Doing Your Own Taxes to Save Money

By Gerald Dooley
Published on March 1, 1979
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PHOTO: STOKKETE/FOTOLIA
It won't ever be simple exactly, but doing your own taxes doesn't have to be this way either.

It’s been my observation that people who have their finances well under control generally fill out their own federal income tax returns, while those in continual financial difficulties rarely do. And, although doing your own taxes certainly isn’t a cure-all for money problems, it can definitely lead to a better understanding of personal and business finances. In fact, just learning how to deal with this yearly tax obligation is often an important step toward a more self-sufficient lifestyle.

Free Assistance

It isn’t as difficult to prepare your own tax return as you may imagine. If you can read and follow simple instructions, make elementary math calculations, look up numbers in tables, and ask questions about whatever you don’t understand, you’re already “equipped” to tackle those imposing forms!

Almost everything you’ll need to know to do the job yourself can be found in the instruction booklet that contains your tax forms. And answers to just about any “special case” questions can be located in the free publications that the Internal Revenue Service will send you on request. When those questions arise–or when you need to order a publication–you can also take advantage of the toll-free WATS lines (or local telephone numbers for large cities) that are provided by the Taxpayers Assistance Division: Just look in the white pages of your telephone book under “U.S. Government”. On top of that, most public libraries have information on tax preparation, and some even subscribe to professional tax services.

But, you certainly don’t need to take special courses or buy additional tax manuals, since most of the latter are nothing more than paraphrased and rearranged versions of the free IRS publications, anyway!

Which Forms, When?

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