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Tip of the Day Don't Borrow from Your 401(k)

Don't Borrow from Your 401(k) - Investments should always be long-term and yoru 401(k) is no different than any other investment. The returns are on the long-term investment, so...

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Professional Income Tax Software

"Thinking of taking an online income tax course and wondering which one is the best?" asks The Tax College. "Would you like to learn electronic tax return preparation from tax professionals (mentors) currently in practice? If you'd like to take a fast and free online income tax course written by tax professionals, not university professors, then you've come to the right place! Our mission is to provide free tax education to all who seek it."

Of the almost 90,000,000 tax returns filed electronically last year, more than 62,000,000 were prepared and filed by professional tax preparers. Nearly 60% of all Americans pay a tax professional to prepare their tax returns every year. Tax College online is now offering you the ability to start your own business to get into this market.

"Now you can start a tax preparation business in your home or office with our practical, in-depth, career-level online income tax course designed to help you enter the lucrative tax preparation field," their website boasts.

Even if you don't want to become a tax professional, the U.S. tax system is complex enough to warrant taking classes.

There are a number of things to keep in mind when deciding whether to purchase a professional online tax software. Below are the criteria TopTenReviews.com uses for their ranking system:

"Intuitive Navigation

Preparing and filing taxes is intimidating enough without having to deal with a complicated and illogical program. The website should have helpful drop-down menus, useful icons and assessable definitions and help.

Novice-Friendly

The interface should be easy to use, the first time, even for new computer users and inexperienced tax filers. Tax services should be all-inclusive, provide information on current tax laws and offer clear terminology for tax jargon. They should also offer error-proofing to limit possible mistakes or omissions by the novice tax preparer.

Ease of Installation/Setup

An application, if needed, should install quickly and easily. An online service should be easy to access and provide quick service.

Feature Set

The feature set is the collection of tools and capabilities the program offers. A good service offers everything needed to file a complete and accurate return. Some offer state tax forms and financial advice as well. An exceptional service offers all of the previously mentioned plus IRS publications, imports from other programs, checks error and deductions and provides audit defense."

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Definition of the Day Tax Credit

Definition: Tax credits are credits that reduce a person's tax liability by an amount equal to the tax credit. Advice: Tax ...

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