Look, hiring a tax professional is averaging $225 per return,
and if you hire a tax accountant, the average jumps to $450 per return. Look,
I don't know about you, but all of these tax ads going across the Superbowl,
multiple different TV programs on a daily basis, social media site, billboards,
flyers. I have never been so confused in my life. Look,
where should I go to get them done? Who is best? What makes them the best?
What does it cost? In this video,
I will show you my Top 6 best tax software companies to help you file your taxes
this year. So you can not only save yourself some money,
but also identify the best tax software to address your specific needs so the
IRS doesn't come knocking on your door. And if you stay to the end,
I will show you how to do them for free. Stay tuned
What's going on fam, Justin Houser here and welcome to the Justin....
Justin Houser here and welcome to the Justin Houser Showwww.
Where I go over vital information only 5 minutes on how to make you financially
smart and rich. Feel free to check the description below for show notes,
links to recommended products and anything that I might've forgot to mention in
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So let's get into what is the best tax software of 2020?
Taxes are already confusing enough without the added stress that comes with the,
what paperwork do I need?
Should I do a standard deduction or itemized deduction?
Should I do married filing jointly or separately? Can,
this isn't even counting the 15 gazillion different tax companies out there
spending tens of millions of dollars every single year on advertisement.
So what I did for you from the past 13 years of me doing taxes,
both as an individual,
a family and as a business is complete a list of the top six best tax software
programs that I believe is the best to the best overall tax preparation software
of 2020 goes to Intuit turbo tax,
TurboTax is the most popular name and is also the number one bestseller in tax
preparation software.
And it's the best for a reason and they charge for this unless you qualify for a
free return, which is usually based on your income. So you might wonder,
do I qualify for this free tax return of turbo tax or any of the software that
I'm about to mention in this video to find out,
wait until the end of the video and I'll show you exactly if you qualify.
So why is TurboTax number one on my list?
The first reason is they are the leaders in tax software.
They've had multiple of their products ranked number one in this category
consistently and their software is always updating the newest tax laws and
innovative technology. The second reason is there 100% guarantee?
They guarantee the calculations are 100% correct.
The third reason is the ease of use.
It is extremely user friendly in all regards from the tax software to the
website to the customer service. In fact,
they are rated a 4.5 out of five stars by over 104,000 reviewers and the fourth
reason why I like TurboTax is their live CPAs.
TurboTax is added live CPAs and EAs.
With this new feature called TurboTax live.
You can now have your tax return reviewed live and also your questions answered
on the spot for a fraction of what the costs would be in person.
There are many more reasons why I picked this as number one, including the app,
how you receive your tax return and the speed at receiving the refund.
TurboTax has 4 different options to file online with an added option of a live
CPA for approximately 60 to $80.
The 1st option that they offer is the free edition.
The 2nd option is the deluxe option which costs $60.
The 3rd is premiere which costs $90.
And the 4th is self-employed which costs $120 please keep in mind that this does
not include the state fees if applicable in a very close number two for the best
tax software of 2020 goes to H&R Block.
H&R Block basically does everything that TurboTax does but is usually a little
cheaper.
The free version of H&R Block can be used for a variety of situations where
TurboTax can not such as families when you're dealing with tile and independent
care expenses, student loan interest deductions,
tuition and fee statements and unemployment income.
H&R Block also offers roughly 47 forms versus the 23 forms that TurboTax have.
When you're dealing with the free version of each.
Some additional pros of using H&R Block is its app.
Where you can basically snap a picture of your W2 and upload it.
You can also upload previous returns from other companies,
free step by step guidance software,
100% accuracy guarantee up to $6,000 and also what I think is really cool,
real time refund results.
H&R Block has 4 different options to file online that include number one:
free online and yes, you guessed it, $0 $0.
Deluxe online = $29 ,Premium online = $49,
and Self-employed online = $79.
Please keep in mind that this does not include the state fees, if applicable.
And what sets them apart is their onsite tax preparation professionals.
Although this video is about doing your taxes online,
if for some reason you prefer to do it in person,
they have thousands of offices scattered across America to get them done.
And the best free tax software program for 2020 goes to CreditKarma.
CreditKarma was actually just bought out by Intuit TurboTax for $7.1
billion.
This acquisition will give TurboTax an even bigger audience to further its
business. This might be a surprise,
but CreditKarma actually does more than just offer key services for free such as
credit checks, which used to be a paid product until they introduced it,
and now everybody is following suit.
They also offer other financial services to their customers in the form of
credit cards and also loans from their verified partners.
CreditKarma has been around since 2007 but their tax prep service just started
in 2016 but get this both state and federal tax returns are 100% free.
Even if you have deductions or credits, some restrictions do apply,
so make sure you check the fine print on our website.
