How to Get the Most Out of Tax Filing Software Without Spending the Most
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Taxes are confusing and can often be a frustrating (and soul-sucking) process, especially when it comes to filing your 2020 taxes in a pandemic year. The good news is that there are plenty of tax-preparation software companies that can help offload the stress and make filing your tax returns less convoluted. If you want to save money and time, consider filing your own taxes using an easy tax filing software that can walk you through the process.
As savings experts that are always on the hunt for the best deals, we have a few tips up our sleeves that we’ve shared throughout this article. When filing for taxes, keep your eyes peeled for savings and deals from some of our tax prep software partners before the deadline approaches. If you usually do your taxes last-minute, no worries. There are plenty of companies that offer last-minute discounts and other incentives for their tax filing services. Below is a compiled list of our recommended partners that provide seamless tax prep services.
Overall, TurboTax is the best tax software choice for many customers. TurboTax simplifies filing your own taxes by guiding you through questions and live chat support. You can import tax documents like your W-2 or 1099-NE simply by taking a photo of the document straight from your phone. This information is conveniently saved and inputted into their program instead of manually entering additional information. Additionally, TurboTax has implemented special technology that proofs and double-checks your information to make sure your filing is accurate.
You can file a simple tax return, receive unlimited tax advice, and get a final expert review via the TurboTax Live Basic here. This program is ideal for W-2 income and dependents.
If you’re too busy and don’t have time to search for tax prep firms or a CPA, TurboTax offers a new live full service. A tax expert can help handle and file your taxes for you through TurboTax Live Full Service. You’ll be matched with a tax expert and connect through a one-way video call so they can learn more about your tax situation. After you’ve connected with them, they’ll handle the rest of the process from there. It’s that simple.
Running a business or need to keep track of your self-employment expenses? Bookkeeping is an essential tool to stay organized and ready for tax season and year-round. Luckily, QuickBooks makes it easy to stay organized with finances, managing bills, tracking inventory, invoicing, and other necessities. Right now, you can try QuickBooks for free for 30 days. If you buy a QuickBooks plan, you’ll get 50% off for 3 months. The most popular plan for many customers is QuickBooks’ Plus plan, originally priced at $75, now on sale for $35.
Looking for a “break" from all that tax prep you’ve done? TaxAct claims that you can “file for up to 50% less than TurboTax" and get tax advice from CPAs and other experts. For context, over 80 million returns have been e-filed through TaxAct since 2000, according to TaxAct. With TaxAct, they provide a guarantee to help you earn your maximum tax refund. Plus, instead of manually inputting everything, TaxAct provides easy import features so you can upload a PDF of your previous tax return and more.
For fast, easy, and efficient filing, E-File let’s you e-file your taxes online and start for free. If your taxes are not generally difficult and you want to skip traditional filing methods, consider E-File. According to E-File, they offer “full featured online tax software at a significant discount to other programs." Typically, most customers prefer E-File for the convenience of being able to electronically file their taxes in less than 15 minutes.
According to E-File, some competitors will charge over $100 for tax preparation software. Through E-File, they’ll charge up to 50% less for filing depending on the plan you choose.
There are plenty of great options for filing your taxes. When in doubt, always consult with tax and accounting firms or experts that can help you decide what’s right for your unique tax situation.