Managing taxes is already complex when working as an employee in your home country, and becomes even more when working remotely as a freelance, contractor or even as an employee too, but for a company that is based in another country.
Thankfully, there are now also online based services and software that you can use to navigate tax management as a remote based professional.
Let’s go through the best in the market reviewing their main characteristics: ease of use, features like integration and automation with your country’s tax system and of course, the price too.
If you’re looking forward to an in-person tax consultation but don’t prefer the interaction, H&R block might be just what you need. Amongst its competition, it’s a much more useful and easy-to-use tool. The unique utilization of Wizard-like tools allows the application to fill out IRS forms in the background. The added benefits include easy-to-understand terms translated specifically for a non-tax expert’s understanding.
The intelligent app will provide you with real-time financial progress so you’re aware of your financial status and the applicable taxes.
- Easy navigation allows convenient experience
- Clear and legible tax info – understandable by any average tax-payer
- Context-sensitive help provided
- Thorough, understandable explanations of tax topics
- Easy to use highly developed apps
- Optional fee-based expert advice to further attend to queries.
- No comprehensive navigation tool
- Virtual Assistant is restricted
One of the bigger boys in the tax-paying software dimensions is the 25-year-old TurboTax by Intuit. It uses an interview-style format to keep the information to the point and uncomplicated for the average user.
Its state-of-the-art app has added new Covid integrated features that focus on stimulus payments and unemployment. The top-class usability and support of the app make the whole experience completely worth it.
With its Live video-chat feature it has won customers right and left. With this feature, you can video call a tax expert and they can run you through the line-by-line details of your e-filing experience.
- Extra-ordinary user experience
- Thorough interview as well as a final review
- Customized explanations of tax calculations
- Extensive online help resources
- Suitable security measures
- Highly functional mobile app
- Always available live video support from tax experts
- Expensive to use
- Some online queries in the community resolved by non-Intuit staff
TaxAct dates back to the 1990s, since then it has been providing its esteemed and reliable services. TaxAct is the one-click solution to all your filing and financing shenanigans.
The simple interface asks you questions related to your finances which it uses to deduce results that would ease your e-filing experience. It focuses on your financial situations and suggests the version of the software that best suits you, hence providing a top-notch, individualized experience.
- Good navigation tools and data entry options
- Automated W-2 entry
- Deduction Maximizer
- Good help provision in the Answer Center
- Enhanced review process and 2021 tax saving strategies
- New Xpert Help feature included
- Certain help links lead directly to confusing IRS documents
- Help tools are often fragmented to some extent
- Expensive per-state filing
- Mediocre mobile app help services
What started off 50 years ago as an accessory to aid accountants and finance experts has carried on the legacy to this day. TaxSlayer is an affordable yet highly efficient platform that offers everything e-filer demands.
E-filers have seen the updates in the latest version of the TaxSlayer Classic. Other than the extended features including COVID -19 resources is the comprehensive information it provides on tax topics.
Initially, you’ll have to select the version you want to use and set up an account. Its method is similar to its peers with respect to its interview-based questions. These may include the Wizard-like features, the questions may be answered numerically or monosyllabically.
Its efficient finance tracking keeps a trail of the previous year’s taxes as well as the current ones. The feature is known as My Account.
The new version competently supports all IRS forms and schedules which may be useful if your finances are not haphazard. In the other case, you might need a little help to navigate through the software.
Overall the software provides good value for money and is competent for the more complex types of tax returns as well.
- Easy on the pockets
- Swift to use
- Modified user experience
- Supports all major IRS forms and schedules
- Extensive knowledge-based information
- Improved and convenient to use home page and e-filing process
- Little context-sensitive help on working screens
- Various navigation irregularities
- Reviews could be made more targeted
Having only been established a few years ago, Credit Karma is a credit-monitoring site that offers various tax-related services. Preferred by many for its affordability, Credit Karma can become your best friend if you’re new to the world of taxes, thanks to its ease of use.
With Credit Karma, you can check your Equifax and TransUnion credit score for free. The platform also has tools to help you generate credit reports. Yet, that’s just the highlight! Once you sign up and start navigating the site, you’ll see that this amazing platform is capable of much more.
A notable Credit Karma feature is its free online tax preparation service. With a Credit Karma account, you can enjoy this feature and ease your life as a tax-filer.
The unique thing about the platform is that it lets users file their state and federal returns for free. Some other praise-worthy features include the following:
1. Audit Defense
Even if you’re availing audit support from another tax prep service, going the extra mile will never hurt. Credit Karma helps you avail this ‘extra’ support in the form of its audit defense services. Again, you don’t have to pay even a penny here.
This audit defense service can assist those who can’t handle taxation technicalities. Under this service, an expert from Credit Karma will stand in an income tax auditing session on your behalf. Their expertise can help strengthen your case, making the auditing favorable for you.
Credit Karma has excellent working accuracy. Availing their services, clients need not worry about miscalculation or taxation errors. But if such a thing happens, Credit Karma will cover you for the penalties imposed.
Generally, you can expect a refund worth $1000 whenever you’re penalized due to the company’s mistake. This reimbursement is often made in the form of gift cards. Nonetheless, such a miscalculation rarely happens. However, this guarantee of reimbursement gives users another reason to trust Credit Karma.
Is Credit Karma The Only Free Tax Service?
Undoubtedly, many other notable tax-prep services are now offering free versions too. However, Credit Karma covers the widest variety of tax situations for free, at least to date.
We aren’t suggesting that this platform comes with no flaws at all. However, we’re sure that it is, by far, the most affordable and easy-to-use taxation solution for many. If you don’t want to pay anyone to assist you with your taxes and audits, Credit Karma can be your savior.
All of it sounds promising, right? If so, sign up for your Credit Karma account right now and free yourself of taxation and audit-related worries. You can use this account as a savings account too. Your Credit Karma account can help you get credit or loan recommendations as well, explaining why Credit Karma is ruling in 2021.
- Easy navigation and interactive interface
- Available for both web and mobiles
- Works for most tax situations
- Free tax filings
- Can’t connect users to taxation experts
- Very limited customer support
What other solutions to manage remote based business and professionals taxes would you recommend? Let us know your experience in the comments!
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