21 October 2008

Tax Software

In the United States the Inland Revenue Department has noted that out of the federal revenue of 2409 billion dollars 345 billion dollars are not collected from tax payers. This tax gap is about 14 percent. This is partly due to the difficulty in preparing the tax return. In Singapore the use of electronic means has risen 88 percent in 2004.

Success is not only about formulating making a goal that you love to reach and reached it. It is not making money in the process thereby making your financial health in the pink. It is about giving to those who have less. It is also about how you find ways to work along the parameters of the laws. It is also about not falling into negligence in preparation of tax that to be given to the government as revenue. Tax evasion can be very costly affair to large corporations. You will lose substantial amount of money if you or company fall into evasion. You can read here on how to survive an audit by Inland Revenue Service.
"Under Singapore Income Tax Act, anyone found guilty of assisting another person to evade tax will similarly be liable to a penalty of three times the tax evade"

It is not ‘proenrichment’ to lose money as fines for evasion. In addition you will be portrayed as a corporate criminal. Why not pay your taxes correctly. As the burden of tax return preparation expands, we need tax software to lift up our burdens to have peace of mind. Make use of the ‘donkey’ to shift your burden. Under Singapore Income Tax Act, anyone found guilty of assisting another person to evade tax will similarly be liable to a penalty of three times the tax evaded. This story of tax evasion in Singapore can be deterrence for those who wants to enrich their lives. Pro enrichment is for Pro tax. In this context I will like to introduce some soft wares that can help in the preparation and submission of tax return.

The following three soft wares can be useful to readers.

Turbo Tax 2007

Whether you are a last minute filer, an avid stock trader or filing your first home purchase, Turbo Tax is an excellent tax preparation product. It has been awarded the ‘Top Ten Review Gold Award’: it has the best design and navigation; user friendly even for beginners; easy set up features.

Further reading about this product

Tax Act 2007
Apart from being awarded with ‘Top Ten Review Silver Award’ with excellent design, navigation and easy set features, this product is much cheaper that Turbo Tax 2007, it has an online tax consultant facility. No Live chats and forum facility for this product. It also has national averages comparison, year to year deduction comparison and joint vs separate filing options like Turbo Tax 2007.

Further reading about this product

H&R Block Tax Cut

This product price is on the high side despite having a mark less for its ‘user friendly features’ when compared to the other two products above. It is not facilitated with forum, national averages comparison, and year to year deduction comparison. It has live chat.

Further reading about this product