Tax time is almost here and with so many rules, and so much to take into account, doing your taxes on your own can be a stressful endeavor. There’s a lot of room for error, and it can end up costing you more than you expect if you aren’t careful. Not everyone can afford to hire a tax specialist, but it’s a good idea to get help where you need it. Tax software makes doing your taxes online easier and a whole lot safer, ensuring the IRS doesn’t come knocking on your door. If you are getting ready to do your taxes on time, and hopefully get a hefty return, here are some of the best software options on the market for your consideration.
The following software options offer a user-friendly interface and accurate projections of what you owe to make sure you are getting your taxes done right. Nobody wants to get audited and these software tools will help prevent that with the offer of audit protection. With that said, let’s take a look at the top online options!
TurboTax is one of the most recognized names in tax software. You can file online with Intuit’s TurboTax for just $0. There is a cost for audit protection, which is probably a good idea, but not required. TurboTax makes doing your taxes incredibly easy. Filing on your own is the cheapest option but you can hire an expert to do your taxes for you. You can also do it yourself and get expert help if you are a bit confused – and that totally happens from time to time, and it’s okay, because tax rules are always changing. TurboTax is a customer-preferred software with security in mind. It’s from the makers of Quickbooks which is one of the most popular bookkeeping software tools for businesses.
TaxAct is another software option that offers live advice from tax experts and CPAs. TaxAct promises that you can save up to 35% on federal filing compared to TurboTax. So far, over 85 million returns have been filed since 2000 using TaxAct, so they do have a decent reputation. They also have a $100K accuracy guarantee, so you know they stand by their product. TaxAct offers a few different plans to choose from starting with a free one for simple filers, a Deluxe version for homeowners and those with student loans ($24.95), a Premier version designed for investors ($34.95) and a Self-Employed model for contractors and business owners ($64.95). All versions, including the free version, come with expert assistance.
H&R Block is another notable online filing tool. While they do offer in-person help, they also have online filing for your convenience. Their free online software allows you to fill out simple returns for $0. Manage W-2 forms, unemployment income, student loans and Child Tax Credit all in one space. For HSA contributors, and those with child or dependent care expenses, a Deluxe version for $29.99 is recommended. It’s also the best choice for those looking to do itemized deductions. H&R Block promises you a maximum refund guarantee, experienced tax expert advice and transparent pricing.
If you are looking to do your taxes worry-free, the online tax software options listed above are your best bet. Check them out online today!