Credit karma is also not limited to just simple returns.
It can also be for more complicated returns as well.
Some additional benefits to consider in choosing credit karma is their smart
file option,
which includes a snap and upload option for your W2 and audit defense where it
checks for errors and protects you if the IRS chooses to audit you 24/7 live
chat, and a max refund guarantee. Hey, if you're getting value in this video,
can you do me a favor and SMASH that like button and leave a comment below
letting me know, Which software you are currently using to do your taxes?
Bargain wise, the best tax software program of 2020 goes to TaxAct.
Software wise, they're close to TurboTax and H&R Block,
but those 2 companies control too much of the market.
So how does TaxAct compete? Price!
If you're doing a more complex tax return or if you're doing taxes for business,
consider TaxAct.
With the average price to file for businesses being well over $129 online before
taxes; get it before you pay taxes on doing taxes?
They're also known for the ease of use.
While it might not be as flashy as their competitors,
it is really easy to just skip around.
They also introduce a new feature called life events,
which zeros in on your potential changes in your tax situation from the previous
year to help ensure its accuracy. TaxAct also has live support,
a $100,000 accuracy guarantee, a maximum refund guarantee,
andAnd a satisfaction guarantee where you can stop using the product prior to
printing or filing your taxes and get refunded to fees that you've already paid
to them as applicable.
TaxAct has 4 different options when filing out your tax return.
The first one is the free edition and yes again it costs $0 million.
The second is Deluxe plus which costs $35 the third is Premier plus which costs
$50 the fourth is Self-employed which costs only $80.
This is why I would recommend them to use it if you are self employed.
Please keep in mind that this does not include the state fees if applicable and
the best simple data entry option.
Tax software program of 2020 goes to Tax Slayer Slayer.
When Tax Slayer was initially started,
it was intended to be used by tax professionals only.
Then in the late 90's it branched out to individuals only and now there are 100%
Tax Slayer has a very unique option when doing your taxes through them called
the quick file.
If spending potentially hours upon hours upon hours doing your taxes make you
weak in the knees...get it, It was a joke?
And this works by the user typing in keywords by selecting a whole bunch of
different links when inputting the different types of deductions.
Searching for IRS forms,
calculations and communication links that allow you to prepare an e-file quickly
with IRS Tax Slayer also has a live air checker when doing your taxes guarantees
the largest tax return possible and offers free email and phone support.
Tax Slayer has 4 different options when filing out your tax return.
The 1st is Simply free. Number 2 is Classic which costs $17.
The 3rd is premium which costs $37.
And the 4th is Self-employed which only cost $47 please keep in mind that this
does not include the state fees if applicable and the best tax software program
2020 for savvy tax filers goes to Liberty Tax.
Just like H&R Block, Liberty Tax has over 3,000 offices;
if you want in-person help. But where they shine is their online filing.
If you've been doing taxes for a while,
you might want to consider using Liberty Tax.
Liberty Tax lets a person decide the aspects of a return that you want to work
on when you want to work on them.
It acts as a so-called assistant by showing you recommendations on where to
improve and also explains in detail the tax process and the forms associated
with your return.
The assistant will also show you the chance of you getting audited with a
certain inputs that you're doing inside the software.
Liberty tax also has several pros which include a file fast option where you can
finish your taxes in under 15 minutes, 100% accuracy guarantee,
and a 360 support feature which provides you a multi-channel support with email,
chat, social media, and it in-person help.
Liberty Tax has 3 different options when filing out your tax return.
The 1st is basic which costs $44.95. The 2nd is Deluxe,
which is now discounted from $64.95 to $44.95.
And the 3rd is Premium which is now discounted from $94.95 to again,
$44.95.
Please keep in mind that this does not include the state fees if applicable and
congrats. You made it to the end of the video and as promised,
here's how you can file your taxes online for free. Using the IRS's website.
1st step is to go to irs.gov. The 2nd is to click on the icon,
do your taxes for free. The 3rd, you're going to click on the icon.
It says choose a free file online product. And the 4th from this screen,
you can either scroll down and browse the products yourself or you can simply
click on the icon That says,
"lookup tool." If you decide to click on the lookup tool,
you fill out the required information and then you click submit.
You can now view all the results and choose the best one that is suited for you.
So there it is. Short and simple.
The second video and my new Taxes 101 series called,
What is the best tax software for 2020?" Look, I hope this video has helped you,
and if it did, can you Smash that like button and leave a comment below?
Now it's time for Question of the Day,
"Which is your favorite company mentioned in this video that you're going to use
and why?" Please leave your answer below in the comments as I would love to
connect with you. And remember, GOD sees you and HE loves you!
See on the next video.