Frequently Asked Questions
If I purchase or subscribe, do I still have to file my own tax return?
Yes! Deductology products and subscriptions do not replace any tax filing requirements you have. Deductology is not a tax preparation service. You still need to file your own tax return, separate from Deductology each year. It is recommended you use Deductology reminder and questions to assist you in knowing what you ask a tax professional or what research you do to maximize deductions and credits.
How much money will this save me each year?
Our timeline guides and alert system can help you identify opportunities or deadlines you might otherwise miss, which may lead to tax savings. The specific reminders we choose are the most common items that can save taxpayers tens, hundreds, or even thousands of dollars. However, specific outcomes depend on your individual situation and decisions made with your advisor.
Are the timeline guides the same year after year?
No. The timeline guide is continually updated based on changes to tax laws and IRS guidance. While some items on the timeline guide will remain the same each year (such as when to make estimated tax payments), others will be updated based on their potential benefit or what the current tax code allows. Deductology is constantly looking for the best opportunities that should be included on our timeline guides and alerts each year.
Is Deductology offering tax advice?
No. Deductology is an educational and planning resource. It’s designed to help you be more informed and proactive, but it doesn’t replace personalized advice from your CPA or tax professional.
Will Deductology talk to my tax preparer when I file my tax return?
No. This is an educational and planning resource that is not giving specific tax advice. Rather, Deductology alerts you when to talk with your tax preparer about a credit or deduction that could be considered during the tax preparation process. You should rely on qualified tax professionals to prepare your tax return each year and rely on their tax advice as you choose.
Shouldn't this be coming from my tax preparer already?
Most tax preparers are reactive by necessity. They focus on filing returns and answering questions as they come up. Deductology helps you bridge the gaps between those conversations by keeping key planning moments on your radar, so your time with your tax professional is more productive.