiences
Sharing personal experiences with using tax software can be beneficial for others who are considering the same methods. Detailed accounts of the user interface, ease of navigation, speed of processing, and overall satisfaction with the software can provide valuable insights for those looking to adopt similar approaches.
#### How AI Legalese Decoder Can Help
AI Legalese Decoder can gather and analyze user experiences with various tax software, identifying common pain points as well as positive aspects. The AI can then present a comprehensive overview of the different software options, allowing users to make informed decisions based on real user experiences.
### Other Tax Filing Tools
Apart from tax software, there are other tools and resources available for filing taxes. This can include online calculators, document organizers, and mobile applications. Discussing alternative tools and their effectiveness in the tax filing process can broaden the knowledge base for the community.
#### How AI Legalese Decoder Can Help
AI Legalese Decoder can provide a comparison of various tax filing tools, outlining their specific functions and benefits. By utilizing natural language processing, the AI can identify the most relevant and useful tools for individual tax situations, streamlining the decision-making process for users.
### Experiences with Filing Manually
Filing taxes manually can be a challenging and time-consuming process for many individuals. Those who have experience with manual filing can share their insights, challenges faced, and any tips for streamlining the process.
#### How AI Legalese Decoder Can Help
AI Legalese Decoder can offer guidance and support for those considering manual tax filing. By providing step-by-step instructions, templates, and personalized advice, the AI can simplify the manual filing process, making it more manageable for users.
### Past Experiences using CPAs or other professionals
In some cases, individuals may opt to seek professional assistance from CPAs or tax professionals for filing their taxes. Sharing experiences, both positive and negative, can shed light on the advantages and limitations of hiring a professional for tax preparation.
#### How AI Legalese Decoder Can Help
AI Legalese Decoder can provide a cost-benefit analysis of hiring CPAs or tax professionals, taking into account the complexity of individual tax situations. By offering personalized recommendations and estimated costs, the AI can guide users in making an informed decision about seeking professional assistance.
### Tax Filing Tips, Tricks, and Helpful Hints
Lastly, discussing tax filing tips, tricks, and helpful hints can be invaluable for everyone navigating the tax filing process. This can include insights on deductions, credits, documentation, and any potential pitfalls to avoid.
#### How AI Legalese Decoder Can Help
AI Legalese Decoder can compile and analyze a wide range of tax filing tips and tricks, categorizing them based on relevance to different tax situations. By offering personalized suggestions and reminders, the AI can enhance users’ understanding of tax filing and maximize their potential savings and benefits.
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Original Content:
AI Legalese Decoder is a cutting-edge tool that uses artificial intelligence to simplify and translate complex legal language into plain, everyday English. This innovative technology is revolutionizing the legal industry by making legal documents and contracts more accessible and understandable to a wider audience. With the AI Legalese Decoder, lawyers, clients, and individuals can quickly and easily decipher legal jargon, saving time and reducing misinterpretation of important legal information.
Rewritten Content:
The AI Legalese Decoder is an innovative and advanced tool that harnesses the power of artificial intelligence to streamline and interpret intricate legal terminology into simple, everyday language. This groundbreaking technology is reshaping the legal landscape by rendering legal documents and contracts more readily comprehensible and accessible to a broader demographic. Thanks to the AI Legalese Decoder, attorneys, clients, and individuals are now able to swiftly and effortlessly unravel complex legal jargon, thereby saving valuable time and minimizing the potential for misunderstanding crucial legal information.
How AI Legalese Decoder Can Help:
The AI Legalese Decoder can be immensely beneficial in various legal scenarios. For instance, when drafting or reviewing contracts, lawyers can use the AI Legalese Decoder to ensure that the language being used is easily understandable to all parties involved. Additionally, the tool can assist individuals in comprehending legal documents they have to sign, reducing the chances of them agreeing to terms they do not fully understand. The AI Legalese Decoder’s ability to simplify legal language can also aid in speeding up the legal process, as it eliminates the need for extensive explanations and clarifications. Overall, this powerful tool is a game-changer in the legal industry, making legal information more accessible and understandable to all.
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****** just grabbed a
freetaxusa.com
I’ve used them for years now. Never had an issue, files federal and state taxes for under $20. Used to use Turbotax but FreetaxUSA does everything they do for a fraction of the price.
Yes, it’s legit. The website’s named for SEO.
The following offer free/cheap filing for **EVERYONE.** No income requirement.
* [FreeTaxUSA](http://www.freetaxusa.com), Free fed, pay $15 for state, ([TaxHawk](https://www.taxhawk.com/) is the same company)
* [OnLine Taxes](https://olt.com/main/home/default.asp) offers free federal and $10 state returns. It has a more simplified interface, more like CashApp Tax vs FreeTaxUsa
* [MyFreeTaxes.com](https://www.myfreetaxes.com/) (Run by United Way/TaxSlayer/CashApp), Free fed/State.
