Week 8

This is the time of year that taxes must be filed. Recently I filed my taxes and I completed it online. Accounding to the article Tax-Prep Site found at http://www.pcworld.com/businesscenter/article/190866/taxprep_sites_the_big_three_fight_for_your_2009_return.html

there is three main competitors for online tax filing. They are Turbo Tax, H&R Block and TaxAct. Since each service offers varying degrees of importing the previous year's return into the current return many users stay with the same provider from year to year. Turbo Tax offers the best import service. Although Turbo Tax is the most expensive it seems to also offer the most support. There is an online community, a telephone number, and a support section on their website.

H&R Block went through a make over and it is cosmetically more appealing. H&R does not offer the ability to offer all forms such as the 1099 which puts it at a disadvantage to Turbo Tax. It also does not allow you to jump from one section to the next. You must file your return in a step by step process that H&R dictates for you.

TaxAct allows the users to jump from section to section. It does not allow imports from many forms but it is the least expensive of the three. The support for TaxAct is limited and if your new to filing your own taxes it may not be your best choice.

Filing taxes online can be easy and a lot less expensive than taking it to a professional. All three of the above services make it possible to do it yourself. I have always done my own taxes. Its a learning process but an interesting one. I enjoy having the knowlege of where my money goes each year and how I file. Each year I research the new credits and cuts. Its another way to keep control over my dollars. If you do choose to have a professional file your taxes for you be sure to know exactly what he or she is doing. Do not be left out in the dark. It is your money and you better know where its going!

I can breathe a sign of relief that my taxes done and that I can check one more item off my to-do list. Which tax service do you use? Do you take your taxes to a professional? What are the advatages and disadvantages?