Quick and easy tax preparation in an updated interface, TaxCut is ideal for simple tax returns. H&R Block, the makers of TaxCut, have done a good job of making data entry screens easy to read. H&R Block offers "Worry-Free Audit Support" included in the price of the software. This means an H&R Block employee will help you defend your return against an IRS audit.
TaxCut is best for wage-earners and the self-employed
I was very surprised by the amount of time it took me to prepare a tax return using TaxCut Premium. In just 30 minutes, I prepared a fairly complex tax return, from start to finish. TaxCut's clean interface and short interview questions all helped speed things along. TaxCut also imports data from personal finance software, such as Quicken and Microsoft Money. Self-employed taxpayers will appreciate TaxCut's business assets and depreciation interview, which nicely handles deductions for business equipment.TaxCut removed their SEP-IRA planning calculator from this year's version of the software. TaxCut also removed their interactive calculators for estimated taxes, SEP-IRAs and other retirement savings.
Help Questions on Each Page
H&R Block has made tax and program help easier to access. On the right hand side of TaxCut are frequently asked questions relevant to the data entry screen you are on. On the W-2 input page, for example, TaxCut display help for handling incorrect W-2 forms and tips for reporting stock options. Unlike TurboTax, which uses a community model to answer questions, the answers in TaxCut are written by the H&R Block staff.TaxCut product versions
All versions of H&R Block's TaxCut software is the premium version. Differences are in how the software is bundled (with or without a state return or efile). Block also offers a Home & Business edition that includes TaxCut Premium plus software to prepare a business tax return and payroll returns. Thus TaxCut Home & Business is vastly more comprehensive of a software bundle than the similarly named TurboTax Home & Business which covers only sole proprietors.For their online software, TaxCut comes in Basic and Premium offerings.
More TaxCut Resources
From About Financial Software: More TaxCut Software Reviews:- CNET: "H&R Block TaxCut is relatively affordable and well-designed tax-prep software, although we found TurboTax's interview to be more direct and thorough."
- PC Magazine: "... a powerful program with lots of options for calculating taxes and doing tax planning."
