Intuit has an app out now for iPhone and Android called TurboTax SnapTax. The app is a neat little program that attempts to make preparing and filing your taxes as simple as taking a picture with your phone. The app, which targets only certain taxpayers whose returns should be relatively simple, is free to download, and charges as little as $19.99 to complete federal and state returns.
Of course, there is often more to even simple tax returns than meets the eye when looking at a W-2. Specifically, there is no box on a W-2 for many deductions that a taxpayer may qualify for. For example, did you know that you can deduct most moving expenses you incur when moving more than 50 miles from your old home? This above-the-line deduction could result in substantial tax savings, yet would go completely missed by an app such as SnapTax. Likewise, teachers who qualify are allowed an above-the-line deduction of up to $250 of unreimbursed educator expenses. Again, this deduction would be missed entirely if a taxpayer who qualified to take it used SnapTax or similar software.
Of course, there's nothing wrong with using apps like SnapTax to prepare your taxes if that's all you need. But the app--like the W-2--often won't tell your whole story to the IRS, and that could result in lost tax savings. So, if you're going to use an app like SnapTax (or tax-preparation software on your computer), do so prudently, and only after you've determined that it's really all you need. If you know you need more, or just want a professional to ensure that your taxes are done correctly and in a manner that maximizes your savings, you can always feel free to contact us. It's as simple as dialing our number with your phone.
Of course, there is often more to even simple tax returns than meets the eye when looking at a W-2. Specifically, there is no box on a W-2 for many deductions that a taxpayer may qualify for. For example, did you know that you can deduct most moving expenses you incur when moving more than 50 miles from your old home? This above-the-line deduction could result in substantial tax savings, yet would go completely missed by an app such as SnapTax. Likewise, teachers who qualify are allowed an above-the-line deduction of up to $250 of unreimbursed educator expenses. Again, this deduction would be missed entirely if a taxpayer who qualified to take it used SnapTax or similar software.
Of course, there's nothing wrong with using apps like SnapTax to prepare your taxes if that's all you need. But the app--like the W-2--often won't tell your whole story to the IRS, and that could result in lost tax savings. So, if you're going to use an app like SnapTax (or tax-preparation software on your computer), do so prudently, and only after you've determined that it's really all you need. If you know you need more, or just want a professional to ensure that your taxes are done correctly and in a manner that maximizes your savings, you can always feel free to contact us. It's as simple as dialing our number with your phone.
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