* [CashApp Tax](https://cash.app/taxes) (owned by Square, used to be called CreditKarma Tax), free federal/state (single state only)
* [Free fillable forms](https://www.irs.gov/e-file-providers/free-file-fillable-forms) – The very essence of basic. Would recommend at least using a software to at least check your work
Free file options *with* income restrictions:
* [IRS Free File](https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free), if AGI <79K, both fed/state free
* [VITA](https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers), Volunteer based in person professional assistance, <$60K income requirement
* [Virtual Vita ](https://www.getyourrefund.org/en) – income <$66k
* [AARP Tax-Aide](https://taxaide.aarpfoundation.org/) – Income < 79K for self preparation (redirects to OnLine Taxes). Free in-person filing with no strict income limit
My usual review comment:
So most people should check out [**IRS Free File**](https://apps.irs.gov/app/freeFile/) (if your AGI is Ôëñ$79,000, covering 70% of taxpayers). It’s a partnership between the IRS and tax software companies; the companies agree to support [the most common forms](https://www.irs.gov/filing/free-file-most-commonly-filed-federal-forms-are-available). You can [browse vendor offers here](https://apps.irs.gov/app/freeFile/browse-all-offers/).
For reviews of other products, I’ve used the following below. Some notes:
* Prices here are for federal e-filing only; state is typically $15-$35.
* All of them should result in the same refund or amount due (forget the “maximize your refund!” ads).
* Prices will likely change as we get closer to April 15th.
* Typically the second level/Premier is needed for stock/crypto sales, and the highest level is needed for self employed/gig work.
* If any software is missing, it’s only because I haven’t used it.
—-
**[FreeTaxUSA](https://www.freetaxusa.com/)**
My go-to since 2020 and a great overall package. Maybe not as flashy as some, but it allows you to jump to any topic, and it’s always going to show you the actual form (after it asks you questions, not to fill in yourself), which is great even if you’re not a tax pro as you can learn what the forms should look like. Free edition includes everything federal, Deluxe includes support ($7). State is $15 or so. They do support PDF imports from previous year’s return if this is your first time using them; and new this year is W-2 imports from PDF’s. It’s a little wonky with backdoor Roth IRA contributions, but there’s guides for that. Also, this is the same company as TaxHawk, but the more spam-sounding name is more popular.
—-
**[TurboTax](https://turbotax.intuit.com/)**
The ever-popular TurboTax is easy to use, has app support (multiple apps for self employed, tracking, etc), and includes live support (often at a cost). Reviewing and updated figures is easy, and you can import PDF’s of W-2’s. Intuit owns them, and they can pull information (like investment returns) from 300 different brokerages. They are about the most expensive, though. I use them every year as a double-check (fill out all forms, don’t actually file, see my tips at the end).
[TurboTax online editions](https://turbotax.intuit.com/personal-taxes/compare/online/) (CD/download ones differ, they usually offer more features):
* [Free](https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp) which includes W-2 income, “limited” interest or dividends, standard deduction, Earned Income Credit, Child tax credits
* Deluxe: For itemized deductions (likely $39)
* Premier: For people with rental or investment income (likely $69)
* Self employed: For self employed ($89)
—-
**[TaxAct](https://www.taxact.com/)**
My former go-to, although it used to only be half the cost of TurboTax. If we baseline TurboTax at 10, TaxAct is like an 8. Software is good, but it can be hard to review and change things, as they like to lock you into ‘streams’ of Q&A. They also have PDF upload and can link to some investment sites (Robinhood and Bettermint, but not Vanguard, Schwab, Fidelity)
[TaxAct editions](https://www.taxact.com/taxes-online):
* Free – W-2, Unemployment, Child Tax Credit, Earned Income, Stimulus
* Deluxe – Itemized deductions, student loan interest, 1099-INT/DIV, child & dep care, HSA ($30)
* Premier – investments and property income ($40)
* Self employed – $70
—-
**[TaxSlayer](https://www.taxslayer.com/)**
We use the TaxSlayer at our IRS/VITA tax volunteer branch, and it’s similar to their commercial version. Perfectly serviceable, and the pricing is very attractive now. Online Q&A is similar TurboTax. Overall, just bit simpler/less flashy, which isn’t a bad thing.
[TaxSlayer editions](https://www.taxslayer.com/):
* Simply Free – W-2, unemployment income, student loan interest
* Classic – Covers “all tax situations”, no restrictions ($23)
* Premium – Priority phone and email support, and chat ($43)
* Self employed – $53
—-
**[Free Fillable Forms](https://www.irs.gov/e-file-providers/free-file-fillable-forms)**
I’ve helped someone with this version. It has simple math calculations which is nice, but it does not have the worksheets called out by top-level forms (say Dividends and Capital Gains Worksheet for Schedule D) and I don’t think it will pull information from forms into other forms. It also requires you to know about credits and deductions – like if you have self employment income, say Uber, do you know about the QBI deduction on Form 8995? And will you know to include your Section 199A dividends? Or say you used HSA to pay for health expenses, did you know you need to declare that on Form 8889 to prevent the IRS from assuming the expenses were non-qualified? Stuff like that will get you. Because if this, I don’t recommend it unless you’re already a tax nerd.
