TAX SOFTWARE

It's been said that there are only to things you can count on in life; Death and Taxes. Calculating the amount of income tax you owe every April can be an arduous task. Reading the forms, putting in the correct numbers, looking for deductions, double-checking your math; it can be a very time-consuming and frustrating experience.

Fortunately, there are options. You can pay an accountant a large fee to do your taxes for you. Or, as millions of people have discovered, you can us tax software to do your taxes on your computer - quickly, easily, and for a fraction of the cost of a tax preparer. Plus, you can e-file your income tax directly to the IRS and receive your refund in as little as 7-10 days!

There are many factors you should consider when looking at tax software. Some of these include:

•  Selection.  Are you single, living in an apartment with no kids? Married, in a home with children, Own a small business? You want to make sure the tax software you select meets your needs.

•  Convenience.  Do you want an easy-to-use, step-by-step tutorial to guide you through the tax process? Or do you want to get right into the forms, and fill in the blanks yourself?

•  Cost.  What is the cost of the package, compared with similar products?

TopConsumerReviews.com has reviewed and ranked the best tax software available today. We hope you find these reviews helpful in completing your taxes safely and easily!

 

Cost:

Ranges from Free to $74.95

 

TurboTax is excellent tax software for the novice tax preparer. With multiple products to choose from, TurboTax is designed to fit your exact needs at tax time.

TurboTax offers four different products based on your individual needs. These products are:

•  TurboTax Basic, which walks you through the 1040EZ Federal return.

•  TurboTax Deluxe, which is designed to get you the maximum return based on Schedule C deductions, in addition to everything you would get in the Basic.

•  TurboTax Premier, which includes everything in Deluxe but will delve deeper into your investment earnings and rental property earnings.

•  TurboTax Home and Business is best for you if you are a sole proprietor, consultant, contractor or single-owner LLC. This product includes everything you get in Premier.

Every TurboTax product includes all the information needed to complete Federal returns. State returns are easily added.

The beauty of TurboTax is how easy it is to work with. In a question and answer format, the software walks you through each section of your tax return to help make sure that you are not missing any deductions or missing any income that needs to be reported. Each section is logically organized. With online help available, as well as audit protection, you can be confident in your ability to complete your return safely and correctly. You also have the option to get immediate help on your return by using TurboTax Personal Pro, an online resource for help.

If you already use Quicken then you have the capability of importing all of your tax information directly into the TurboTax product you choose. TurboTax is available for you to use online, via download, or run on a computer through cd-rom. TurboTax includes the ability to e-file directly to the IRS, so you can get your refund as quickly as possible. TurboTax also offers Audit Defense, which can be purchased in addition to your preparation software. Purchasing this additional service provides you with full representation from a trained tax professional in the event you are audited by the IRS.

TurboTax is excellent tax preparation software. It does the footwork for you, and is backed by more than 250 CPAs and experts who dig through volumes of tax laws to ensure TurboTax is up to date. You are sure to find this product easy to work with and may even find tax time an enjoyable experience. TurboTax earns our highest rating.

 

Cost:

Ranges from $9.95 to $59.95

 

TaxCut, H&R Block's personal tax preparation software is available online and through cd-rom purchase. By choosing the online version of TaxCut you save quite a bit of money. TaxCut is easy to navigate and you do not have to have a background in math in order to understand the product. You are able to walk through each step of the program as it asks you questions pertaining to your specific tax situation.

TaxCut Online offers three different products -

•  Basic plus e-file, which walks you through the 1040EZ

•  Premium plus e-file, which helps you get the most deductions possible. It also gives you free access to an H&R Block tax professional.

•  Premium plus State plus e-file, which allows you to bundle your Federal and State return costs. This is their best online value.

You can purchase TaxCut in cd-rom format as well. The products offered via cd-rom are Premium, Premium plus State, and Premium plus State plus e-file.

TaxCut Premium offers the most compatibility with other money software programs. You can import financial or tax information from TurboTax, Microsoft Money, and Quicken. TaxCut is an excellent product for any novice tax-preparer to use. The program asks questions while filling out your tax forms behind the scenes. If you have questions, you are able to click and get immediate answers. Multimedia help is available, and if you e-file your return you will be eligible for "worry-free audit support".

If you are looking for a quick and easy way to prepare your own taxes, TaxCut is a very good product.

 

Cost:

$25.95 - Federal $12.95 - State

 

Complete Tax is an online-only tax preparation service offering Federal and State options. There are not bundled packages to choose from, just a no-frills approach to completing your taxes online. Complete Tax will appeal to you if you are used to filling out your own tax return and do not need the question and answer style of some of the other programs.

Complete Tax is an interview format with a help search box where you can find answers to questions you might have. This product is able to import data from GainsKeeper so you can calculate capital gains and losses onto Schedule D. It will offer you suggestions for overlooked deductions and look for errors in your return. Beyond this, there are no special features to Complete Tax.

Complete Tax is capable of e-file and offers other services on their website such as financial calculators, a tax guide, free tips newsletter, online chat service, and free e-mail support. Complete Tax is a no-nonsense way of completing your tax documents online.

Complete Tax is backed by CCH, a market leader in tax and business law and software solutions. CCH has literally been in business since the U.S. Federal Income Tax was created in 1913. Having such a reputable company behind Complete Tax only makes the reliability of the product that much better.

 

Cost:

Ranges from $19.95 to $69.95

 

Tax Brain offers online tax preparation and e-filing. Both State and Federal returns start at the same price. All 50 states are supported by Tax Brain so you can use this product no matter where you live. Tax Brain offers live customer support through online chat, and they offer an accuracy guarantee. Tax Brain includes e-filing to the IRS in the purchase price so there are no extra fees. Since Tax Brain is only online, you do not have to wait for the product to load; everything is available quickly.

Tax Brain is very similar to filing out paper forms except you are doing it online. This may not be the best online tax service for the novice preparer. However, if you understand your tax situation, Tax Brain is a quick and reliable way to do your taxes. Tax Brain does offer additional features like quick loans for refunds as well as archiving options. For extra fees they will even send bound copies of your taxes to you. They also will save your tax information to their database for up to five years for additional fees.

Tax Brain is a quick solution for your online tax preparation needs. You can complete your returns in a timely matter and get a quick refund if you take advantage of their loan feature.

 

Cost:

Ranges from $14.95 - $49.95

 

Tax Simple is an easy-to-use online tax preparation service. There are three tax packages offered:

•  Simple, which supports all 1040 forms and all states.

•  Deluxe, which features Federal and State returns

•  Business Tax Returns, to prepare Corporate, S-Corp, Partnership, Fiduciary, Exempt, Gift, and Estate tax returns.

Both the Simple and Deluxe packages require State forms to be purchased separately.

Tax Simple walks the preparer through an easy to understand series of questions to gather the necessary information. You have the ability to use their online tax guide to help answer any questions that come up. Once you have answered all of the preparation questions, Tax Simple fills out the right forms for your situation. Tax Simple then performs the calculations and checks for errors on the return. Once the form is free of errors, it electronically files your return with the IRS.

Tax Simple offers a playable demo so you can see what it's like to use their service. You can enter all your tax information for free, and only have to pay if you decide to file electronically or print it off and mail it. They also make it easy for you to view your printed return, or check your e-file status.

Tax Simple is a user-friendly way to prepare tax returns on your own. Other sites will offer you more in the way of options and helpful information.