FreeTaxUSA Review for 2021 (Tax Year 2020): Is it Legit? Is it REALLY FREE?!
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- Опубликовано: 30 июл 2024
- It's 2021, so it's time to file taxes for 2020. Is FreeTaxUSA a good choice to do your taxes online? Is it easy to use? Is it a legitimate company? Is it really free? I'll give you the answers!
DISCLOSURE: This post may contain affiliate links, meaning when you click the links and make a purchase, we receive a commission.
DISCLAIMER:
The information and opinions within this content are for information purposes only. Guidance is based on personal interpretations and in no way, represents legal or financial advice.
Try FreeTaxUSA for completely free federal tax filing:
www.kqzyfj.com/click-9010673-...
Index:
0:00 - Intro
0:18 - My Tax Background
0:30 - How and What I Tested
0:45 - Positives
4:03 - Negatives
4:57 - Final Thoughts
Disclaimer: All information on this channel is my own opinion and not intended to be financial advice. Consult a CPA or financial advisor if you have questions about your own financial situation.
Getting ready to do my own taxes for the first time I want to thank you for this video I will be using the link.
Really appreciate your review video. Make me feel more confident. thanks and good luck!
I am so glad you enjoyed the video!
Thank you for this review :)
Very helpful. Thank you.
A big THANK YOU for this Video as it made my decision to use Freetaxusa to do my own taxes for the first time in 20 years!!!! Now that my taxes are going to be very simple I wont be going to a tax preparer and will save $495 for that!
Love it!
Hello Cindy and thank you so much for the valuable information, what do you recommend as the best and cheapest software option for paid tax preparer in order to serve clients
Thank you very much! This is the software I use.
Glad you like it!
@Smart Family Money how can you see your federal refund before you put all your bank information?? Does anybody know?
Have been a life long paper filer using a calculator and fingers and toes and pencils and erasers.
This year I read reviews of different tax programs and took SFM's advice and used FREETAXUSA for my 2020 taxes.
So so much more convenient than paper!
That's awesome! So glad you enjoyed using FreetaxUSA!
@@SmartFamilyMoney By the way, I did subscribe to your channel and have one more comment about FreetaxUSA use.
I had to do some searching to find where to enter my IRA basis. It is there but kind of hidden within the IRA contribution
page. When I found it and entered the basis numbers FTUSA did the somewhat complex calculation and manipulation just fine.
@@bkbeam thanks for the tip! And thanks for the subscribe. 😁
Great video! Would you be able to see how much you will get in ‘state’ refund before you hit submit?
Yes, you can go through federal and state and see your totals before you submit or pay anything.
I'm using freetaxusa first time as I listen to this video.
Awesome! Were you able to finish your taxes?
Thanks for your informative video! Do I really have to import 1040 from last year? Last year tax return was done by a professional and I'm attempting to use freetaxusa for the 1st time! Also, should I use itemized deduction if I have $25000 medical expenses?
You don't have to import a 1040. That's just to save some time. You can enter your medical expenses in and see what the software says is best.
You just saved me $65 🤑🤑, and for that I subscribed 🤣🤣
Awesome! I'm glad to have you here. Who do you think got the better deal? You or me? 😂
@@SmartFamilyMoney you 😂😂
@@david36498 Wow I had no idea how valuable your subscription was. 😂
@@SmartFamilyMoney and don't forget it 😂😂😂, good info, soon I'll be checking your other videos 👍👍
Hello great video, I’ve been debating on if I should give this a try, you just made me a true believer now, thank you 😊. Do they have 8915-E form, so much drama with TT I give up?
I'm sorry, I don't know if they have that form, but it's free to try, so it's worth giving it a shot. :) I'm glad you liked the video!
@@SmartFamilyMoney thank you so much for the quick reply as well 🤗 you are the best
Does TurboTax or Freetaxusa business include and file Form 1065?
How long does it take for a refund to come to direct deposit?
Thanks Cindy. Would FreeTaxUSA upload the prior tax year/s Turbotax files (pdf and TB format) I saved in my local drive?
Yes, it can import from a pdf! It should work fine.
Hey Cindy - as others have said, great video. Quick question though. If I have more than one W-2, would I just have to input them separately since I’ve always gotten hard copies from accountants in previous years? Would this mean I need to combine all the earnings among the different W-2s or will the system instruct me on how to enter them separately? Please let me know thanks.
You will enter the W2s one by one into FreeTaxUSA and then it'll do the math for you. It's pretty easy! Good luck.
You don't want to miss the videos but do want to miss all the mid roll commercials !
Thanks Cindy. It’s very helpful information. Can I use my account from free tax USA to prepare tax return for my clients or I have to signup a new account for every clients?
I don't think FreetaxUSA is really meant for paid preparers to use.🤷
@@SmartFamilyMoney Thank you
hello,
How can I add the form 7202, Sick and Family Leave to the file return ?
I looked and I can't figure it out either. They have a help section about it, but it's not clear where to add it. I would reach out to FreeTaxUSA support!
Hello, good night in the freetaxusa program, where can I put in the income for house cleaning that they pay me in cash?
If you have a house cleaning business, you will report your income on a schedule C as a small business.
Much better than Turbo Tax, and near free. Turbo Tax was trying to upgrade me for $120.
I am so glad you found a better and cheaper alternative!
Hi Cindy. Would Free TaxUSA reflect the new Covid Relief package provisions approved by the Biden admin? I'm more focusing on the 10K unemployment income exemption and if the child credit it's extended to dependents over the the age of 16 that are in college (hopefully this is for the 2020 tax year). Should I prepare taxes now and amend or just wait a little more until Free TaxUSA catch up with the revisions?
