![]() Good news: TaxAct gives you quality state and federal tax preparation without unnecessary frills. It’s frustrating paying for the highest package just because you need one form, but TaxAct’s lower fees and additional features make up for that. Like all other tax companies, self-employed people are going to pay the most. TaxAct also offers year-round planning, so you can be prepared for the next tax season. Self-Employed+: Schedules C and F are available for self-employment and farm income. ![]() You can also report income from rental properties, interest, dividends, and capital gains. Premier+: You can utilize screen-share functionality for support.Deluxe+: Schedules 1-6 (which contain most of the information that used to be on the bigger 1040) are available, and you can itemize deductions.You’ll also be able to import your previous year’s taxes from TaxAct and get help from phone specialists. Basic+: If you have dependents or college expenses, you can claim them.Free: You’ll get the 1040 and can claim both wage income and retirement income.Do you get any value for the higher prices you’re paying, and what do you get by paying these fees? Here are just a few highlights from each package: Nothing makes me cringe more than seeing a fee increase. You’ll get $20, and they’ll get 20% off their TaxAct fees for their federal return. If you’re worried about fees, you can refer a friend to use TaxAct. Having the highest tier below $100 for federal returns sets it apart from other fee structures.Īs for self-employed individuals, you can file a federal and state return for under $150. If your adjusted gross income is below $55,000 ($65,000 if you’re active-duty military) and you are under age 56, you likely qualify to file for free regardless of which state you live in.įor those who can’t file for free, TaxAct offers fair prices. ![]() Thankfully, TaxAct has several options for your budget.įirst, here’s your friendly reminder to check the IRS Free File website to see if you can use TaxAct for free. Well, that’s how all DIY tax preparation should be, but it isn’t the case for all the companies out there. It’s not as nice as having a CPA do your taxes, but you’re not paying those high fees in the process. Time to get down and dirty with everyone’s favorite topic: fees.ĭIY by definition means you do it yourself. So TaxAct claims to be “the best deal in tax.” Are they really? Let’s look at their fees to find out. This makes them no better or worse than other software in terms of guarantees. These guarantees are consistent with TaxAct’s competitors. The only catch is you have to notify them by snail mail within 30 days of purchase. If you purchased their downloadable software, you get your money back.
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