Well the new year has come upon us again, that means one thing it is tax time! For many people that is going to mean a way to be ahead on bills and repairs for others it will mean yet another bill to pay. What it can mean for you is a little extra cash. If you have a computer and a little know how you could make a few hundred dollars preparing tax returns for family and friends.
The IRS has made it easy for people to freely do simple returns. If you are talking about a W-2 and Earned Income Credit, EIC then the forms really are a piece of cake. Most people are unaware that they can do their own taxes or a friends with no upfront cost. And with major tax preparation franchises charging upwards of $200 for a simple 1040a tax return it is well worth the money to look into this.
Forms are readily available from the IRS website. All you need to know for a simple return will be included in the instruction booklet also available on the IRS website. Download the forms and the booklets then get busy making a few dollars this year and save your friends and family hundreds on tax preparation fees.
Another simple way that you can help someone with their taxes is to work with them to use one of the several online tax software providers. Many of these are available free of charge, all you need is a separate email address for each individual. Set it up with your computer and internet connection and charge a nominal fee for printing and your time.
If this is something you are interested in doing be sure to check on state laws, some may require anyone who is paid for tax preparation to be a certified preparer or CPA.
WARNING!!
If you have absolutely no head for numbers or a return is complicated by self employment income you may not want to prepare taxes for anyone. A miscalculation could cost a friendship not to mention the issues your friend will have with the IRS.
