Tax Preparation

Ratings and Reviews of Tax Preparation Software and Services

Tax Preparation Software and Services

If its about taxes, you know it's important. Anyone who has ever been audited knows too, how important accuracy and good advice is in preparing your business (or personal) tax returns. Therefore, if you aren't comfortable preparing your business' taxes yourself, don't be shy, hire a good accountant (preferably one using the same accounting software you use!). If however, you like being in control (like some of the folks at this company!), there is very good software on the market to help you file your business tax forms.

A few things to remember if you are going to "go it alone"....

If you plan to do your accounting and tax reporting, we recommend that you choose your accounting and tax preparation software from the same manufacturer. This will cut down on incompatibilities and smooth the "tech support" process if you do run into trouble.
Make sure your software includes all the forms you need for the type of company you are operating - sole proprietorship, partnership, LLC, "C" corporation or "S" corporation (or non-profit organization).
Software updates are critical in tax software. Make sure that your tax software has an easy way for you to update the software (trust us, you'll do it more than once!) - especially with all the tax code changes that have been occurring over the past couple of years!
Integration with your accounting program is critical. If you are not using software from the same manufacturer, make sure that your tax software is compatible with your accounting system's software for quick importing of company data. How? One of the best ways is to go to the tax preparation company's web site and check out their FAQ on importing data from your accounting program. Does it look easy? Are there too many steps? Do you have to reformat anything? Make sure you're comfortable with the process before you purchase the software!

Web Home Office Reports
Is the software's "advisor" easy to understand and work with? If you don't understand the question - there's a good chance you could make an costly error. Check out demos on the vendor's web site to make sure you're comfortable. Talk to your friends and colleagues and see whether they found the software's tax instructions helpful.

Ready to focus on your taxes? We're off!

Some vendors offer more than one package in this category. We'll review them in table format within that vendor's detailed review.

Tax Preparation Software and Services

Tax Preparation Software*

(Rankings - best, 5 symbols, worst, 1 symbol)

Company	Best For*	Simple Start-Up	Costs	Time Savings	Ease of Use	Works With	Support	Features	Overall Rating
Complete Tax	ARP	¹¹¹¹1/2	$$$$	¹¹¹¹	@@@@	YYYYY	pppp	iii1/2+	%%%%
H & R Block	ARP	¹¹¹¹	$$$$1/2	¹¹¹¹	@@@@	YYY	pppp	iiii	%%%%
Intuit	ARP	¹¹¹¹	$$$$	¹¹¹¹	@@@@	YYY1/2	pppp1/2	iiiii	%%%%1/2
Tax Brain	ARP	¹¹¹¹1/2	$$$1/2	¹¹¹¹	@@@@	YYYYY	pppp1/2	iiii	%%%%+
TimeValue	P	¹¹¹1/2	$$$	¹¹¹¹	@@@	YYY	ppp1/2	iii1/2	%%%1/2

* A = Amateur, R = Rookie, P = Pro

CompleteTax

Simple Start-Up - ¹¹¹¹1/2

No software installation for this service - just point your browser at the CompleteTax site and start entering the data to complete your Federal or State Income Tax Return.

Cost - $$$$1/2

CompleteTax Federal returns are priced at $25.95, State returns at $12.95 - e-filing is free and Federal Extensions are $9.95.

Software	Price	O/S Supported	Overview	Features	Compatibility
*CompleteTax*	$25.95 Federal, $12.95 State, Free e-filing, Federal Extension $9.95	Browser-based service	Tax preparation online service	Electronic returns Financial calculators W-4 Home Finance Personal Finance Investment Retirement Leasing Online tax reference guide Free "tips" newsletter Guaranteed security and privacy Online chat to ask for help from tax experts Tax projector Email support Ernst & Young Tax Guide 2007

Time Savings - ¹¹¹¹

If you are going to do your business' taxes, doing them manually, in our minds, is NOT an option! Maybe a service like CompleteTax's is for you!

Ease of Use - @@@@

The browser-based interface and online chat service to get answers to your questions "instantly" make CompleteTax a "usability" winner.

Works With - YYYYY

Just bring your browser!

Support - pppp

CompleteTax's web site includes a FAQ, and lots of tax-related reference material. If you need help, you can email CompleteTax or do an "online chat" with them for a more immediate response.

Features - iii1/2+

A service targeted more at individuals than businesses - however, we do like all of the reference material available on the site as well as the interactive calculators.

