4/30/2023 0 Comments Turbotax softwareTurboTax now also offers the option to have a tax expert do your taxes for you. As I’ve said in previous years, Intuit has somehow found a way to make you feel more comfortable about doing your taxes.Īs with every application we’ve looked at this year, TurboTax offers the option to consult with a tax professional, but if you file your taxes by March 27, and you qualify for free tax filing, you can have access to a tax professional for free. Probably the first software you ever used to file your taxes and likely what you’re still using today, for good reason. TurboTax is, for sure, the biggest name in do-it-yourself tax filing software. So, hat tip to H&R Block’s new design team. Easy to read, well laid out, simple and logical progressions, all contribute to make this a great new change to what was once an excellent product but not all that fun to look at or work with. Notably, H&R Block’s redesign is a significant improvement over their previous version. Otherwise, you’ll proceed systematically entering your personal and financial information for convenient processing. If you’ve filed taxes with H&R Block previously, you’ll be able to import and confirm the correctness of that information. Again, I recommend you skip that and get on with the business of filing your taxes, unless you see something that interests you. Like TaxAct, H&R Block wants you to sign a waiver allowing one of Block’s related companies to look at your financial info so they can sell you stuff. Also note that, if you were self-employed in 2020 and want to report business deductions or claim your small business’ expenses, you’ll be using the $85 package. All the other tiers require you to pay to file state taxes. Block’s two least expensive options, Free and Plus, also offer free state tax filing. H&R Block offers five separate options for filing your taxes, from a free version to a self-employed version that costs $85. H&R Block’s answers to these questions are excellent, but bear in mind that, if your income was complicated by or nonexistent because of COVID-19, it’s likely in your best interest to consult someone who knows every nook and cranny of the latest tax law, whether that’s one of H&R Block’s tax professionals or someone local to you who may also be familiar with your state tax laws. H&R Block starts the process with a brief Q&A about COVID-19 and how that might affect your 2020 tax filing. Once you’ve chosen your filing option the path forward is pretty basic: Enter your information in a step-by-step manner. Note that, at any point in time, you can choose to use a tax professional, even if you started doing your taxes on your own. As always, because H&R Block has brick and mortar locations, you have the option of working with a professional virtually or you can choose to be with them in person at your local Block location. In this year’s version of the online app, the first question you’ll be asked is if you want to file your taxes on your own or if you want to use a tax professional. First-time TaxAct users need to go through the process of adding personal information before they can begin a return.Īs noted earlier, H&R Block has long provided the option to work with a tax professional while filing your taxes. If you’ve used TaxAct in the past it will import your prior year’s tax return into your new return and then ask you to confirm that your personal information is still correct. TaxAct joins the competition in offering live assistance as an option of its online service. No matter what, if you’re in a state that requires you to file taxes, you’ll need to spend an additional $20 to file your state return. Additionally, TaxAct now offers a feature called TaxAct Xpert Help, which you can use to consult a tax professional for an extra $35 per return. TaxAct offers four tiers for personal taxes, from a free filing option, which costs nothing for qualified filers, to a self-employed option that costs $65. TaxAct’s initial interview begins at the sales screen where you pick the package you need to file your taxes. It is the only online tax filing program that allows you to file corporate taxes and it can also import information from your K1 directly into your personal income tax filing. TaxAct is inexpensive, easy to use, and is the product I’ve used for both my business and personal taxes for the last several years. Note that all the prices listed for each of these products was the price at the time this article was written and every company charges more the closer you get to April 15.
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