Tax Preparation Software: The Best Tools for Doing Your Own Taxes
Tax preparation software is useful for those who prefer to do their state and federal taxes themselves, rather than pay a Certified Public Accountant (CPA) or other tax preparation service provider to do the work. Tax preparation software packages can help you save valuable time and money preparing your personal and business tax returns, and also help with managing other aspects of your financial life. Currently, TurboTax and H&R Block have the most popular tax filing programs, so if you’re ready to buy, we recommend sticking with one or the other.
How Tax Preparation Software Programs Work
Many of the top software packages will walk you through the process of preparing your returns by asking a series of questions (using a series of wizards). The filing programs will explain where to find the information and will cover various scenarios to help you understand your particular situation. In addition, the tax tools will allow you to print the necessary tax forms so you can mail your return to the Internal Revenue Service (IRS). Alternatively, you can file both your state and federal tax return electronically using the software tool.
Many of the best tax software packages will review and check your state and federal return for errors before you submit. This helps ensure that you will get the maximum refund in the shortest amount of time, with the peace of mind that you’ve submitted your return legally and correctly. Many of the preparation services offer the option to chat with real tax experts and accountants if you have questions about your return. Some offer the option to join and participate in an online community to network with others and learn from various financial discussion topics. You can post a question or answer questions submitted by others.
In addition to helping you do your annual taxes, many of these programs help you organize and manage your finances year-round. They will help you organize your bank accounts, credit cards, retirement accounts, loans and more. In addition, these programs will help you track and categorize your expenses to help create a monthly budget.
Private detectives can leverage these tax programs to complete and file their personal and business tax returns. In addition, detectives who specialize in forensic accounting and financial investigations will benefit from having a working knowledge of these programs, as they may need to dig into such programs during a case.
Where to Buy the Software
If you’re ready to get started, checkout the best-selling solutions available through Amazon.com.