TaxSlayer Overview 2022 | Premium Options At Inexpensive Worth Factors

12 months after yr, TaxSlayer delivers a tremendous tax submitting product, and 2022 is not any exception. TaxSlayer’s superb expertise platform and low cost costs make it a best choice, particularly for landlords and self-employed individuals who typically pay hefty charges to file their taxes.

In the event you’ve turn out to be outraged by the costs charged by premium tax software program firms, however you don’t need to hand over the premium expertise, TaxSlayer could also be best for you.

Let’s dive in to our TaxSlayer evaluation and see what makes TaxSlayer one in every of one of the best tax software program selections of the 2022 tax season.

TaxSlayer – Is It Actually Free?

TaxSlayer has a pricing tier known as Merely Free. This tier permits customers with W-2 earnings and academic bills to file Federal and State taxes without spending a dime.

The difficulty with this tier is that it is extraordinarily restrictive. Credit just like the Youngster Tax Credit score and the Earned Earnings Tax Credit score aren’t unlocked at this degree. Filers who’ve HSAs or qualify for Dependent Care Credit may even need to pay for TaxSlayer Traditional to finish their return. 

For Navy Members: TaxSlayer has been persistently identified to assist navy members. They provide a free Federal return for navy members utilizing TaxSlayer Traditional – with all kinds and tax conditions included (state is further). Be taught extra about TaxSlayer Navy right here >>

Over the previous a number of years, TaxSlayer has been making strides to turn out to be a premium tax submitting software program (with out the large sticker value). This yr, TaxSlayer earns a premium expertise label. The service now gives utterly guided navigation choices. Customers who aren’t positive find out how to file their taxes will discover the refined steerage straightforward to make use of.

Along with enhanced navigation, TaxSlayer has extra “personalization” efforts constructed into the software program. Simple to know “interviews” assist filers correctly enter particulars about Superior Youngster Tax Credit score Funds, Stimulus Funds, and different vital particulars.

In 2022, we named TaxSlayer the Greatest Tax Software program For Landlords and the Greatest Tax Software program For Small Enterprise Homeowners. You will discover the full rankings of the Greatest Tax Software program right here.

General, TaxSlayer simplifies tax submitting for many individuals. It is particularly nice software program for landlords and self-employed individuals who want nice calculators. TaxSlayer is designed to assist folks establish and correctly declare neglected bills and deductions. Self-employed folks and landlords can profit from the TaxSlayer method.

TaxSlayer supplies premium tax submitting software program at low cost costs. These are a number of the notable benefits of utilizing this strong software program.

In 2022, TaxSlayer improved its navigation and now gives guided navigation via each part. Customers can even soar to a brand new part utilizing the navigation bar on the left-hand facet of the software program.

TaxSlayer consists of “How this works” articles that spotlight authentic deductible bills. These articles make it far simpler for folks to know deductions they will take. Mixed with different choices (like “Ask a Professional”), filers can declare or not declare their bills with confidence.

Whereas most firms have “data articles” constructed into their software program, TaxSlayer is outstanding for the standard and applicability of those articles.

TaxSlayer Traditional helps all main schedules and kinds. That signifies that filers with self-employment or rental earnings can use the Traditional possibility. For premium software program, this can be a actual cut price.

TaxSlayer Premium consists of limitless one-on-one steerage from a tax skilled. This assist can occur over the cellphone or by way of reside chat.

The Traditional degree of TaxSlayer consists of IRS inquiry assist for one yr. TaxSlayer Premium consists of IRS audit help from licensed tax professionals for as much as 3 years. Lastly, Self-Employed consists of full protection and authorized illustration from a tax professional within the case of an IRS audit for as much as 3 years after the return is accepted.

Whereas TaxSlayer gives a superb product, it has a number of drawbacks that must be identified.

Nevertheless, TaxSlayer is probably not best for energetic crypto or inventory merchants. The software program does not combine instantly with any inventory brokerages. Nevertheless, TaxSlayer is now permitting customers to add a CSV of their inventory transactions. That is new in 2022.

TaxSlayer has a free pricing tier, but it surely it is solely relevant to pick filers. To qualify, you could:

• Have lower than $100,000 of taxable earnings
• Not declare any dependents
• Solely have the next varieties of earnings: wages, salaries, ideas, taxable curiosity of $1,500 or much less, and/or unemployment compensation
• Declare the usual deduction

Filers who need to declare the Youngster Tax Credit score or the Earned Earnings Tax Credit score need to improve as do inventory market traders or those that need to itemize deductions. 

