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Prepare Your Own Taxes and Save!

Are you waiting for your W-2 to arrive in the mail, so you can run to a tax service to request that refund?  Well, before you jump in the car, I need you to read this. 

Tax services are like loan sharks when it comes to refund anticipation loans. They charge exorbitant fees for you to get YOUR money.  Plus you pay additional for administrative and filing fees.  If you electronically file your taxes with the IRS by using a software package, such as Tax Cut or Turbo Tax, then you will receive your refund in two to four weeks via a direct deposit in your account. You can get such software at Wal-Mart, Best Buy, Circuit City and other retail outlets. The cost runs from $20 to $40.  That’s minimal compared to what you are going to pay to get a loan on your refund.

 Some people think that doing taxes is so difficult.  Maybe if you are Oprah Winfrey because she has multiple business dealings.  Most people do not have their own conglomerate, so we can do our taxes ourselves by using such user-friendly tax software mentioned above.  All it takes is time to sit down at a computer with all of your important tax information near you, like your W-2.  The program will walk you through each question, just like a stroll in the park. 

 Note:  Check the IRS website at www.irs.gov for free federal electronic tax preparation and filing (available for qualified taxpayers). 

Happy Saving!