It’s almost that time of year again. For the tax year 2011, your taxes are due by April 17, 2012.
In the old days, people filed their taxes by filling out paper forms and mailing them to the IRS. But now that we’re in the electronic age, most people have graduated to using tax accounting software to do the job.
By switching over, the software will automatically calculate your return by asking a series of questions, saving you time.
Since these companies stay up-to-date on changing tax laws, they can even find certain deductions that you may miss if you filed your taxes manually. So you might get a higher refund by purchasing software.
What is the best accounting software?
We’ll look at three of the most popular tax accounting software that’s on the market today.
TurboTax Deluxe Federal + E-file + State 2011
Most people who’ve prepared taxes have heard of TurboTax. This software will ask you questions about your income, family, and tax situation to get the the biggest refund possible.
TurboTax also has a feature called the Audit Risk Meter that’ll see if your return is at risk of being audited. Then they offer tips to lower your chances of an audit.
Another nice feature is that if you used other software such as H&R Block’s TaxCut or TaxACT to complete your return from the previous year, TurboTax will import your tax information for you automatically. This will save you time.
You’re allowed to file up to five federal returns. Free federal e-file is included, allowing you to get your refund faster. State e-file is available at an additional cost.
H&R Block At Home Deluxe + State 2011
Unlike TurboTax, they say you can import your tax information from the previous year from only H&R Block At Home and TurboTax.
Similar to TurboTax, they also provide audit support and expert tax advice for free. And a nice benefit is that they guarantee a maximum refund. If you find another software that gives you a larger refund, they’ll refund the money you paid. Find out more info on the H&R Block at Home Deluxe Tax Software.
Preparation of your state return is also included, but e-filing will cost extra.
TaxACT 2011 Ultimate Bundle
The TaxAct 2011 Ultimate Bundle will guarantee the accuracy of your return, as well as look for every credit and deduction possible to maximize your refund. You can e-file your federal return for free to receive your refund sooner, but e-filing your state return comes at an additional cost.
Have you used any of these tax accounting software in the past? Did it make filing your taxes easier?