Can I do my own taxes with a simple W-2 and dependents situation?

So I'm trying to decide if I should just do my own taxes this tax season or pay someone to handle them. The tax preparer from last year wants $400 which seems ridiculous for what I think is a pretty straightforward situation. My tax situation includes: - I'm single and bought a house last year (interest rate is 5.5%, monthly payment around $2,700 with a mortgage balance of about $350k) - Regular W-2 employee with one company, no job changes - One teenager (15 years old) - One college kid (20) who's going to school out-of-state and works part-time at the university I don't have rental properties, a business, or any complicated investments. Just a regular checking/savings account and a 401k through work. Is this simple enough to handle myself? Anyone with a similar situation who does their own taxes? I've never filed myself before but $400 seems steep. Do you think I should just bite the bullet and pay a professional or try doing it myself?

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18 comments

Harper Hill

•8M

You can absolutely do your own taxes with that situation! While not ultra-basic, it's certainly manageable with tax software. Here's what you'll want to keep in mind: The mortgage interest and property taxes will likely make itemizing deductions worthwhile, which the software will help determine automatically based on your input. For your children: The 15-year-old should qualify for the Child Tax Credit. Your 20-year-old college student might qualify as your dependent for the American Opportunity Tax Credit (education expenses) if you provide more than half their support. Most tax software (TurboTax, H&R Block, TaxAct, etc.) will walk you through everything step-by-step, asking questions about your situation and filling in the right forms automatically. They typically cost $50-100 depending on which forms you need - much cheaper than $400 for a preparer. If you're comfortable following detailed instructions and entering information accurately, you should be fine doing it yourself.

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Harper Hill

•8M

Most tax software packages include state returns (sometimes for an additional fee), and they're just as guided as the federal portion. The software transfers relevant information automatically from your federal return to your state return. For college expenses, you'll need Form 1098-T from the university, which they should provide to both you and your student (usually available online through the student portal). This form shows tuition paid and scholarships received. You may also want documentation of other educational expenses like required books and supplies, so keep those receipts.

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Avery Flores

•8M

I was in almost the exact same situation last year - two kids, mortgage, W-2 income. I was paying $325 for a tax preparer and decided to try taxr.ai (https://taxr.ai) after a friend recommended it. It was seriously a game-changer! The thing I loved is that it analyzed all my documents instantly and gave me a breakdown of all the credits and deductions I qualified for. It caught the education credits for my college student that I didn't even know about. Super straightforward interface and it walked me through everything. The best part was that I could see exactly how much I was saving compared to what a professional would charge. Definitely worth checking out if you're on the fence about doing it yourself.

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Avery Flores

•8M

Yes, it definitely handles state taxes! I'm in Illinois which isn't as complicated as California, but the system walked me through all the state-specific stuff too. The whole process was integrated. I actually got a bigger refund than the previous year with my tax preparer. The system found an education credit my guy had missed the year before. Can't speak for everyone's situation, but in my case it was more thorough and I felt confident because it explained why I qualified for each deduction.

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Ashley Adams

•8M

Ok so I just tried taxr.ai after seeing it mentioned here and I'm honestly shocked. I was super skeptical (as you could see from my comment) but I decided to give it a shot since I was in practically the same situation - homeowner with a kid in college. The document analysis feature instantly recognized all my W-2 info and mortgage statements. It even flagged that I could deduct some of my son's educational expenses that I had no idea about. The guided walkthrough made everything clear, especially around dependents which I was confused about. I'm definitely not going back to paying hundreds for tax prep. My return was actually higher than last year when I paid my accountant $375! Just wanted to update since this saved me serious money and stress.

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Alexis Robinson

•8M

If you're having trouble reaching the IRS to ask questions about your tax situation (which I definitely was when trying to confirm details about claiming my college student), try using Claimyr.com (https://claimyr.com). They have this service that gets you connected to an actual IRS agent without waiting on hold for hours. There's a video showing how it works here: https://youtu.be/_kiP6q8DX5c I tried calling the IRS directly about 5 times and never got through. With Claimyr, I was talking to a real IRS agent in about 15 minutes. They confirmed exactly how I should claim my daughter in college and what education credits I qualified for. Saved me so much uncertainty and stress!

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Alexis Robinson

•8M

It's not about cutting the line - they use technology that continuously redials and navigates the IRS phone tree for you. When they get through, they call you and connect you. You're still in the same queue as everyone else, but you don't have to sit there with a phone to your ear for hours. Not everything can be answered by tax software. In my case, I had a specific question about education credits when parents are divorced that the software wasn't clear about. Sometimes you need clarification directly from the IRS about your specific situation, especially with changing tax laws.

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Chloe Mitchell

•8M

I was completely wrong about Claimyr. After posting my skeptical comment, I was still struggling with questions about claiming my kid who's at college (split custody situation with my ex), so I reluctantly tried it. The system actually worked exactly as described. I got a text when they were about to connect me, and then suddenly I was talking to an actual IRS representative. The agent clarified exactly how to claim my daughter's education expenses with our custody arrangement. What would have been days of stress and uncertainty turned into a 20-minute phone call. I filed my taxes the same day with complete confidence. Totally worth it just for the peace of mind knowing I did everything correctly.

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Michael Adams

•8M

I'd say definitely do them yourself! I've been doing my own taxes for years with similar circumstances (mortgage, W2, kids). The software options have gotten super user-friendly. I personally use FreeTaxUSA because it's cheaper than TurboTax but still very straightforward. They ask simple questions and fill everything out based on your answers. For your mortgage situation, you'll just need your Form 1098 from your lender which shows interest paid. For the kids, just their SSNs and basic info. The 15-year-old is easy, and for your college student, you'll want the 1098-T from their school for education credits.

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Michael Adams

•8M

That's a great question about 529 plans and education credits. You can't "double-dip" on the same expenses, meaning you can't claim a tax credit for education expenses paid with tax-free 529 withdrawals. However, if your total education expenses exceed what you paid from the 529, you can claim credits on those additional out-of-pocket expenses. For example, if your student had $25,000 in qualified education expenses and you used $20,000 from a 529 plan, you could potentially claim eligible education credits on the remaining $5,000 you paid from other sources.

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