Tax Season Tool Kit: 5 Must-Have Tax Software
Tax season is always a difficult period for Americans. The Tax Cuts and Jobs Act makes things more complicated this year as there are new forms to fill.
It is not an easy task to determine how much to pay and what qualifies as credit. Thankfully, today, there are many software that can help you do your taxes faster and without any headaches. But there is a quandary that you have to deal with — choosing the right software.
We’ve created this post to provide you with a comprehensive list of the must-have tax software tools for tax season 2020.
1. H&R Block Deluxe
H&R Block Deluxe is one of the useful software for sorting out your taxes. It comes with lots of features and a user-friendly interface. The main downside of this software is that it is quite expensive compared to others. However, there is a free version, which is quite good.
However, some features are only available on the paid versions. H&R Deluxe allows you to fill the new tax forms with ease. Also, it ensures that you get the credit and refunds that you deserve.
The best part is that if you run into difficulties, you can opt to get live help from H&R Block Deluxe customer support team who are stationed across the country. When using H&R Block Deluxe, you can import your previous tax returns, even if you used a different app to work it.
If you want an online tax software that allows you to get real-time support from trained experts, then you can also hand over your papers to the local H&R Block Deluxe. They will handle your taxes on your behalf.
For more information about H&R Block Deluxe, click here.
2. TurboTax Deluxe
TurboTax Deluxe is an excellent alternative to H&R Block Deluxe. It comes with many of the same features, including the opportunity to opt-in for live support. Although it is more expensive, TurboTax Deluxe is worth the price. It comes with everything you need to file your taxes, including the opportunity to claim credit and get refunds.
What’s more, you can take a photo of your W-2, and the details will be imported into your forms. There is a free version of TurboTax, which allows you to file your 1040 for free. However, the features are limited.
TurboTax is more mobile-friendly than H&R Block Deluxe. TurboTax is interactive and incredibly easy to use. Even if you’ve never filed taxes before, this software will ensure you can go through the process without any hassle.
TurboTax provides access to experts for tax advice all year round. This ensures that when you’re ready to file your taxes, everything will be in good order.
For more information about TurboTax Deluxe, click here.
3. FreeTaxUSA
If you are not willing to spend on H&R Block Deluxe and TurboTax Deluxe, FreeTaxUSA is an excellent option for you. This software doesn’t have a lot of features that you’ll find on the two we’ve reviewed above. This is why it is recommended for people who are a bit experienced with filing taxes.
If you are a novice to this, be ready to Google your way through, or you can pay a bit more to get support. FreeTaxUSA is not technically free. You still have to pay to file for state returns.
However, it doesn’t cost anything to file for federal returns. The software allows you to file for credits and refunds. The user interface of FreeTaxUSA is very simple.
There are many signposts to guide you through the process. As indicated above, this software is for people who know what they’re doing. Even if you don’t fall into that bracket, you can opt for live chat support to guarantee that you’re doing things right.
For more information about FreeTaxUSA, click here.
4. TaxAct
TaxAct is a software that provides a step-by-step guide to ensure you file your taxes properly. This app has a lot of great features and a simple user interface. One of the biggest perks of TaxAct is that it informs you of all the documents that you need to file your taxes.
Also, you can file your taxes electronically and use it to monitor the status of your taxes through the app. Like the other software highlighted above, there is a free version and paid versions of TaxAct. The paid version gives you access to more features that make the process of doing your taxes easier. However, you can still do a lot with the free version, including getting support for your 1040 form.
TaxAct has an intuitive interface that makes the process of filing your taxes straightforward. You can also host it on the cloud of a reliable TaxAct hosting service provider.
TaxAct is recommended for people who are only making basic tax filings. For people with multiple incomes and other tax deductibles, more advanced software is recommended.
For more information about TaxAct, click here.
5. Quicken
Unlike the other software above, Quicken is not designed for filing taxes. Instead, it is a personal finance software. It helps you keep track of your expenses and prepares a detailed report of the taxes that you’re obligated to pay.
Quicken comes with a lot of features that not only help you manage your finances but also ensures that you are prepared during the tax season. Quicken has been around for over two decades and is one of the most trusted money management software available. Quicken is available on a subscription basis. There is also a free version of this software.
For more information about Quicken, click here.
These are some of the best software available for you to handle your taxes. Some other equally good software that you need this tax season is MyTax Refund (to track your tax refunds), Smart Receipts (to keep track of your receipts).
Remember, to avoid any stress during the tax season, it is crucial to start preparing all through the year. Do not hesitate to avail of professional help if you need it.
