This plan costs $24.95 to file your federal return early in the tax season, then around $40 to $45 as the filing deadline approaches, depending on timing. Known as BluPrint, this complimentary, automatically generated report uses your tax return (including deductions, investment earnings, and business activities) to recommend opportunities to save on taxes and make changes that may improve your financial situation in the future. TaxAct’s support staffers aren’t necessarily licensed accountants and may not be able to answer complicated tax questions, but they’re nevertheless authorized to handle general tax issues and provide basic advice and guidance for uncertain filers. TaxAct’s email and phone support system includes unlimited help with tax-related questions and technical platform issues. But it’s worth noting that clicking on individual results to get more detail takes you to TaxAct’s dedicated support system (and temporarily away from your return), making it less user-friendly than other tax software’s help features.
The panel’s search feature can help you find answers to quick questions. TaxAct’s filing system boasts a useful support panel on the right sidebar next to the fields you use to complete your return. At-a-Glance Help During the Filing Process.
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You can import W-2s from your employers, saving you the time necessary for manual entry. If you have a more complicated situation that includes investment income, itemized deductions, or self-employment tax, you need to upgrade. Importantly, it covers the earned income tax credit and child tax credits but not dependent care credits.
If you earn all or the vast majority of your income from regular employment and don’t need to itemize your deductions, this version is probably all you’ll need. The free version supports simple tax situations. But its functionality and features, such as prior-year return importing and phone support, are somewhat limited. This plan caters to individual filers with straightforward tax situations. TaxAct’s most basic plan is free for federal returns only. Once you’ve collected all your documents, the only thing left to do is decide which plan is right for you. Online tax prep and e-filing solutions for independent CPAsĮach plan’s pricing is subject to change and may increase as the filing deadline approaches, so it’s in your best interest to file as soon as you have all the necessary documentation.Distinct small-business tax products for various legal business structures, including sole proprietorships, partnerships, S-corporations, C-corporations, and tax-exempt organizations.Estates & Trusts, a pricier option for taxpayers with income from trusts or estates.Less common products for business owners and others with very complex tax situations include: TaxAct offers four main plans for individual and joint filers: Its support infrastructure also inspires less confidence than nervous filers might like.īut substantial improvements to usability make it a serious alternative to gold-plated DIY products and full-service CPAs. However, its free version isn’t suitable for any but the most straightforward of tax situations. TaxAct is significantly cheaper than its two big-name competitors. It’s frustrating but understandable that business owners and independent workers have to pay more to file their taxes with brand-name services like TurboTax or H&R Block. Their tax situations are significantly more complicated than wage-earners with one or two jobs, especially if they’ve formally incorporated businesses to take advantage of valuable tax breaks and legal protections. Millions of Americans rely on multiple streams of income: independent contractors, small-business owners, solopreneurs, freelance workers, hustlers stringing together side gigs, and folks who earn passive income through investing.
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