INSUBCONTINENT EXCLUSIVE:
Years ago, many folks needed an accountant to do their taxes, with the daunting task of figuring out which tax forms to collect from the
local public library, needing to calculate the tax burden on those dreaded tax tables, knowing on which line to enter all those numbers, not
mention the difficulty of making an itemized list
With even a simple tax return requiring quite a bit of labor, it is no wonder accountants thrived. These days, the right accounting
software can turn even a novice tax filer into a DIY accountant
These programs ask a series of questions as part of an interview process, and then do the heavy lifting to put all the correct numbers into
the right boxes, and even transmit your return electronically
Here are five great choices to cater for your tax needs1
TaxSlayerAffordable costs Additional help for the self-employed Phone and online support included State return is additional
fee TaxSlayer positions itself as a bargain tax solution, offering prices that undercut the competition across multiple tiers
The base tier of TaxSlayer for basic returns, known as SimplyFree, offers a Federal and State return, including the eFile, all for free,
but only for 1040EZ forms
The more popular Classic tier includes all major Federal tax forms, and includes a W-2 import for a dirt cheap $24, but the State forms are
an additional $4.95 fee, which should be fine for most users.The offerings top out at $47, and cover the specific needs of the
self-employed, including contractors and 1099’s, and also require the additional fee for a State return
There is an online guide to assist users in choosing the best version of the program for their needs
Even at these affordable prices, a notable feature is the included phone and email support (24 to 48 hour response) on the lower tiers,
and live chat on the higher tiers
TaxActThe no-frills tax solutionAccuracy guarantee Five tiers to cover all situations Lacks email support State cost is higher than
competition Sporting a simplified interface, TaxAct takes a no-frills approach to the chore of doing the taxes in the cloud, while
undercutting the prices of the bigger players.TaxAct starts with a free tier, which is fine for filing a Federal 1040EZ return, although the
State is $17 additionally
There are five tiers in total, topping out at the Premium tier for $69.95 which covers all situations, although the State return at this
level adds an additional $39.99
TaxAct has all the basics covered, including importing W-2’s, and importation of prior year returns
There is also mobile app support for calculating returns on the go, and you can even use your smartphone camera to capture your W-2 income
form. TaxAct eschews email support, in favor of phone and chat support
It also offers a $100,000 Accuracy Guarantee. 3
HR Block TaxCutA robust feature set, but still affordableFull featured Attractive interface Backed up by retail bricks and mortar
outlets No free tier for basic returns Formerly known as Kiplinger’s TaxCut, HR Block TaxCut has been around for many years, and is a
full featured tax solution
With four tiers, it can handle just about any return
Unlike some other offerings, TaxCut has no free tier, and the simpler returns start with the Basic one which retails at $29.95
While it includes a Federal eFile, adding a State return adds a hefty $39.95, and for a State eFile it's an additional $19.95.Unless you
live in that few handful of states with no State income tax, such as Florida, most users are better served with the next tier up, Deluxe,
which for $54.95 is better value as it includes both the Federal and State return, although the State eFile still adds an additional $19.95
The standout feature of TaxCut is that there are approximately 12,000 HR outlets that are available to users of the program when some
in-person hand-holding is needed to get the job done - for an additional cost
Online chat, like its competitors, is included for no extra outlay. 4
TurboTaxThe venerable master of tax return softwareBeen around for decades Free Federal tier Stores tax documents in the cloud Adding
the State return is expensive Ask someone to name a program for tax prep, and chances are they will name TurboTax
That’s not by accident as this firm is an old pro in this area, having its origins in the mid-1980’s when TurboTax was first created by
the software company Chipsoft
The online offerings start with a free tier for Federal taxes, and the State adds a reasonable $29.95; this is fine for a 1040EZ or 1040A
return, but not a full 1040
The full 1040 requires a step up to the Deluxe tier, which goes for $59.99, and the State return adds $39.99 to the package
TurboTax includes the 'ItsDeductible' feature, which can assist in calculating the value of donated items
It can also store your documents online for safekeeping if they are needed later, such as for an audit. 5
FreeTaxUSAFree Federal tax software to bring a smile to a skinflintCan file all Federal taxes for free Adding the State tax is affordable
Returns guaranteed to be accurate Deluxe tier for higher priority support While death and taxes may be the inevitabilities of life,
getting your taxes done for free does sound like an attractive offer
Yes, the name does indicate the truth, and Federal taxes can indeed be done for free - for all returns including a full 1040, and even
more complicated tax situations such as an Earned Income Credit, or a K-1
Adding a State return tacks on an affordable $12.95 fee
Compared to the competition, FreeTaxUSA does indeed represent the bargain here
There is a higher Deluxe tier offered, which adds Audit Assist, Priority Support and can handle amended returns, but true to the cheapskate
origins, is only an additional $6.99. yhALebsdB7AVeQpizrCH37.jpg#
