Tax season can be an overwhelming and daunting period of time. It is a time of year that most people want to ignore and put off for as long as possible, but it is also the most important part of your year. It is inevitable that you will have to pay taxes at some point in your life, so you better prepare now, right?
Tax preparation software has simplified this process by doing all the work for you. There are many different types of tax preparation software on the market, but we’ve found TaxAct to be one of the best. Here are our favorite reasons why Tax Act is worth using:
What is TaxAct?
TaxAct is a tax preparation software application that can be used to prepare your taxes for free. It is developed by an organization called Intuit, which also owns Quicken and QuickBooks. The program first went on sale in 1994, so there are many years of experience backing its development.
In the past, you could only use TaxAct if you were not filing more than 1099-MISC or had a modified adjusted gross income of $150,000 or less.
However, they now offer their service at no cost to all taxpayers regardless of income or filing status. Not only is TaxAct free, but it also offers very simple and easy to use instructions that anyone can follow.
The steps are as follows:
1) Enter information about yourself
2) File your federal return
3) Get your refund
4) File state return
5) Update info
6) Do year-round online personal finance
7) Change from current State to Previous State
8) Use calculator
9) Calculate next year’s estimated taxes
10) Update info
11) Print return
12) View PDF
13) Sign and print
17) Create PIN
Why use TaxAct?
When you’re pulling your hair out, TaxAct is the answer. You don’t have to wait in line behind a bunch of people or spend hours doing it yourself.
You don’t have to be an expert to use it! Tax Act has created a user-friendly interface that lets you easily navigate their website, find the information you need and get your return done in no time at all.
It’s always up-to-date! TaxAct makes sure that they have all the latest tax codes and laws. They make sure that every year there are no surprises by updating their software accordingly.
TaxAct is constantly improving their product! TaxAct updates their programs yearly with new features like improved navigation, updated forms and more. These changes make for a better user experience and are designed to help them improve customer service.
How to get started with TaxAct
The first step to getting started with TaxAct is setting up an account. You can register for a free account, or you can pay as you go for one of the plans. If you want to use it for your business, then you can upgrade to one of the business plans.
Once you set up your account, you’ll need to create an individual profile and enter some basic information about yourself and your taxes. From there, the online software will ask how many dependents you have and what type of filing status that you are – single, married joint return or head of household.
The software will also ask how much money was earned this year and how much money was spent on certain deductions like charitable donations or medical expenses.
You’ll be asked if any income came in from sources other than a paycheck – like investments or rental properties. The software will also ask if there were any changes in income over the course of the year (like a new job).
The last thing that TaxAct asks is which state(s) that your tax return applies to. It is important that this is done correctly because if the wrong state is selected, then the state taxes won’t be calculated accurately and at worst might not be calculated at all!
The benefits of using TaxAct
We’ve found that there are many benefits to using TaxAct.
- It is extremely user-friendly. If you feel intimidated by the idea of keeping up with your taxes, this software will take care of it for you.
- You don’t need any special training or skills to use TaxAct. It doesn’t require any special knowledge or qualifications to use this software.
- TaxAct is affordable and cost efficient. There are many tax preparation software programs on the market, and they can range in price depending on what you need them for. But TaxACT is affordable and affordable, which makes it easy to budget for your needs without breaking the bank.
- TaxAct gives you the opportunity to personalize your return by selecting from a variety of tax topics, including a charitable donation option and retirement plans. This allows you to determine what deductions are best for you and saves time since everything is done in one spot!
The cost of using TaxAct is less than the cost of hiring someone
We all know that we have to pay taxes, but sometimes the cost of preparing just isn’t worth it. TaxAct is a great option because it saves you time and money. You can use a software like TaxAct to do your taxes instead of hiring someone to do it for you.
When you hire someone, they charge you by the hour, which can add up quickly. With TaxAct, there is no set price- you only pay for the software when you file your return.
A single family tax return usually costs about $30-$50 with tax preparation software, whereas an accountant will usually charge $250 or more for that same service. The cost difference is huge and makes TaxAct an excellent choice for most people who want to save some money on their taxes this season.
How TaxAct Makes It Easier to Do Your Taxes
TaxAct is a great option because it offers a free federal return, which means you don’t have to worry about spending money on federal tax preparation. This is especially great for students who are low on funds and don’t have the cash flow to spend on tax preparation. You can also get your refund faster by e-filing with TaxAct. It has helped us save up to $25 in fees with every e-filed return.
With Tax Act, you can also file your taxes from anywhere with internet access and take advantage of live chat support that’s available 24/7. You can even prepare next year’s taxes before the current year is over!
Why You Need Tax Preparation Software
Tax season can be a daunting and overwhelming time of year. You might feel overwhelmed by the number of things you have to do. For example, you may need to collect all your paperwork for tax purposes, research what deductions you qualify for, and fill out forms that seem complicated and confusing. Luckily, there are some great tax preparation software programs available to help take care of all those tasks.
The Tax Act software simplifies this process by doing all the work for you. All you need in order to use this software is your personal information (name, address, social security number) and a little bit of time. The Tax Act program will automatically fill out all the forms with your information and deduct any relevant taxes or credits on your behalf. It’s quick, easy-to-use, and most importantly – it’s accurate!
How is TaxAct Better than Other Software?
TaxAct has made tax preparation easy. They have many helpful features that make the process much more efficient and enjoyable.
One of the best benefits is their accuracy guarantee. TaxAct guarantees a 100% accurate return, even if you’re changing jobs, filing as head of household, or claiming a home office deduction. You can also use TaxAct on your smartphone, which makes it easy to prepare taxes on-the-go.
As you can see, TaxAct is one of the best options for doing your own taxes this year! It simplifies the entire process and makes it easy to file your taxes from anywhere with an internet connection and a device with a browser.
To get started with TaxAct, you will first need to log in. You can do this by clicking the “Login” tab at the top right corner of their website. Once there, you will be prompted to enter your email address and password. Once you are logged in, the TaxAct homepage will appear on your screen.
You are now ready to start using Tax Act for tax preparation!
How do I use TaxAct?
Start by going to the site, clicking on “Sign In” and then “New User?” The next screen will ask for your name, email address, date of birth, state, zip code and if you want to create a password. You can also click on “Skip Sign In” if you already have an account.
If you are new to TaxAct or doing taxes for the first time, it is important to make sure that you choose the correct type of tax return. You can do a 1040EZ if your income is below $100,000 and you have no dependents or a 1040A if you are self-employed with an LLC.
You will be able to save your information by clicking on “Save & Continue” when prompted.
Click “Continue” to start filling out your personal information and select which deductions apply to you. If you don’t know what some of these terms mean (like mortgage interest), just leave them blank!
You will then go through the process of entering your income information into TaxAct and any other expenses that are applicable. This includes W2 wages, total business profit from Schedule C or SE self-employment income, capital gains/losses from Schedule D, interest income form 1099B and self-employment tax totals from SE Schedule SE.
When finishing up the interview process in Tax Act (which should take about 20-30 minutes) be sure to click “Save & Finish.”