Filing your taxes is confusing enough without the additional stress of figuring out which tax software works the best. So, we’ve done the research for you and listed out the best options that you can consider for filing your taxes online. Read on so you know which tax software to use during tax season.
H&R Block Free: If all of your income is from your job (as opposed to receiving income from sources like dividends, interests, etc.) and you claim the standard deduction, you won’t need to use complicated tax-filing software. In fact, you can file your Form 1040 for free using H&R Block Free. Additionally, this software also lets you file schedules 1 and 3, which is a bonus. If you, however, run a business, freelance, or are a landlord, you will likely need to use H&R Block’s paid tax software versions.
TurboTax: TurboTax has an extremely intuitive interface, which in fact makes you feel like you’re having a chat with an efficient tax preparer. You can skip certain parts if you need to, but the software will keep track of where you are and flag the areas that need completion. The software includes embedded links that offer explainers, tips, and other resources to help you file your taxes easily. The software, however, is offered for a price ranging between $60 and $120 plus state costs.
TaxAct: While TaxAct is not as well known as some of its competitors, it is less expensive in comparison to H&R Block and TurboTax. You’ll find that the software isn’t as fancy as many others, but you will get on-screen, on-demand access to a tax pro and the data-entry process is pretty similar to what’s offered by the competition.
TaxSlayer: What sets this tax filing software apart is its pricing model. Rather than charge you for the level of functionality, it charges you based on how much support you need. Simply put, the cheapest and most expensive packages handle the same tax situations – what differs is how much support you get during the process. So, if you are an expert tax filer and really don’t require much help, you can save a lot of money by opting for TaxSlayer.