It is not only tedious, but also prone to errors, trying to prepare your 2011 tax returns using a primitive brochure, a stash of receipts collected over the past year, fragments of your pay stubs. You are much more likely to make a mistake and fill out the tax form incorrectly, resulting in a very frustrating experience. On the other hand, paying a tax accountant to prepare your 2011 tax returns can be more expensive than you want to pay. That’s why more and more people are learning to use DIY tax software to help them fill out their tax forms correctly this year.
You have quite a few options here, but most people will only have heard of the most popular versions. This professionally developed personal income tax software can help you smoothly through the complicated process of filing your federal and state taxes, even if you are filing for the first time. This way, you can maximize your tax refunds while reducing the chances of being affected by a very troublesome IRS audit.
Another advantage of using this tax software is that they help you plan your finances for the coming year in order to reduce the impact of taxes on your income. These are invaluable professional tax strategies and personal financial planning that will save you a lot of money. And when April 15 rolls around, it will be a breeze to submit your tax forms.
Depending on the type of income you earn, such as those with investment or rental income, freelancers, small business owners, etc., there are specific versions of income tax filing software to choose from. Their prices depend on the edition you choose, the functions and features required, and the latest discounts available.
Regardless of the do-it-yourself tax preparation software you choose to buy, most will offer features such as final tax review and error checking, importing tax data from other personal finance planning software, refund meter, guided interview questions and answers to fill out your tax forms, comprehensive deduction finder, IRS tax law publications, next year’s tax planner, IRS audit defense, national tax averages for comparison, joint or separate filing for married couples, etc.
They are also available as boxed software suites or you can download them immediately if you don’t have time to lose, as April 15 is coming sooner than you think.