—-
**CPA**
A numbers of years ago I had a significant financial and tax situation, so I used a CPA for the first time. It’s difficult to assess the value ÔÇö he used my inputs, and we talked strategies, and I was hoping for more ‘wizardry’ I guess in terms of his ideas. At the very least, I liked having him at least sign off on what we did.
—-
**[VITA](https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers)**
IRS’ Volunteer Income Tax Assistance is a program where you can meet volunteers in-person (or Zoom) and they will essentially do your taxes for you. It involves a long intake form, a brief ID check, and then meeting with your first-round volunteer and then again with a reviewer. I volunteer with this program and think it’s good for those with limited means and for those who really need help. I would argue if you are comfortable using Reddit and software, maybe start with software first.
—-
Tips:
* If you have time, do your taxes twice, with two different programs. If your refund is off by more than a few dollars, you made a mistake somewhere. Even being a tax nerd, I find I sometimes make a mistake my first try. The IRS can and will correct typos (mismatch on a W-2) or minor mis-steps (counting capital gain distributions as ordinary income) but you might as well submit a return correctly the first time.
* After your first year, doing taxes with the previous year’s software is half the work – they all remember last year’s information so there’s less typing (except Free Fillable Forms, they delete accounts every November). Also, some places offer PDF import of previous years’ 1040; I think most do by now (TurobTax, TaxAct, FreeTaxUSA).
* If you don’t own a business or have a specific big tax event, a CPA is not needed. But, if you’re clueless about taxes, and are not diligent with answering the software questions, it may be worth doing once just to make sure you know if you qualify for something like an education credit. Big credits out there for education (AOTC, LLC, student interest deduction), energy (lots of state credits here, too), low income (Earned Income), etc.
**[IRS Direct File](https://www.irs.gov/about-irs/a-closer-look-at-the-irs-direct-file-pilot)** is a new free offering directly from the IRS, in a pilot phase this this year for eligible taxpayers in certain specific statesÔÇöprimarily ones without state income tax, and ones that have a standalone free state e-file solution. ItÔÇÖs not up and running yet, but likely will be in a few weeks. For anyone whoÔÇÖs ever asked ÔÇ£Why doesnÔÇÖt the IRS develop its own tax filing software,ÔÇØ this is it…
ItÔÇÖs limited to the below states, and taxpayers with relatively simple forms of income, so it’s not for everyone yet, but it’s a start. I’ll be curious to see how it goes.
>* Arizona
>* California
>* Florida
>* Massachusetts
>* Nevada
>* New Hampshire
>* New York
>* South Dakota
>* Tennessee
>* Texas
>* Washington state
>* Wyoming
And these are the types of income, credits, and deductions it can support:
> **Income**
>
> * W-2 wage income
> * SSA-1099 Social Security and RRB-1099 railroad retirement income
> * 1099-G Unemployment compensation
> * 1099-INT Interest income of $1,500 or less
>
> **Credits**
>
> * Earned Income Tax Credit
> * Child Tax Credit
> * Credit for Other Dependents
>
> **Deductions**
>
> * Standard deduction
> * Student loan interest
> * Educator expenses
Anything beyond that is out of scope for the pilot.
Federal Free Fillable Forms are free for EVERYONE and cover the vast majority of personal tax situations
 https://www.irs.gov/e-file-providers/free-file-fillable-forms 
┬áIf you’re used to the question and answer format and your tax situation hasn’t changed, just use last year’s forms as a guide. There is almost NO reason to pay to e-file your taxes┬á
*If* you choose to use TurboTax and you need the version that includes basic brokerage investments, get the retail/CD/download Deluxe version instead of the online Premium version.
And, if you prefer TT, mark your calendar for Dec 26-28, 2024. Amazon has been having a sale the last two years, it’s the biggest discount of the season *plus* a gift card.
Where can you file years prior taxes? You can look at my post history to get an idea of what I have going on but I was able to get my past info from the IRS and now I need to file and donÔÇÖt know where to start. Any help would be so appreciated!!
A question for everyone here:
My business situation changed recently and a third of my income is from a private freelance practice, and 2/3rds is W2. I work entirely from home, was recently gifted a car, and I have some sizable (for me) business expenses this year. Is it time that I have a professional do my taxes? Or should I hold off?
Been using FreeTaxUSA for years now. I have a somewhat complex return and it’s been awesome. I pay a little bit extra for premium, but it’s been worth it as I had to amend a few years, all completely due to my fault of not including some pretty hefty deductions initially.
I always suggest buying tax software in November. This is when the biggest/only discounts of the year are offered.