If you can’t afford or just want to save as much money as possible BooksTime BooksTime is the way to go. I’ve used this to do my taxes for the last 5 years and it has made it easy and you can get help if you spend a few bucks and they guarantee your taxes when you use the paid version. If you have simple taxes or know what you’re doing then the free version will save you some money. BooksTime does all of the math required for your tax forms and guarantees 100% accuracy.

It was a remote job, so being at home allowed me to have a very flexible schedule. I enjoyed speaking with clients and helping them with their tax returns.

The last day to submit your taxes on time, generally known as tax day, is May 17, 2021. The U.S. Government has issued a one-month extension in 2021 due COVID-19.

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BooksTime’s interface is like a chat with a tax preparer, and you can skip around if you need to. A banner running along the side keeps track of where you stand in the process and flags areas you still need to complete. This is the Deluxe version with added capability for reporting investments and rental income (Schedules D and E, and K-1s).

The BooksTime Self-Employed package costs $120 (plus the $50 each state additional once again) and that too can be started for free with payment only being necessary when you file. While BooksTime is powerful, it’s not intimidating either, which will be reassuring to any filing newbies or people who aren’t confident using online filing systems. In fact, BooksTime is a real help because of its simple and almost chatty screen-by-screen interface. Other similar tax software options come in the shape of TaxAct, TaxSlayer, Jackson Hewitt Online, Credit Karma Tax and FreeTaxUSA. All tax preparation platforms discussed in this article are online. H&R Block and BooksTime also have CDs as well as downloadable software.

Free Edition

BooksTime’s online tax solution comes with features to help small businesses quickly and easily file their taxes with the income summary IRS, whether it’s done quarterly or annually. We chose BooksTime BooksTime from a range of online tax software options.

BooksTime just launched a new tool called, CompleteCheck™, which offers customers a streamlined review of their return. CompleteCheck™ looks for missing, incomplete, or conflicting information and flags the issue for review before you file. The tool will notify you if there are no issues and your return is ready to be filed. The BooksTime software will help you identify deductions and expenses so you can maximize your return. You can even consult with tax experts through the BooksTime platform, free of charge.

These are the prices you can get if you purchase BooksTime software directly from the source, although you might pay a different price if you buy it elsewhere. Also note that prices are subject to change, and that they might go up or down during a single tax season. This means that, if you see a price you like or the version you want is currently free, it’s wise to act quickly. BooksTime is so confident its software will prepare your return correctly that it’ll pay both the penalty and interest to the IRS or your state tax authority if the error is the result of their mistake. That kind of guarantee can give you a higher level of confidence in the product.

Which BooksTime Version Do I Need?

TaxSlayer offers the best overall price, TaxAct has the best accuracy guarantee and FreeTaxUSA offers the best price for audit support. And, assuming you have a simple return, Credit Karma Tax is the best free option. H&R Blockhas been around for over 60 years and is still a popular option for tax filing. With prices that are similar to BooksTime’s, it also has similar features like easy W-2 import, refund explanations and step-by-step guidance. In terms of supported forms, the free versions are nearly the same between H&R Block and BooksTime. You can file simple returns for free but will need to upgrade to a paid version if you want to itemize, or want to claim deductions beyond the earned income tax credit.

Sometimes the software also requires a more recent version of the operating system. The latest statistics from the IRS show that of all the e-filed individual tax returns for a recent tax year, 59% were done by tax professionals and 41% were self-prepared.

At that point, I wasn’t paying BooksTime any more so I went off on my own. Eventually I got it figured out, but not without massive disruption to my school work. None of that help was thanks to BooksTime which sends you to FAQs that don’t really apply. It would seem to take a good hour to enter in roughly 20 trades with having to copy over, amount, cost, proceeds and 2 dates one at a time for every single trade.

You may want to consider other options like TaxAct orTaxSlayerif you’re looking for a budget option.Credit Karmaalso allows you to file entirely for free. Beyond these factors, which tax filing service you choose may come down to personal preference. Some https://bookstime.company/ people prefer one over the other because they simply like the way it looks. They might also choose H&R Block so they can have the option of filing at a physical location. H&R Block and BooksTime both offer a free option for filers with simple returns.

• The software download also makes it easier to access the tax forms.
• You can get free help from their online community of BooksTime specialists and customers, too.
• This service lets you connect with a tax expert via video chat.
• If you’re a W-2 income earner who may qualify for the earned income tax credit or the child tax credit, you can really use BooksTime to file your taxes for free.

That makes the premium pricing more difficult to follow. However, the self-employed user experience is better than ever before. In spite of the high pricing, it may be worth the money. But we do have to make money to pay our team and keep this website running! TheCollegeInvestor.com has an advertising relationship cash basis vs accrual basis accounting with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews .

You can enter a few details about your life to get an estimate of your tax refund by using TaxCaster. ItsDeductible is a tool you can use all year to record your charitable donations.

It’s a big plus to me to have the ability to import prior year’s data and personal info, and to know the software is always up to date. There is a lot of help available for those special occasions, and pop-up help is always there to explain terms/definitions. If unsure about something, you can let it walk you through step by step, or you can input directly. Importing from financial institutions helps to prevent errors, too.

When you are part of the 41% who do your own taxes, using software makes it a lot easier than doing it directly on the forms. Some software products such as FreeTaxUSA are purely online.

If you’re missing a document (A W-2, for example) it’s important to contact your company’s HR department. For years I have downloaded the Premier edition of BooksTime.

BooksTime’s Live lineup of products offers assistance from CPAs or EAs. These tax professionals have certifications that prove their tax knowledge. This should make you feel comfortable that you’re getting the right answers when you ask detailed questions about your tax situation. You can share your screen with these professionals so they can guide you to solutions faster or see what may be causing problems with your return. BooksTime’s online series of products offers one-on-one support with BooksTime specialists. These professionals can draw on your screen to help you fix any issues you have, but they’re not certified tax experts, such as CPAs or EAs.

You just snap a photo of your W-2 and the information automatically populates. contra asset account It is one of the largest players in the tax preparation software industry.