They sent out an email before it was passed saying they would update as soon as the IRS gives guidance. They have not updated yet but I expect it'll be soon. I would wait a bit.
@@SmartFamilyMoney Yes, just read that in the site portal section. They even recomend to wait wait a bit and stay tuned for the updated. Also, FYI learned from them that there will be a fee for amending. Thanks again Cindy.
Hey I need help with my 1099-b
If you wanted to claim the recovery rebate credit, but have no income to report. Can you just claim $1 of interest income so the e-file will go through and you won't have to print it out and mail it in. The reason I ask is, I have heard if you try to e-file your taxes and report no income, the e-file will not go through and tell you to mail it in instead. Thank you,
I am sorry I don't know the answer to that.
I used this software to file my taxes this year
Would you recommend it?
@@SmartFamilyMoney absolutely so
Where do you live? Filing taxes this year was pushed back to February 12
@@marymartin6181 I think a lot of the tax companies have been accepting the returns even if the IRS isn't processing them yet.
Ok thanks
What if your state has no state returns. Only federal do you still have to pay? Thanks
It will be completely free for you then! I am jealous. 😁
Thank you so much for this info! I'd love to try it. We wonder if our situation is too complicated? We have rentals in another state from where we reside. Thoughts anyone? 🤓
FreetaxUSA can definitely do multi-state and rentals. It's a little complex, but your situation is complex. 😁 I use it for my small business.
@@SmartFamilyMoney Thanks! I'm gonna try it 👍
@@SmartFamilyMoney I have been trying it and sadly it has been difficult to figure out depreciation. I'm sad and find it hard to believe something so common should be so difficult to figure out if the info isn't spelled out on each doc received from your state/county tax records. It just doesn't translate well. I think the program is pretty good and really promising but could use a bit more to guide people more/better. Some videos would be awesome on their end. Thanks again for the review and suggesting this platform. 🙂
Hola Cindy! Is there a way to import my 1099’s???
You can't do an import of 1099s on FreeTaxUSA - you have to type them. But most 1099s are pretty short. :)
Try FreeTaxUSA for completely free federal tax filing:
www.kqzyfj.com/click-9010673-12306146
10% Off With Coupon Code: FREETAXUSA10
What's Prior Year AGI or PIN
im doing my taxes now but before i submit, will it ask for my direct deposit information??
@@kofigiant8614 AGI is your adjusted gross income. It's asking for last year's tax numbers to help prove who you are.
@@louiewishingtin578 if you are due a refund, yes, it'll ask for your direct deposit information to give to the IRS for your refund.
10% off of free....Omm Ok
I need your help. I helped some friends to file their returns, but now we need to file 1040X for the $10,200 tax free. we need to get the tax amount back. do I need need to amend ? and How I do that? please make a video for that.
So far, the IRS has been saying to wait for guidance on this. I think they will need to file amendments, but no one seems to know exactly what's going on. You can do amendments through FreeTaxUSA but there's a charge for it.
Where is how to do tax for 2020 please send me link
Here's where you find the previous years: www.freetaxusa.com/prior-year.jsp
Hey Smart family money i have a ?. I donate plasma and HandR Block started charging me $500 to file as self employed. I was wondering where I would enter that income in Free Tax UAS? Also I will definitely be using your link:)
I am guessing that's on a 1099 for non employee compensation. You will be able to enter that easily in FreetaxUSA. If you can't find it, use the "where do I enter" feature to find the right spot! 😁
@@SmartFamilyMoney thanks
I was told I would get $1.800.00 check within 3 to 4 weeks and it's been a full month and a week and still have not gotten my check
Sorry to hear that! The IRS has been SUPER slow lately. Did you check "where's my refund"? Here's the link: www.irs.gov/refunds
I used freetaxusa for the first time to file my unemployment taxes from last year..I'm waiting on my refund check to come in the mail.it's been a month do u know how long until I receive my refunds?
I am sorry I don't know how long it will take. You should be able to check in the IRS "where's my refund" site.
@@SmartFamilyMoney it still says (processing) like alot of people's smh
Do they have experts to look at it or do it for you
There is support available but no one to do it for you.
Can I get pdf file after using their web ?
Yes, you can download the PDF for no extra charge.
Is there any coupon code for new user?
Try FreeTaxUSA for completely free federal tax filing:
www.kqzyfj.com/click-9010673-12306146
10% Off With Coupon Code: FREETAXUSA10
How do i claim the stimulus check i never got in this website
I don't know all the details about the stimulus checks, but I know when I went through FreetaxUSA, it asked me about how much my family received so it should calculate it for you. Have you tried it yet?
No not yet
There’s a section on there about stimulus rebate. It will ask you if you received a stimulus
Will FreeTaxUSA pay?Just wanna know
With they pay what? If you are due a refund, that would come from the IRS, not FreetaxUSA. They don't do any kind of refund loans or anything.
how do they pay you your refund
You can enter your bank account and the refund will come directly from the IRS.
Do they do direct deposit?
If you are getting a refund, it comes from the IRS, not FreetaxUSA. And yes, the IRS can direct deposit.
One thing is not good you can finish it because you don’t have money to pay tax
You should be able to file now and pay the IRS later.
It's not free, it charged me $20. Its better than turbo tax though, turbo tax would of charged me $46. Free tax usa offered audit protection with that $20.
Federal forms are free if you don't buy any extras. State costs $15. But yeah, $20 isn't bad, right?
FreeTaxUSA has confusing questions that could be pitfalls later on if you're using it for business.
What questions?
Federal is free, state costs 15 bucks.
Yep. Still pretty cheap for a great product, I think!