Hi guyz,
I’m looking for some advice on the best place to file my taxes. This year, my situation is a bit more complicated than usual because I recently transitioned from being a W2 employee to doing contract work and billing through my own LLC. Additionally, I was laid off for a few months and got on Medicaid during that time, so I need to make sure I’m handling everything correctly.
For the past five years, I have filed my mom’s taxes using FreeTaxUSA since it is incredibly simple and completely free for federal e-filing. They charge $12.95 to file a state return if you also need to file with the state. It’s still far less expensive than almost anything else on the market. Nearly anything may be handled by the free version. They even file small business forms for free; but, because our returns are sophisticated, I hire a CPA to file both my personal and business taxes.
For the past five years, I have filed my taxes using FreeTaxUSA since it is a very simple and cost-free option for federal e-filing. They charge $12.95 to file a state return if you also need to file with the state. Still far less expensive than almost anything else on the market. Almost anything may be handled by the free version. They even file small business forms for free; but, because our returns are sophisticated, I hire a CPA to file both my personal and business taxes.
Filing tax in the process of transitioning from a W2 employee to an independent contractor with an LLC, and accounting for Medicaid, can indeed be complex. It is important to ensure that all aspects of your income, business expenses, and benefits are accurately reported.
For your sake, it might be best to consult with a certified public accountant (CPA) or a tax attorney who specializes in self-employment and small business taxes. They can provide personalized advice and ensure that you are taking advantage of all the deductions and credits available to you, as well as help you navigate the implications of your Medicaid coverage.
Hello, Liz Campbell. Yeah, the math is the math, but you can use freetaxusa, which will not charge you for federal taxes and is reasonably priced for state taxes.
I agree with the suggestion to use FreeTaxUSA, but I also think that the math is math. Assuming that TurboTax has the correct information, the outcome is as stated. The law cannot be changed by tax software.
True enough, I had to purchase Cengage for a class. Although it’s legitimate, I wouldn’t say it’s worth paying because it’s just been four months and, to be honest, I didn’t read anything at all.