Ask Terry Questions Income tax preparation

Income tax preparation

By Terry Savage on February 13, 2025 | Financial Planning / Retirement

Terry,
I am an 80 year old woman with an IMRF pension and social security I have a portfolio of about $350,000. I take the standard deduction. Do I need an accountant who charges upwards of $500, or can I use TurboTax?
Thanks,

Terry Says

No you don’t need an accountant. And if your income is under $84,000, you can use the IRS FreeFile system.
Read this: https://www.terrysavage.com/tax-time-again/

money

ASK TERRY

a personal
finance question