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2 Mar 2011 By Bibey

Tax Information & Tax Software FAQ’s

27 Jan

Before you begin to use tax software, no matter the publisher, you are going to have a few questions on your mind. It is important that you answer these as soon as possible. This way, nothing is slowing you down when you begin to complete your return

Read on for an important guide to tax software. The guide covers off some important tax information points pertaining to the use of preparation software.

Important Tax Information For Software Users

1. How much does tax software cost? This is the most common question among taxpayers looking to use a software application for filing their return. Of course, the answer greatly varies. Take Intuit's best selling Turbotax for example. You have several options, at different price points, including: Free Edition, Deluxe, Premier, Home and Business.

2. Can I file my state return with the same software? In most cases the answer is yes. That being said, you need to know that there are additional fees if you are going to e-file your state return. TurboTax currently charges an additional $39.95 for each state return.

3. Will I have access to real time help if needed? This is an important question to answer before you buy any tax software. In most cases, the answer is yes. The big players in the industry, particularly the behemoth TurboTax and H&R Block, offer both online help as well as a customer service line.

4. Can I use tax software to file my business return? The short answer is yes. But remember, you have to choose a business edition. Using tax software meant for a personal return will not bode well if you own a business.

With these FAQ’s in mind, you should have a better idea of whether or not tax software is right for you.