Essential Information About TaxAct and TurboTax Programs

2014 is gone and being a new year; you should begin thinking about preparing and filing your federal taxes. Tax preparation and filing can consume a lot of your time if you have no experience doing so. However, if you get the right tax programs such as TaxAct and TurboTax, then you are ready because you will file the taxes in the shortest time possible. Besides, you will have no worries since the programs will guide you all through the process.

There are a few changes in the tax code, but these tax programs have been adjusted to suit the new system. Currently, TurboTax has a limited-time discount for the simple filers; 1040EZ/A filers that are,you are capable of filing your federal and state taxes free of charge. Isn’t that good enough for simple filers? There is no promotion or discount codes required to enjoy the offer. You simply need to file your taxes with the TurboTax Federal Free Edition. It is not clear when the promotion will end hence it would be prudent to be among the first people and enjoy the benefits.

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It’s wise to understand some changes that TurboTax has made in its packages though. The sections for filing Schedule C, D and E are now excluded from TurboTax Delux package. The Schedule C includes self-employment income and expenses; Schedule D is investments filing, and Schedule E entails the partnership and rental income filings. The Schedule D and E are now found in the Turbo Premier and other higher packages while on the contrary the Schedule E is found in Home and Business edition only.Irrespective of the significant changes, TurboTax is very reliable and intuitive. The software is simple to use and you can use it for complex filings both for professionals and independent users. In addition, it imports information, offer quick calculations, and give you audit risk and refund.

TaxAct is very affordable yet its features are just effective as other programs. It offers even learning materials and mini-alerts that identify errors that can help you in audit risk identification and give the best recommendations to take. By this, you are sure of accuracy of your tax filling even with the simple process. Just like TurboTax, TaxAct offers superior value and is suitable for both simple and complex tax returns for individual users and institutions.

These tax programs enable you file your taxes online, and they bring you many benefits. For instance, you can save money that you might have paid an accountant to do the job for you. Secondly, you save time when you use for example TurboTax company because you can take even 30 minutes only to finish your tax filing. In addition, you don’t have to leave the comfort of your home since you don’t have to book an appointment with an accountant. In addition, the process enhances your financial situation awareness because you can observe your income, expenditures and assets that you have had for the whole year.

Customer The Ultimate Winner In Battle Royale Between H&R Block & Turbo Tax

H&R Block & Turbo Tax Battle: A full-fledged war is never a good thing, except when two corporations are battling it out. H&R Block attempts to poach users of TurboTax and the latter’s attempt to retain its clientele has led to a pleasant surprise— lots of freebies for customers including you.

The battle began when the TurboTax Deluxe 2014 edition received around 500 one-star reviews on Amazon from irate customers who felt cheated upon discovering that the 2014 Deluxe edition did not allow users to file Schedule C and D forms used to report investment and small business income. Customers were annoyed that they were indirectly being forced to upgrade to a costlier version of TurboTax.

Tax prep giant H&R Block decided to fish in troubled waters by promising to give their Deluxe tax prep software for free to all those individuals who have bought the Basic or Deluxe edition of TurboTax 2014. Curiously, H&R Block has avoided making this promise on its website and has preferred to spread the word through the media.

All H&R Block asks for is proof that the individual had indeed purchased the Basic or Deluxe version of TurboTax. A quick email to [email protected] along with name, address, contact number, OS specs—Mac or Windows, and a scan or email indicating purchase of TurboTax is enough for you to enjoy the unabridged version of H&R Block’s Deluxe edition.

Stung by the virulent criticism and H&R Block’s attempt to poach its customers, the VP of TurboTax, Bob Meighan reiterated that the company plans to do all it takes to retain its customers. The company is indicating that it is open to providing a free upgrade to Deluxe customers who feel cheated after having purchased the software.

TurboTax has sought to quickly counter H&R Block’s strategy because tax software customers rarely consider switching after getting used to a particular brand. Even if the functions are similar, customers often develop a psychological block about using a new program after getting used to a particular brand.

Yet, this is probably the best opportunity for TurboTax users to take a peek at what H&R Block is all about. Even those who spent $20 on TurboTax Basic will end up receiving free access to H&R Block’s Deluxe version, which costs around $55. Cost benefits apart, the customer will also enjoy access to a new user experience.

With average value of a tax refund hovering around $3000 and the cost of tax software deductible for those who itemize their deductions, this battle between two tax prep software companies is turning out to be a win-win situation for the customer.