The onset of the New Year! It is time to file your federal tax returns. A lot of pain strikes in the spine when it comes to filing taxes. However, many tax filings services have been looking for ways to reduce your stress. They have approached ways to make your tax filing easy. However, in the mod of complex tax filing services you need to look for the easy options for having a smooth filing of tax returns.
WHAT ARE THE OPTIONS FOR TAX FILING SERVICES?
In the early era of tax software, TurboTax purchased by intuit rose in early 1980. Intuit has also been named in making the accounting software called QuickBooks, accessed by millions of companies for handling their books and records. However, TurboTax stands independently having a user-friendly design and straightforward interface. It is guided at every possible step for making your tax filing easy.
TurboTax has a free use scheme where it allows a free filling option for one federal return and one state return without any cost. Although the free scheme supports the simple return and forms 1040. If you want to have itemized deduction with Schedule A you will require to upgrade your paid plans with schedule A. TurboTax provides four filling options- TurboTax freeedition, TurboTax Deluxe, TurboTax Premier, and TurboTax Self-employed.
OTHER PREFERRED CHOICE FOR TAX FILING:
It is provided as one of the earliest tax software achieving success in a large state. The tax filling using this software is user friendly and comes at an affordable price.
The TaxSlayer provides five electronic filing options. The Simplified free option allows tax filing at no cost. Your first state return also comes with no cost. However, if you need to file another form you need to upgrade to the classic option. The upgraded classic option costs around $17 for federal filing returns and $29 for state returns. There is no such big difference in the feature apart from the frequency of your tax filing.
However, if you are eyes for more features you can upgrade to premium filing which amounts to $37 for a state return and $29 per state return. The audit support is been available in the premium plans. There are following four TaxSlayer filing options- simply free, classic, premium, and self – employed.
TURBOTAX V/S TAXSLAYER- WHO WINS?
TaxSlayer is comparatively less expensive but draws limitations in features. In the simplified version, you spend money on the required tax forms. You only get a calculator and expense tracker as additional features.
TurboTax provided more informative content for the tax preparers. All the TurboTax filing options provide audit experts helping you in preparing your audit. However, the audit support in TaxSlayer is available only in premium options.
The win-win situation for TurboTax over Tax Slayer is the tax advice provided to the self –employed tax preparers and business owners. You have a year of accessibility to QuickBooks Self – employed if you are thinking got look for this option. The feature not only helps you in tax preparation but also helps you in keeping a track of your travel and business expenses. Tax-slayer may be an alternatives to Turbotax however it does lag in premium and basic features provided by TurboTax, it hails as the king of tax software.