Tax software can be incredibly useful to small business owners. It helps you to file your state and federal taxes easily and accurately. However, tax software can also be expensive.
While it does provide a great service, some business owners may not want to shell out too much cash for something they might only use once per year.
Fortunately, there are several tax software discounts and free tax software services available. You just have to know where to find them.
Let’s look at how you can find discounted and free tax software services, and how these programs can help you and your business during tax season.
Tax Software Discounts 2019
Tax season is still several months away, but, if you start looking now, you can find a variety of great deals on tax software and tax preparation services.
Below are a few great tax software discounts that you can take advantage of for the coming tax season.
H&R Block Deluxe + State
H&R Block is one of the major providers of tax software in the country, so you can be sure that the company’s products are reliable.
H&R Block Deluxe allows you to easily import previous tax returns and forms (e.g., W-2s, 1099s, etc). You can even import documents from other tax preparation services if necessary. This software also allows you to chat with a tax expert, access step-by-step Q&As and assesses your risk of being audited.
This tax software is normally priced at $45 but is currently available on Amazon for $35.
TurboTax Home & Business
TurboTax is one of the most popular companies in the tax software industry. This company offers a wide range of full-features tax preparation products to help individuals and businesses painlessly file their taxes.
TurboTax Home & Business will help you maximize your deductions by searching for 350+ potential tax credits. You will also have access to free 24/7 online support, and can easily import your tax information from previous years.
TurboTax Home & Business is normally $100, but can currently be found on Amazon for $90. You could consider that the best deal on TurboTax.
TurboTax Premier would be a great option if you sold any stocks, mutual funds, bonds, or held any rental properties over the past year.
This tax software will help ensure that you can keep as much of your rental income and investment income as possible. Like TurboTax’s other products, TurboTax Premier will let you automatically import your tax documents to make filing your taxes as easy as possible.
TurboTax Premier is currently priced at $80 on the company’s website but can be found at Walmart for $72.
Free Tax Software
If you are an average W-2 employee with no additional sources of income or the need to make itemized deductions, there are several free tax software services available.
While these products are much more limited than paid tax software, they can take care of your basic tax preparation needs.
H&R Block Free Online
H&R Block’s free online edition is one of the best free tax preparation services available. This product still covers a variety of common deductions, offers support from tax professionals, and many other great features, including:
- Audit support
- Step-by-step instructions
- Federal and state filing
While you will miss out on certain features, such as importing tax forms, H&R Block offers one of the most full-featured tax software packages available.
TurboTax Free Edition
TurboTax also offers a free tax preparation package for customers who don’t need the additional features offered by the paid packages.
TurboTax’s free tax software is easy to understand, easy to use, and offers as many features as you could hope for in a free tax preparation service.
This software has real-time audit risk detection, tracks your refund as you go, provides free live chat support, and offers e-filing for state returns.
While this service is great for most average workers, you will have to upgrade to access more advanced features, like itemized deductions.
eSmart Tax isn’t as popular as H&R Block or TurboTax but it is a fantastic free tax service for most individuals.
eSmart Tax offers many great features, like:
- Support from a CPA if you are audited
- The ability to import tax documents from other tax services, like TurboTax or H&R Block
- Free chat and e-mail support
- Earned Income Credit (EIC) support
Unfortunately, though, you do have to pay extra to file a state return. You also won’t be able to make itemized deductions, and the platform doesn’t offer support for dependents.
However, if you only need to file a 1040 EZ, eSmart is a great tax software option.
The Benefits of Paying for Tax Software
If there are so many free tax software options, why bother paying for one?
Free tax software is a great resource for individuals who have simple returns. However, for people with multiple sources of income, like people who own a business, free tax software doesn’t offer the features needed to maximize their refund.
Most free tax software only supports the 1040 EZ filing. If you are self-employed, a business owner, or an investor, you’ll have to pay to access the features you need to accurately complete your return. Additionally, paid services often offer great support services.
Ultimately, while free software can meet the needs of the average worker, professionals with multiple sources of income who need to make itemized deductions should consider opting for a paid tax preparation service.
So take advantage of the discounted software we mention in this article before the price goes up again.
Tax Software Discounts Will Help You Save a Buck
No matter what your tax preparation needs are, there is a service out there that will fulfill them. These services help you complete your taxes accurately and timely.
Free tax preparation software can be the perfect option for W-2 employees, while paid software is often better for professionals with several sources of income, like business owners or investors.