Tax Tips And Tools For The 2016 - 2017 Tax Season

 
 
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Cheap Tax Software Options For Online Income Tax Preparation

How did tax season go for you last time around? Did things go smoothly or was it kind of stressful? Did you do the filing yourself or did you pay someone else for your tax return preparation? Are you looking for a better way to file tax returns this year that does not cost a fortune?

Inexpensive Options For Tax Preparation

If you've never done an electronic tax return, perhaps this is the year to give it a try. Cheap tax software options exist that make tax filing so much quicker and easier than the old paper and pencil method. You will never go back once you've prepared and filed your tax return online for the first time.

Online income tax software is an inexpensive option starting with FREE EDITIONS that walk you through the online tax filing process asking you questions and making it easy to get every tax deduction you're entitled to take. There's no worrying about knowing all the changes in the tax codes because the updates are already in the software program. It's so much easier when the changes are built into the tax prep software every year. It takes all the worry out of doing it right!

Preparing your tax return online will save you both time and money. Not to mention stress! You get to pick when you want to file your taxes, no waiting for someone else to get the paperwork done on their schedule. And you get to keep the money you would normally pay for income tax return preparation. Why not save that money and file yourself?

Using online income tax software to file your return yourself means you'll get your refund back faster than any other method. You can even have it deposited directly into your bank account with direct deposit, no waiting. There is no searching out tax return forms because everything is included in the tax software. Your federal tax return can be prepared and filed for free in some cases and your state tax return can be filed for a nominal fee. You'll wonder why you never did your taxes this way before.

How to Choose Cheap (FREE) Online Tax Software

To determine the best tax software for the right price, you'll need to assess your circumstances to pick the appropriate level of software. That just means looking at the details. Do you rent? Do you have few, if any, deductions? Then you can file a Free version. Do you have children? Do you own your own home? Do you have itemized deductions? Then you'll be able to file a Basic version. Do you have sales gains or losses from stocks or bonds? Do you have investments or retirement income? Are you self-employed? Do you have rental income? A Deluxe or Premium level program offers the right criteria to meet those needs.

This page has several different links for tax software programs. Once you've decided which level of software you need, it's just a matter of reading through what each program offers to make your choice. Here's some software details.

  • TurboTax - offers their Free Edition for common 1040ez tax filing, The TurboTax Basic Edition for simple returns and step-by-step guidance; the TurboTax Deluxe edition for those who own homes, make donations or have lots of deductions; the TurboTax Premier edition for taxpayers who own stocks, bonds, mutual funds or rental properties; the TurboTax Home + Business edition if you're a sole proprietor, consultant/freelancer or single owner LLC, and want to file both your personal and business returns, the TurboTax Business edition for those who have a partnership, corporation or multi-member LLC.
  • H&R Block - offers a Free program for simple tax needs and step-by-step guidance: their Basic program imports your W-2, 1099, and last year's return; the H&R Block Deluxe program includes expert tax guidance for homeowners and investors; the H&R Block Premium program is for the self-employed or rental property owner, with schedule C guidance and live tax help.
  • TaxAct - Free Federal: Start Free, Prepare, print & e-file simple & complex returns free! Get your maximum refund guaranteed. 100% accuracy guaranteed. Free tax help & audit support. TaxAct Deluxe Federal is best for returning users. Import prior year TaxACT data, maximize your deduction for donations, use calculators & reports, get free tax help & audit support. Bonus free phone support! TaxAct Ultimate Bundle: - Save! on Deluxe + State. Best tax preparation software value - includes free e-filing. Finish your State taxes online in minutes, get Free tax help & audit support.
  • eSmart Tax - Basic Edition is for individuals looking for free federal tax filing with simple returns. The Deluxe Edition by eSmart Tax offers families, homeowners, and those who need to itemize deductions all the tools you need to accurately prepare their tax return. The comprehensive Premium Edition gives you the extra support and expert advice you need to navagate the ins and outs of every tax situation possible.

It's time to check out the programs listed on this page and find the tax software that works for you! What are you waiting for? In 2012, more than 119 million tax returns were prepared and efiled electronically. For 2013, the IRS has reported that more than 122 million returns were filed online. The numbers are growing!

Cheap Do-It-Yourself Tax Software

The number of United States taxpayers who prepare and efile their tax returns using a home computers has continued to grow by leaps and bounds. In 2013 over 36% of taxpayers prepared and efiled their federal tax returns themselves.  As of December, 2013, there were over 45 million self prepared tax returns that had been efiled.

Analysis by the Internal Revenue Service indicates the error rate for individual tax returns has been cut drastically by the use of tax software. Because the main mistakes taxpayers make involve math calculation, the use of tax preparation software decreases the chance for these mistakes. In fact, tax software vendors devote most of the year preparing their products and staff members to identify and prevent the most common errors found when tax returns are filed.
 
Tax filers who prepare their own returns without the use of software are not always aware that they could qualify for many more deductions. Top Tax software programs like those from TurboTax help users discover and take these deductions.



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