It's that time of year again... The time when gray hairs turn a couple shades grayer and occasionally multiply, wrinkles gain a bit more definition, and the corners of our mouths droop a few extra millimeters, along with our overall countenance. Tax time.
Filing taxes is never fun, but it can be less stressful if you enlist the right support, whether a tax professional or tax software. Here's what you need to know about income tax software.
- What is income tax? The federal government collects income tax on an individual's earnings, which begs the second question: what are earnings? The answer is not always clear; depending on where you live, you may be expected to pay tax on earnings as varied as stock sales, gambling, and bank interest. That's right—income tax varies from state to state. On top of that, if you're not a full-time employee, you probably haven't experienced the pay-as-you-go income tax taken out of your paychecks. Luckily, tax software programs can conveniently and reliably guide you through your personal income tax questions, helping ensure that you don't get audited for them.
- TurboTax. Choose from several tax-filing packages, ranging in price from about $75 to free (free only for the most simple return). Your choice of package will depend on your priorities—getting the most deductions (personal or business), managing your investments, or all of the above. State tax help is additional for each package, but if you aren't familiar with your state's income tax requirements, you should spring for it to ensure that you pay your full income taxes.
- TaxCut. H&R Block's tax software offering is a gem. Like TurboTax, you can either file your taxes online on your own or do it with the help of live staff for an extra fee. Prices range from around $10 to about $80, but for income tax purposes, it's best to go with at least the $40 TaxCut Premium + State package.
- TaxACT. Low price is one of the main selling points of the TaxACT software options; prices range from absolutely nothing (to e-file a very simple return) to roughly $15. Once again, you will pay an additional fee to add state tax assistance to any of the packages, but for those of us with a feeble grasp of state income tax, it's worth every penny.
- Free File Home. The IRS offers a free service through its website—nice of them, isn't it?! It's not their software you'll be using, however; rather, it's the software of one of a large group of tax software companies. There's one catch: your adjusted gross income has to be no more than $52,000. You might be slapped with some minor state tax fees as well (I suppose that makes two catches).
- Amazon.com. You can compare tax software programs and even save some money on them! If the user comments are full of complaints, you can evaluate them to see whether you might share those complaints after using the program. You won't find this kind of user feedback posted on the tax software websites themselves, so it pays to visit Amazon.
There are numerous tax software programs that can help you file your income tax this year. Don't hesitate to research and learn more about the fine tax software mentioned above or other worthwhile programs. Good luck!
Find income tax software
Find income tax software : Multi-thousand tips to make your life easier.
It's that time of year again... The time when gray hairs turn a couple shades grayer and occasionally multiply, wrinkles gain a bit more definition, and the corners of our mouths droop a few extra millimeters, along with our overall countenance. Tax time.
Filing taxes is never fun, but it can be less stressful if you enlist the right support, whether a tax professional or tax software. Here's what you need to know about income tax software.
- What is income tax? The federal government collects income tax on an individual's earnings, which begs the second question: what are earnings? The answer is not always clear; depending on where you live, you may be expected to pay tax on earnings as varied as stock sales, gambling, and bank interest. That's right—income tax varies from state to state. On top of that, if you're not a full-time employee, you probably haven't experienced the pay-as-you-go income tax taken out of your paychecks. Luckily, tax software programs can conveniently and reliably guide you through your personal income tax questions, helping ensure that you don't get audited for them.
- TurboTax. Choose from several tax-filing packages, ranging in price from about $75 to free (free only for the most simple return). Your choice of package will depend on your priorities—getting the most deductions (personal or business), managing your investments, or all of the above. State tax help is additional for each package, but if you aren't familiar with your state's income tax requirements, you should spring for it to ensure that you pay your full income taxes.
- TaxCut. H&R Block's tax software offering is a gem. Like TurboTax, you can either file your taxes online on your own or do it with the help of live staff for an extra fee. Prices range from around $10 to about $80, but for income tax purposes, it's best to go with at least the $40 TaxCut Premium + State package.
- TaxACT. Low price is one of the main selling points of the TaxACT software options; prices range from absolutely nothing (to e-file a very simple return) to roughly $15. Once again, you will pay an additional fee to add state tax assistance to any of the packages, but for those of us with a feeble grasp of state income tax, it's worth every penny.
- Free File Home. The IRS offers a free service through its website—nice of them, isn't it?! It's not their software you'll be using, however; rather, it's the software of one of a large group of tax software companies. There's one catch: your adjusted gross income has to be no more than $52,000. You might be slapped with some minor state tax fees as well (I suppose that makes two catches).
- Amazon.com. You can compare tax software programs and even save some money on them! If the user comments are full of complaints, you can evaluate them to see whether you might share those complaints after using the program. You won't find this kind of user feedback posted on the tax software websites themselves, so it pays to visit Amazon.
There are numerous tax software programs that can help you file your income tax this year. Don't hesitate to research and learn more about the fine tax software mentioned above or other worthwhile programs. Good luck!