LowTax is an on-line tax preparation service similar in approach, and price, to Turbo Tax and Tax Cut.  It is perfect for simple returns where complexity is not an issue.   The data in LowTax may be imported into our professional tax software package if help is needed to complete the returns.   The data is also available should you need to transition to our professional services for the next year, eliminating the need to re-enter data.  It is a great solution for those clients whose situation has become simpler due to retirement or life changes but who may require our tax assistance in the future.  

We recommend LowTax because:

·         It is produced and maintained by CCH, the same company that produces our professional tax preparation software.

·         The cost is reasonable.

·         It provides continuity of data from year to year, remembering your last year’s information and carryovers.

·         It has a tax projector for next year’s tax planning.

·         With your permission we may access and import the data making it a smooth transition should you require professional assistance. 

We recommend using our professional services if:

·         You have to file in more than one state as the state tax credits may be hard to figure out.

·         You have a Schedule C with expenses.

·         You have rental property.

·         You have depreciation expense.

·         You have Alternative Minimum Tax.

·         You have income from a Schedule K-1.

·         You have some complexity and want to employ tax planning to legally reduce your taxes as much as possible.