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Taxes are pretty burdensome and confusing, especially with the tight deadlines that pile up the stress on you. It’s not only these taxes that are confusing, but the choice of the best text software is challenging in itself. When you are unaware of the right software to figure out your taxes before it’s too late, your burden increases. As much as paying taxes is significant, choosing the right software is equally crucial.
Finances are never really fun, and when you sit on a scorching hot afternoon doing your taxes, the day gets a lot scarier. But with the right tax software at hand, you can make this task fun and exciting. Our list of the best tax software programs can help you figure out your taxes and ensure that you get the exact figures, whether a deduction or payment. With these tools on the market, you don’t have to waste your time going through your finances.
Although taxes have always been quite scary, they have gotten even scarier after COVID-19. A considerable fluctuation in the market has made them even more complicated. This has also increased the importance of having the right tax software. Your life will get less complicated, and all your anxiety concerning finances and taxes will be relieved.
That is why we have made sure to pick out the best tax software for you. With these incredible tax software programs, you can do your taxes in a short time without going through hell. Continue reading to know more about this tax software and how it can help reduce your stress and maximize your tax refund.
This article covers everything related to tax software, from its characteristics to its pros and cons, and a buying guide to choosing the correct software for yourself.
Top 3 Best Software For Tax Estimator In 2022
Here are the top 4 tax software programs we have picked out for you:
- Gettaxhub – Overall Best Tax Software For Tax Filing, Editor’s Choice
- Tax Slayer – Personal Finance Software With Tax Calculator
- H&R Block – Automated Solution For Tax & Finance
#1. Gettaxhub – Overall Best Tax Software For Tax Filing, Editor’s Choice
Gettaxhub is the first software on our list. This brand claims that it is the most innovative and high-quality brand. In this app, users can contact an accountant and seek guidance regarding their taxes without paying additional fees. For the recommendation, the app connects users to a professional accountant.
This software is not only limited to independent individuals looking to sort their taxes out but is equally efficient for businesses. After creating an account on Gettaxhub, the user will be immediately connected to a CPA, i.e., a certified public accountant. He will then be able to seek advice and ask questions from the concerned accountant based on his needs. Also, these CPAs will make sure to familiarize themselves with your finances to help you in a better way.
Blog Section: Gettaxhub is not only a great piece of software to help you out with your taxes but also provides its users with all the necessary information. The founders of this software believe that helping the users with their taxes is essential, but educating them regarding their finances is equally crucial. They intensely focus on their blog and keep their users updated on new financial terms. You will be able to get almost all the necessary information on their blog, including solutions to some fundamental tax problems.
User-friendly: As discussed earlier, tax software needs to be user-friendly. Gettaxhub comes with a pleasing interface and is relatively easy to use. You will rarely find anything complex or confusing on the platform, as it is made to provide ease to the users. Creating an account and uploading your documents to the forum is hassle-free. Also, the app’s reviews section is quite visible so that users can see what others are saying about the app.
Packages: Another fantastic thing about the software is its massive range of packages. This makes the app useful for people belonging to different financial statuses. There is a free and paid version of the app available. If you are someone who wants to avail all the essential features of the app, you can go for the paid version. But if you are not a regular taxpayer, the free version can do the task for you.
Affordability: The paid version of Gettaxhub is not a burden on your pocket, unlike other tax software on the market. With so many packages available here, you are free to choose the one that fits your budget and needs. In addition, the prices are pretty reasonable, starting at $159 for individual buyers and $459 for businesses.
- Both free and paid versions are available
- Features a dedicated CPA
- Maximum refund amount available
- 24/7 live chat
- Membership ID protection
- Consultation with CPA is free for five minutes only
#2. Tax Slayer – Personal Finance Software With Tax Calculator
Tax Slayer is one of the most comfortable and effortless tax routes for people who get bored of finances quickly. This software provides users with a hassle-free tax processing experience. The best thing about Tax Slayer is that it comes in four different versions and is not just limited to heavy taxpayers. Even if you are on the basic level and want to get your taxes sorted, you can avail yourself of the excellent features of the accessible version of this app. There is also a version of this software available for contractors and freelancers.
