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Taxes can be a daunting task for many people, especially if you are filing for the first time. Fortunately, tax preparation software solutions can make the process easier and more efficient. TaxAct is one such software that has been gaining popularity among taxpayers for its user-friendly interface, affordable pricing, and comprehensive features.
In this TaxAct Review 2023, we shall take a closer look at the platform’s functionality, discussing its features, pros, cons, and everything else you need to know to decide if it’s the right fit for your tax preparation needs. From filing federal and state taxes to optimizing deductions and credits, we’ll cover it all, giving you a clear understanding of what TaxAct has to offer. So, if you’re looking to streamline your tax filing experience and potentially save money, keep reading to learn more about TaxAct.
TaxAct is a tax preparation software that helps individuals and businesses prepare and file their federal and state taxes. It offers a range of features, including tax calculators, guidance on tax deductions and credits, and e-filing options for both federal and state tax returns.
TaxAct also provides audit support and access to tax professionals for assistance with tax-related questions or issues. The software is available in several versions, from free to advanced ones, which offer additional features and support for more complex tax situations. Overall, TaxAct aims to streamline the tax preparation process and make it more accessible and affordable for taxpayers.
Read our other review post on turbotax reviews to know about how nordpass is different from tax act software.
Xpert Assist Add-On
Xpert Full Service Add-On
Additional State Fee
$34.95 if opting for the standard plan. Free with Xpert Full Service.
$44.95 per state
$44.95 per state
$44.95 per state
TaxAct’s Free Edition is intended for those with simple tax returns, including Form 1040EZ and Form 1040A. The Free Edition includes step-by-step guidance and the ability to import prior year tax returns, as well as free e-filing for federal and state returns. However, the Free Edition does not support itemized deductions, so users with more complex tax situations will need to upgrade to a higher plan.
Pricing: $0 federal, $0 state (for simple tax returns)
The Deluxe Edition is designed for those with more complex tax situations and includes support for itemized deductions, as well as additional guidance for investments and rental properties. The Deluxe Edition also includes free phone support, error checking, and access to tax professionals if needed. The Deluxe Edition is priced competitively compared to other tax preparation software and offers good value for users with more advanced tax needs.
Pricing: $54.95 federal + $44.95 per state filed (for more complex tax situations)
The Premier Edition is designed for those with investments or rental properties and includes support for Schedule D and Schedule E. The Premier Edition also offers additional guidance on rental property income and expenses, as well as other investment income. The Premier Edition is priced slightly higher than the Deluxe Edition but offers more features and support for users with complex investment situations.
Pricing: $79.95 federal + $44.95 per state (for investments and rental properties)
The Self-Employed Edition is designed for freelancers and small business owners and includes support for Schedule C, as well as additional guidance on expenses and deductions for self-employed individuals. The Self-Employed Edition also includes a mileage tracker and the ability to import income and expenses from popular accounting software like QuickBooks. The Self-Employed Edition is priced higher than the other plans but offers a comprehensive set of features for those with self-employment income.
Pricing: $109.95 federal + $44.95 per state filed (for freelancers and small business owners)
To help users make an informed decision about whether TaxAct is the right software for them, this table provides an overview of its performance ratings across different categories, including ease of use, value for money, features, and customer support, as well as its overall rating on G2.
Ease of Use
A simple and intuitive interface that guides users through the tax preparation process.
Value for Money
Offers good value for money, providing affordable pricing options for different tax filing needs with helpful tools and resources.
TaxAct offers a robust set of features, making it a comprehensive solution for tax preparation.
Provides helpful customer support options, including email, phone, and chat support, to assist users with any questions or issues.
Strong G2 rating, with positive user reviews highlighting its ease of use, affordability, and helpful customer support.
By examining these ratings, users can get a better understanding of the strengths and weaknesses of TaxAct and determine if it meets their tax preparation needs.
