Online Tax Preparation and Filing FAQ
Frequently Asked Questions about Online Tax Preparation and Filing
I'm self-employed. Will an online tax preparation service be adequate for my tax needs?
If your financial situation is very complex, you may benefit from the assistance of an accountant. But most online tax preparation services do provide additional tools to help the self-employed ensure that they are filing their taxes correctly, as well as providing information about allowable business deductions. H&R Block's Premium package provides tax guidance for the self-employed, and their Home & Business package is designed for consumers who need to prepare corporate, S-corporation, partnership, LLC and payroll returns. TurboTax recommends their Home & Business software for consumers who are self-employed, who earn income from a side job, or who earn income from a non-incorporated home business. For small business owners who are incorporated, or who run a partnership or multiple-member LLC, TurboTax recommends TurboTax Business as opposed to Home & Business. TaxSimple also provides additional tools for self-employed consumers and small business owners, but we do not recommend these services.