Packages: One thing about TaxSlayer that makes it stand out among other tax software is its incredible packages. This software offers a wide range of packages suitable for users having different needs and preferences. For instance, the app’s free version will work best for you if you are looking for cost-friendly software. Similarly, the paid version offers a variety of incredible features for businesses and other firms.
Refund Policy: The full refund policy of this software makes it the choice of a lot of users. Unlike most of the tax software available on the market, you will be able to get a refund with this software. There can be a lot of reasons for you not to continue with the paid version. But this is not something you need to worry about when purchasing this software, as you will get your money back.
Accuracy: When it comes to finances, especially taxes, accuracy is the biggest concern of all users. No matter how excellent or affordable software is, there is no point in going for that if it’s not accurate. But that’s not the case with Tax Slayer. You get 100% guaranteed accuracy with this app. And even if, by any chance, the result is not accurate, the software will take the entire responsibility. They will also reimburse you for state or federal penalties or interest amounts.
Easy to Use: The design of this software is relatively straightforward. You can start with some simple steps. Just create a free account using your email address and create your password. It will take you to the home page, where you can start entering your tax information. At any stage, there are no complex steps or operations involved.
Customer Support: The customer support service at TaxSlayer is pretty active and friendly. They are always available to help you with your problems and issues. You can get in touch with the support team using their phone number or directly email them, which makes the whole process of doing taxes relatively smooth for the users.
- 100% accurate
- No additional fees
- Highly affordable
- Both free and paid versions are available
- Few extra tax support options
- Moderate interface
#3. H&R Block – Automated Solution For Tax & Finance
H&R Block is one such software available on the market for doing basic level taxes. You can use this software to manage your finances accurately. Whether you are a college-going student or a tuition-going teenager, this app is the best solution to all your needs. This app provides students with two forms, including the loan interest deduction form and a form presenting tuition or fee statements.
Tax Education: One of the most remarkable features of this software is that it provides the users with all the necessary tax education. This software has all the information one needs to become a tax expert, from business income to fee statements and income tax, etc. The best part is that you get this immense amount of information on taxes and can also take a test to check your knowledge. In addition to this, users who pass the test well can also get a chance to become H&R experts.
Offices: H&R Block is not limited to the online world but has expanded itself a lot in the offline space. This app has around nine thousand physical offices in more than fifty states. Users can get guidance on their tax-related issues from these offices personally. So, if you are not a fan of online software and apps and want in-person assistance, you can visit their offices anytime. Online customer support is also quite active if you are looking for virtual help.
Tax Business: This software also offers users an escape strategy. When it comes to taxes and finance in general, nothing is certain. There is always a possibility that you could wish to quit due to lack of space. H&R caters to the needs of its users, and that is why you cannot only buy but also sell your tax business on this platform.
Easy to Use: Although the interface of this software is not as seamless and user-friendly as other software on the market, it is still quite easy to use. The personalization that this app offers makes it relatively straightforward. Also, the app is one of the best at reducing stress concerning finances for users. Stepping up your tax game gets quite convenient with H & R Block.
Online Version: The only thing that requires a bit of attention and focus regarding this app is account creation. After successfully creating an account, the remaining part gets quite convenient. This app comes with several different features like a touch ID and a progress bar at the top of the display for ease of login. Also, the app offers some interactive cue cards to make the process even more fun and exciting.
- Easy-to-use software
- The online version is excellent
- Affordable price
- Suitable for students and teenagers
- Tax Education
- Mobile setup often takes a lot of time
- Not a seamless user-experience
#4. TaxAct – Most Accurate Tax Software
TaxAct is another famous tax software serving users for numerous years now. With TaxAct, users can prepare their personal and professional taxes virtually. This software comes as a mobile app, too, and a desktop version. This allows users to manage their taxes and add forms, documents, and other complex tax returns whenever they want. TaxAct has been facilitating users for over 20 years now, and around 80 million returns have been made using this software since 2000.
Customer Versions: TaxAct is available in four different customer versions. These include a self-employed version that works best for small firm owners or business people. Other versions are available for people looking to do their basic level taxes and paid versions for high-level taxes. The prices of all these versions vary, so you can choose the one that suits your needs the best.
Shopping Cart: TaxAct features a shopping cart for its users. The purpose of this cart is to provide the users with details of which package they will purchase and enlist them all. Like other shopping carts you see on the internet, this one also summarizes all the products you have selected and gives you a final bill. This saves you from spending a lot of money, and you won’t be surprised by the final amount.
