The days when filing taxes involved reams of paper and an adding machine are long gone, but several myths about taxes still persist from those days. For instance, tax season continues to conjure up an image of hauling shoeboxes full of receipts to an accountant’s office and handing over a huge chunk of your earnings to the government. The modern truth of taxes is that many people get a refund at tax time, and filing by yourself is becoming a more accessible option every year.
The federal government has paid out billions in refund dollars in recent years. Many people believe that if they will get a refund at all, it will be only a few hundred dollars, which stops some people who would qualify for a refund from even filing a return. The truth is that the average refund these days is nearly $3,000, an amount well worth the effort of filing the 1040 form or its simplified cousins, the 1040A or 1040EZ.
Another outdated myth is that you need an accountant to fill out all the necessary tax forms. The reality is that a multitude of websites and programs are available that can guide you through the process to fill out all the forms you need and store your information securely. If you’re using a powerful smartphone on a reliable network, like T-Mobile’s iPhone 7, you can even work on your taxes while you’re going about your daily life., you can even work on your taxes while you’re going about your daily life. The iPhone’s large Retina display and ready LTE and Wi-Fi capabilities make it easy. Check out this infographic for more insights into the modern reality of filing your own taxes.
Financial professional and online entrepreneur, I'm best known as The Financial Blogger. I want to make money because I like enjoying life the way it should be; with a lot of great food and wine! I also love to spend time with my lovely wife and 3 kids!
