Tax season is a time of great stress for many people paying taxes. He also announced that the math-proficient pages and the tax code and line pages were less than user-friendly. Happily we are past the days of paper notebooks, little paper and calculators! Many online tax preparation services and self-service tax calculation and filing software have made the process much more user-friendly. With all the tax preparation software options and competing services, how do you know which software will perform well under the pressures of tax season? These five online tax preparation programs will make your life easier as you approach those crucial taxes!
H&R; Blockat Home. The latest online tax preparation software from H&R; The TaxCut software block is a site that the company has used for several years. The latest version remains user-friendly with various levels of development available for many users’ needs. Those with basic income easily use the lower-bound program, while those with more complex incomes require more detailed, more expensive levels of development. Returning software allows users to import basic information from previous returns to allow an amazing time saver! Users enter details as the program “interviews” them through the fields of personal information, income, credits and deductions. The software library is equipped with a helper tool to explain almost every question during the interviews. The service also allows free consultation with H&R; A professional tax advisor to resolve any minor issues. As with most tax preparation services, users can use eFile for free with paid preparation.
TurboTax. This program from Intuitive remains popular. As with H&R; Blocked at Home TurboTax software allows the previous year’s TurboTax totals to be entered as well as supporting the import of QuickBooks financial data. This software offers bundled levels for users to choose from based on the level of support and detail required for each tax situation. The online system, as well as a downloadable version, offers easy-to-understand “interview” questions that allow users to enter details on appropriate forms. TurboTax provides documentation support throughout the process but, while professional consultation is available for a fee only, the service includes access to an online forum for help and questions. Again, free eFiling is available to those with a payment preparation form.
TaxAct. This is one of the least expensive pieces of software for the amount of detail and level of service provision. TaxAct imports the previous year’s features, but there is no software upgrade for users of older versions. Those with older versions of the software should check out the newer downloadable software. TaxAct differs from the previous two pieces of software in that users can choose a user-friendly “interview” style data entry OR enter numbers directly into manual forms. This is great for those who manually fill out forms but want the opportunity to efile. Some of the “interview” areas are more drawn out than those covered in the other two programs, but TaxAct offers email or phone support when paying provides advice and unique forms that support the completion of college FAFSA documents. Free eFiling is also available for free form preparation.
CompleteTax. This program offers much of the same functionality as the last three programs, but with less ability to perform more complex returns. Users can import previous year’s notes as well as payroll information from affiliated servers. CompleteTax uses interview style data entry and has a wealth of tax resources information in its library. The interviews and information provided are not as simply conceived and easy to understand as the published services mentioned above. Users have access to customer-service via email and online chat and free eFiling is available for payment of the preparation form.
TaxSlayer. This is a very low cost option that seems to work well for simple incomes. Data can be imported from previous returns and the software uses conversational style data entry and has a large database search facility. Lately, the software seems to be slipping in functionality as filing errors become more common on more complex returns. For those unfamiliar with credit and deduction eligibility or for those with more than basic, simple income, TaxSlayer may not be ideal. Ministers are made by email and are not as readily available. For simple, W-2 income statements in one state without itemized deductions or investments, or the need for customer service; TaxSlayer’s cost makes it a viable option.
Tax preparation software has come a long way in the past decade. Most programs allow users to program the sample and complete the return in many cases—requiring payments only once the return is filed or printed. Try a few before choosing one to find the style and tone of the program that most challenges you and fits your individual tax situation.
