Free isn't Always Good

Uncategorized Jun 15, 2020

There's always free cheese in a mouse trap.

The free tax services you see on commercials are not telling you something.

It has a little disclaimer, it says for basic services. Some may say "postcard" service.

But you don’t see the notice and think “It's totally free.” You can go to the IRS website and do your taxes for free yourself if you qualify.

A problem with going into one of the box stores is the reason it's free is because they're not filing extra forms for you. So you might be missing out on thousands of dollars in deductions to save $50 or $60 bucks through their services.


But they don’t tell you that. They usually ask general questions that are prompted by a computer program. An often missed question & deduction is if you have someone in your family that is a student, college or post-grad. There are education credits that can lower what you pay in taxes.

Once you add the education credit, you're no longer considered a basic tax return because there's an additional form. You may pay $80 for the form, but the deduction could be up to $2500.

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