If you’re thinking about filing your own taxes this year, you need the right tax software to ensure you get everything right. Liberty Tax is a well-known tax preparer, but they also offer an online solution for those who want to file their own taxes.
If you want to give filing your own taxes a try this year, Liberty Tax makes it easy to make the switch whether you used them in-person in previous years or you’ve used a competitor. They’ll even let you upload your tax information from competitors used in previous years to make filing your own taxes easier.
If you’re new to filing your own taxes or are switching over to Liberty Tax, check out this guide to learn about their programs.
If your financial and tax situation is what you’d call ‘basic’ you may qualify for this simple tax program. You can file as a single taxpayer or married filing jointly and use the program, but you can’t have any dependents.
The Basic edition supports forms 1040 and 8853 as well as Schedules A & B.
The Basic edition covers your basic 1040 and standardized deductions. It’s for the ‘basic’ taxpayers and includes:
You can only use the Basic edition if you:
The Basic edition costs $44.95 and state taxes are $39.95.
If you have kids, investments, or own a house, you’ll need a more robust program to make the most of your eligible deductions. The Deluxe Edition covers all these situations, including everything outside of self-employment.
The Deluxe edition covers more forms including 1040, 4562, 8839, and Schedules A, B, and C.
It includes everything in the Basic edition, including ensuring you get all deductions and have in-person support should you need it.
If you invest, are a homeowner, or have more deductions than the standard write-offs, you need the Deluxe Edition.
If you make charitable donations, have capital gains, pay mortgage interest, or want to take your Child Tax Credit, the Deluxe version covers what you need.
The Deluxe Edition costs $64.95 and $34.95 for state taxes. While it’s a bit more, if you have enough deductions, you can offset the cost.
If you’re self-employed, the Premium Edition covers what you need. This program covers all unique income situations and ensures you get all deductions you’re eligible for, especially as a business owner.
The Premium edition includes everything from the plans above, but also walks you through unique situations, such as farm income, rental income, unreported tips, beneficiary income, or income over $100,000.
If you’re self-employed, have a high income (over $100,000), or own a business with a partner, you’ll need the Premier version to ensure you cover all your tax liabilities and get the most deductions.
The Premier version costs $89.95 plus $34.95 to file your state taxes. Self-employed individuals are in a unique situation, so you’ll be grateful for the support if you’ve decided to do your taxes yourself.
Choosing Liberty Tax to file your taxes is a great choice, especially if you’ve never filed your own taxes. Knowing you have support at any branch is something no other program offers.
Each plan they offer caters to a different situation. While they don’t have a free option like many other tax platforms, they provide plenty of benefits that make the cost worth it including the audit assistance and free ‘double checking’ at a local office.
If you know what you’re doing filing your taxes, you may find that Liberty Tax provides everything you need, with the reassurance that help is a few miles away should you need it.