Photograph Credit: TurboTax
Passing a costumed Statue of Liberty lady this afternoon as she waved and jumped around attracting attention, I scanned the vacant parking lot. Her business was slow today.
I know some people prefer to sit down with an individual to file their taxes. If you are one of those, then this series is not for you.
In using time wisely, this series on tax filing options is centered on online versions designed to get your taxes prepared and filed in one online visit.
Choosing to review these options, I started with TaxACT, moved to H&R Block, and will conclude with TurboTax.
Military Edition – E1-E5 – Cost $0
This military edition is the only FREE 2013 income tax filing option. Active military personnel and reservists ranked E-1 to E-5 can file a FREE federal and FREE state return with FREE preparations and e-filings.
Free Option – Cost $0
The free option is suited for first-time filers and students and includes preparation for simple federal tax returns and e-filing. Tax help is available via live chat, and each state filing incurs a $29.99 fee.
Military Edition – E6+ and officer – Cost $44.49
This military option assists with all tax preparation and e-filing for active military personnel. Each state filing is an additional $29.99 fee.
Deluxe Option – Cost $49.99
Designed for homeowners, the deluxe option includes everything from the free option plus mortgage interest, charitable donation deductions, and e-filing. State filing costs an additional $39.99 per state.
Premier Option – Cost $74.99
For rental property owners and investors who sold stock, bonds, or mutual funds, this premier package contains everything in the deluxe option plus gives guidance on investment deductions. State filing is $39.99 per state.
Home and Business – Cost $99.99
Created for business owners, this option includes everything from the premier package plus maximizes business deductions (Schedule C). State filing costs $39.99 per state.
Since I have to file Schedule C for Using Time Wisely, I would have had to pay $139.98 to file our taxes with TurboTax. Yikes!
Though this price might be reasonable for the services provided, I am truly grateful for TaxACT. Paying $17.99 seems more than reasonable for their services as we continuing stretching our dollars.
If you are still considering your 2013 income tax filing options, then I hope that you have found some answers through this short series. Though TaxACT works best for my family, you might find another resource more beneficial – like the TurboTax military edition.
Whatever your choice, keep a close watch on your calendar and file your taxes before the April 15, 2014 deadline. Happy filing!
Question: What is your favorite option for filing your taxes?