Customer Support: The customer support service at TaxAct is highly supportive. Users can contact customer support at any time with their problems. If you are new to this whole world of taxes and finance, there is no need to worry about processing your taxes. Even people who have been doing taxes for a long time face some problems, so we are beginners, it’s not a big deal. The tax becomes even more accessible thanks to TaxAct’s excellent customer service. You can contact customer support on the phone number available on their website or send them an email.
Quick Importation: Unlike other tax software available, TaxAct provides its customers with a prompt importation service. Users can now import their information efficiently without going through complex processes. Even if you have been using some other software previously, the shift to this one will be pretty smooth and hassle-free. You just need to upload a PDF file from your last year’s tax return, and you are sorted.
⇒ Visit the Official Website of TaxAct
- Highly accurate software
- Easy importation
- Mobile App available
- Shopping cart available
- No audit support
- Limited free plan
How We Made This List For Tax Return Estimator
When deciding on the best tax software in the year 2022, having a road map in mind to follow makes things much more manageable. That is precisely what we did in choosing the best software for us.
We began by conducting thorough research and visiting all the sites we could find on the web. After this, we selected around 20 pieces of software, roughly. The next phase was to shortlist the best ones. That’s when we made a list of things we wanted in this software.
What We Looked For
Here is a list of the things we looked for in our top picked software:
- Accuracy: The first thing we consider when looking for the best software is the extent of its accuracy. To put these apps to the test, we figured out which app accurately identifies all the circumstances in our lives. Many software out there usually focuses only on significant situations and finances in life. But we made sure to include only those programs in our list that target both familiar and not-so-joint finances in our lives.
- Easy Language: The primary purpose of this tax software is to make the whole process of doing taxes hassle-free and exciting. That is why it is imperative that the apps we choose use an easy language. The apps that use simple language and provide the users with friendly prompts are usually more stress-free than others that use complicated financial terms.
- User-friendly: If tax software is hard to use with a poor interface, it will cause users stress and annoyance. In addition to the unnecessary aggravation, there will be higher risks of errors accompanying this software. This will cost you a lot of time, and you could lose your money too. In a tax app, everything should be clear to avoid any confusion. The size of the text, its font, and navigation need to be straightforward.
- Customer support: Although excellent and reliable customer support is equally crucial for all the software on the market, its need increases manifolds when dealing with taxes. Doing taxes gets pretty challenging at times, and the users keep facing many problems. That is why opting for software with excellent customer support service makes things smoother and hassle-free. This way, you can complete your task on time, and you don’t have to wait for hours or even days to get answers to your queries.
Factors to Consider When Choosing The Best Tax Software
Good tax software will make the process of doing taxes hassle-free for you and add a lot of fun to it. All the difficulties you usually face while doing taxes on your own, like meeting some ambiguous terminology or being unable to figure out the finances, will be solved with the help of this software. But getting your hands on this high-quality tax software is quite challenging. Thus, while choosing tax software, keep the following factors in mind:
- User-friendly Interface
When it comes to tax software and websites, the most important thing is user convenience. No matter how excellent or functional software is, if it cannot provide ease to the customers, it’s of no use to them. When looking for the best tax software on the market, prioritize the ones featuring a user-friendly interface. If a website contains too many confusing backlinks, doing taxes gets even more complex. A straightforward website will get more visitors and will enable them to work at a faster rate.
While selecting a tax software program, you should keep in mind its price. Usually, tax software prices vary depending on the platform and the purpose of the software. For example, if your only aim is to pay the taxes on your tuition fees or other essential finances, the cost will be pretty low. On the contrary, tax software used for businesses and setups is pricier. But regardless of the usage of this software, it doesn’t make sense to spend a lot of money on it. That is why it is always advised to compare the costs of different tax software with each other and choose the most affordable one.
- Audit Defense
One of the most common characteristics of good tax software is that it offers a maximum refund and is 100% accurate. In addition to this, this software usually features a tax expert who is always available to handle any issues with the filling or inaccuracy. They don’t avoid paying penalties and fines if the results are inaccurate. Before deciding on any platform, be sure to read its terms and conditions carefully. This will save you from disastrous situations in the future.
