During the tax season, most people start searching for the best place to file taxes and the best tax preparation options so as to ensure that they correctly file their taxes. Since most people with an income have to file their taxes, hence it is important for them to put their tax returns together by April each year.
Although the easiest way to file taxes is by taking the services of a professional (tax preparation services), many Americans still choose to do their taxes using tax software. However, taking the help of tax preparation services is easier and more hassle-free.
In this article, you will learn about the best tax service companies and tax preparation services. Apart from the overview of each service, we will provide you with a list of the best services, as well as their pros and cons. After reading this article, you can decide for yourself the best place to do taxes. Hence, to learn more, read on through to the end of the article.
Tax Preparation Services: What Are They?
According to Accounting.com,
“Tax preparers calculate, file, and assist individuals and businesses with simple and complex tax returns. These professionals’ main goal is maximizing clients’ tax returns while adhering to applicable regulations. In addition to tax return assistance, tax preparers can provide accounting, bookkeeping, and payroll services.”
When companies or financial firms employ multiple tax preparers to offer tax solutions to clients, they are called tax preparation services. These companies are mostly the busiest during the tax season.
These companies collect financial records of individuals and help these individuals to make their tax returns or make tax returns on behalf of them by making profits. Furthermore, the tax preparers working for these companies update their clients’ information on a regular basis and also analyze their present and past financial data. They also communicate with their clients about upcoming tax filings and deadlines.
The Best Tax Preparation Services Of 2023
According to Investopedia,
“Tax preparation services are often more expensive than do-it-yourself options, but if you have very complex taxes, going to a tax prep expert could be a good decision. The best tax prep companies have sterling reputations, fair pricing schedules, and extra services available, like flexible in-person hours.”
The following are some of the best tax preparation services that you must check out for in 2023 if you want to do tax filing for 2024:
1. H&R Block
This company is probably the most famous tax preparation service in the United States. The company’s reliability and its size enable us to give it the top spot. In the North American region itself, H&R Block has around 11,000 retail locations.
The company offers two types of tax preparation options – in-person and drop-off. In the former, you sit at your office, and a tax preparer comes to you from your nearest branch and does the work near you. In the latter option, you will need to take your tax papers, documents, etc., to the nearest H&R Block branch.
However, there are additional costs per tax form, which can make the price higher. Furthermore, not every tax preparer you meet is a CPA.
This company comes with tax software and also offers you in-person tax preparation services. With Intuit TurboTax, you can file your tax independently while a tax professional helps you do it from a remote place. You will also enjoy a maximum refund guarantee with TurboTax.
If you are an active duty personnel, a national guard, or a reserve member in the army, you can file your taxes for free, provided you show your documents. Furthermore, if there is an issue with your tax documents, it calculates the IRS penalties perfectly.
3. Liberty Tax
This company is twenty-five years old and also one of the best tax preparation services in the US. The company has 2700 locations in North America, and the services are widely accessible. There are also online filing services available if you do not have the time to drop your tax documents at your nearest Liberty Tax office.
With the help of the mobile app, you can talk with a virtual tax pro, scan your tax documents, and access your records for easy use. The company also offers you in-person filing, where a tax preparer comes to your location to prepare you to file your taxes.
According to SFGate.com,
“TaxAct has helped over 85 million tax filers since 2000 file their documents online. With its easy-to-navigate tax software and knowledgeable CPAs (certified public accountants), TaxAct helps taxpayers easily file their own taxes for the maximum refund.”
It is an online tax filing system. However, if you need help, you can get recommendations over the phone as well.
5. Jackson Hewitt
You can find multiple Jackson Hewitt offices near you, especially in Walmart Stores. However, Jackson Hewitt also offers tax preparation services online. This is also an old company and has been filing millions of taxes for years. It has 6000 office locations in the US, out of which half are inside Walmart Stores.
6. EY TaxChat
If you are a self-employed individual, then EY TaxChat is the best option for you since it is easy and affordable. You can do tax filing from your phone as well as from your computer. While filing, you will get professional guidance from a tax preparer online. Tax document submission is also quite easy.
Although there are many great tax preparation services available in the US that you can find near you. However, the ones that we included in this article are the best overall. If you want the best overall, then we recommend you to go with H&R Block, as it has the most reach in the United States.
However, you must always check which are the best tax preparation services as per your own needs. Do you have any recommendations related to the best tax preparation services in the United States? Share your views regarding the same in the comments section below.