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An Overview of Tax Software

This post was featured at Don't Mess With Taxes.

"In this world nothing is certain but death and taxes," said Benjamin Franklin. However, filing your taxes doesn't have to feel like death, or make you wish for it. Instead, the frugal and motivated filer can use tax software to do the hard work for them.

Tax software is specially designed to take the confusion and guess work out of filing your taxes. You still need to collect all those pesky forms and records, but the software helps you with the rest. They have a user friendly system of asking you a question, and then prompting you where to find the answer. You put in the information, and the software does the figuring and decision making about what to do next. Before you know it, your taxes are done! You then have the very doable task of either printing up the tax forms or even submitting them online for a faster return.

Many tax preparation programs have great features such as remembering your past tax returns, error checks, and more. Some even offer tax assistance on investments, retirement planning, and small businesses. There are several versions of tax software out there, and many of them are also available online. Here are some of the best:
  • Intuit TurboTax: This is one of the original and most popular programs. There are several versions available, depending on your tax needs. Cost is $20-$75. TurboTax can also be used online, with extra cost to e-file.

  • H&R Block TaxCut: A comprehensive program offered by the tax specialists. Cost is $20-$80. TaxCut can also be used online, with extra cost to e-file.

  • Free File through the IRS: While not technically a software program, Free File is a government program allowing individual taxpayers making less than $52,000 to file their federal taxes online for free. This is done through participating companies' online software programs. See their site for more information.

Want more information about different tax software? Check out the Online Tax Software Review at Top Ten Reviews, or Tax Preparation Software Reviews at ConsumerSearch.

Tax software is an easy method for filing your taxes, saving you time and money. For those with complicated taxes, a tax professional should always be consulted. However, the average filer will be greatly rewarded by using tax software.

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1 comment:

mathew said...

Thanks for your explanation.Yes,tax software is friendly. can be used by person.just got to fill the details into it.it does the work quick in time..

its good reading your blog.