FROM profitt-report:
One way or the other, you’ll have to file your taxes soon. You have a little more than two months until the deadline to figure out how you’ll do it. About 40 percent of electronic filers prepare their own returns according to Consumer Reports.
“Doing your taxes is so stressful and confusing already,” said Andrea Coombes, a tax specialist with Nerd Wallet, “add onto that the decision of which software to use, it’s an added level of stress.”
Nerd Wallet looked at online tax software and found their favorite three programs. They say the easiest to use is Turbo Tax.
“It’s a really nice, straight forward process. They ask you questions to guide you, those questions are in plain English for the most part,” Coombes said, “if you’re nervous around during your taxes, it's definitely a nice comfortable way to get the process done.”
Turbo Tax offers a “free edition” for simple returns, though their most popular is the “deluxe” edition for $40.
For a budget-friendly option, Nerd Wallet recommends Tax Act.
“Their basic package is $10, it's affordable, you’re not going to get the same kind of hand holding with Tax Act but you definitely will be able to file your taxes online,” Coombes said.
If you need more support, Nerd Wallet suggests you try H&R Block’s online options. They also have a simple, free option and a “deluxe” option for $30.
“H&R Block has that added benefit of brick and mortar offices nationwide so you could, if you really run into trouble, some kind of blockage on getting your taxes done, you can walk into an office and meet face to face with somebody so that might be a nice added peace of mind,” Coombes said.
You might qualify for free tax software through the IRS. Check out their Free File program, your adjusted gross income must be $66,000 or less.
“It’s a basic version of the software,” Coombes said, “what’s included will vary by provider, the state return may not be included go to IRS.gov and look at their Free File, you can actually compare the different offers the IRS is giving you there.”
This is our first year filing under the new tax law. Coombes said if you have any questions, head to a tax preparer. They should be able to help you strategize for not only this filing season, but the next.
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