OT: First time filing taxes need your help.

mrd694 · Jan 8, 2007

Im 20 and this is gonna be my first time filing taxes and I was thinking how to do it. I have one source of income and that is my job and I do not own anything or have any kids or a wife(s). Did anyone every try to use turbo tax does it work or should I pay someone to do them for me but since I don't have alot to report I figured I can do it myself? My other question is I have about 10gs saved up and would like to put it in some kind of savings account. I saw that some bank offer 5% APY is the 5% paid monthly or yearly?

WVU · Jan 8, 2007

turbo tax will take you 15 minutes tops

Fishhead · Jan 8, 2007

mrd694 said:
Im 20 and this is gonna be my first time filing taxes and I was thinking how to do it. I have one source of income and that is my job and I do not own anything or have any kids or a wife(s). Did anyone every try to use turbo tax does it work or should I pay someone to do them for me but since I don't have alot to report I figured I can do it myself? My other question is I have about 10gs saved up and would like to put it in some kind of savings account. I saw that some bank offer 5% APY is the 5% paid monthly or yearly?[/quote]

I recently opened up a SAVINGS account at Countrywide........their current rates on savings accounts is 5.25% APR on accounts with a minimum balance of $10,000 and 5.40% on accounts of $50,000 and above.

Interest is paid on the last day of every calender month.

mrd694 · Jan 8, 2007

Thanks guys

snoop · Jan 8, 2007

If you wanna save some bucks, stop by local post office to pick up Fed & Local Tax Booklet; I believe you should use 1040EZ for your filing status. Otherwise, if you want to e-file, TurboTax is a way to go.

TTinCO · Jan 8, 2007

Yep, get the 1040-EZ, and you'll be done in 10 minutes.

moethepuppy · Jan 8, 2007

Turbo Tax is a great program, but not in your case. Download a form from the irs web site (1040EZ) and go at it.

Dante · Jan 8, 2007

I use turbo tax also ..works great and it saves you about 80$ in fees by going into HR block or somewhere like that

you just need your W2 and thats it wroks great and never had a problem I file electronically and get my refund in about 2 weeks