Woo-hoo, you survived tax season! But you’re not out of the woods just yet. Scammers are still on the prowl even after the tax season has finished, so you need to stay vigilant. Since post-tax season is when most people are expecting to hear from the IRS, scammers know that it’s a great opportunity to take your hard-earned money. These criminals will impersonate the IRS or even charitable organizations to get what they want. Fortunately, if you know what to expect and use the right software, you can easily avoid the most common post-tax season scams. Read More…
Tax Software Articles
What the Coronavirus Relief Bill Means for Your Taxes
Since the beginning of the coronavirus pandemic there have been a lot of bills passed to reduce the financial burden on Americans. Beginning with the CARES Act back in March 2020, the government has needed to support its citizens as the pandemic has continued. The most recent bill was the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, signed into law in December 2020. The Coronavirus Relief Bill (as it’s also known) has extended support for individuals, families, and small businesses. But what does the new bill mean for you and your taxes? Read More…
How the Pandemic Will Affect the Tax Season
A lot changed in 2020, and for many of us, it was a year to forget. However, there’s still one last thing that needs sweeping under the rug before we move on: our tax returns. Tax season begins February 21, and this year the process will be very different for anyone affected by the pandemic. We’ve all faced difficulties throughout the past year, and many of us have faced a big change of circumstance – whether it’s through becoming furloughed, unemployed, or having to dip into our retirement fund. All of these will have an impact on our tax returns. But we also need to consider what effect stimulus checks have, even if you haven’t received yours yet. It’s the same for businesses who have had the CARES Act and PPP to help out.
You don’t have to do your tax return alone, though. From hiring an accountant to using tax software, there’s an easier way to tackle this extraordinary tax season. Read More…
How to Start a Tax Preparation Business
Despite getting easier all the time thanks to tax preparation software, there are still many people – mostly those who aren’t confident dealing with taxes or have more complex tax situations – that turn to tax preparation professionals to do their taxes. For this reason and because our tax system won’t be getting any simpler in the near future, tax preparation is a thriving business.
Not surprisingly, more and more people are deciding to help others complete their taxes with each passing year – only to fail miserably because they have no idea how things work in the tax prep market. However, if you’re savvy enough to follow just a few steps, then you’ll soon find yourself full of clients eager to get their taxes prepared with the help of your business. Read More…
TaxSlayer vs TaxAct Comparison
Preparing tax returns is the bane of every U.S. citizen’s existence, so it’s not surprising that more and more people are turning to tax prep solutions. These services certainly can help you deal with taxes in no time, but nowadays this just isn’t enough. In fact, it’s actually the little features and extras with which companies try to convince newcomers that are the most important things to consider. This is exactly what these two services, TaxSlayer – one of the oldest tax companies around – and TaxAct manage to do. However, whereas the former focuses more on a traditional approach with smaller extras, the latter tries to impress its clientele with convenience. Read More…
The Best Tax Software According to Reddit
Since tax laws won’t get any easier any time soon, with each passing year more people decide to do their taxes on their own with the help of tax prep software. And seeing how the overall quality of such solutions – especially their online equivalents – is getting better and better, it’s not a surprise that such tools are getting to be so popular. The only problem is that due to the growing popularity of DIY tax preparation, the market is full of great tax programs and as such choosing a fitting tool isn’t as easy as it seems. This is why it’s best to listen to the voice of the masses and discover what other tax software users have to say about the best tax prep solutions, and what better way to do this than with Reddit? Read More…
TaxSlayer vs TurboTax Comparison
Experience or convenience: these are just two of the many features that taxpayers are looking for when they are about to select a tax prep solution to deal with their taxes. And these are the exact things TaxSlayer and TurboTax provide to anyone who decides to join their forces. Thankfully, though, these attributes aren’t the only things that TaxSlayer and TurboTax come with, as both of them have a plethora of fantastic features with which creating returns is a breeze. So, now there is only one question left: which tax prep service provider has the better set of features? Read More…
What Forms Are Needed to File Tax Returns?
Let’s face it, preparing tax returns is hardly a hassle-free task, regardless of whether taxpayers choose to turn to accountants or do their taxes with the help of a tax prep program. The problem isn’t with the returns themselves but rather the forms needed for their completion, there are so many of them covering a range of different tax situations that even the most tax-savvy people will still have to stop and think for a second about which forms they need to prepare accurate returns and avoid a tax audit. However, collecting the necessary forms isn’t an impossible task, in fact it’s as easy as following a dedicated checklist and you’ll have the required documents in no time. Read More…
Liberty Tax vs FreeTaxUSA Comparison
When it’s tax season, there are three major rules that taxpayers follow: tax returns should be done accurately, cheaply, and as fast as possible – which are exactly what Liberty Tax has to offer through its pay-only tax software. But the program’s convenient nature isn’t enough nowadays as the market is full of similar solutions, some of which are certainly worthy rivals. So, there is one question left: how does Liberty Tax compare to FreeTaxUSA, which not only provides an outstanding tax prep program but is also available entirely free of charge? Read More…
How Is Data Secured in Online Tax Software?
For many taxpayers, online tax software offers them nothing but convenience. But, sadly, the truth is that they can also be the source of major headaches: online tax programs are ideal targets for wrongdoers since they handle highly sensitive financial and personal information over the internet. Simply put, applying certain safety measures to secure these details is a must but, thankfully, tax programs are well-prepared for all sorts of attack against their clientele. All this protection is worth nothing without the taxpayers themselves, however and, in fact, it’s them who can do the most to protect their tax data. Read More…