TurboTax is said to be the #1-rated, best-selling tax software in the nation.  Turbo Tax Free Edition includes free IRS e-file with which you can easily prepare your tax return and file income taxes online, now that is great service.  The one catch is that you do get to try it for free, but pay when you file!  I love that entry is free, but pay at the door. 

With Turbo Tax you get 5 options that allow you to cater for your needs.  These options include:

1. Free edition  i.e., 1040EZ & Simple Returns, this is sufficient for the majority of W-2 income earners.  State taxes are an additional $25.95 per state

2. Deluxe Package priced at $29.95, for Federal Tax Filing. State taxes filing are an additional $ $34.95 per state per state.  This a great package if you own a home, if you made any charitable donation or have had medical expenses.

3. Premier Package ($ 49.95) For Investments & Rental Property.  For those who own stocks, bonds, mutual fund and/or rental properties, Turbo Tax premier offers the biggest bang for you bucks.  State taxes are an additional $34.95/state.

4. Home & Business Package priced at $74.95 for Personal &Business All in One, Federal is included at no cost. There is an additional $34.95 for filing state taxes. If you’re a sole proprietor, consultant, contractor or single-owner LLC, TurboTax Home & Business is the right fit for you.

5. Business Corporations, Partnerships & LLCs Package is priced at $109.95. Included are federal and free e-file.  The additional State filing fee is also $34.95. If you have a corporation, partnership or multi-member LLC, TurboTax Business maximize your business tax deductions is a good fit.

Advantages of Turbo Tax Cut

-Step-by-Step Guidance

-Easy to use, easy to file, with extra help

-Asks easy questions in an interview format.  Questions that are customized to your situation, puts your answers on the correct IRS forms, checks for errors  

-Includes Audit Support Center

-For the early birds, Turbo Cut gets your W-2 and 1099 data directly from over 100,000 participating employers and financial institutions and puts it in the right forms for you

-Maximizes deductions for the biggest refund   

- Transfers info from last year’s TurboTax return to this year’s (if you used turbo tax) instantly.

-Turbo tax will import your financial info from Quicken® , Microsoft money, quick books to save you time

-Uncovers deductions for rental property 

-Provides guidance for investments 

-Provides guidance for self-employment income

A great tax preparation software is one that is thorough and easy to use, even for complex returns. That is what Turbo Tax offers.  It is a powerful, fast, accurate, easy to use piece of software. The program is well organized and everything is written in terms that everyone can understand.

Cons of Turbo Tax Cut

As with any piece of software, you can anticipate bugs and glitches.  Don’t make the mistake of buying or getting boot-leg copies. Viruses are plenty and now is not  time to try and cut corners.

Did you catch the Super Bowl ads?  You know H&R Block : Murray Ad? This ad had the message “be certain your taxes are done right with the H&R Block Second review? It is said is as certain as change, death and taxes! H&R Block did not skip a beat in reviving the old cliché the tax-man cometh, are you prepared?

One of the most publicized tax software programs is the H&R Block TaxCut.  It gets a 5 star rating for how easy it is to use. This multi-purpose tax software  is designed to maximize your deductions (the more the better). TaxCut gives you 5 free federal e-files and multiple returns and starts at  a very affordable $19.95 with the basic federal e-file.

With TaxCut you get 4 options namely:

1. Basic Federal +E-file ($19.95),  also known as Simple Returns/1040EZ.  You get:

• 5 free federal e-files
• State taxes come with an additional fee of $ $24.95

2.  Premium Federal +E-file ($34.95).  This is for those who do and have Itemized Deductions & Investments.  You get:

• 5 free federal e-files
• State taxes come with an additional fee of $24.95

3.  Premium Federal +State + E-file ($49.95).  This provides the biggest bang you’re your bucks.  You get both:

• Federal & State Taxes Preparation
• 5 free federal e-files
• 1 state tax program

4. Home & Business +E-file ($79.95)  This is a timely addition considering the rise in popularity of home based businesses.  It comes with 2 Complete Programs in One (for the W-2 and 1099 crowd). You get

• 5 free federal e-file  for personal taxes
• 1 personal & unlimited business states

Pros Of H&R Block TaxCut

* Comes with interview based questions, with directions on where to find the information

* Imports from financial software, so for those of you that keep records now is the time for pay-off for your preparedness

* Error checking.

* Guidance for investors and self-employed, the addition of the home business line is definitely a plus for many work at home business owners.

*Immediate download options and get this for both Windows and Macintosh! Which means you can choose from either downloadable or online tax preparation solutions.

*All versions include free eFile.

* H&R Block TaxCut can be purchased at any of your favorite stores from Amazon, Target to Wal-Mart!

* Audit support, which is a great plus in the event you are the chosen one.

* Tax professional assistance.

* Home & Business version for small business owners.

* Offers useful warnings and renders reminders

* You can spread out your work, it saves prior work done, so you can pick up exactly where you let off.

* It is Free to use ONLY if you have an adjusted gross income of $50,000 or less. AND you are age of 50 or less.

Cons Of H&R Block TaxCut

* As with any piece of software, you can anticipate bugs and glitches.  Don’t make the mistake of buying or getting boot-leg copies. Viruses are plenty and now is not time to try and cut corners.  Uncle Sam doesn’t play nice when it comes to its’ money that you worked so hard for!
   
* Compatibility with multiple browsers is still an issue.

The H&R TaxCut software comes highly recommended.  Remember to save all work done. Here is to bigger and better deductions for this tax season!