- Access to CPA
Software and brands generally provide easy access to CPA. These CPAs help the users with their problems and queries regarding taxes. Sometimes, consulting a CPA gets quite expensive, but what more can you ask if a brand sorts that out? There are a lot of tax apps that connect you directly with a CPA after account creation. This saves both your time and effort and adds a lot of fun to your tax processing journey. So, figuring out how easily you can connect with a CPA or tax expert at a brand and its cost will save you a lot. Apps like TaxAct do not charge a single penny for CPA consultation.
FAQs On Tax Refund Estimator
Q1. What do you mean by tax software programs?
Tax software programs deal with the automation of almost all the aspects relating to tax processing and filing tax returns. Most of these programs feature a user-friendly interface and guide them through every step. They help the users fill out forms, figure out deductions, keep track of income, and do other things.
These tax software programs usually work best for beginners and come in numerous versions. Although many businesses and firms also use these programs, they use more advanced versions of them. Some free versions of these tax software programs are available on the market, but they have limited features.
Q2. What is the need for tax software programs?
Tax software programs are an excellent alternative for people who don’t want to seek professional help in doing their taxes. However, instead of doing the taxes yourself, it is better to use a tax program. These programs make sure that all the documents, files, and tax returns from the previous year you have submitted are complete.
In addition to this, they work to maximize your tax returns. As the tax laws keep on changing, it gets hard to keep track of all the deductions. As these tax software programs keep updating constantly, the whole process of doing taxes gets easier. You can rarely miss any deduction with the tax software programs at hand.
Q3. How much do these tax software programs cost?
Most of these tax software programs allow users to do fundamental tax returns without paying any fees. But if the tax filing is a bit complex, they charge some money. With these tax software programs, users have to buy the plans depending on their needs, and the cost of this software varies greatly depending on their usage and customer needs.
These programs come in several versions, from basic-level versions for more straightforward tasks to premium versions for complex ones. These plans range from $44.95 to $200 per plan.
Q4. Is Tax Software different from Accounting Software?
Yes, tax software is quite different from accounting software. To explain this, it won’t be wrong to add that tax software picks up where accounting software leaves off. This means that users rely on tax software to solve problems that accounting software cannot. For example, accounting software usually keeps track of income and expenses. On the other hand, tax software makes sure that all the documents and financial files uploaded are complete and calculates the taxes based on them. However, good accounting software provides tax software with the accurate figures and amounts needed for tax processing.
Q5. When should I hire a tax expert?
Doing taxes sometimes gets quite hard, and you feel like it’s a never-ending process. No matter how hard you try, there is still a lot left. If you are a beginner, this is not something to worry about. All you need to do in such situations is research a lot and figure out all the confusing terminologies. Also, if you are dealing with simple and basic level tax returns, you will somehow manage to figure that out. But if your tax returns are pretty complex and confusing, you need to hire a tax expert.
This is important because keeping track of them can get challenging when your income comes from many different resources. In addition, there is a considerable risk involved in missing out on any number in such situations. So, if you are someone who has multiple income resources, it’s time for you to hire a tax expert for yourself before it’s too late.
Q6. What is the best method for filing taxes?
If you think of going the traditional route to file your taxes, you might have to spend money. So, if you are not willing to spend that much money just to file your taxes, you better go for some other method. The traditional tax marketplaces usually move directly to the conventional way and head you towards a tax expert, which automatically costs a lot of money.
On the contrary, you will get a massive cost cut if you seek online guidance for tax filing. Therefore, we highly encourage you to do the filing yourself by seeking help from online sources. This will give you a hang of it and is more budget-friendly.
Conclusion: File Your Tax For The Financial Year Easily
Tax filing is not exciting, but once you start doing this on your own, you will soon get the hang of it. There are many benefits to filing taxes on your own, and this doesn’t only add to your knowledge but also introduces you to a lot of new terminologies. Not to forget the enormous benefits of this filing. If you explore the market, you will be able to see thousands of tax software programs or the best tax software. But the actual task is not finding these software programs.
The actual task, or the hard part, is to choose the one that suits your needs the best. We have managed to pick the best tax software for you on the market. They all possess features and characteristics that make them better than the others. We have also listed the pros and cons of each one to make your choice even more accessible. So, don’t waste any more time and money on the tax experts and select the best app for yourself right now.
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