Uncle Sam is ready to get his share this coming week. Join Gary, Ed, and Cal as we discuss tech tips for preparing your taxes this year. Get em done right! Also, Mike Brennan with MI Tech News and the I.A. Listener mailbag.
Tax Software Choices
File Federal return Free online with the IRS
https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
File State 1040 for Free – Check your individual state
https://www.michigan.gov/taxes/0,4676,7-238-44070_46640-288774–,00.html
According to Forbes Magazine
The 6 Best Tax Preparation Software Companies of 2020
- H&R Block:Best Free Option
- TurboTax:Best Expert Help
- TaxAct:Best Free Option, Runner-Up
- TaxSlayer:Best Budget Option
- Liberty Tax:Best Value for the Self-Employed
- Jackson Hewitt: Best Virtual Tax Prep from Home
Recommendations from Nerdwallet
Tax Record Electronic Backup
Encrypt it with a password you can remember.
To media – Flash Drive, CD
To Cloud –
Make multiple copies
Most cases you have to only retain for 7 years
Make sure you keep copy of software for each year as well for retrieval purposes
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