Tax returns are never fun to file but using good tax software can make the process go a lot more smoothly and be less painful. Whether you’re filing state or federal taxes, or tracking rental properties and investments, it’s vital that you have the right accounting tool for your situation. That way, you can easily file your tax return safely with the knowledge that it’s correct and accurate, all without the need for a tax professional’s services. Simply put, taxes don’t need to be taxing, even if you need to keep on top of both state taxes and your federal return.
While you can use a face-to-face company like Liberty Tax, using software like TurboTax and H&R Block offer some of the best tax solutions out there at super-low prices. They make it pretty straightforward to file all your tax forms from your state return, to federal returns, and any business tax you might need to deal with. It all depends on the software package you pick.
The best part? It saves you needing to visit a brick-and-mortar office to have a face-to-face interview with your tax professional.
With tax season slowly creeping up on us all, retailers like Amazon and Walmart have been slashing their prices on tax products, so it’s the perfect time to find the right software for you. Here are the best tax software deals to save you money filing your return.
Best Basic Software:— $15
Don’t want to pay too much for your tax returns software and only have simple needs? Then H&R Block Basic 2019 is the tool for you. It’s super cheap at $15 and ideal if you just need to complete simple returns while still being easy-to-use. It’s aimed at those users looking to file their federal taxes while trying to get the maximum refund possible. It provides step-by-step guides on credits and deductions, along with a near-encyclopaedia level of knowledge thanks to its 13,000-plus articles that you can search through. It offers five free federal e-files along with unlimited federal preparation and printing, and itemized deductions with Schedule A. It also has an easy import tool for your W-2, 1099, 1098, and your last personal tax return.
In the unlikely case you’re audited, there’s audit support with H&R Block offering in-person representation but that should barely ever happen because it also has an accuracy review that checks for any issues and determines your audit risk. Follow the step-by-step layout and you should never need to worry about a full review of your finances.
Best for Home Owners:— $30 ($15 off)
For homeowners keen to maximize their mortgage interest, as well as fully ensure real estate tax deductions work for them, there’s H&R Block Deluxe. It’s currently available atfor $35 with an exclusive 4% refund bonus offer with money coming back on an Amazon gift card.
There are plenty of advantages with this tax software. Besides all the features of the basic package including drag-and-drop functionality from other tax providers and that all-important accuracy review, it will also provide you with assistance on income from investments, stock options, home sales, and your retirement. There’s further advice aimed at mortgage interest, real estate tax deductions, and even charitable contributions, as well as more standard itemized deductions. It might cost more than the basic package but it’s worth the extra cash as it should save you plenty of money, providing you’re a homeowner or investor.
Best for Multiple Deductions:— $50 ($10 off)
While something like H&R Block Deluxe is great for some deductions, TurboTax Deluxe is even better if you have multiple deductions to think about. Currently cheapest atat $50, if your financial life is more complicated than most, it’ll easily save you that much and more in your first tax return.
It covers typical deductions like donations and mortgage interest, but it also includes educational expenses and medical figures. In all, it takes into account more than 350 different deductions and credits so that it figures out the biggest refund for you, all in a personalized manner designed for your situation. To further reassure you, it has an Audit Risk Meter, too, so you can reduce your chances of an audit further down the line. A neat tool for valuing your donated items is also included, which is sure to encourage you to be more charitable. It does this all through an interview-style interface that offers questions-and-answers for everything imaginable, kind of like if you were at a brick-and-mortar establishment discussing your finances.
Impressively, TurboTax promises that its calculations are 100% accurate so you won’t have to worry about an IRS or state penalty thanks to its extensive double-checks along the way. The company is confident that if there is an error, it’ll pay you back, plus interest.
Buy it from Amazon and you get a free version of Quicken Starter Edition with a one-year subscription thrown in.
Best for Small Businesses:— $80 ($20 off)
TurboTax Home & Business is one of the more pricey business tax software packages at $80 but if you need a solution that works for freelancers, contractors, sole proprietors, as well as small businesses and all other forms of self-employment, you can’t beat it for versatility. It’s the ideal solution for all your tax-related needs.
The software is just as simple to use if you have a side hustle and need to finish a simple tax return, as it is if you’re dealing with W-2 and 1099 MISC forms for your employees or other contractors. A well laid out interview-style process ensures the accounting software is set up with your business in mind, so it feels like if you were talking to a tax professional who gets your situation. Each step of the way goes through a series of double-checks too so there’s no risk of you making a mistake. Like other TurboTax software packages, more than 350 tax deductions and credits are checked as you go along so your maximum refund is determined.
It includes information on which expenses you can deduct for as a self-employed worker, such as utilities or your home office. It’ll also determine if actual expenses or the standard mileage rate will get you the biggest tax deduction, plus guide you through all other expense categories. The software also effectively grows alongside your business’s growth, ensuring this is a small price to pay for a long-term solution.
It’s currently at its cheapest at Amazon for $80.
Best for Investments and Rental Property:— $70 ($20 off)
If you own stocks, shares, bonds, mutual funds, or rental properties, it’s important to have a tax software package that supports such interests. TurboTax Premier is the best of the bunch and Amazon has just reduced it from $90 to $70. Besides offering everything that most other TurboTax software caters for, such as being able to track more than 350 deductions and credits, and deal with the basics, it does so much more that’s perfect for investors.
It offers retirement tax help along with an IRA tool that shows you how to get more money back for when you retire. Every year, it works on maximizing your IRA savings along with determining your tax health to work on improving things for the next year. It can also automatically determine your correct basis for shares purchased if you sold employee stock at any point.
For new renters, there are also step-by-step guides on how to set up rental properties while still determining the fair market rent value. If you have special requirements and tax situations such as these, TurboTax Premier is the tax-related package to go for, especially while it’s priced well at Amazon. It makes tax-prep a relative breeze.
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