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I have been self employed for most of my life. I do not give the government interest-free loans of MY money for any reason, at any time.So - no refund.
Is it really that big of a deal, young or no, to do your own taxes? I grew up with my whole family always doing their own, and I always do my own........does H&R block actually earn it's keep?
You soooooooo have the right idea. Just being an employed Joe Schmoe, I get a paycheck with taxes removes already like most people, and then I think "yippeee! Money back!" at tax time.
I have been self employed for most of my life. I do not give the government interest-free loans of MY money for any reason, at any time.So - no refund.But the good news - I don't think I'll be paying any income tax this year. Bought a building, made some expansions to a couple of our businesses - pretty much balanced it all out nicely I think. 8-)
Although I get back quite a bit every year, I've never said yipeeeee or even smiled for that matter. This year state and fed combined are getting to KEEP close to $10,000 of my money. I paid in $13,700 combined.People like me get screwed the most. I'm single, no dependants, and own my house(which would usually be a good thing, but since I have no dependents I can't claim Head of Household). If I'm not the head of the household then who the h e l is?" :-/
I claim 7 deductions in my paycheck and only three at the end of the year and usually still get money back.
I'd be brave enough to say that less than 5% of ALL the people I know file their own taxes. So to answer your question, I would say yes it's a big deal.And yes, I only use a pencil and my brain, no Turbo Tax. Not that there's anything wrong with that.