Why Personal Income Tax Software Can Be Truly Beneficial

tax-preparation-software-03As much as tax is a scary word, the task of doing it is horribly daunting. Taking that in consideration, you probably hire a certified public accountant to do your taxes.

That’s not surprising at all. According to the moneywatch (see video below):

“Sixty percent of Americans still have living, breathing tax professionals prepare their returns.”

Only 20% of Americans file their own taxes using a personal income tax software.

There’s no doubt that hiring a tax professional is more costly. But you have no choice. In your mind, you’d probably just settle for a tax professional that’s a little over the budget than a personal income tax software that can save you a couple of dollars. After all, not everybody has a knack to understand the whole tax system. Even Albert Einstein admits that the hardest thing to understand is the income tax.

But the good news is that there is a personal income tax software that can actually make it easy. It can guide you easily and give you a good refund.

Perfect for first-timers, the Turbo Tax software is the easiest to work with. Kate Ashford, one of the 20% of Americans that use a personal income tax software, has this to say about Turbo Tax.

“If you really feel like you want a little bit more hand holding, it might be worth the extra money to go with Turbo Tax.”

Turbo Tax comes in five versions. These versions are the following:

The variety of versions make it easy for you to find the right product, meeting all your specific needs. So maybe you own a home, a couple of bonds, or a small business; Turbo Tax has the right product for you.

This is definitely the best personal income tax software, especially if you are anxious about filing your own taxes for the first time.

While it claimed to be an easy software to work with, TaxAct was just not that easy most especially when compared to Turbo Tax. TaxAct is an online-based software. This personal income tax software comes in three versions:

This software seems reasonable enough to spend on considering the fact that you pay only when you file. But here’s the downside of the TaxAct:

According to Kate Ashford:

“If people are fairly familiar and have pretty simple issues I have no problem with TaxAct.”

With that description, it’s definitely not recommended to a first-timer.

The OLT software just didn’t cut. Kate Ashford went halfway through it and quit. If she can’t handle, what more a first-timer?

Then comes the certified public accountant. Nothing beats the human touch of this tax professional. It can definitely save you a lot of stress.

But in spite of that, Kate Ashford recommends using a personal income tax software. She recommends that you can go for a couple of years, filing taxes yourself. Then you can go for a check up with a CPA from time to time.

That sounds like the best way a personal income tax software can work for you. And knowing which software works well, now is probably the right time to do it yourself.