Overall Rating - %%%%

A very good alternative to the "old stand-bys" - and you don't have to install any software on your system either!

H & R Block

Simple Start-Up - ¹¹¹¹

Whether you're using H&R Block's TaxCut software or their online Tax Plus Self-Employed Edition, the software/service is easy to install and use. Preparing your taxes is as easy as possible. H&R Block also offers three online tax preparation services but all are targeted for personal income tax return preparation only.

Cost - $$$$1/2

H & R Block's product pricing is detailed in the table below.

Software	Price	O/S Supported	Overview	Features	Compatibility
TaxCut Home and Business	$89.95	Windows 2000, XP, Vista Macintosh OS X 10.3.9 or later	Tax preparation software	All features of TaxCut Premium Federal + State + E-file Business coverage - corporations, S corporations, partnerships, LLCs, non-profits, estates and trusts, payroll tax returns included Business tax planner Business depreciation assistance 1099-MISC/W-2 preparation K-1 preparation
TaxCut Premium + State	$39.95	Windows 2000, XP, Vista Macintosh OS X 10.3.9 or later	Tax preparation software	Federal program One state program Deduction Pro Auto import Audit support Easy interview Error check E-fileng Customized tax advice Charitable donation help Schedule C support, Business expense assistant Investor guidance IRS publications Tax tips videos
Deduction Pro	$19.95	Windows 2000, XP, Vista Macintosh OS X 10.3.9 or later	Deduction planner	Deduction itemization Donation tracker Import from TaxCut or the previous year's Deduction Pro Deduction assistance Tax form 8283 Printable worksheets Detailed reports Export data to TaxCut software
TaxCut Premium + State + E-file	$69.96	Windows 2000, XP, Vista Macintosh OS X 10.3.9 or later	Tax preparation software	Federal program One state program One Federal e-file One state e-file Deduction Pro Auto import Audit support Easy interview Error check E-fileng Customized tax advice Charitable donation help Schedule C support, Business expense assistant Investor guidance IRS publications Tax tips videos
TaxCut Premium	$19.95	Windows 2000, XP, Vista Macintosh OS X 10.3.9 or later	Tax preparation software	Federal program Deduction Pro Auto import Audit support Easy interview Error check E-filing Customized tax advice Charitable donation help Schedule C support, Business expense assistant Investor guidance IRS publications Tax tips videos
TaxCut Premium + State + E-file Online	$49.95	Browser-based	Tax preparation service	Federal program Free federal e-file State program One free session with a tax advisor (8 AM to 11 PM CST) Free state e-file Federal data transfer Itemized deductions Business expense assistant Investor guidance Multimedia video advice IRS publications
TaxCut Premium + E-file Online	$19.95	Browser-based	Tax preparation service	Federal program Free federal e-file State program additional $24.95 One free session with a tax advisor (8 AM to 11 PM CST) Itemized deductions Business expense assistant Investor guidance Multimedia video advice IRS publications
TaxCut Basic + E-file Online	$14.95	Browser-based	Tax preparation service	Federal program Free federal e-file State program additional $24.95 Step-by-step interview Imports from TaxCut Online, TaxCut Software, TurboTax Software and H & R Block offices Advice for changing tax situations Payment options
H & R Block Signature Online	$79.95	Browser-based	Tax preparation service	Federal program Free federal e-file State program additional $29.95 Ask a Tax Advisor unlimited sessions included, available year round H & R Block tax professional reviews, edits, signs and e-files return Notes to tax pros
H & R Block Online Office	Starting at $99.95, State additional $29.95	Browser-based	Tax preparation service	Full-service tax preparation Unlimited Ask a Tax Advisor sessions Year round assistance

Time Savings - ¹¹¹¹

If you are going to do your business' taxes, doing them manually, in our minds, is NOT an option! Get some software, use a service! TaxCut and other H & R Block services ARE options.

Ease of Use - @@@@

TaxCut software and the online services work hard to make it easy for you to prepare your business and personal taxes.

Works With - YYY

The H&R Block business tax products are designed for the Windows environment only (personal tax programs are written for Macintosh as well).

Support - pppp

The H&R Block web site has tons of good information to help you prepare your return(s) as well as answer technical questions you might have regarding their software or service. Tools & Tips, tax information, customer support, all have a wealth of information in them. If you run into something that the knowledge base or FAQ can't answer, you can email technical support. They guarantee a 48 hour turn around to your question.