TaxAct is a tax preparation software that offers a range of features to help individuals and businesses prepare and file their taxes with ease. Some of the important features of TaxAct include:
All Major IRS Forms & Schedules
Import Competitor’s Returns
Comprehensive Navigational Outline
Phone Support for Tax Topics
Hyperlinked Help in Interview
Searchable Help Database
TaxAct provides users with a simple and intuitive interface that guides them through the tax preparation process. Users are prompted to enter their information in a logical order, with helpful explanations and instructions along the way. The software also provides alerts if some information is missing or incomplete, ensuring that users don’t miss anything important. This feature is particularly helpful for those who may be new to filing taxes or unsure how to navigate the tax preparation process.
TaxAct allows users to import data from a variety of sources, including previous tax returns, W-2 forms, and investment accounts. This feature saves time and reduces the risk of errors during manual data entry. Users can import data from other tax preparation software as well, making it easy to switch to TaxAct from another program. This feature is particularly useful for those who have complex tax returns or multiple sources of income.
TaxAct’s comprehensive error-checking system scans users’ tax returns for common errors and alerts them to any issues that need to be addressed. The system provides suggestions on how to fix errors, ensuring that users can correct any mistakes before filing their returns. This feature helps users avoid costly penalties and can save them time and stress in the long run.
TaxAct offers users access to tax professionals who can answer questions and provide guidance on more complex tax concerns. Users can schedule a call with a tax professional or use the chat function to get help with any questions they may have. This feature is particularly useful for those who have complicated tax returns or need assistance with unusual deductions or credits.
TaxAct offers a range of pricing options to meet different tax filing needs. The Free Edition is available for those with simple tax returns, while the Deluxe Edition offers more advanced features and support for itemized deductions. The Premier Edition includes support for investments and rental properties, while the Self-Employed Edition is designed for freelancers and small business owners. The pricing is affordable compared to other tax preparation software, making TaxAct a good option for those on a budget.
The filing process doesn’t have to be worrisome, especially with TaxAct’s comprehensive tax filing service. Whether you are filing for federal or state taxes, TaxAct has got you covered with its easy-to-use software. You don’t need to be an expert to navigate the process, as the software’s intuitive, step-by-step interface will guide you through every necessary detail. With TaxAct, you can file your taxes with confidence, knowing that you have provided all the necessary information to complete your tax return accurately and efficiently.
Say goodbye to the tedious task of manually entering your financial information. With TaxAct’s data import feature, you can easily and quickly import your financial data from previous tax returns or other software like QuickBooks or Quicken. This feature not only saves time but also reduces the risk of errors caused by manual input. So sit back, relax, and let TaxAct do the heavy lifting for you.
With TaxAct’s itemized deductions feature, users can rest assured that they are not overlooking any deductions. The software provides users with a comprehensive list of available deductions and guides them through the process of claiming each one. This can be especially helpful for those with complex tax situations, as the software will automatically calculate the deduction amount based on the user’s input. Not only does this feature help users reduce their tax liability, but it also saves them time and stress by ensuring that all deductions are properly claimed.
TaxAct’s tax calculator is a must-have tool for someone who likes to stay ahead of the game when it comes to their finances. This nifty feature takes the guesswork out of tax planning by allowing you to estimate your tax liability at any point during the year. Whether you are trying to figure out how much to save for taxes or want to see how different financial scenarios will impact your tax bill, the tax calculator is an invaluable resource.
Tackling an IRS audit can be a daunting experience for anyone, but with TaxAct’s audit support, users can breathe a sigh of relief. This feature provides users valuable assistance in preparing for the audit and ensures they have the best representation during the audit process. TaxAct’s audit support feature gives users peace of mind, knowing they have the support they need to navigate the complex and often stressful audit process. With the audit support features, users can rest assured that they have a trusted ally in the face of an IRS audit.
Investing can be a great way to build wealth, but it can also be a source of confusion come tax season. Fortunately, TaxAct has got investors covered with its comprehensive investment support features. With the ability to import investment data and detailed guidance on reporting investment income and losses, TaxAct helps investors stay on top of their taxes and ensure they are taking advantage of all available deductions. Whether you are a seasoned investor or just starting out, the software can help you navigate the complexities of reporting investment income and losses on your tax return.
