![]() You can get a basic idea of your future tax obligation as well as your take-home pay by entering your location, income and filing status. SmartAsset’s Federal Income Tax Calculator can provide important information for your financial plan by estimating how much you will owe in income taxes this year. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. Finding a financial advisor doesn’t have to be hard. If you have questions about your tax situation, a financial advisor with tax expertise can help. TurboTax will file simple federal returns free of charge and provides robust information and support, but more complex returns and levels of support can cost up to $399, plus sliding fees of up to $59 per state tax return. FreeTaxUSA charges nothing to file federal returns and only $15.99 per state return but offers only limited user support and guides. TurboTax and FreeTaxUSA can handle tax return preparation for most taxpayers. Here’s a side-by-side comparison of TurboTax and FreeTaxUSA:įeature TurboTax FreeTaxUSA Federal Tax Return Cost $0 to $399 Free State Tax Filing Cost $0 to $59 $14.99 Support Phone, chat online user group Email only Guarantees Accuracy, maximum refund Accuracy Audit assistance Included in all filing levels Included in the Premium level or for a $6.99 fee User interface Includes lots of guidance but more complex Simple, basic and unadorned Bottom Line For $6.99, there is a Deluxe Add-on that can file amended returns and provide additional support, including audit assistance. Self-Employed is for small business owners, contractors and freelancers.Īudit assistance comes with the Premium filing level. Premium caters to investors, those with rental income and people who sold their home in the previous year. All options are free to use for federal tax returns, but FreeTaxUSA charges a flat $14.99 for state returns.īasic is for less complicated returns but includes all major tax forms.Īdvanced is for homeowners and others with more than the usual number of credits and deductions, as well as anyone with earned income credits. You can even scan a PDF of a previous return to get your data into the program.įreeTaxUSA has four filing options: Basic, Advanced, Premium and Self-Employed. It handles federal and state tax returns and offers features such as automatic transfer of information if you used the program for the previous year’s return. ![]() Its accuracy guarantee includes a promise to pay any penalty and interest resulting from an error.įreeTaxUSA is among the least expensive tools to help you file your taxes. It backs that up with an offer to refund everything you paid to use the service if another return preparer gets you a larger refund. For example, the company guarantees you won’t get a bigger refund anywhere else. TurboTax is one of the more expensive tax return services, but it provides some guarantees that may make it worthwhile. If you are self-employed or own a business, claim a lot of credits or require more than the usual number of tax forms, for instance, you’ll pay more for state returns when you use TurboTax The cost for state returns is based on a sliding scale that varies based on the state return’s complexity. ![]() Live Full Service will do your return for you and costs $209 to $399 for federal returns and $0 to $59 for state returns. It costs between $0 and $209 for federal returns and between $0 and $59 for state returns. The Live Assisted service lets users get questions answered by a tax expert. State returns can be free or up to $54 per return. ![]() The Do-It-Yourself option, which is geared toward filers with simple tax situations, costs anywhere from $0 to $119 for federal tax returns, depending on complexity. TurboTax offers three filing options: Do-It-Yourself, Live Assisted and Live Full Service. If that’s not enough, you can also get help from a live tax expert. The user interface is well-designed and the company provides lots of tools and guides as well as extensive customer support. TurboTax is one of the most popular tax return services and filers can choose from a variety of plans to meet their needs. If you need help at tax time, a financial advisor may be able to assist you with tax return preparation. FreeTaxUSA charges nothing to file federal tax returns but it doesn’t provide users with support by phone or chat and also charges fees for filing state returns. However, it’s significantly more expensive. TurboTax is more full-featured and has lots of built-in guidance, as well as helpful support delivered by phone or chat. TurboTax and FreeTaxUSA are online tax preparation services that can be used by individuals and businesses.
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