TaxAct Online Review

If you ever worried about the fact  you do not have a choice when it come to online tax preparation sites worry no more. Very few companies have been providing consistent, quality service at a great prices to the tax paying population as TaxAct.  If  have heard only about the 2 big online tax companies, then you haven’t seen TaxAct!

The totally revamped TaxAct site for 2009 is really outstanding. If you crave simplicity of using a site, this is where you need to start.

TaxAct Usability

Navigation: One of the easiest navigation themes that we have seen - even surpassing Turbotax online and TaxCut online. On the right hand corner is the “Refund Meter” which shows the refund (or money you owe) in real time. Real time means that if you make a change on any part of your tax return the refund is immediately calculated.

Direct access to forms: If you are a bit savvy with tax forms, you will absolutely love the direct access to tax forms. You can directly go to any tax form from the “Forms List” menu in TaxAct. The forms are neatly categorized and displayed in a hierarchy making it easy to find a specific form.

Refund Meter: This one feature beats the trip to any CPA. This is the one key feature we use to distinguish between ordinary tax software and high end software. TaxAct has the refund meter which instantly recalculates your tax refund when you make any change to any data within your tax return.

Tax Calculation Process:

Taxact guides you through a very detailed interview process. The sections are divided into the following :

Basic Info, Life Events, Federal QA, State QA, Review, Filing

Starting with basic questions like your personal information and W2 information. Then it gets into the life changes section - and asks very specific questions about the changes in your life which impacts your tax situation - events like marriage, new born, divorce etc.  The Federal QA and State QA gets into the details of your tax deductions, credits, investment income and capital gains etc.

TaxAct Features:

TaxAct comes in 3 different flavors -  Standard, Deluxe and Ultimate. The standard version has free Federal e-file. The TaxAct Deluxe and TaxAct Ultimate versions come loaded with help, including J.K.Lassers Tax Manual and several proactive deduction maximizing features.

Help And Support

Software Help: JK Lasser has been providing tax help books for a while. In the dark ages when there was no internet and no online filin, JK Lassers books were the ultimate guide. For 2009, TaxAct contains the entire JK Lasser tax help guide available at your fingertips.

Live Help:

TaxAct offers live support 8 am to 9 pm M-F, 8am-5pm Sat, and 12pm-5pm Sun. Knowing that you have an actual person to talk to when you do your taxes online should give you some peace of mind.

TaxAct Pricing:.

TaxAct beats almost everyone else when it comes to online State Tax Filing. So here is great tip.. If you are eligible to Free File at the IRS site, you can complete your Federal filing and then head over to TaxAct to do your State Tax Filing. See prices for Online State Tax Filing at TaxAct.

Federal and State combinations are packaged at very reasonable fees. The TaxAct Standard package is FREE, the TaxAct Deluxe and TaxAct Ultimate package is priced at $10 and $17.  Both these packages are the lowest prices for online tax filing.

HR Block At Home (TaxCut) Online 2009 Review

For 2009 HR Block has completely re-invented their product line, including retiring the old name ‘TaxCut‘.

So TaxCut is now known as HR Block At Home

In these tough economic times, a lot of people are looking for some help. This is not one of the years where anyone wants to be stuck with a huge tax bill.

Preparing your own tax return can save you hundreds of dollars. But getting to know which tools are available out there is important. As someone said “If I have to chop down a tree in 6 hours, I will spend 4 hours sharpening my tool”. TaxCut for 2008 is one such tool that will help you prepare your taxes - error free.

Getting to know what you get is important. If this is the first year you are preparing your taxes or if you are a veteran, HR Blocks At Home is a great tool.

H&R Block the manufacturers of AtHome has been around for several decades. In fact they are the nations oldest tax preparation firm. Drive down almost any city and you will find HRBlock offices at a major intersection - where you can do almost anything from doing employee payrolls to preparing your tax return.

AtHome is the the tax preparation software from HR Block. For 2009 HR Block has revamped their site. You can find the boxed software at most major retail stores. This requires you to buy the software, install the CD and then run the application. But there is an easier way. The same software is also available online.

With the online version, you do not need to install the software from a CD, but you can prepare and file your complete tax return over the internet right from your browser.

If you have a internet connection and a little bit of time, you can prepare your taxes online without paying an accountant huge fees.

At Home Online comes in the following flavors :

Which Version to Choose
Each of the HRBlock AtHome software is tailored to a different audience.  The AtHomeBasic (Free)  is most suited if your tax situation is fairly simple. If you are single or married, no kids or dependents, have a job and do not own a home, this will probably work for you.

The AtHome Deluxe version is valuable when you are a home-owner or have significant investment activity (stocks, bonds and such). The deluxe version will guide you through the investment situation with ease.

The AtHome Premium version goes one step further than the Deluxe and works well if you  own rental properties and need the appropriate forms and guidance for it.  It is also intended for  a small or home based business. It has all the features of the Deluxe  versions, and in addition it also takes care of your business related filing needs. The program walks you through your business deductions and  the schedule-C form is  generated. All you have to do is walk through the questionnaire.

Whats New for 2009 HRB
This year HRB has a new program that allows you to do your own taxes and then connect to a tax pro to have them verified. This new feature distinguishes HRB  from other online tax preparation sites.   This is an excellent feature for people who like to have their tax return physically reviewed by a tax pro  and at the same time save some money by preparing their tax return online. A combo deal that is surely a good value!

What exactly is Efile ?
Efile is the electronic transmission of your tax return to the IRS. What this means is with e-file you do not have to print and mail your tax return, instead, the tax preparer transmits the tax return on your behalf. Efile is available for your federal tax return and your state return too.

Most tax preparers including CPA firms usually charge extra for e-file, but online tax preparation sites like HR Blocks At Home online include e-file for free. In the case of  AtHome (Taxcut), you can e-file upto 5 tax returns (for your 2009 tax return)

Turbo Tax 2009 Online - Review