I know some folks who frown whenever I suggest they prepare their own tax return, but it can be done easily if you just take a little time to look over the free IRS books and pamphlets. If you do decide to prepare your own tax return make sure you don’t do it at the last minute – that is when it’s a hellish pain in the backside. Try to gather the IRS pamphlets, and educational documents a month before your tax return is due, so you can look everything over in detail. If you take the time to do your personal tax return once, you’ll have the process down pat for the next year. Another advantage you have by preparing your taxes is knowledge. You will learn how all the exemptions, deductions, income, expenses, and pay-stubs all dance together on paper. You will find “creative” ways to capitalize on your tax return, and let’s face it – you will do a better job than a stranger because it’s YOUR money at stake.
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