Online Tax Firms
Online Tax Firm Organizations allow you to prepare your tax return online yourself and save money at the same time.
Online tax preparation is the fastest growing sector for tax filing. Over the last decade these online tax firms that offer software programs for individuals to save money by preparing their taxes themselves have been leading the way as more filers are opting to complete their own tax return preparation every year.
With the economy in a rut and high unemployment rates, more tax filers are making the choice of preparing their own returns with online tax preparation software. The rewards are worth the effort to get back in the mood of managing your own finances in order to be better prepared for tax season.
The reality of preparing your own return is that it has become very easy to perform this task with top rated tax software programs that walk you step-by-step through the whole process.
With filing your own return comes the big reward of no professional tax preparation fee to pay. It's also a great way to educate yourself on deductions and other write-offs you could, and should be setting yourself up to qualify for each year. That means more money in your pocket, not in Uncle Sam's! Bet you like that idea...
You need to have all of your tax documents to enter all the information on your tax forms, including employers identification number (EIN) and names. Preparing for income tax filing requires gathering all W-2 forms, 1099s and 1098s as well as charitable donation receipts and investment income.
When you complete your tax return preparation process, these top programs run an error check to make sure that your entries are all correct, and that you entered all of the information needed. If there are errors, you will be instructed as to what needs to be corrected.
These programs also analyze your return to determine if some entries are common triggers for IRS audits. If there are triggers found, you have the opportunity to go back and make changes to these figures in order to reduce the risk of an audit.
Top Choices: Online Tax Firms Offering Online Tax Software Programs
Today's Online Tax Firms help taxpayers prepare and file their own income taxes on the Internet. You can e-file or mail your return to the IRS after completing the preparation process online.
|Online Tax Preparation Software||Online Professional Tax Preparation Firms|
|Tax Firm Name||Rating||Self||Pro|
|TurboTax||#1 selling tax software brand for online tax preparation|
|HR Block||top selling online products plus local office professionals|
|E-Smart-Tax||basic, deluxe and premium online tax return programs|
|TaxAct||basic online tax filing for simple federal + state returns|
|e-file||file simple federal and state taxes all for one low price|
|FreeTaxUSA||basic simple returns can be completed online for free|
These top tax software choices help consumers complete this process easily with features like:
- Fully guided step-by-step tax preparation that walks you through the filing process
- Error check double checks all calculations and alerts you of red flag audit triggers.
- Online tax software can help you even if you have minimal experience doing your own taxes.
- Work from the comfort of your own home over a secure internet connection.
- Take advantage of every deduction possible with support for over 350 tax deductions.
- Free tax preparation is available for simple no investment returns, and they include free efile.
Free Online Federal Tax Return Preparation
FreeFile: Some people will be able to file their federal taxes for free when using an online tax software company. In some states, it's also free to file your state returns. Most websites have income requirements, age requirements and state requirements to qualify for free filing of your federal tax return. The IRS website has a list of companies with guidelines to file for free with freefile.
Free Editions: You may also qualify to file for free with the free editions that these top brands like TurboTax and HR Block offer. These free editions are designed for simple tax returns that don't require special forms for investments, home ownership or claiming deductions.
Automated Calculations: Using online tax filing software firms and companies allows anyone a chance to file their taxes themselves, even if you are not good with taxes or math. These websites do all of the calculations for you after asking pertinent questions to gather the data necessary to complete your return.
efiling your return: When you file by e-file you get a conformation that your return was accepted or rejected right away. The state and federal tax authorities will send separate responses to insure your return was received. If the return is rejected, it will give you a reason and allow you to correct it and resubmit without paying another fee. Using efile has become the norm this era with a much faster response from the government, and the ability to get your refund deposited directly into you checking or savings account in as little time as ever. Now that's fast!