What are the Best Tax Softwares?
If there is anything certain in life, they are death and taxes. Taxes have to be paid, like it or not. Paying taxes involves many calculations. Especially, if you have a business, the calculations get more complicated. That is where software will help you. There are some tax softwares available, which can help you with the calculation. All you have to do is enter your salary details and other details, and your calculation is done automatically.
There are a lot of softwares available in the market. These software helps you to prepare your tax returns and even file online. The software can be used by individuals and also by experts like CPAs. The user has to just input all his data and the software would do the rest.
Which are the best software available, which you need to know about? Which software should you consider using? Read to know the answers to these questions.
- Turbo Tax
One of the top tax software is Turbo Tax. The software is free for basic features if you have a simple return to file. However, if there are complicated calculations, then you have to pay for the additional features. The software costs $60 for the complete features. The software has many options to make complicated calculations easy. It is professional software. You can even chat online with tax experts to resolve any queries.
- H&R Block
H&R Block offers free tax software. You can do the filing online for free. You can import W2 and 1099-INT forms into the software. The software is user-friendly and offers a step by step method for you to prepare your tax returns. For advanced features like investment income and self-employment income, you need to pay extra. The premium version costs $94.99 and provides with all features you would need, including consulting with tax experts at H&R Block’s office.
- Tax Act
Tax Act is a simple program that works well for basic tax returns, where you don’t have any complicated issues. The software gives a 100% guarantee for accuracy. If their software makes mistakes in the calculations, they assure that they will refund the cost of the software plus all liabilities. This is a big USP for the software. The software cost varies from $17 to $69.95 depending on the version of the software and the features you are looking for. While they offer most features, they do not have an option to consult with experts.
- Tax Slayer
This software was initially meant for tax professionals, but later the software was offered for individual users. It has a unique quick file option to help you to file your returns fast, provided there are no complicated calculations. There are options to help you file your return in step by step manner, which will be helpful for novices. The premium version costs $40 and is value for money. It also offers support options through phone and chat.
- Free Tax USA
This software uses a simple question and answer method to collect information from users and prepare the returns. Federal returns can be filed for free and for state returns you need to pay $12.95. It has a good user experience. The paid version of the software offers audit protection and assistance of a professional if you have to face a tax audit. It is a value for money software.
Various tax software are available to help you prepare your tax returns and file them online. Different software has different features. This article lists out the top software and its benefits, which will help you to decide which software to use
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