TaxSlayer Pricing And Plans

TaxSlayer has a novel pricing technique. Its “Traditional” pricing helps all schedules and kinds, but it surely doesn’t embrace Audit Assist or recommendation from tax professionals. The upper-priced choices enable customers to improve for these choices. 

How Does TaxSlayer Examine?

TaxSlayer is an extremely strong and easy-to-use software program, but it surely doesn’t instantly combine with any brokerage accounts. As a result of it doesn’t have these integrations, we’re evaluating it to some cut price software program (FreeTaxUSA and CashAppTax) and high-end software program (H&R Block and TurboTax).

This yr, we beneficial TaxSlayer because the finest tax software program for Facet Hustlers and Self-Employed folks.

TaxSlayer makes use of best-in-class safety. It requires multi-factor authentication and encrypts all knowledge. However the firm’s safety insurance policies haven’t at all times been this good. Again in 2015, TaxSlayer had a knowledge breach wherein 8,800 clients had their knowledge stolen. The results of this breach was enhancements to safety together with the requirement to make use of multi-factor authentication.

Regardless of the cleaned-up safety protocols, all tax submitting merchandise carry some threat. TaxSlayer (or another supplier) might have their cloud databases breached via a hack. Tax filers don’t have nice alternate options to cloud-based tax submitting companies. Nevertheless, they need to take time to judge the dangers earlier than selecting any tax submitting software program.

TaxSlayer has a wide range of assist choices – which is how they differentiate themselves. Essentially the most strong assist assist shall be on their Premium and Self-Employed tiers. Nevertheless, any clients can use their assist kind, chat service, or name their assist cellphone quantity at 706-922-6741.

TaxSlayer has a strong customer support fame on-line. The corporate is presently rated 4.3/5 on Trustpilot out of greater than 15,500 buyer evaluations.

Not like different software program suppliers like TurboTax or H&R Block, TaxSlayer does not provide a desktop model of its software program. So the one methods to purchase TaxSlayer’s cloud-based software program is to go to its web site or obtain its cell app.

TaxSlayer gives a perfect mix of ease-of-use, high quality, and value. It’s the best tax software program for self-employed folks and landlords who want an important interface and nice calculators.

Folks with easy submitting conditions could discover that Money App Taxes or H&R Block Free make extra sense for them. However TaxSlayer gives premium software program at a cut price value for a lot of others.

Get began with TaxSlayer without spending a dime and take a look at it out >>

Listed here are some widespread questions we get about TaxSlayer yearly.

Can TaxSlayer assist me file my crypto investments?

Sure, customers can add a CSV of their crypto transactions this yr.

Can I request my stimulus verify via TaxSlayer?

TaxSlayer permits filers to assert the Rebate Restoration Credit score for 2021 via its software program. This credit score is relevant to the third stimulus verify which was issued in 2021. Any cash that wasn’t acquired shall be added to the annual refund verify.

I didn’t obtain the complete quantity for Superior Youngster Tax Credit score Funds. Can TaxSlayer assist me get the remainder?

TaxSlayer has an important Covid-19 part that walks customers via the assorted provisions related to financial reduction. TaxSlayer ensures that filers who didn’t obtain the suitable Youngster Tax Credit score funds shall be made entire via the annual tax refund. This assist is offered on the Traditional degree.

Can TaxSlayer assist me with state submitting in a number of states?

Sure, TaxSlayer helps multi-state submitting. However filers should pay $36.95 per state.

Do I’ve to make use of the self-employed tier for my facet hustle?

Technically, filers can use the Traditional tier for self-employment and facet hustling. Filers who need professional assist from self-employment specialists can improve to the most costly Self-Employed tier.

Does TaxSlayer provide refund advance loans?

In 2022, TaxSlayer just isn’t promoting refund advance loans. It does have a relationship with Inexperienced Dot Financial institution and permits unbanked folks to obtain their funds on a TaxSlayer debit card issued via Inexperienced Dot Financial institution. However this selection doesn’t entitle folks to obtain funds any sooner than regular.

Does TaxSlayer provide any offers on refunds?

TaxSlayer gives a “file and go” possibility the place charges are deducted from a filer’s refund. Nevertheless, this comes with an extra value.

Is TaxSlayer higher than TurboTax?

It relies upon. We discovered TaxSlayer to be higher on value and fairly good on usability. TurboTax does provide one of many best to make use of interfaces, although, and it might make tax submitting straightforward.

What are the alternate options to TaxSlayer?

TurboTax is the most important competitor to TaxSlayer. You can too have a look at FreeTaxUSA, H&R Block, and TaxAct. Take a look at our record of TaxSlayer Alternate options right here.