Owning a rental property can be a great investment, but managing the associated taxes can be a real headache. Luckily, TaxAct offers rental property support to make this process as painless as possible. With the ability to import rental income and expenses and guidance on reporting rental income and deductions, users can easily navigate the complexities of rental property taxes. Whether you have one rental property or a whole portfolio, TaxAct has got you covered.
TaxAct provides self-employment support, making the tax filing process a breeze for those who work for themselves. With the ability to import income and expenses, TaxAct guides self-employed individuals on how to report self-employment income and deductions, ensuring accuracy and maximum tax savings. Say goodbye to the stress of tax season, and let TaxAct handle it all for you.
TaxAct is a tax preparation software that offers a user-friendly platform for individuals and businesses to file their tax returns quickly and easily. Here’s a closer look at how TaxAct works:
The first step is to create a TaxAct account, which can be done easily by providing your email address and creating a password. Once you have created an account, you’ll be prompted to choose a pricing plan based on your tax filing needs.
Next, you will need to enter your personal information, including your name, address, Social Security number, and other relevant details. TaxAct uses this information to populate your tax forms and ensure that you file accurately.
TaxAct makes it easy to import your tax documents from a variety of sources, including previous tax returns, W-2s, 1099s, and other tax forms. You can also upload your documents directly onto TaxAct or take a picture of your tax documents using your smartphone.
TaxAct uses a series of questions to guide you through the tax preparation process, ensuring you fill out all the necessary forms and provide accurate information. These questions cover a range of topics, including income, deductions, and credits.
Once you have entered all of your tax information and answered all of the relevant tax questions, TaxAct will review your return for errors and discrepancies. If everything looks good, you can then file your return electronically or print out a paper copy to mail in.
If you’re entitled to a refund, TaxAct makes it easy to track your refund status and get your money quickly. You can choose to have your refund deposited directly into your bank account or receive a check in the mail.
TaxAct also offers a range of additional features and services to help users make the most of their tax preparation experience. These include helpful tax calculators, a tax refund tracker, and access to tax professionals if you need additional support or guidance.
Finally, whether you are a first-time filer or an experienced tax professional, TaxAct offers a comprehensive set of features and tools to help you file your taxes accurately and efficiently.
TaxAct provides customer support through various channels, including a dedicated support phone number, email support, and an extensive knowledge base on its website.
Support Type Via Email Via Phone Phone Availability Tax Help email@example.com (319) 373-3600 Mid-April to Mid-Jan: M–F 8 a.m. to 5 p.m. CST; Extended Hours Mid-Jan to Mid-April for Tax season M–F 8 a.m. to 8 p.m. CST, Saturday 9 a.m. to 5 p.m. CST, Sunday 10 a.m. to 5 p.m. CST General Customer Support firstname.lastname@example.org (319) 373-3600 Mid-April to Mid-Jan: M–F 8 a.m. to 5 p.m. CST; Mid-January to April for tax season: M–F 8 a.m. to 8 p.m. CST, Saturday 9 a.m. to 5 p.m. CST, and Sunday 10 a.m. to 5 p.m. CST
Mid-April to Mid-Jan: M–F 8 a.m. to 5 p.m. CST; Extended Hours Mid-Jan to Mid-April for Tax season M–F 8 a.m. to 8 p.m. CST, Saturday 9 a.m. to 5 p.m. CST, Sunday 10 a.m. to 5 p.m. CST
General Customer Support
Mid-April to Mid-Jan: M–F 8 a.m. to 5 p.m. CST; Mid-January to April for tax season: M–F 8 a.m. to 8 p.m. CST, Saturday 9 a.m. to 5 p.m. CST, and Sunday 10 a.m. to 5 p.m. CST
Moreover, the TaxAct website offers a range of resources, including user guides, video tutorials, and a community forum where users can connect with each other and share tips and advice.
TaxAct is an excellent tax preparation software for anyone who needs to file their taxes, whether individuals, small business owners, or investors. The software is especially useful for those who have relatively simple tax returns, as the software is straightforward and easy to use. However, TaxAct is also robust enough to handle more complex tax situations, such as rental property income, self-employment income, and investment income.
