I don’t know what happened this year, but I’m behind on my taxes and will likely file on or very close to Tax Day. ¿Will your mañana ways cost you big come April 15th? Not if you follow these tax preparation savings tips.
3 Cheap Ways to File Your Taxes
- Tax software discounts through your bank: You may remember from The Wise Latina Club Money: 4 Ways to File Your Taxes for Free that I filed my taxes through a software program when my accountant keeled over. As I was scrambling to find another preparer, I paid a bill online and saw my financial institution was offering a 25% discount to customers. Go to your bank or brokerage‘s website and check under “special deals” and “offers” for discounts on tax software.
- If you bank isn’t offering a discount, search for coupons and coupon codes online: Sites such as CouponCabin.com or CouponWinner.com can save individuals and/or small business filers between 10% to 50%. Tax Tip: your mañana ways could have cost you already since some tax prep coupons expire before April.
- Support small or local business in the form of a small tax preparer: A tax accountant may charge a flat fee of say $50 or $100 (instead of hundreds) for short-form tax preparation. Whether it’s word of mouth such as my hospitalized accountant (who survived) or Mr. Patel, my papis’ tax preparer of 25 years, do your homework to verify creds and to review any complaints filed or disciplinary action taken.
This is part of the original The Wise Latina Club Money series which I created because the time has come for Latinas to change our money mindset from just consuming products and enriching others to building wealth. We must think about investing to strengthen ourselves, our families, and communities through savings, buying a piece of property, or committing to a college or retirement savings plan. TWLC Money aims to get you thinking about and give you the tools to achieve financial literacy and independence. Click here to read more TWLC Money posts.
How will you invest the money saved filing your taxes?