TaxCut from H&R Block 2001 Deluxe Filing Edition

November 19th, 2009 abadmin Posted in Taxcut | No Comments »

Fun isn't the first thing that comes to mind when preparing your taxes. TaxCut Deluxe won't change this; however, it can make the process easy and painless. Plus, the software is backed by one of the most recognizable names in accounting: H&R Block.

TaxCut Deluxe installs quickly, and before long you're on your way. Be sure to follow the prompts to update the tax forms, worksheets, and publications in the software to meet the final IRS requirements. You can get the update free of charge over the Internet. TaxCut gives you a jump-start on filling out your tax forms with options to import tax and financial information from Microsoft Money, Quicken, and last year's TurboTax or TaxCut federal return. It will also import your W-2 wage and 1099 investment data from participating employers and financial institutions.

You enter information via a simple question-and-answer interview process. Along the way, you'll be cued for possible deductions, and a meter allows you to follow the status of your refund or the amount due as you enter data. Instant interview help is available at any time should the questions get trickier. At the end of the interview the software performs its own audit, searching out missing information or items that may trigger an IRS audit. During our test run, it found a missed deduction and flagged some data that was input incorrectly.

If you're not comfortable with the results, for $29.95 you can send your return to an H&R Block tax advisor who will check it over and answer questions. When you're finished, you can file the return electronically or print the completed forms for mailing.

Once your federal taxes are complete, you have the option of purchasing TaxCut State software--free with the included rebate--from within TaxCut Deluxe. The program will then automatically fill any necessary federal information into your state return. The package also includes rebates that give you a free e-filing and a free copy of Microsoft Money Standard (up to $34.95). And if you think this software becomes useless after your taxes are done, you're wrong. The Deluxe version comes with a built-in tax and financial library that contains information on buying and selling a home, investing, and retirement. It also includes financial planners for education and retirement.

The elimination of mathematical headaches and confusing jargon alone is worth the price of TaxCut Deluxe. Throw in ease of use, a library of financial information, rebates, and the possibility of finding a missed deduction, and you may actually enjoy doing your taxes. --Joshua Goldman

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