TurboTax, a popular tax filing software recently announced that it will offer users free upgrade to the premier version of the software on 7 February, 2015. The catch: only TurboTax Deluxe users will be able to avail it.
A spokeswoman for the company told the press that starting the coming Saturday, users will be able to click on a link in their TurboTax software to upgrade to the home or business version of the Premier version of TurboTax. The announcement has outraged devoted users of the desktop version of the TurboTax Deluxe because, for this season, the Premier version will effectively replace the older tax preparation software after the free upgrade.
Photo by State Farm
Users who bought TurboTax Deluxe software this year were angered by the company’s decision to remove capital gain reporting capabilities from the new edition. Self-employed taxpayers, to whom this feature was indispensable, found themselves forced to spend 50% more than the TurboTax on buying the Premier version. TurboTax is an operation of Inuit, a company that specializes in making financial software solutions.
The Deluxe version’s hitherto loyal following protested on Amazon and tax software forums. Meanwhile, TurboTax’s H&R department tried to placate angered users with free updates for their copies of the software.
Inuit’s CEO, Brad Smith has apologized to buyers for not explicitly alerting them of the change beforehand.
The company began damage control by offering $25 refunds to all TurboTax Deluxe customers whose process of filing their 2014 Taxes was hampered by the changes in the Deluxe version of the software. Next, the company offered free upgrades to the Premier version and has promised to restore the deducted capabilities to TurboTax Deluxe next year.
Buyers of TurboTax Deluxe receive their upgrades starting Saturday.
Americans might be willing to wait longer for their tax refunds (60% responded) and would like to see stronger requirements for tax preparers to help reduce tax fraud. H&R Block ran a survey of tax payers this year related to tax fraud and ways to reduce it. 70% of those responding to the survey wouldn’t mind answering additional questions on their returns if it would help out. Here’s what they found about Eliminating Tax Fraud.
H&R Block Business Center (Photo credit: EVRT Studio)
An H&R Block executive explained that tax preparers do not have any requirements or licensing in 48 or the 50 states. He made comparisons to hair barbers who need to be licensed everywhere. But he doesn’t stand with the courts which decided against making tax professionals get training and pass tests before they could work in the field.
Those against preparer requirements of testing and training think the certification should be optional so that it benefits young tax preparers without placing a new burden on seasoned professionals that are already trusted in the community. The lawyers fighting the IRS in court also argued that certification would benefit the big players in the field that could absorb the costs while putting smaller operators out of business. Return to our site for additional information on Eliminating Tax Fraud.
Income tax time is a nightmare for most people, but it doesn’t have to be. TaxSlayer, like TurboTax.com, is an easy and free way to do your taxes. Why set up an appointment and pay someone else $100 when you can use Tax Slayer? This software is programmed to get you the maximum amount of money back possible.
Features
TaxSlayer is easy, free, and is 100% guaranteed to make all your calculations correctly. You can do them online or download a CD, or do them from your tablet or phone. No matter where you are in the process, TurboTax.com or TaxSlayer and their software will
Kara DeFrias (Photo credit: TEDxCoMo (Columbia, MO))
double check all information so no mistakes are made. The software checks over 350 tax deductions and credits, ones that you would most likely miss. TaxSlayer also offers free help support by phone or by online chatting, from income tax professionals. If you run into problems, they’ll be there to guide you every step of the way. TurboTax.com lets you prepare your tax return, e-file it, and rest easy. No worrying about mistakes or wrong entries, and you’ll get the maximum return possible.
Editions of TaxSlayer
TaxSlayer specializes in personal and small business tax assistance. You can get the free edition, or if your return is a bit more complicated, there’s also the TaxSlayer Classic, or the TaxSlayer Premium Edition.
Income tax time can be stress free if you go to TurboTax.com and check out all their free and guaranteed programs. TaxSlayer is the only way to go if you want your taxes done right!
Intuit has played around a bit more with TurboTax 2014, and has done things such as making fonts and graphics bigger. The TurboTax support page has also been replaced, with what is known as the TurboTax AnswerXchange.
Users returning will find that their 2014 taxes are easier to do because the data that has moved over, and there is even a personal guide to the Affordable Care Act.
TurboTax Chat Community Overloaded On Tax Day (Photo credit: John Swords)
An Easy Walk-Through
The software searches through more than 350 deductions and credits, which can help you claim everything that is allowed according to the tax code set forth by the IRS.
TurboTax Deluxe, as well as its competitors take your information, which you provide, and then it does the required deductions. It also drops your answers into the correct fields on IRS schedules and forms. All of this goes on in the background, and all you need to do is click buttons in order to move forward and back.
Navigation That Is Top-Notch
The navigation is top-notch, and you will find that navigating TurboTax Deluxe is easy. Your federal review is divided up into three sections, with the first two being Wages & Income and Deductions and Credits. The third section is Other Tax Situations. You will find that navigating through each section is a breeze.
You will also be pleased to know that there are other ways that you can navigate the site. You will notice that four links opens when you click on the tools icon, which is located to the left side. You will be able to look for a topic in a list that is very lengthy, or you can arrange the list in alphabetical order. All you need to do is click on the topic of your choice. Once you have done this, you will be taken to that screen. Another thing you can do is create a flag for a specific page, and this will remind you that you need to go back to the page and fill some information in. The fourth link that is available for you to click on displays all of your fees.