Features - iiii

The H&R Block software and services are well designed to aid "non-complex" companies to prepare their federal and state returns. Lots of useful information - and advice - most centered on sole proprietorships and partnerships. Lots of product and service options to choose from based on your individual needs.

Overall Rating - %%%%

Hey, it's H&R Block after all - they SHOULD understand taxes and tax preparation. We recommend H&R Blocks software and services - both are sound, both will do the job. Good software and services at a good price - lots of good advice!

Intuit

Simple Start-Up - ¹¹¹¹+

TurboTax products install easily, fast and include tutorials, wizards and videos to aid you in preparing your return(s) quickly and correctly. The online services do not require installation of any software - just use your browser.

Cost - $$$$

Intuit's tax product pricing is outlined in the table below.

Software	Price	O/S Supported	Overview	Features	Compatibility
TurboTax Free Edition Online	Free	Browser-based	Federal Tax preparation service	1047EZ only Prepares and fills out IRS form eFiles return
TurboTax Online Basic	$14.95	Browser-based	Tax preparation service	EasyStep interview and error check Year-to-year data transfer E-file or print on plain paper Federal only	Quicken, QuickBooks
TurboTax Online Deluxe	$29.95	Browser-based	Tax preparation service	EasyStep interview and error check Year-to-year data transfer E-file or print on plain paper Federal only ItsDeductible included Deduction Maximizer Center Summary of deductions	Quicken, QuickBooks
TurboTax Online Premier	$49.95	Browser-based	Tax preparation service	EasyStep interview and error check Year-to-year data transfer E-file or print on plain paper Federal only ItsDeductible included Deduction Maximizer Center Summary of deductions Help for sales of stocks, bonds, mutual funds, employee stock options, ESPPs Tax saving tips for IRAs and 401(k)s BasisPro tracks and calculates historical cost basis Extra guidance for rental property income and expenses	Quicken, QuickBooks
TurboTax Online Home & Business	$74.95	Browser-based	Tax preparation service	EasyStep interview and error check Year-to-year data transfer E-file or print on plain paper Federal only ItsDeductible included Deduction Maximizer Center Summary of deductions Help for sales of stocks, bonds, mutual funds, employee stock options, ESPPs Tax saving tips for IRAs and 401(k)s BasisPro tracks and calculates historical cost basis Extra guidance for rental property income and expenses Expanded Schedule C guidance for sole proprietors, self-employed, consultants, 1099 contractors and single-owner LLCs Maximizes business, vehicle and home office deductions Categorizes expenses and provides examples Guides through calculation and reporting depreciation of business assets	Quicken, QuickBooks
TurboTax Basic	$19.95	Windows 2000, XP, Vista	Tax preparation software	EasyStep Interview and Error Check Year-to-year data transfer e-file or print on plain paper	Quicken, QuickBooks
TurboTax Deluxe	$44.95	Windows 2000, XP, Vista	Tax preparation software	EasyStep Interview and Error Check Year-to-year data transfer e-file or print on plain paper One TurboTax State product download included ItsDeductible included Deduction Maximizer Center Summary of deductions	Quicken, QuickBooks
TurboTax Premier	$74.95	Windows 2000, XP, Vista	Tax preparation software	EasyStep Interview and Error Check Year-to-year data transfer e-file or print on plain paper One TurboTax State product download included ItsDeductible included Deduction Maximizer Center Summary of deductions Help for sales of stocks, bonds, mutual funds, employee stock options, ESPPs Tax saving tips for IRAs and 401(k)s BasisPro tracks and calculates historical cost basis Extra guidance for rental property income and expenses Help for refinancing rental property	Quicken, QuickBooks
TurboTax Home & Business	$89.95	Windows 2000, XP, Vista	Tax preparation software	EasyStep Interview and Error Check Year-to-year data transfer e-file or print on plain paper One TurboTax State product download included ItsDeductible included Deduction Maximizer Center Summary of deductions Help for sales of stocks, bonds, mutual funds, employee stock options, ESPPs Tax saving tips for IRAs and 401(k)s BasisPro tracks and calculates historical cost basis Extra guidance for rental property income and expenses Help for refinancing rental property Expanded Schedule C guidance for sole proprietors, self-employed, consultants, 1099 contractors and single-owner LLCs Maximizes business, vehicle and home office deductions Categorizes expenses and provides examples Shows start-up costs new businesses can deduct Guides through calculation and reporting depreciation of business assets	Quicken, QuickBooks
TurboTax Business	$99.95	Windows 2000, XP, Vista	Tax preparation software	Easy-Step interview Simple navigation with two-tier format Depreciation guidance One-click updates Deduction finder Audit alerts Final review/error check K-1/W-2/1099 preparation Accountant checklist Transfers federal data to Business State Telephone support Tax and program help IRS publications Tax Savvy for Small Business guide Video tax advice Live tax advice	Quicken, QuickBooks
TurboTax Business State	$49.95	Windows 2000, XP, Vista	Tax preparation software	Instantly transfers data from TurboTax Business federal return to state Asks simple questions and completes state-approved forms Automatically double-checks state return for errors and omissions Prints state tax forms	TurboTax

