Many people find it difficult to calculate taxes on their own, this is important because if someone does not pay taxes intentionally or not then that person has to face thousands of dollars in penalties or even imprisonment.
However, taxable income is calculated by calculating the total household income which is then subtracted by other costs, eg contributions to a 401(k), etc. For this reason, it is not uncommon for you to need an expert in order to maximize your tax deductions so you can save as much money as possible. In addition, experts like this will also guide you on how to do tax planning, such as marital status, number of dependents, or many other factors that can affect the net amount of tax you have to pay.
But luckily you no longer need to pay an expert just to do the job, because there are several tax preparation software out there that you can use, even software like this one can also be used for your own taxes or your clients. Tax softwares will help you in calculating taxes accurately and can save you a lot of time.
In this article, we will discuss some of the best tax softwares with the top features offered by each of the available softwares. We will also present detailed comparisons and reviews to make it easier for you to decide which tax software could be a good choice for you.
Best Tax Software
TurboTax is one of the best reliable tax software for tax makers. With some really fun features for tax filing, this software will also help you after filing your taxes, meaning you can more easily track your refund and e-file status or make any changes to your tax return, among many other things you can do.
Even so, some people feel that TurboTax is a tax preparation software that is quite expensive, although it must be admitted that the features offered by this tax software deserve to be called the best. Interestingly, it is not only used to calculate taxes, you can also track profits and losses in cryptocurrency exchanges.
Drake Tax is a professional tax software that offers many features for filing taxes yourself, including with professionals who can also use it to calculate and file taxes on behalf of their clients.
The main advantage of Drake Tax is the price, as you can file unlimited taxes with the Unlimited Power Plan. In addition, customer service on this tax software is also known to be very good. The only drawback of DrakeTax may be that it is not very suitable for beginners, especially if you have no prior knowledge of tax filing.
The next tax software is TaxSlayer Pro, this is a cloud-based software specially made for preparing taxes. TaxSlayer Pro offers several useful educational resources, being a useful mobile app and unlimited tax filing.
Many TaxSlayer Pro users say that the software is very easy to use and its pricing structure is relatively lower than the alternatives. To be sure, TaxSlayer Pro can be a huge boon for individual tax preparers, especially for those of you who want to file taxes for multiple clients.
Intuit ProSeries Pro
Intuit ProSeries Professional is the next best tax return software that offers advanced features to make filing taxes easier and faster. This tax software also offers educational resources that will help its users in learning about the software or tax files.
Intuit ProSeries Professional is also known as tax preparation software which is very easy to use, and certainly has a relatively low price.
H&R Block is the next best free tax software alternative that allows you to file federal and state taxes for only $0. Even so, paid plans are also available by offering various features such as online help for filing taxes, reporting stocks, bonds, and other investment income.
After all, H&R Block is a free tax software that can really help a lot of people. Uniquely, the free version of this software is even reported to be better than the free options offered by other tax software. Even so, there is a high price for the paid plans of this software.
ATX Tax is the product of a very reliable and popular brand, namely Wolters Kluwer. It is a tax return software that allows users to find errors in e-filing, provide in-line assistance, and much more.
The software is also very easy to use, reasonably priced, and very reliable. With all these advantages, it is not surprising that ATX Tax is highly recommended for small companies and CPAs.
As a pioneer, TaxAct Professional is a tax preparation software that has been in the industry for over 20 years. This powerful software offers a free trial that allows you to take a test drive before you actually pay for it.
After all, TaxAct Professional is a powerful yet very affordable tax filing software, because you only have to pay for what you need. Unfortunately, this software lacks some features like other software, such as tracking the status of your returns.
Credit Karma Tax
Credit Karma Tax is the next best free tax software that allows you to file state and federal taxes at no cost. This software can also be a great option for small taxpayers without requiring expert help in filing their taxes.
One of the biggest plus points of Credit Karma Tax is its $0 fee and user friendly interface. Even so, there are some features that you won’t find in this software, such as access to expert help for filing taxes, and the customer service is not that great. But for sure, this software can be used for free.
Founded in 2001 in the United States, FreeTaxUSA is a popular and easy-to-use tax preparation software that offers free federal tax filing. This is the recommended software for anyone looking to save money. But unfortunately, FreeTaxUsa is not equipped with several features that can save you a lot of time, such as uploading document images and getting expert help.
Free File Alliance
For those of you who like freebies, the Free File Alliance could be the right choice for you. It is a free tax software that has been around since 2003 and has served more than 100 million taxpayers in the United States.
The software is also partnered with the IRS which allows you to file taxes at no cost. The main plus point of this software is the reliability and free tax filing that it offers to its users.