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Tax-filing with Free File – Pros and Cons

If you’re doing your own business taxes, you need a good tax software program. Whether you want to maximize your credits and deductions, or avoid penalties and audits, you need to be sure you’re partnering with a great company. Incomplete forms and inaccuracies are unforgivable when it comes to taxation, so it’s important to select software that’s going to do the job right the first time.

IRS Free File Software

Might be good for you: If you want a variety of options to choose from. IRS Free File Software allows you to prepare and e-file your taxes for free through certain brand-name software.

May not be the best: If your adjusted gross income in 2017 was more than $66,000, you cannot use IRS Free File Software to file your 2017 taxes.

Pros

Works with multiple free brand-name software programs. The IRS website lists a dozen free-file software providers.

Help choosing a provider. By answering some basic life questions such as your income, age and state of residence, the Free File Software Lookup Tool can help you choose a Free File Software provider for your tax situation.

Cons

There’s an income limit. You can’t use IRS Free File to file your 2017 tax return if your AGI exceeded $66,000 in 2017.

You may not qualify for all the business automation software available. Each software provider may have its own eligibility requirements, and you may be restricted based on your age, state of residence and/or military status.

You may have to pay to file your state taxes. Some companies will allow you to also file a state return for free, while others will charge. You’ll need to review each company’s offering to find out if a state return is included in the free e-filing service.

So, What is unique about Free File?

Completely free taxation platform. Free File allows taxpayers to choose their preferred company to prepare and efile tax returns for free. It is also combined with direct deposits to enable users to obtain refunds in a shorter period of time.

Free fillable forms. The Free File Fillable Forms offers taxpayers a convenient way to fill IRS forms electronically. It is an excellent option for taxpayers used to preparing and filing income taxes on their own.

Tax breaks. Free File features a question-and-answer format which is instrumental in helping eligible taxpayers to find tax breaks. Some of the possible tax breaks reserved for taxpayers could consist of credits like the earned income tax credit and more.

Easy online extensions. If for any reason you fail to finish your tax return by the deadline, you can request a six-month extension using the Free File. However, the extension to file your returns will not mean an extension of the time to pay.

IRS partnership. This service is, in fact, a result of the partnership between the International Revenue Service (IRS) and the Free File Alliance, a union of the leading private sector tax preparation institutions.

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Outsourcing IT Services – Why Should You Outsource IT Services

Outsourcing is a critical relationship and important than anything else so select the supplier with whom you feel most at home. Also, do not just choose a great technology company; choose one whose sector understanding is as strong as its technical expertise. Retailers should look to work with an outsourcing partner who has specialist knowledge and can work to the structures and timetables imposed by retail, such as overnight processing and pick schedules.

Ensure that your outsourcing partner is resourced by a team that understands your business challenges. Look for a critical mass of staff with the right skills, plus make sure you get continuity of key individuals. It is important too to be able to talk directly to senior managers, or better still to board members, in the outsourcing partner organization.

Why Should You Outsource IT / Web / Tech Services – Top 5 Reasons

1. Control IT Costs
Outsourcing converts fixed IT costs into variable costs and allows you budget effectively. In other words, only pay for what you use when you need it.

2. Reduce Labor Costs
Hiring and training an IT / web / online staff can be very expensive, and temporary employees don’t always live up to your expectations. Outsourcing lets you focus your human resources where you need them most.

3. Qualified doesn’t Equal Experienced
Few problems are new for leading IT service or web / software companies, which see related problems multiple times. An in-house IT employee leads an isolated existence no matter how much they train.

4. Increase Efficiency and Competitiveness
Organizations that try to do all IT and web Services in-house themselves can have much higher research, development, and implementation time, all of which increase costs and are ultimately passed on to customers.

5. Stay Focused on Your Core Business
Businesses have limited resources, and every manager has limited time and attention. Outsourcing can help your business stay focused on your core business and not get distracted by complex IT decisions.

If you made a wise choice of partner, you should have enjoyed a positive working relationship that has yielded the results you sought at the outset. If this is the case, you are likely to renew the contract with the same partner in order to leverage the investment that you and they have made in your business over a number of years.