Time Savings - ¹¹¹¹

Intuit delivers a solutions to meet a variety of business needs. All are designed to help you make your business more efficient and profitable - and avoid errors and audits of your returns.

Ease of Use - @@@@

TurboTax products are very easy to use. Videos, wizards and the interview process make it a "snap" to prepare your taxes (well, at least as "painless" as is possible!)

Works With - YYY1/2

TurboTax Home and Business works in both Windows and Macintosh environments. TurboTax Business is a Windows only application.

Support - pppp1/2

For the TurboTax Home and Business and TurboTax Business products, Intuit has an extensive tech support web with a comprehensive knowledge base. They also offer online chat for immediate assistance or, you can pay $14.95 for telephone support (plus long distance charges).

Features - iiiii

Intuit's pricing looks a bit high until you see all the feature and functions available in their software. By far, their software is packed with functions, especially in the Business package, that are unavailable anywhere else. The online services are great for folks who don't want to hassle with software - and you can do your taxes from anywhere where you can connect to the Internet - even your local Starbucks.

Overall Rating - %%%%1/2

TurboTax Business is the "gold standard" in business tax preparation packages for the small business owner. And frankly, if you use QuickBooks as your accounting program, it's really a "no brainer" to choose TurboTax Business for your tax preparation need. We at Home Office Reports have used QuickBooks Pro to operate the business from its inception 11 years ago. and TurboTax Business for tax preparation (smooth, smooth integration and importing and exporting of files!) - and have never had anything but the best of experiences with the software and support from Intuit. Accounting and tax preparation software are the foundation of your business - paying a few dollars more for Intuit's software is, in our minds, a good investment.

Tax Brain

Simple Start-Up - ¹¹¹¹1/2

No software installation for this service - just point your browser at the Tax Brain site and start entering the data to complete your Federal or State Income Tax Return.

Cost - $$$$1/2

Tax Brain offers a number of tax preparation related services. Pricing is outlined in the table below.

Software	Price	O/S Supported	Overview	Features	Compatibility
*Federal Tax Preparation*	1040EZ $19.95, 1040 A $29.95, 1040 Basic $39.95, 1040 Expanded $49.95, 1040 Premium $69.95	Browser-based service	Tax preparation online service	1040EZ - basic return for single or married taxpayers to report general wages, unemployment and W2 income under $100,000.00 1040 A - expanded form the EZ to include educator expenses, IRA deductions, student loans, tuition and fees deductions 1040 Basic - includes the full 1040 long form, Form 4137 unreported tips and Schedule A 1040 Expanded - includes forms 2106, 4684, 4952, 5329, 6251, 8606, 8880, Home Sale Worksheet and Schedule D 1040 Premium - includes forms 4136, 4562, 4797, 4835, 6198, 8582, 8829 and Schedules C, E, F and SE
*State Tax Preparation*	$19.95 to $29.95	Browser-based service	Tax preparation online service	State tax return preparation
*Safe Keeping*	$9.95	Browser-based service	Return storage service	Store tax returns for 5 years Available 24 hours per day, 7 days per week
*Bound Copies*	$19.95	N/A	Hard copy of returns	Two bound file copies of tax returns sent via mail
*smartCoverage Audit Defense*	$34.95	N/A	Audit defense	If audited and required to appear before tax authority, Tax Brain provides professional assistance
*QuickAccess Standard*	Paper Check $41.00, Direct Deposit $30.00	N/A	Loan based on refund	Get refund in advance from Tax Brain
*QuickAccess 2-Day*	$300-500 - $59.00, $501 - $1,000 - $74.00, $1,001 - $1,500 - $99.00, $1,501 - $2,000 - $114.00, $2,001 - $5,000 - $139.00	N/A	Loan based on refund	Get refund in advance from Tax Brain Money available in as little as 24 hours

Time Savings - ¹¹¹¹

If you are going to do your taxes, pushing paper is just too time consuming! Maybe an online service like Tax Brain's is for you.

