Thursday, April 12, 2012

Online Accounting for Single Filers

When you are filing a simple w-2 form, or even if you are a small business owner, you will find that there are many large, national accounting firms that allow you to file your taxes online. Although this might be quite difficult for a larger company, that brings in millions of dollars annually, if you find an online accounting firm site that is easy to follow, basic, and takes you through the process step by step, you are going to find that you can save quite a bit, and get the accuracy (as well as a guarantee in the event you are audited), if you choose to file online.
Choosing the Accounting Firm
When you do choose to do the filing online, you have to do some research before you pick an online site. Some of the things to look for includes:
- a well-known, national firm, that is highly trusted by many filers each year;
- an online site that takes you step by step, and will not allow you to move on to the next step if there is some sort of error in your work;
- an accounting firm that is going to guarantee the accuracy, and will back filers up in the event of an audit; and,
- a quick, easy to file service, that is cheap (or in some cases free) when you are filing as a private filer, and doing a simple tax return online.
Higher Returns
When you do choose to file online, you might also find some additional deductions you can take, or possibly get some additional returns (or pay less in the event you owe the IRS money). When you are filing online, you will find that in the step by step instructions, there are certain deductions you might not have been aware of; from something like business travel expenses, to a deduction for first year graduate students or undergraduate students. You also get deductions for kids in school, or various other expenses that you incur during the course of the year, so long as they are work related. So, as an online filer, you are also going to want an online accounting firm and site that will guarantee you the biggest return, as well as showing you all of the deductions that you might be able to take, when you do choose to do the filing on your own, as opposed to hiring an accountant to do the work for you.
It is possible to do it yourself online, and get things done quickly, and accurately. When you do choose this route, you do have to pick the right firms to work with, and make sure you take your time in filling out each question and page. When you choose the right site, you will get the accuracy you are hoping for, backing up if you are audited, and the biggest return possible, when you choose to file online, with one of the top national accounting firms, rather than turn to an accountant to do the work for you instead.