TaxAct is less well known among tax software providers, but it offers quality online software that generally costs less than TurboTax or H&R Block.It may not be as fancy in some ways, but you can add screen sharing access with a tax pro, and the data-entry process is similar to other providers. And TaxAct’s prices are competitive. Jump to: Full review.Generous tech support hours, including weekend help.Xpert Assist upgrade includes unlimited help and a final review of your return.Free version of the program charges for a state return.Full TaxAct reviewTaxAct’s pricesTaxAct’s products are generally less expensive than similar products from…

TurboTax is generally pricier than everything else out there. Confident filers may not need all the bells and whistles that most TurboTax online products offer, but some people may find the streamlined program and the availability of human help worth the extra cost. We’ve long praised TurboTax for its design and user experience. Jump to: Full review.Full TurboTax reviewHandy tools and features that help minimize manual input.Generous tax pro support that includes a final review if you upgrade.Expensive compared with other tax software.The free version is limited in what it can handle.TurboTax pricingTurboTax has a lot going for it, but…

If you need cash while waiting for your income tax refund, some tax preparation services — like Jackson Hewitt, H&R Block and TurboTax — offer tax refund loans.Tax refund loans, also called “refund advances,” let you access your refund early. The tax preparation company lends you money that is repaid with your tax return. Some loans are zero interest, while others include interest if you want the funds before 2024. Tax preparers typically require borrowers to file their taxes with them, which can come with a fee. In paying a tax preparer just to get the advance, you’re basically paying…

What is a W-4?A W-4 form, or “Employee’s Withholding Certificate,” is an IRS tax document that employees fill out and submit to their employers. Employers use the information on a W-4 to calculate how much tax to withhold from an employee’s paycheck throughout the year.In the past, employees could claim allowances on their W-4 to lower the amount of federal income tax withheld from their wages. The more withholding allowances an employee claimed, the less their employer would withhold from their paychecks. However, the 2017 Tax Cuts and Jobs Act overhauled a lot of tax rules, including doing away with…

The IRS offers two major options for lowering your taxable income: the standard deduction and itemized deductions. Most taxpayers opt for the standard deduction simply because it’s less work than itemizing, but that doesn’t mean it’s the right choice for everyone.What is the standard deduction?The standard deduction is a specific dollar amount that filers can subtract from their adjusted gross income to lower how much of their income is subject to tax. The IRS adjusts the standard deduction amount every year to reflect the rate of inflation.Standard deduction amounts generally depend on your tax filing status. Certain taxpayers, such as…

H&R Block’s e-filing tax products are intuitive and easy to use, and the free version offers filers a robust selection of forms. Although it’s not the most expensive of the tax software providers we reviewed, H&R Block’s online tax software isn’t the cheapest either.Still, its free version is one of the best on the market: The interface is straightforward and easy to use, and help from a human is available for an extra cost. Jump to: Full review.Free version offers a generous selection of tax forms.All paid packages include access to tax pro help at no additional charge.Well-designed and user-friendly…

TaxSlayer’s pricing model sets it apart: The company charges according to the level of support you want, rather than according to a software package’s capabilities. In other words, the cheapest paid package handles all the same tax situations and forms that the more expensive package handles — what changes is how much help you can get.If you’re a confident tax filer and don’t need a lot of support, you could save some money with TaxSlayer. Jump to: Full review.More affordable than bigger-name tax software providers.Premium and Self-Employed tiers include free tax pro support.Free version of the program has many restrictions,…

Soon after the 2024 elections results rolled in, the speculation began about what they might mean—especially when it comes to the economy and taxes. One common assumption is that a Republican victory will immediately lead to tax cuts. But if we’ve learned anything from history, it’s that what we think will happen—and what will actually happen—may be different things. While tax cuts may be in the cards, how quickly they get pushed through is uncertain. Results Earlier this week, the Republicans claimed victory in the White House and, unless there’s a surprise in the next few days, that will also…

Taxes are confusing enough without the added stress of figuring out which tax software to use. While you should get the same refund or bill no matter which provider you choose, tax filing programs typically come at a cost — so there’s a crucial difference between paying for what you’ll use and paying extra for what you don’t need. We did the research by testing and evaluating four well-known, widely used online tax providers. Our review process includes first-hand testing, information collection and user surveys, focusing on factors that are important to filers: price, ease of use, tools, tax pro…

California might have some of the highest sales tax rates in the country, and calculating how much is owed can come down to where the item is sold, what the item is and who it’s sold to. California state sales tax rateIn California, the statewide sales tax is 7.25%. However, the final price of any taxable purchase could be higher due to district taxes, which can be anywhere from .10% to 1.00%. It’s also possible to have more than one district tax applied to a purchase.California state sales tax calculatorWho pays CA sales tax?In California, sellers are responsible for calculating…