tax preparation software

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Nowadays, using a tax preparation software is one of the easiest and most stress-free ways to file your taxes. You don’t have to worry about manual calculations or human-made errors. And on top of that, you’ll get instant results as to what you owe (or, in the best cases, how much you’ll get back!).

However, there are so many different companies that offer online tax services. Not to mention, each company has multiple products and offers to choose from. For example, when can you file for free, or when should you pay for the software?

While it can be confusing, we’re here to help explain that in more detail. And we’ll even share which tool you should use so you’re prepared heading into tax season.

What’s the Best Tax Preparation Software?

tax preparation software
H&R Block

When it comes to ease of use, H&R Block is the best tax preparation software on the market. The interface is straightforward to understand, which means fewer mistakes on your end! Plus, you’ll be able to see in real-time how much money you will owe or get refunded back.

Types of H&R Block Software

Depending on your employment status and source of income, H&R Block has several different software products to offer. If you have a simple return, you can use their free online tool. Yes – that means it is completely free to file and submit your taxes to the IRS!

However, you may have more complex situations, like self-employed income, investments, or dependents to claim. In this case, you can upgrade to use one of their paid tools. Here is a breakdown of the e-filing products they offer:

  • Free Online: Go-to product for those with a simple 1040 form.
  • Deluxe: Ideal for filers with complex situations like dependents, HSA accounts, and real estate mortgage deductions.
  • Premium: The tool for those with income from rental properties or investment income from real estate, stocks, bonds, or crypto.
  • Self-Employed: Perfect for business owners or those earning freelancing or self-employed income.

And now, if you file before April 15th, 2024, filers will earn 20% off on DIY Online Products with H&R Block! That makes them one of the most competitively priced tools out there!

Advantages of Using H&R Block

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Besides the simplicity and ease of use, there are several other reasons to use H&R Block’s tax preparation software.

  • AI Tax Assist: If you have the Deluxe, Premium, and Self-Employed products, you can use the free AI Tax Assist. It can help you during the filing process by answering any questions you have that come up while entering your information.
  • Tax Pro Review: For an extra charge, you can pay a professional tax pro to review your work. They’ll look for any errors to make sure you’re getting the lowest tax or maximum refund possible.
  • Max Refund: If you want to get the most out of your refund, H&R Block will be there to help. By using H&R Block, you’re guaranteed to get the max refund.
  • Extension Filing: If you need more time to file, they can help you file your extension to the IRS for free.
  • Mobile App: If you prefer to do your taxes on the go, you can use their mobile app.
  • Tax Identity Shield: For an additional fee, can protect you against identity theft, which may delay your refund by months or even years. You’ll get alerts if your personal information or SSN is found on any other return in their system.

Get More Out of Your Tax Return

When it comes to tax preparation software, it’s easy to see why H&R Block is one of the most used tools in America. While their products make filing a breeze, there are still some tips and tricks you should know going into tax season. After all, you’ll want to make sure you get the most out of your refund. And once you get your money back, we have a couple of practical ideas on how to use that extra cash!