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IS TAX SOFTWARE WORTH IT?

PROS & CONS
TAX SOFTWARE VS. ACCOUNTANT FILING

THINKING ABOUT SELF-FILING YOUR FEDERAL & STATE TAXES THIS YEAR? HERE ARE A FEW THINGS TO CONSIDER!

READY FOR TAX SEASON?

NO MATTER HOW MUCH WE PREPARE, TAX SEASON HAS A HABIT OF SNEAKING UP ON US. WITH THIS COMES A SLEW OF TYPICAL QUESTIONS LIKE:

DO I HAVE MY W-2?

DO I HAVE ALL MY DOCUMENTS?

WHAT CAN I WRITE OFF THIS YEAR?

ARE MY RECORDS UP TO DATE?

WILL I END UP OWING MONEY?

AM I FULLY PREPARED?

HOW SHOULD I FILE?

 

PART OF OUR MISSION AT MAXIMIZE MINIMALISM IS TO HELP YOU GET THE MOST OUT OF YOUR MONEY. THE ACCURACY AND COMPLETENESS OF YOUR YEAR-END TAX FILING IS WHAT DETERMINES HOW MUCH MONEY YOU'RE ENTITLED TO GET BACK - WHICH IS OFTEN HUNDREDS OR EVEN THOUSANDS OF DOLLARS. EVEN IF YOU END UP OWING MONEY, IT'S CRUCIAL TO MAKE SURE YOUR FILING IS CORRECT AND YOUR PAYMENT IS RIGHT, BOTH FOR YOUR SAKE AND LEGAL REPUTATION!

IN SHORT, IT'S IN OUR BEST INTEREST TO FILE OUR TAXES IN A TIMELY, ACCURATE MANNER! YOUR WALLET WILL THANK YOU.

TAX SOFTWARE VS. ACCOUNTANT:
WHICH SHOULD I USE?

HERE ARE SOME THINGS TO CONSIDER!

PROS VS. CONS:
FILING TAXES WITH AN ACCOUNTANT

"IS IT WORTH GOING TO AN ACCOUNTANT FOR TAXES?"

BENEFITS OF FILING TAXES WITH AN ACCOUNTANT

Accountants are accountants for a reason – they have an expert-level understanding of how taxes work. This includes government requirements, write-offs, business regulations, home expenses, investments & more. A C.P.A. knows these rules better than almost anyone else. 

When hiring an accountant to file your taxes, you’re essentially paying them to do the work for you. This, of course, is a convenience! Paying an accountant to do your taxes frees up your own time and saves you effort, particularly when it comes to filling out IRS forms. 

“What happens if my accountant makes a mistake on my taxes?“. Assuming you’ve provided them with accurate information and documentation, it is the responsibility of your accountant to file your return in accordance with all requirements. If your accountant makes a mistake, you should not have to pay any IRS penalties or fees for the mistake, at a minimum. For additional information, check out Investopedia’s detailed guide on this matter. 

DRAWBACKS OF FILING TAXES WITH AN ACCOUNTANT

While accountants will do the bulk of the filing work for you, you’ll still need to make an appointment and be present while they review your documents and fill out forms. This usually takes several hours. Even if you aren’t present, they’ll most likely contact you several times with questions. 

In order for the filing process to go smoothly with your accountant, you’ll need to be prepared before you meet with them. This means having all documents and information organized and ready to go before they can begin. If not, you (and your accountant) will go crazy running to and fro getting whatever’s needed to complete your filing correctly as they complete bits and pieces at a time. 

“You get what you pay for” goes both ways – we also pay for what we get! Accountants aren’t cheap – we must pay a sizable fee to get their expert services. This is particularly true when you have a more complicated return – fees stack up quickly as your return gets more complex.

PROS VS. CONS:
FILING TAXES USING TAX SOFTWARE

"IS TAX SOFTWARE WORTH IT?"

BENEFITS OF FILING TAXES USING TAX SOFTWARE

When filing your taxes with tax software, you can start/stop any time at your convenience. You can also jump around from section to section as you gather information and documents, which gives you a lot more flexibility in terms of the actual work required to fill out forms and file. 

