Cedar Rapids, IA – January 3, 2018 – TaxAct has rolled out a series of enhancements to further simplify and optimize the tax-filing process for freelancers, independent contractors, and self-employed individuals, who comprise the gig economy.

"The latest updates to our custom-built e-filing solutions provide members of the gig economy with the information they need to maximize their deductions and improve their overall financial situation, not just at tax time, but all year long," said Jenna Ivanoski, Gig Economy Product Manager for TaxAct. "At TaxAct, we want to help freelancers and other members of the gig economy every step of the way to ensure they can file their taxes quickly, cost-effectively, and without confusion."

The new features, available within TaxAct® Freelancer, include:

  • TaxAct's Deduction Maximizer helps taxpayers find the deductions most relevant to their profession, to help ensure they don't miss any opportunities to reduce their tax liability. The Deduction Maximizer provides guidance for sales representatives, marketing or business consultants, writers, bloggers, graphic designers, actors, and other common freelance professions.
  • A More Intuitive Step-By-Step Interview makes the tax-filing process easier for taxpayers who receive Form 1099-MISC, and may also need to file Schedule C and/or Schedule E.
  • TaxAct's Self-Employment Tax Calculator allows freelancers, independent contractors, and self-employed individuals to understand the tax-related impact of working for themselves.
  • Engaging Resources, including short videos about deductions for the top freelance professions as well as blog articles with tax tips, are available on the TaxAct Freelancer landing page.
  • Coming Soon: A new Income & Expense Tracker will take the hassle out of organizing income and expenses throughout the year, ensuring TaxAct Freelancers are better prepared at tax time.

The new TaxAct Freelancer features are also available within TaxAct® Premium. For more information, please visit https://www.taxact.com/individual-taxes/online/premium/.

"TaxAct offers personalized e-filing software that our customers can utilize to save money on taxes and take control of their financial situation, regardless of their profession or income," said Sanjay Baskaran, President of TaxAct. "We continue to update our solutions so that we can bring tax peace of mind to our customers."

About TaxAct

TaxAct is the savvy tax-filing partner, providing everyday Americans with affordable digital and downloadable tax management software to successfully navigate the U.S. Tax Code and improve their overall financial well-being. TaxAct's products are equipped with personalized features and forms which enable all users to quickly, accurately, and cost-effectively file their taxes, regardless of their profession or tax bracket. Business owners, freelancers, independent contractors, and other skilled professionals can confidently and seamlessly utilize TaxAct software to achieve their maximum tax refund while also benefiting from forward-looking tax planning tools that can help them save more money all year long. TaxAct customers can efficiently file and manage their taxes like a boss—on their own time, on time.

TaxAct was one of the top three visited online tax preparation destinations during the last tax season1 , and has assisted with approximately 65 million e-filed federal returns since 2000. To learn more about TaxAct, a business of Blucora, Inc. (NASDAQ: BCOR), visit www.taxact.com, or connect with us on Facebook, LinkedIn, and Twitter.

1 According to collective week-end reports for TaxAct.com released by SimilarWeb Ltd.