Which Online Service Should I Use To Do My Taxes? – Smarter Finance Journal

Which Online Service Should I Use To Do My Taxes?

taxes-compBetween a constantly growing stable of online wizards, brick-and-mortar consultancies and do-it-yourself materials, there are many options available for getting your taxes squared away before April’s deadline. But which method should you choose? Which route is most likely to get you an accurate, pain-free return without putting you at risk for fraud or identity theft?

The best service for filing taxes is going to vary from person to person. The reason for this is that each program, although very similar in nature, is attempting to target a specific demographic.

As an example, the best program to use for filing individual taxes may be very different from the best program for filing small business taxes. In addition, how much you are willing to spend will greatly influence both your experience and the amount of your return, so buyer beware. Equally noteworthy are the complexities of each program. Some are better suited toward those who have little experience filing their income taxes. On the other hand, more sophisticated software may be more practical if you have a background in accounting or finance.

Online programs like H&R Block, TurboTax and TaxACT continue to increase in popularity because they offer their customers an affordable yet convenient method to file taxes. However, in today’s fast -paced culture, who has time to decipher which one is best for your individual needs? This article will help streamline the process by reviewing these three types of software.

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H&R Block is a great program for novice filers, helping you maximize your return. However, the greatest feature of H&R Block is the company’s 12,000 retail locations across all 50 states. This is an absolutely essential feature for an online tax-filing program, especially considering the increasing prevalence of fraudulent activity surrounding these programs. Unlike TurboTax and TaxACT, which require a phone call to customer service, you can go into your local H&R Block store and avoid the automated telephone process.

TurboTax is also a great piece of software because it is most likely the easiest program to learn how to operate. They also do a great job of helping to maximize your refund. One of the great things about TurboTax is its longevity as the longest existing online tax filing program. Therefore, this service is time-tested, and has worked out many of the glitches others have yet to identify. Nevertheless, it’s not without problems; TurboTax has been in the headlines recently due to a spike in fraudulent returns.

Lastly, TaxACT is a relatively new software compared to H&R Block and TurboTax. Even Though it is a newer program, it still provides the basic functions one would expect from an online tax filing program. The greatest feature of TaxACT is its affordability. Prices for this program range from 5-15 dollars, making it much more affordable than the aforementioned programs.

As always, educate yourself weighing the advantages and disadvantages of each prior to making a decision.

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