3 On Your Side: Smartphone Tax Apps
PHILADELPHIA (CBS) -- Nobody likes doing their taxes, but home computers and sophisticated software programs make it a lot easier. These days you can even do your taxes via your smartphone. But 3-On Your Side Consumer Reporter Jim Donovan suggests that you take some things into consideration before you go that route.
Tax apps for your smartphone, they allow you to put together a tax return and even e-file it to the IRS. But financial advisor Josh Mungavin says not so fast! According to Mungavin, "Most people who can file on their phone can also log on to the IRS's website and file for free. Anybody that earned less than $58 thousand dollars last year can file their taxes electronically for free. Working in front of your computer is going to be much easier than working on your phone screen."
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If you still want to try using your smartphone to file and don't mind the small screen and tiny keyboards, look for tax apps that also offer extra tax tips on the phone or online. Also make sure it can also e-file your return to the IRS and double check any security features since you'll be storing and sending your most personal financial data. Finally, double check the product reviews.
Smartphone tax apps are available for iPhone and android platforms. They usually cost less than $10, and many are offered for free. Don't forget, their cost is probably tax deductible.
But, if you have many deductions, investments, or any other tax complications, you may need to file a more complicated tax return and consider the advice of a tax professional.
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Reported By Jim Donovan, CBS 3