If you are someone who prefers to do their taxes on their own rather than paying a professional tax preparer, TaxAct is a great option. The software is user-friendly and offers step-by-step guidance to help you file your taxes accurately and efficiently.
TaxAct’s support for self-employment income and deductions makes it an excellent choice for your tax preparation needs. Additionally, if you have rental property income, TaxAct offers support for rental property owners, allowing you to easily report rental income and deductions.
Investors will also find TaxAct helpful, with its support for investment income and losses. The software allows you to import investment data and provides guidance on how to report investment income accurately.
Overall, TaxAct is an excellent choice for anyone looking for reliable and easy-to-use tax preparation software. Whether you have a basic tax situation or a more complex one, TaxAct can help you prepare and file your taxes quickly and accurately.
While TaxAct is an excellent tax filing software, there are a few situations where it may not be the best fit. Here are a few scenarios where TaxAct may not be the ideal choice:
If you have a complex tax situation, such as owning a business or rental property, you may need more advanced best tax software or professional help to ensure all of your deductions and credits are accounted for correctly.
While TaxAct is affordable compared to some other tax software, it may still be too costly for individuals on a very tight budget who can’t afford to spend any money on tax preparation.
If you are short on time and need to file your taxes quickly, you may be better off using tax software that offers more hand-holding and support, such as TurboTax or H&R Block.
If you prefer having someone assist you in person with your taxes, TaxAct may not be the best option, as it is an online-only software. Instead, consider using a tax preparation service like Jackson Hewitt or Liberty Tax.
It is important to note that these scenarios are not hard and fast rules, and some individuals may still find TaxAct a good fit for their needs. Ultimately, it is up to each person to weigh their options and choose the tax preparation method that works best for them.
Based on past performance and user reviews, TaxAct has a reputation for providing a user-friendly and comprehensive tax filing service. The software offers step-by-step guidance, import features for previous tax returns and financial data, itemized deduction support, investment and rental property support, self-employment support, and audit support.
While TaxAct may not be suitable for everyone, it can be a helpful tool for individuals with straightforward tax situations, as well as those with more complex needs. It is important to note that tax laws and regulations can change each year, and it’s always best to consult a tax professional for personalized advice.
However, it is evident that TaxAct is an excellent software that helps not just individuals, but also businesses (small, medium, and large) manage their taxes and simplify their tax filing process without hassles.
TaxAct provides support for self-employed individuals to make tax filing easier. Here are some ways that TaxAct handles self-employment:
Self-employed individuals can import their income and expenses directly into TaxAct from financial software such as QuickBooks or Quicken.
TaxAct supports tax deductions for self-employed individuals, such as home office deductions, vehicle expenses, and business equipment deductions.
TaxAct provides guidance on making estimated tax payments, which are required for self-employed people who expect to owe more than $1,000 in taxes.
TaxAct calculates self-employment tax, which is the Social Security and Medicare tax that self-employed individuals are responsible for paying.
TaxAct provides guidance on retirement contributions, which can reduce taxable income for self-employed individuals.
In simple words, TaxAct simplifies the tax filing process for self-employed individuals by providing guidance on tax deductions, estimated tax payments, self-employment tax, and retirement contributions. By using TaxAct, self-employed individuals can save time and ensure that they are accurately reporting their income and expenses to the IRS.
Yes, it is possible to file taxes using the TaxAct app on a mobile device. The TaxAct app is available on both iOS and Android devices and can be downloaded for free from the App Store or Google Play.
With the TaxAct app, users can file federal and state taxes, access previous tax returns, and import data from other financial software. The app also includes a tax calculator to help users estimate their tax liability.
To file taxes using the TaxAct app, users will need to create an account and follow the step-by-step instructions provided in the app. The app is designed to be user-friendly and easy to navigate, making it a convenient option for those who prefer to file taxes on their mobile devices.
However, it is worth noting that some users may prefer to file taxes using a desktop or laptop computer, as it may offer a larger screen and easier navigation. Additionally, users who have more complex tax situations, such as those who are self-employed or have rental properties, may find it more beneficial to use the desktop version of TaxAct for its more robust features and capabilities.