TurboTax Deluxe allows you to move forward and backwards, which is something that H&R Block Deluxe does not allow you to do. Their software requires you to finish a screen before you can move on to the next screen. Once you think you have entered everything that you were required to enter, TurboTax, as well as its competitors, will review your return, and if there were any errors or omissions that you have made, then you will know about it, but they will be revealed one at a time. TurboTax Deluxe only shows you the relevant portion of an schedule or form, and then you will be provided with a field where you can input your answer.
H&R Block Deluxe and TurboTax Deluxe are all online tax software that offers tax solutions. Before you buy any of the two, the best thing you can have is a comparison of the two for you to know which one of them serves your need best. In this article, we compare H&R Block Deluxe vs. TurboTax Deluxe based on the price, the extent of home support they offer, the kind of service they offer to self-employed tax payers, the audit support system and active investors. Hopefully, these areas will be sufficient to address all your concern regarding which of the two is best for you.
English: The headquarters of Intuit Consumer Tax Group at the northern end of San Diego. This is where Intuit develops its flagship tax return preparation product, TurboTax. (Photo credit: Wikipedia)
H&R Block Deluxe offers a lower price for federal and state online and desktop tax support. The system includes investment and retirement income at a cost that is between $10 and $40 more cost effective compared to Turbo Tax Deluxe. When it comes to self-employed support, the quality is the same only that H&R Block Deluxe cost less compared to TurboTax Deluxe. Similar cost differences for the same quality exist for audit and investment for the same quality of service.
The experience for both softwares in home support is similar. Both support systems allow the users access to online communities where questions regarding tax can be addressed with tax professionals. However, TurboTax Deluxe offers better support when it comes to answering questions on how to use the software. H&R Block Deluxe has a poor support that requires that you start a free return to get access to personal answer center. The center does not respond effectively to pre-purchase questions.
H&R Block Deluxe does not have a deduction finder and separate joint filing like TurboTax Deluxe. However, TurboTax Deluxe also has deficiencies in depreciation and import investment info that are present in its competitors. While H&R Block Deluxe lacks an auto error check it has loan and savings calculator that are not present in the TurboTax Deluxe help feature.
You cannot get form 8818 in TurboTax Deluxe and form 8834 in H&R Block Deluxe. The rest of the forms are available in all the support systems. TurboTax Deluxe differs with H&R Block Deluxe in support feature because it lacks instructional videos that H&R Block Deluxe has but has no blog. You can run TurboTax Deluxe in all platforms. However, H&R Block Deluxe is not compatible with android and windows 8. These considerations are sufficient for you to make an expectation of TurboTax 2014 and a competing H&R Block Deluxe version. Depending on your particular tax needs and technical consideration, select the support that will serve you best.
Tax preparation help at the library (Photo credit: Newton Free Library)
Filing your income taxes is one of those necessary evils that nobody looks forward to. It’s a time consuming, highly detailed process that typically requires several hours of your attention. Luckily, in today’s digital world, filing your taxes doesn’t have to be such a headache. Thanks to advances in technology, you can now work with an accountant to file your taxes from the comfort of your own home. There are a couple of different options for electronic filing that help you to save time and money when you’re doing your income taxes.
Virtual accounting
Let’s face it: we’re all busy and sometimes we just don’t have the time to sit through an hours-long appointment with a tax preparer. When you add in the time spent commuting across town and finding parking, in-person meetings can really start to add up. A number of firms out there that now offer virtual income tax preparation. Some even provide online drop off service, so that you can simply send all of your tax documents in electronically without ever setting foot in a physical office. Nothing is more convenient than that.
You can either choose to work with a large tax preparation service like H&R Block, or an accountant in your area that offers virtual tax preparation services. It’s simply a personal choice based on your comfort level and preferences. Either route you choose, it’s likely you will need to have some face time with your accountant. This can be done in a few different ways. The most common way to connect is through video conferencing that’s done via the web. Some accountants will also connect with you over the phone or through a chat feature that is offered on their website.
Scheduling time to talk via video conference, phone, or live chat ensures that your taxes will be prepared according to your needs and preferences. Generally, filing your income taxes virtually requires a simple conversation at the beginning of the process in order to hammer out necessary details before your accountant gets down to the nitty-gritty of doing your taxes. You then converse by email or phone if there are questions during the process or after the return has been prepared.
Tax preparation software
An estimated 81% of people in the United States filed their taxes electronically last year. While virtual accountants are starting to become more prevalent, it’s likely that the bulk of these individuals used tax preparation services to simplify the filing process. Tax preparation software has seen a surge in popularity over the past decade, with the development of popular programs like TurboTax by Intuit which allow you to complete the filing process online from start to finish.
The program’s popularity is largely attributed to its convenience. TurboTax provides an inexpensive, easy to follow, and convenient solution for filing your income taxes. You can simply download the software or purchase it at a nearby store, run it on your computer and begin entering information from your W-2s and other tax forms. It simplifies the deduction process by taking you step by step through common (and uncommon) tax deductions. Generally, the software helps to maximize your return because it covers all the bases with tax deductions.
If you don’t finish doing your taxes on TurboTax in one sitting, you can always come back to them. The program saves your progress online or on your computer, so you can simply pick up where you left off. Once you’ve completed your tax returns, you can file with the click of a button and opt to receive your refund electronically, or via paper check in the mail. You can also pay your taxes electronically if you end up owing money. It’s a highly convenient solution with little margin for error, and a great choice if you are not particularly confident in your skills when you’re filing taxes on paper.
Thanks to today’s technology, there are a few great ways to minimize the hassle of filing your income taxes, including Intercall’s virtual events and other tech options. If you would like to explore a more convenient solution for filing, look into options for virtual accounting or consider purchasing tax preparation software to simplify the process. Tax software will save you a lot of time and potential frustration!
