Friday, March 29, 2024

Amazon and Walmart cut prices on TurboTax and H&R Block tax software

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No one enjoys doing their taxes but good tax software can make the process a lot less painful. It’s important to have the right accounting tool for you so that you can easily file your tax return safely with the knowledge that it’s correct and accurate. Simply put, taxes don’t need to be taxing. Software like TurboTax and H&R Block offer some of the best tax solutions out there. They make it pretty easy to file your state returns, federal returns, and any business tax you might need to deal with. It all depends on the software package you pick.

While you don’t need to file your tax return just yet, with Amazon, Walmart, and Best Buy all slashing their prices on tax products, it’s the perfect time to find the right software for you. Here are the best tax software deals to save you money filing your return.

Best Basic Software: H&R Block Simple Tax Solutions — $15

Don’t want to pay too much for your tax returns software? Then H&R Block Basic 2019 is the tool for you. It’s super cheap at $15 and ideal if you just need the bare basics. It’s aimed at those users looking to file their federal taxes while trying to get the maximum refund possible. It offers step-by-step guides on credits and deductions, along with a near-encyclopedia level of knowledge thanks to its 13,000-plus articles that you can search through. It offers five free federal e-files and unlimited federal preparation and printing, the ability to itemize deductions with Schedule A, and an easy import tool for your W-2, 1099, 1098, and your last personal tax return.

In the unlikely case you’re audited, it also offers in-person representation but that should barely ever happen because it also has an accuracy review that checks for any issues and determines your audit risk.

Best for Home Owners: H&R Block Deluxe — $35 ($10 off)

For homeowners keen to maximize their mortgage interest, as well as fully ensure real estate tax deductions work for them, there’s H&R Block Deluxe. It’s currently available at Amazon, Walmart and Best Buy for $35 but we like that Amazon has an exclusive 4% refund bonus offer with money coming back on an Amazon gift card.

Whichever retailer you go with, the advantages are numerous. There are all the features of the basic package including drag-and-drop functionality from other tax providers and that all-important accuracy review, but it will also provide you with assistance on income from investments, stock options, home sales, and your retirement. There’s further advice aimed at mortgage interest, real estate tax deductions, and even charitable contributions. It might cost more than the basic package but in the long term, it should save you plenty of cash, providing you’re a homeowner or investor.

Best for multiple deductions: TurboTax Deluxe — $40 ($20 off)

While something like H&R Block Deluxe is great for some deductions, TurboTax Deluxe is even better if you have multiple deductions to think about. Currently cheapest at Amazon and Walmart at $40, if your financial life is a little complicated, it’ll easily save you that much and more in your first tax return.

It covers typical deductions like donations and mortgage interest, but it also includes educational expenses and medical figures. In all, it takes into account more than 350 different deductions and credits so that it figures out the biggest refund for you. To further reassure you, it has an Audit Risk Meter, too, so you can reduce your chances of an audit further down the line. A neat tool for valuing your donated items is also included.

Impressively, TurboTax promises that its calculations are 100% accurate so you won’t have to worry about an IRS or state penalty. The company is confident that if there is an error, it’ll pay you back, plus interest.

Buy it from Amazon and you get a free one-year subscription to Quicken Starter Edition thrown in.

Best for Small Businesses: TurboTax Home & Business — $65 ($35 off)

TurboTax Home & Business isn’t the cheapest of business tax software at $65 but if you need a solution that works for freelancers, contractors, sole proprietors, as well as small businesses, you can’t beat it for versatility.

The software is just as simple to use if you have a side hustle as it is if you’re dealing with W-2 and 1099 MISC forms for your employees or other contractors. A brief interview process ensures the accounting software is set up with your business in mind. Each step of the way is double-checked too so there’s no risk of you making a mistake. Like other TurboTax software packages, more than 350 tax deductions and credits are checked as you go along so your maximum refund is determined.

It includes information on which expenses you can deduct for as a self-employed worker, such as utilities or your home office. It’ll also determine if actual expenses or the standard mileage rate will get you the biggest tax deduction, plus guide you through all other expense categories. It’ll grow alongside your business’s growth, ensuring this is a small price to pay for a long-term solution.

It’s currently at its cheapest at Amazon for $65.

Best for Investments and Rental Property: TurboTax Premier — $55 ($35 off)

If you own stocks, shares, bonds, mutual funds, or rental properties, it’s important to have a tax software package that supports such interests. TurboTax Premier is the best of the bunch and Amazon has just reduced it from $90 to $55. Besides offering everything that most other TurboTax software caters for, such as being able to track more than 350 deductions and credits, and deal with the basics, it does so much more.

It offers retirement tax help along with an IRA tool that shows you how to get more money back for when you retire. Every year, it works on maximizing your IRA savings along with determining your tax health to work on improving things for the next year. It can also automatically determine your correct basis for shares purchased if you sold employee stock at any point.

For new renters, there are also guides on how to set up rental properties while still determining the fair market rent value. If you have special requirements such as these, TurboTax Premier is the package to go for, especially while it’s priced so low at Amazon.

We strive to help our readers find the best deals on quality products and services, and we choose what we cover carefully and independently. The prices, details, and availability of the products and deals in this post may be subject to change at anytime. Be sure to check that they are still in effect before making a purchase.Digital Trends may earn commission on products purchased through our links, which supports the work we do for our readers.

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