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6 Apr 2011 By Bibey 

Tax Preparation Software - Free Or Paid?

27 Jan

A comparison between the features of free and purchasable tax preparation software.

There is no denying that you will want to use tax preparation software if possible. After all, why would you want to pay for something that you can get for free? Unfortunately, this has led many people to use free tax software when it just isn’t a good idea. Remember, free versions do not offer nearly as many features as those that require a fee.

In short, you should only turn to free tax software if you have a simple return. For instance, if you have one W-2 and are using the standard deduction, you should be able to benefit greatly from the use of free 2010 tax software.

On the other hand, if your return is more complicated, such as that of a self-employed professional or somebody with a lot of investments, you should stay away from free versions of software fr tax preparation. You will not have access to all the features that you need to complete and file an accurate and complete tax return.

Don’t know if free tax preparation software is right for you? Why not take a closer look at some of the more popular options from Turbotax and H&R Block. Since you don’t have to pay, you can give free software a test run without any obligation. Soon enough you will know if upgrading to a paid version is something you will have to do.

There is nothing wrong with using free tax preparation software. In fact, millions of taxpayers do so every year. Just make sure you have access to all the features needed to file a complete return.

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