I’ve used H&R Block Online (formerly TaxCut) for 14 years and I’ve never had a problem of ANY sort with their tax preparation software, their electronic income tax filing, or their Worry-Free Audit support. But I’ve always wondered about using TurboTax. Was it easier to use? Was it more intuitive? Would it calculate my taxes any differently than H&R Block Online?
After purchasing TurboTax AND H&R Block Online for the current tax year, I was about to find out.
What’s new in tax preparation software
The buzzword phrase in tax preparation software this year seems to be “user-friendliness.” It’s all the rage and both TurboTax and H&R Block Online are fighting for the rights to claim that niche. What that means for you is your 10 year old could probably do your taxes. Yes, the language has been THAT simplified.
Both software packages allow you to import W-2’s and even some 1099’s. Both have refund meters, free basic return preparation, and support tools and services that they’re justifiably proud of and both offer tools to help you identify tax issues (consequences?) related to life changes. Both offer software upgrades that allow you to prepare your own corporate, partnership or LLC returns. But beware: there are many traps for the uninformed and uninitiated. Tax professionals receive up to 50 hours or more of training classes each year related to these types of returns and it isn’t because someone promises to bring doughnuts to the class. Business taxes are particularly complicated without a tax pro or software to help you out!
