Online Tax Preparation
What Is Online Tax Preparation?
Historically, people have had two options when it came to tax preparation and filling – either go to an accountant or muddle through a mountain of tax paperwork and do it yourself. Nowadays, thanks to the Internet, there is a third option.
Today's taxpayers don't have to pay an over-priced CPA, nor do they have to deal with piles of paperwork. Why? Because online tax preparation services have paved the way for fast and easy filing in the 21st Century.
Online tax preparation services allow taxpayers to prepare and file their taxes quickly, accurately and right from the comfort of their home or office. Instead of hiring a professional, consumers can use these services to guide them through the tax preparation process, with may services offering accuracy guarantees and audit protection packages.
Selecting The Best Online Tax Preparation Product
Now that you understand why so many taxpayers turn to online tax preparation products, it's time to experience the benefits for yourself. The question is, which one is right for you?
There are a number of online tax preparation websites to choose from, each of them having their own unique advantages (and, at times, disadvantages). When deciding which product is right for you, there are a few specific areas you need to look at, including:
User Interface
A user-friendly interface is critical when it comes to online tax preparation services. If an interface isn't user friendly or intuitive, it can leave a margin for error, which can be disastrous in the world of taxes.
1st Place:
For the best user interface, we selected TaxBrain due to its user-friendly layout and design. The program is extremely easy to use and provides for a quick and painless tax prep experience.
2nd place:
In second place, we have CompleteTax. While the CompleteTax interface was not as intuitive as TaxBrain, it was easy to use and there were no problems understanding the process or the prompts.
Product Application
A product's application is one of the most essential elements to consider when selecting a tax preparation service. Our two top choices in this category are:
1st Place:
Once again we have TaxBrain in first place. TaxBrain truly offers superior features and functionality, which are very user-friendly and easy to understand.
2nd Place:
For second place, we chose CompleteTax due to its comprehensive features and online guides and support.
Pricing
When it comes to pricing, online tax preparation services run the gambit – from free to nearly $100.
1st place:
We had to place TaxAct in first place when it came to pricing for the sheer fact that the basic edition is absolutely free, including e-filing.
2nd place:
RapidTax came in second in the pricing category. While it's not as good of a deal as TaxAct, this product is very cost competitive when compared to the other products in the marketplace.
Customer Support
Taxes can be confusing and it's not uncommon for a consumer to run into a glitch, roadblock or question when preparing and filing taxes. Because of that, it's essential that customer support be helpful, knowledgeable and easy to access.
1st place:
TurboTax receives first place for product support because out of all of the products we reviewed, their support staff was the easiest to access and the most comprehensive in answering our questions.
2nd place:
TaxCut came in second place for customer support. We would have placed them in first, had it not been so hard to locate a contact link or phone number and had their email response been more helpful. However, there is much to be said for being able to contact someone via phone with little hold time, and TaxCut defintely held up in that department.
In Closing
Because everyone has their own level of technological skill, tax knowledge and patience, the tax product that is right for you may not be right for someone else. Read through all of the reviews thoroughly before deciding on which online tax preparation service would be best for you and your specific tax situation.