With all of the ads I've been seeing about tax software, I've become confused because I don't know which one I should use. Where should I file my taxes? Is it better to do them online, through some type of software, or in person?
H&R Block at Home Premium Software is an excellent tool for the small business owner's tax preparation needs. It offers specialized Schedule C guidance and rental income assistance. It is also covered by H&R Block's guarantees for the Maximum Refund and Accurate Calculations. If you find you need additional assistance, the Premium software offers help through the Ask a Tax Advisor feature or you can always count on assistance from H&R Block's Get-It-Right public forum at getitright.hrblock.com.
Business owners and independent contractors have to submit a "Schedule C" form. TaxAct, H&R Block Online and TurboTax Onlineonly include Schedule C support with their highest service level. Those levels are as follows: TaxAct: Premium: $30 (description: "Perfect for self-employed, contractors and freelancers") Xero bookkeeping users can import their info directly into TaxAct. H&R Block Online: Premium: $38.49 (description "Best for investors or small business owners") TurboTax: Self-Employed: $89.99 (description: "Personal and business income and expenses") One thing to note- if you are using QuickBooks Online, there is apparently no way to import data directly from QBO to TurboTax, even though the products are owned by the same company. TurboTax is owned by Intuit (which also owns QuickBooks, Quicken, Mint and a slew of other finance software products). H&R Block Online is part of H&R Block, which has tax filing retail offices all over the country. TaxAct is now owned by Blucora, which also owns HD Vest financial services.
Tax Software is a great help to file the tax returns, but the choice varies according to your needs or business requirement. The three tax software you mentioned, TurboTax, H&R Block, and TaxAct, own the tax return industry. TurboTax: Top choice for the seasoned business owners and as it offers several reporting options, accurate calculations, and automatic W2 importing. H&R Block: Great option for small business owners as it delivers a variety of features at a moderate price. TaxAct: Great tax returns software for those who know how to do their own tax return. Filing tax return online for an individual, tax software is a great option, and in terms of cost, TaxAct is the most affordable tax software.
