H&R Block or Tax Professional?
Before I became a CPA, I would always shell out a couple hundred dollars to have a tax professional prepare my tax returns. When I started to prepare my own taxes, I realized that most non-CPAs could just as easily prepare their own tax return. It certainly isn't rocket science and software now a day break it down step by step. How hard could it be? To be honest, it also doesn't take as long as you would think.
One the the major benefits of filing electronically is that you can maximize your refund. The software itself will guide you through the entire process so you don't miss out on any deductions you may qualify for.
Here is a sample screenshot of a prior version of H&R software.
What options does H&R Block offer?They have four categories. But I suspect the majority of you only need to concern yourselves with first three of them. That is the basic, deluxe, and premium.
What are the differences between the three?Basic - Simple Tax Situations
This is THE software for first-time users. For example, if you have a W-2 form and 1099s, the basic software will allow you to import those directly into your software. If you don't own a home or have stocks, this is the software you need.
Deluxe - Homeowners/Investors
If you own a home or have investment income, this version will help you maximize your mortgage and real estate taxes thereby reducing the overall taxes you need to pay. It also helps with stock options and stocks.
Premium - Self-employed/rental property owners
The premium has everything in the other two versions plus it has Schedule C guidance and rental income/expenses assistance.
Do you need to buy multiple H&R block software?No, with one software you can do your entire family's taxes!
Right NOW you can save 15%.
Save 15% on H&R Block At Home Online Basic