For every business owner, tax season is stressful and challenging. Hiring a professional accountant is always recommended, but if you want to save some bucks, some excellent tax software can help you manage your accounting tasks effectively.
In this article, I will discuss the top 9 best tax software that can help you file your taxes for free without being charged by an accountant or spending money on expensive software from big brand names like Turbo Tax and H&R Block. So let’s get started.
TurboTax Free is a free version of TurboTax that allows you to file taxes for free. TurboTax Free is only available for simple tax situations and covers the federal return.
TurboTax Free is the most comprehensive free option to prepare and file taxes online. It includes popular features like support for rental income, self-employment income, stock sales, student loan interest, and the ability to import your W-2s.
TurboTax Free includes all the benefits of TurboTax Live, but with one crucial difference: it doesn’t include an interview feature.
TurboTax Free is the right choice if you prefer not to answer questions while preparing your return.
If you have more complex tax situations, such as having investments or business income, you will need to upgrade to a paid plan like TurboTax Deluxe or Premier.
2. H&R Block Free
H&R Block Free is an excellent option for those who want to file their taxes. The program offers a simple and easy-to-use interface, though the fact that it only works with Windows machines may deter some users.
H&R Block Free also comes with tutorials, step-by-step help, and live chat support available from 9 am to 5 pm EST from Monday through Friday.
3. TaxHawk Basic
TaxHawk is a free online tax filing software that allows you to file your taxes on any device, anywhere.
TaxHawk is easy to use, simple and convenient. It has made it possible for millions of people to file their taxes for free every year.
TaxHawk Basic is the first step toward TaxHawk’s more comprehensive services. It’s designed for people who don’t itemize deductions, own their own business, or have complex income sources such as capital gains or self-employment income.
It’s also a good option if you want to try out TaxHawk before committing to our premium service.
4. Credit Karma Tax
Credit Karma Tax is a free tax filing service designed specifically for people with simple tax situations. It’s also the best option if you just want to file your taxes for free.
Credit Karma Tax works by connecting to your federal income tax return and analyzing it alongside other information on your credit report, such as deductions and credits that might not have been included in your original return.
If this helps you find more money owed or any credits you missed out on claiming, then Credit Karma Tax can help get things fixed before being processed through their partner TurboTax—which means no additional cost for their services.
5. TaxAct Free Edition
TaxAct Free Edition is a free tax software that can help you file your taxes online. The company’s website says it’s the best choice for people who want to file their federal and state returns, but not at the same time.
You’ll have to go through some extra steps if you want to file both your state and federal returns together. If this is the case, you should look into H&R Block or TurboTax’s free options instead.
TaxAct offers its free version only for those making $64,000 or less yearly. If you make more than $64k annually, TaxAct recommends switching to one of its paid plans (starting at $19).
6. Jackson Hewitt Online Free Edition
Jackson Hewitt Online Free Edition is a tax preparation software that helps you file your federal and state taxes online. It’s one of the best options for filing your taxes for free, as it offers a great user experience and allows you to file electronically.
If you want to file your state taxes, there is an option to purchase their tax software—but it will cost you $39.99 per state (plus any applicable fees). Jackson Hewitt lets you choose whether or not to pay for their Online Premium Edition or just use their Free Edition.
The Premium Edition will give you access to additional features such as expert-assisted advice on credits and deductions available by phone or chat during tax season, guidance with refund planning through various financial institutions like PayPal®, investment portfolio management tools, and more.
All features are turned off when opening the program, so we recommend turning them on if they interest us after exploring this article further.
7. eSmart Tax.
eSmart Tax is a free tax software that offers federal and state returns. It’s completely compatible with Mac and Windows, so you can use it on whatever device you prefer.
This is a good choice for those new to tax software who want to file taxes without paying anything upfront.
The program boasts a simple, intuitive interface that makes it easy to enter your information, even if you aren’t an accounting or tax law expert.
TaxSlayer is an excellent option for taxpayers who want to file their taxes online and don’t mind paying a little extra for the convenience.
Taxpayers can use TaxSlayer to file their federal, state, and local returns, which means they’ll need to pay $14.95 each time they want to do their taxes with the software.
But suppose you live in one of the 12 states where TaxSlayer has offices. In that case, it’s possible to sit down with a tax preparer at one of these locations, which will walk you through all your options so that you save money in the long run by filing your state and federal taxes with them instead of elsewhere.
Some other features come standard with this software:
ATX is software produced by Intuit, the same company that makes TurboTax. It’s free to use and includes excellent features such as being easy to use, good customer support, and audit support.
But it doesn’t include tax filing for business or state returns (you can file your federal return for free but will have to pay if you want to file a state return).
ATX is also not quite as full-featured as its parent product, TurboTax: it doesn’t include tax planning tools or options like cost segregation studies or accelerated depreciation that help maximize your deductions under Section 179 of the IRS code.
Agile Tax is free tax software for those with straightforward tax returns. With over 6 million users and the ability to import your W-2 information directly into the software, Agile Tax is an excellent option for those who want to file their taxes for free.
The program provides step-by-step guidance and support while you complete your federal or state return in under 30 minutes, including:
- Automatic calculation of all deductions based on your answers
- One question at a time for easy navigation through the process
- Electronic signature capture when you’re ready to file
IRS Free File is the IRS program that helps eligible taxpayers pay for tax-related products and services. The service is available to taxpayers who earned $62,000 or less in 2018 and are eligible for free tax preparation and e-filing.
The IRS Free File program allows taxpayers to find the software they need to file their taxes for free.
And if you have a complicated tax situation, you can still qualify for free help from IRS-certified volunteers.
IRS Free File offers two ways to file your return:
FreeFile Fillable Forms. This option allows you to file online using most people’s electronic versions of the IRS paper forms.
You’ll be able to use these fillable forms without worrying about how they’ll look on paper once they’re printed.
FreeTaxUSA Online Premium Edition with Direct Deposit (Form 1040 only). This option is designed for those eligible for free assistance from IRS-certified volunteers who can help with more complicated returns such as Schedule C business returns and itemized deductions.
Now you should better understand how to file your taxes using tax software and which ones are the best. You can always look into other options that may fit your needs better. Some software may charge a fee, so research what they cost before purchasing the product.
If you’re still having trouble finding something that works for your situation, try contacting an accountant or tax professional in your area who can help walk you through the process.