Ever dream of filing your taxes in your pajamas? How about from your bed? Tax software makes these dreams possible. When using tax software, you can work of your filing from anywhere. No need to make appointments or sit at an accountant’s desk. 

With tax software, you’re entering data and filling out forms yourself. With this comes a cost savings to you – no more paying for accountant fees or their overhead expenses. If you don’t mind doing some legwork yourself, this savings goes directly to your bottom line in the form of more money back in your pocket when your return is completed. 

DRAWBACKS OF FILING TAXES USING TAX SOFTWARE

While tax software saves you money in the majority of cases, you in turn sacrifice your access to an expert accountant. This takes away your chance to ask them questions and get vital information about write-offs and other potential cost savings in your return.

The good news? This is not always the case! H&R Block’s downloadable tax software, for instance, provides in-product live chat with experts from the comfort of your home, at the time that works best for you. Ask questions and get essential feedback from anywhere!

When self-filing your own taxes, you take on all responsibility for the accuracy and completeness of your return. Should the IRS discover an error or underpayment, they will hold you responsible for the shortage, even a couple of years after the fact. You will need to pay fees and fines in addition to any shortage in what you owe. While representing yourself to the IRS can be intimidating, some tax softwares will act as an intermediary between the IRS and you. If you file using H&R Block’s software, they will act as your representative!
If you’re only filing a return for a single, standard income, the process of completing tax forms is fairly straightforward. However, returns can get complicated quickly when you consider spouses, children, homes, multiple incomes, self-employment, business expenses, investments and other factors. That’s a lot of info! The complexity – or simplicity – of filing taxes under these circumstances largely depends on the tax software you use. H&R Block’s tax software provides straightforward and neatly organized categories that guide you through accounting for these factors in a step-by-step manner. No guesswork required!

H&R BLOCKS TAX SOFTWARE:
THE BEST OF BOTH WORLDS

COMBINE THE ADVANTAGES OF AN ACCOUNTANT WITH THE CONVENIENCE OF TAX SOFTWARE!

COMPARE H&R BLOCK TAX SOFTWARE PLANS

SAVE 35% ON DOWNLOADABLE TAX SOFTWARE!
FOR A LIMITED TIME ONLY.


H&R BLOCK OFFERS 60 YEARS OF PERSONAL TAX EXPERTISE

PACKAGES AVAILABLE FOR SINGLE FILING, HOME OWNERS, BUSINESS OWNERS, SELF-EMPLOYED, LANDLORDS & MORE

BENEFITS INCLUDE:

  • TONS OF BUILT-IN FEATURES
  • IN-PRODUCT SUPPORT CHAT
  • IRS AUDIT REPRESENTATION
  • CHAT WITH TAX EXPERTS
  • STEP-BY-STEP GUIDANCE
  • IMPORT LAST YEAR'S INFO. (ANY PREP.)
  • SECURE DATA & IDENTITY PROTECTION

MAXIMIZE MINIMALISM IS SUPPORTED THROUGH OUR PARTICIPATION IN SEVERAL AFFILIATE PROGRAMS. THIS INCLUDES THE AMAZON SERVICES LLC ASSOCIATES PROGRAM, ALONG WITH CLICKBANK, CJ, ASCEND & SEVERAL AD AGENCIES.  THROUGH THESE PROGRAMS, WE COLLECT FEES WHEN WE LINK TO PRODUCTS, SERVICES AND AFFILIATED WEBSITES. THE PRICE YOU PAY DOES NOT CHANGE IF BOUGHT THROUGH A LINK ON THIS WEBSITE. ALL PRODUCTS AND SERVICES RECOMMENDED WILL BE DIRECTLY RELATED TO THE CONTENT ON WHICH THIS SITE IS BASED. COMPENSATION THROUGH THESE PROGRAMS HELPS KEEP THIS WEBSITE ALIVE AND CREATE MORE CONTENT IN THE FUTURE! 

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