The popularity of DIY tax software for your personal taxes is on the rise. How will you choose the right one?
Do you want to purchase tax software for your personal taxes so you can do it on your own? More people than ever are using software programs to help them fill out their federal and state tax returns. But not all programs are the same. Here’s what you should be seeking when it comes to an at-home tax program.
Edit and Add All Year Long
Let’s face it—too many people wait until the last minute to file their personal taxes. You find yourself scrambling to find lost receipts, tax forms, and possible deductions. As the clock nears dangerously close to the deadline, you haphazardly throw everything together. However, you know good and well that you missed out on a few money-saving credits.
To avoid a situation like this, you need a tax program that will allow you to edit your income and deductions throughout the year. Doing so will save you time and a few migraines when April 15th finally rolls around. However, the problem is many software programs don’t allow this. So, instead, you wait and enter the tax race feeling behind and unprepared.
Audit Assessment and Management
In a perfect world, you’ll never get an audit letter from the United States government. Unfortunately, no matter how careful you are when filing, you may still receive this dreadful notification. After all, the IRS audited about 1 million personal tax returns in 2017. Will you be the next victim on their sometimes random list?
If you use a software program to DIY your taxes, you may find yourself in for an unwelcome surprise. Who will help you if an audit letter appears in your mailbox? Will you have to represent yourself? Venturing into an audit without a knowledgeable mentor may lead to you overpaying Uncle Sam. Only choose software that provides audit protection. Even better, let a living, breathing human do your taxes instead.
Access to a Real Person
Even though a tax software program may seem like a surefire solution, it’s not perfect. You may run into a few snags along the way. The tax law is long and daunting, and the government has no reason to simplify things for the average citizen. After all, the fewer deductions you claim, the more money the IRS makes. If your software isn’t up-to-date, you may find yourself missing vital deductions or paying too much for the year.
If you ever have a question regarding your taxes, nothing beats speaking to a real tax professional. They can walk you through the process, ensuring you don’t miss out on any credits or deductions. However, many personal tax software programs don’t offer this feature. And the ones that have the feature often charge an arm and a leg to use it. Maybe you should ditch online and computer programs altogether and head to a local tax expert.
More Dependable Than a Computer
Do do-it-yourself tax programs cost less? Initially, most software programs seem more affordable on paper. However, in many cases, you’ll end up paying more than you owe in the long run. Moreover, if you get audited, you’ll find yourself climbing an uphill battle alone.
Before you invest in the latest online program to file your taxes, discover how we do things at Incompass Tax, Estate & Business Solutions. We have more than 29 years of experience in the tax industry. Our team knows how to claim all relevant deductions, and we’ll make sure you file your taxes right the first time. Whenever you need help, you’ll be able to speak to a professional right away. We make filing taxes simple. Schedule a consultation to learn why our team is more dependable than gimmicky tax software.