FreeTaxUSA and TaxSlayer are two popular alternatives to TaxAct for tax preparation and filing.
Free Tier Price
Deluxe Tier Price
Premier Tier Price
Self-Employed Tier Price
Student Loan Interest
Import Last Year's Taxes
Snap Pic of W2
$14.95 per state
Earned Income Tax Credit
It offers a completely free federal tax filing option, as well as low-cost state filing options. The software is user-friendly and includes support for a variety of tax situations, including self-employment income and rental property income. FreeTaxUSA also offers audit assistance and priority support for its paid users.
It offers a variety of pricing plans, including a free option for simple tax returns. The software includes support for a range of tax situations, including self-employment income, rental property income, and investment income. TaxSlayer also offers a range of tools and resources to help users maximize their tax deductions and credits, such as a tax refund calculator and a deduction finder tool.
FreeTaxUSA and TaxSlayer are reputable and reliable tax preparation software options and can be good alternatives to TaxAct, depending on individual needs and preferences.
TaxAct is a comprehensive and user-friendly tax filing software that offers a range of features to help users prepare and file their taxes accurately and efficiently. Its step-by-step interface, tax calculator, and import/export options make it easy for users to navigate the tax filing process, while its support for itemized deductions, investments, rental properties, and self-employment makes it a great choice for a wide range of taxpayers.
Overall, TaxAct has received positive reviews for its ease of use, affordability, and accuracy. However, some users have reported issues with customer support and occasional glitches in the software. As with any tax filing software, it is important for users to review their returns carefully and consult with a tax professional if necessary.
If TaxAct does not meet your specific tax filing needs, there are several alternatives to consider, such as FreeTaxUSA and TaxSlayer. These software options offer similar features and pricing structures, so it is important to compare them and choose the one that best fits your needs.
TaxAct is generally considered safe to use. The company uses industry-standard encryption to protect users’ personal and financial information and has robust security measures in place to safeguard its systems from unauthorized access or data breaches. However, it is always a good idea to be cautious when entering sensitive information online and to make sure you are using a secure, trusted internet connection when accessing TaxAct or any other financial or tax-related websites.
TaxAct is generally considered reliable for tax preparation and filing. The company has been in business for over 20 years and has a strong reputation for providing accurate and reliable tax software and services. It offers a range of products and services to meet the needs of individual filers, small businesses, and tax professionals, and its software is regularly updated to reflect changes in tax laws and regulations. Additionally, TaxAct provides customer support and resources to help users navigate the tax preparation and filing process.
TaxAct charges a fee for state tax returns, although the fee amount varies depending on the product and services selected. Some TaxAct products include one free state return, while others require an additional fee for state returns. To determine the cost of a state return, users should review the pricing and product options on the TaxAct website or within the software. However, it is worth noting that TaxAct’s state return fees are generally lower than many other tax preparation software providers.
To use TaxAct Online, follow these general steps:
Create an account on the TaxAct website.
Select the product that best fits your tax situation.
Enter your personal information and income details.
Answer the prompts and questions presented by the software to determine deductions and credits.
Review and confirm your information, and then file your federal and state tax returns electronically.
TaxAct offers various features and resources to help users navigate the tax preparation process, including a user-friendly interface, access to tax professionals, and a knowledge base with answers to frequently asked questions.
Yes, TaxAct allows users to import their W-2 and 1099 forms directly into the software, which can save time and reduce the risk of errors when entering information manually. To import these forms, users can either upload a digital copy of the form or use TaxAct’s secure import feature to retrieve the information directly from their employer or financial institution. TaxAct also supports the import of other tax documents, such as previous year’s tax returns, which can further streamline the tax preparation process.
Yes, TaxAct offers a mobile app for both iOS and Android devices. The app allows users to prepare and file their tax returns directly from their smartphone or tablet, making it convenient and accessible for those who prefer to use mobile devices. The app also includes features such as W-2 photo capture, secure document storage, and tax calculators to help users navigate the tax preparation process. However, not all TaxAct products and services are available through the mobile app, so users should review the product options and limitations before using the app to file their taxes.
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