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Doing taxes is a chore that we all prefer to run away from. But then, it gets easier by the day because we have tools to help. It’s even better because many of these tools are free, accessible, and easy to use. Here are four great tax tools you can use right now to file your taxes. At the end of this article, we also share two other resources that are just as helpful. Enjoy.
Free online tax tools
TurboTax is a software package that makes tax filing easy and manageable for the average person. If your tax return is simple and you earn less than a stipulated annual income, you can use TurboTax for free and still have access to all the resources you need.
Otherwise, you’ll have to pay for the tool based on your filing needs. Other popular variations of the software include TurboTax Deluxe and TurboTax Self-Employed. Besides filing taxes, you can also use TurboTax to estimate your refunds and even get a refund in advance.
Taxfyle is a tax tool suitable for both consumers and accounting firms. It offers several services, from tax preparation to business incorporation. Taxfyle also has a host of resources that can help the average person learn everything they need to know about filing taxes.
One of these is a free tax return calculator (https://taxfyle.com/income-tax-return-calculator) that helps you structure your upcoming tax payment. All you need to do is feed the tool with your filing status and income details.
IRS Tax Tools
The IRS also offers a range of free tools for individual taxpayers, businesses, and tax professionals. Individuals can get their tax transcripts, get free filing for the elderly and disabled, and even process their credits, deductions, and refunds online.
Businesses can use free IRS tax tools like a tax calendar and relevant databases. Tax professionals can get a Preparer Tax Identification Number, which shows that they are authorized to prepare taxes for compensation.
Most people know less about taxes than they should, and a little more knowledge can go a long way. Blogs are a great way to increase your tax knowledge, as long as you know which ones to trust. Here’s a brief list of three blogs you can refer to for excellent information on taxes, written by experts.
- TaxAct Blog: It shares information on how to manage your taxes and finances in the long run.
- Intuit TurboTax Blog: This blog is managed by the tax filing tool of the same name. What better source of tax information could you ask for?
- Community Tax Blog: This resource focuses on providing information on how to tackle difficult situations with tax authorities.
Other Helpful Resources
To be in full control of your taxes, you need more than free tools. Sometimes, personal finance resources can also come in handy. They can help you track your spending, create useful budgets, and keep your finances in order.
Here are two useful tools.
Mint is a personal budgeting app created by Intuit, the same team behind TurboTax. It’s a favorite among millions of users because it’s simple and highly functional. You can connect Mint to your bank and credit information to analyze your spending habits and develop a plan. Other features also help you keep your spending in check and avoid late bill payments.
Tiller Money helps keep a clean and accurate record of your finances. You can think of it as a spreadsheet manager on steroids. The software updates your credit card statement, loans, investments, and other financial data based on templates you can customize. You can also set up regular email summaries to stay updated.