What is the best tax preparation software?

Tax season causes stress for many. No matter your background, staying ahead of the tax due date is important. As tax season approaches, don’t get caught unawares. Learn more about the best tax services and where to get tax preparation in Denver.

preparation software

Why use online tax preparation software

As paper forms are becoming a thing of the past, online tax preparation is more popular than ever. With online tax forms, all your information is in one place. You can more easily keep your tax forms and documents organized and ready to file. This is also helpful if you need to submit corrections or reference your tax filing at a later date. For those that don’t have straightforward income tax filings, online preparation software is a much more organized way to file.

Additionally, tax preparation software keeps past tax forms and filings in their database for easy reference. You’ll no longer need to triple check which tax forms you’re submitting and can relax knowing all calculations are correct the first time.

Other tax filing service options

There are also many free or low-cost options when it comes to tax preparation in Denver. Many online sites offer free consultations, as well. For those taking a standard tax deduction, it’s easy to generate W-2 income data using online services.

Just be wary of hidden fees when it comes to tax preparation software. Some sites only offer free versions up to a specific income threshold level. Others offer free services for Federal taxes, but charge fees for State or Local taxes. Additionally, sites might charge fees if you have additional questions or need filing assistance.

Here’s a breakdown of the most popular tax preparation software and their filing limits:

H&R Block: Paid and Free Services

  • Filing options for W-2, Social Security, and retirement plan incomes
  • Childcare expenses
  • Child Tax Credit
  • Earned Income Credit support
  • Student Loan Interest

TaxAct: Paid and Free Services

  • Filing options for W-2, retirement, and unemployment incomes
  • Child Tax Credit
  • Earned Income Credit support
  • College expenses

TurboTax: Paid and Free Services

  • Filing options for W-2 income
  • Child Tax Credit
  • Earned Income Credit support

Jackson-Hewitt: Paid and Free Services

  • Filing options for W-2 and unemployment incomes
  • Earned Income Credit Support
  • Filing up to $100,000 in taxable income

Keep in mind that many tax services offer low-cost options to those within a certain income bracket or serve in the military. Contact your local tax professional for guidance on these money-saving options.

Tax Preparation in Denver

The best way to save time and money on your tax filing is with the help of a skilled tax professional. They can even help you navigate online tax preparation software so that you are getting the most out of your return. Creating a tax plan can also help you stay ahead of the tax season so you aren’t scrambling at the last minute. Trust a local tax professional with years of tax planning and tax assistance experience. Whether it’s for state or federal filings, a Denver tax advisor can help.