Ease of Use - @@@@

The browser-based interface make this a highly usable service.

Works With - YYYYY

Just bring your browser!

Support - pppp1/2

Tax Brain's web site includes a searchable knowledgebase and live "chat" with tax experts. You can also get help via email and at Tax Brain's "800" number, Monday through Friday from 9 AM to 4 PM Pacific.

Features - iiii

A service targeted more at individuals than businesses - however, they offer some "nifty" capabilities like tax return storage, bound copies, audit defense - and even access to your refund in two days or less.

Overall Rating - %%%%+

If you don't want to load up your PC with more software and you need your refund fast - a very good solution!

TimeValue

Simple Start-Up - ¹¹¹1/2

O.k., it even looks like old Windows applications. Not too complex but not very slick.

Cost - $$$

Pricing for TimeValue software is outlined in the table below.

Software	Price	O/S Supported	Overview	Features	Compatibility
TaxInterest	$149.00, additional users $99.00 each	Windows 98, 2000, ME, XP, Vista	Calculate tax penalties and interest	Check IRS numbers when interest and penalties are assessed Determine total amount due with a late return or settlement Includes IRS interest rates, underpayment rate, refund rate (GATT rate), motivated tax rate and large corporate underpayment ("Hot" interest) rate Interest rates and calculation methods from 1954 to present Automatic computations for failure-to-file, failure-to-pay, negligence, fraud, substantial understatement Multiple-year deficiencies Rates and methods for 35 states Comprehensive reports
File In Time	$299.00, additional users $99.00 each	Windows 98, ME, NT, 2000, XP, Vista	Track filings and projects	Displays all filing tasks and due dates Status and responsible staff Soft by client, service, due date or staff Task and status reports Custom services and due dates	Microsoft Excel
Tax 941	$149.00, additional users $99.00 each	Windows 95, 98, ME, NT, 2000, XP, Vista	Penalty computations and ready-to-file payroll tax forms	Check 941 forms to ensure accuracy and avoid penalties Calculates 2%, 5%, 10% and 15% penalties 5% late filing penalty 0.5% and 1% late penalty payment IRS interest Predicts deposit due dates Prints ready-to-file 940, 941, 941c, 943, 945 and Schedule B forms
PayrollPenalty	$149.00 per year, additional users $99.00 each	Just bring your browser and a high speed Internet connection	Online tax penalty calculation service	Check IRS numbers when interest and penalties are assessed Determine total amount due with a late return or settlement Includes IRS interest rates, underpayment rate, refund rate (GATT rate), motivated tax rate and large corporate underpayment ("Hot" interest) rate Interest rates and calculation methods from 1954 to present Automatic computations for failure-to-file, failure-to-pay, negligence, fraud, substantial understatement Multiple-year deficiencies Rates and methods for 35 states Comprehensive reports
TValue 5	$149.00, upgrade $119.00, additional users $99.00 each	Windows 98, ME, NT, 2000, XP, Vista	Amortization Software	Amortization schedule development Mortgages, loans leases Present and future values Computes rate of return Adjustable rates Skip payments Investment yields Irregular cash flows Prints amortization schedules Prints APR Reg. Z disclosures

Time Savings - ¹¹¹¹

If you are dealing with IRS penalties, payrolls for multiple clients and tax preparation for a number of customers - these software tools could be big time savers.

Ease of Use - @@@1/2

This software has been around for a while and it shows. It's usable and does what it says it will.

Works With - YYY

TimeValue Software is designed for the Windows environment.

Support - ppp1/2

Not a lot of help on their web site - but all their software and services come with one year free tech support. A big PLUS in an industry charging for every call.

Features - iii1/2

You're really paying for the database of historical calculations and penalty methods. If you need them....

Overall Rating - %%%1/2

With the TimeValue software, as noted above, you are REALLY paying for the database that holds all of the years of interest rates and penalty application methods - so you can apply them to the particular situation you are dealing with (hopefully with a client!). If you need these capabilities -you'll pay so....

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Tax Preparation Software and Services

Tax Preparation Software and Services