Life DIY 101 | How to do Your Own Taxes

It’s Nacho introduces Life DIY 101 videos! These are short videos we have produced which teaches you how to change a tire, basic cooking, how to taxes, etc. Basic things that you need in real life with a dash of It’s Nacho humor.  Every Tuesday, Thursday, and Saturday!

Life DIY 101 Videos | August Schedule

  • Thursday, August 10 | How to change a tire
  • Saturday, August 12 | How to do taxes
  • Tuesday, August 15 | How to perform basic 1st aid
  • Thursday, August 17 | How to sew
  • Saturday, August 19 | How to basic cooking
  • Tuesday, August 22 | How to jump-start a car
  • Thursday, August 24 | How to perform CPR / Heimlich maneuver

Life DIY 101 | How to do Your Own Taxes

doing taxes manually

I know what you’re thinking. They have online filing options so you don’t have to do your own taxes, but if you knew how much money you’re leaving on the table doing it this way, you’ll explode! Some people have complicated tax situations and may even be better off preparing their taxes manually and submitting them by mail. Watch this video to learn how to do your own taxes and take home some extra moolah!

1. Get the tax forms you need from your local library, post office, or the IRS website.

tax forms

2. Prepare your federal and state taxes according to the instructions. Start by filling in sections relating to your income and then move on to any deductions that you can subtract from your tax debt.

3. Let’s see how much you owe. You may be able to apply deductions and credits depending on how you filled out the other sections of your tax return.

4. Review time! Check for mathematical errors and incorrect or missing information.
It’s Nacho Hot Tip: You may want to hire a professional to go over your taxes and catch any errors before you send them in. They may catch errors that you have overlooked, which means more money for you!
5. Mail your tax returns using certified mail on or before the filing deadline, which you may heard of is April 15th. Use the addresses provided in your instructions to mail your federal and state returns separately.

Mail your tax returns

6. If you owe money, you can make a payment by doing electronic funds withdrawal from a checking or savings account, by credit card or debit card, by mailing a check or money order.

7. Need more time?? If you think that you will need an extension, you can request one online or by mail. Keep in mind that you must file your request for an extension by April 15th. If you apply for an extension, you may be allowed to procrastinate 6 more months to file your tax return.

procrastinate

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