Filing your taxes seems like it should be easy — a percentage of what you earn goes to cover government expenses. However, with credits, deductions, different tax brackets and a host of other things, determining what your taxable income actually is can be tricky. To make things even harder, the tax laws that you use to calculate what you owe constantly change. This year, as the economy continues to emerge from the pandemic, there are several significant changes. Having the right tax software to navigate these new laws will give you what you need to file with confidence.
According to the Internal Revenue Service, some of the key changes to be aware of this year are:
While everyone will have different reasons for switching to tax software, some of the biggest benefits are:
If your taxes are complicated because you are self-employed, a freelancer, an independent contractor, are part of the gig economy or you own a rental property, this is the best option for you.
Sold by H&R Block
For the average homeowner who has investments, this option helps you understand how to maximize your deductions. You can get it with or without a state tax option.
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When your taxes aren't very complicated, you don't want to spend a lot of money on software with all the bells and whistles. This basic offering from H&R Block is user-friendly and best for the individual looking for a little help and reassurance when filing a simple federal tax return.
Sold by H&R Block
If you own a business, you have challenges that other tax filers do not encounter. According to H&R Block, this option is specifically designed so a business owner can file their "federal, state and business taxes easily, accurately and on time."
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For individuals who want to file online, this product from H&R Block has four tiers: Free, Deluxe, Premium and Self-Employed. Choose the option that's best for you and get started immediately.
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Allen Foster writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
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