Tax forms are intimidating. Good tax software make tax forms, and filing taxes less of a pain. They help you have a good April 15. Less paperwork! (If only)
Good tax software efficiently compile and file your taxes correctly and find you the biggest refund to which you’re entitled. Good tax software is expensive but it is still cheaper than most in-person preparation services. It is of course cheaper than a major error on your taxes.
The tax software rounds all amounts ending in 49 cents or less down to the nearest dollar, and round amounts ending in 50 to 99 cents up to the next dollar.
Saving money on tax software: Beware of the relentless upselling from your tax software maker.
Do not ever deduct your software fees from your refund. You will be charged $35 for it. And never pay for document storage, as you most probably scan your docuemnts yourself anyway. Since only 1% tax payers get audited, it doesn't make much financial sense for everyone to pay for audit services from tax software sellers.
Keep in mind that all tax software know the same tax rules, and only differ on usability and intuitiveness.
The best tax software: TurboTax (focuses on asking the important tax-realted questions, helps simplify the process)
The best budget tax software: TaxAct Tax Software (less intuitive than Turbotax, cheap)