With so many tax software programs on the market, many people are foregoing tax professionals and preparing their own taxes. On the other hand, choosing the software program that best fits your needs can be a daunting task. Do you need tax software made for a business or an individual? How much can you afford to spend on software? Spend some time comparison shopping, and you’ll be able to make an informed choice. Intuit TurboTax Premier is frequently rated the top tax software program for people who have complex returns. This software allows you to deal with complicated issues such as multiple stock sales, mortgage refinancing, rental expenses and income, and business deductions.
This tax software can prepare W-2 and 1099 forms for your employees, and it also helps those filing Schedule C. This program includes all of the federal tax software, and offers step-by-step instructions on how to download the software for your home state. You can also e-file with the government for free, using this program. The program walks you through each step of the process, so it is nearly impossible to skip a step or forget something, which is great for less experienced software users. TurboTax Premier runs about $60, but is well worth it if you have a complicated return. Intuit also makes a version called TurboTax Deluxe, which offers the same state and federal tax software, but is geared towards someone without capital gains, employees, or other business considerations.
If you don’t need those features, at about $35, this software is a better value. Both TurboTax programs are known for having thorough customer service, so if you’re new to using tax software, it might be worth your while to spring for one of these programs. If you have a very simple, straightforward return, you might try TaxAct Ultimate. Selling for about $20, this program still offers the state and federal tax software and the free e-filing that the pricier options give you. If you are confident that you won’t run into anything out of the ordinary during your tax preparation, this software will undoubtedly serve you well.