New Features For Tax Preparers

Most people have their tax forms or financial documents in hand at this moment in time and that means that they are ready to start preparing their taxes for 2014. This means that they might be looking at the latest online tax software from places like Turbo Tax and H&R Block for their online tax preparation needs. Unfortunately, the new features offered by the likes of these companies can be confusing and hard to understand.

One of the new features offered by Turbo Tax is it’s mobile experience. With the push of a few buttons and the click of a camera, users of iOS or Android mobile devices can do exactly what their tax preparing counterparts using a PC or Mac can do with the ability to switch to and from these mobile versions of tax preparation software.

Taxes this year, like previous years for the likes of H&R Block, Tax Act, and Turbo Tax, software is also being offered for free. Unlike past versions of these free software programs, there are a few more features provided to those not willing to dish out a little cash for the premium versions of products. Turbo Tax has even started waiving the extra charge on state tax returns while many other online software programs have yet to.

With the influx of online tax preparation software versions comes the deletion of the CD versions of these same programs. Why have an extra desk or two laying around when consumers can simply go to a website and download the software without the hassle of pushing a few extra buttons. Most companies have CD versions still available, but that may not be true in coming years.

With all the new features that Turbo Tax has to offer, once you pass the Turbo Tax login screen, you are definitely in for a treat.

The Tax Preparation Wars Have Begun

TurboTax Continues on With Its Own SuperBowl Ad

Intuit is the maker of Turbo Tax, a leading tax-preparation software. During the Superbowl, they aired their advertisement with no mention of the recent squabbles with furious customers over their software.

Rather than address the problem, Intuit chose to simply state the benefits of their program, which was being able to file both state and federal taxes for FREE. Their ad displayed a Boston Tea Party reenactment with a small twist to it. While angry American Patriots were swarming a British Ship, tossing large boxes of tea overboard, the British Redcoats were able to stop them by offering them FREE tax filing.

The patriots end up accepting their offer, and then the ad transitions to George Washington, who is reversing his famous Delaware crossing. The voice-over makes this statement – “Alright, maybe this is not the way it actually went down, however, you can still file your taxes on Turbo Tax for FREE !”

Turbo Tax lets it be known that 60 million Americans will be able to file their returns for Taxes 2014, both state and federal, for FREE. Their website states that this offer applies to those who use forms 1040A or 1040EZ. It says there is no charge for filing a state return or the forms used for filing the Earned Income Tax Credit (this benefits the working poor).

Their website also has a list of its competitors charges for the exact same services, like on TaxAct or H&R Block. Their entire campaign ignores the cries of the outraged customers over the Turbo Tax Deluxe package for personal computers. Lots of people were surprised to see that the Turbo Tax Deluxe software for 2014 taxes, did not allow the electronic filing of Schedule Cs for business, Schedule Ds fo both capital gains & losses, and Schedule Es and Fs for rental properties or farms.

What the customers had to do for these privileges was to ‘upgrade’ to a paid version of the software. The cost was $30 over and above what the Deluxe version costs. There were some disgruntled users who already bought software from some of Turbo Taxes competitors (H&R Block and TaxAct), so H&R Block came out with a free version of their Deluxe product to those who had already purchased a Turbo Tax version. It seemed the war was on. All these people had to do was show proof of their purchase and switch over to the other side. Let the games begin!

https://www.youtube.com/watch?v=8XTwbgmWRrA

Consider Investing In H&R Block – Soon!

In the past, many people have filed their taxes for free with H&R Block. January through April is H&R Block’s make-or-break season due to tax filings. The company brings in enough revenue in the early spring to cover any losses over the rest of the year. 2014 stands out as a year of smart, positive changes at H&R Block.

H&R Block

This year, the company has decided to downsize its unprofitable retail operations and cut down on free tax form preparation. As a result of these changes, there was a slight drop in tax returns prepared in H&R Block offices this tax season. Industry analysts polled by FactSet predict earnings per share of $3.26, quite an increase from $2.42 a year ago. This increase can be attributed to the aforementioned strategic changes at the company.

There are other changes happening within H&R Block in 2014. In April, the company signed a deal to sell its bank. This deal has been in the works for quite some time, and the stock market rejoiced upon the news. This is not to say that the bank is a drag on earnings. Selling the bank frees management from the burden of regulatory oversight on banks, and it gives people the option to buy back even more shares.

Another recent development at H&R Block is their plan to increase revenue as a result of the Affordable Care Act. As the law is implemented, health insurance and taxes are becoming more and more intertwined. Difficulties with connecting consumers to insurers presents an opening for H&R Block to expand its business model beyond tax preparation and financial services.

Despite the good news on the bank sale and health insurance opportunity, the company’s stock is still priced to sell. Get it below cost, before the stock price catches up to these recent improvements.

Tax Season Dates And Tips

The new tax season is approaching quickly, and now is the time to get helpful information about state and federal tax filing.

The recent government shutdown prompted the Internal Revenue Service to delay federal income tax processing until the end of January 2013. Income tax agents may complete your return prior to January 31st, but they will have to hold onto it until the 31st.

Federal refunds should still be received within three weeks if filed electronically and within eight weeks for paper returns. TurboTax 2014 may be a great resource to help you get ready no matter how you end up filing your 2013 or 2014 taxes.

State tax processing is scheduled to begin on January 22nd and 23rd, with a processing window of four to twelve days. Electronic processing may occur within four days, and paper returns may be processed within eight to twelve days. You still have the option of receiving a physical check or a direct deposit, but the electronic filing and direct deposit options may speed up the entire process for you. You may be anxious to file your taxes, but a good review with TurboTax 2014 may result in more savings than you ever imagined.

CPA Services in Honolulu

Downtown Honolulu, HI, view from Punch Bowl.
Downtown Honolulu, HI, view from Punch Bowl. (Photo credit: Wikipedia)

If you live in Hawaii, you’re truly living the high life. The soothing effects of the sea breeze will have a calming effect on the soul, and there’s something about the flora and fauna that transport you to another world. Hawaii is the perfect mash-up of rising industry and natural beauty. You may think that it’d be difficult to hold stress in a place that so many people vacation to for escape, but it’s still possible, especially when it comes to financial woes.

Tax time can be particularly stressful, and if you’re self-employed you may be at a loss of where to begin. That’s why professional services are available. They’ll provide the help you need to get the ball rolling right so that the hard part is behind you. One option is CPA Honolulu at Yuda.com. You can contact them online or over the phone for a consultation. They specialize in not only tax preparation, but accounting and consultation for blossoming businesses. Perhaps you’ve got an idea for your own business that you’ve been itching to start, and yet you’re not really sure what the best choices are moving forward. Hawaii is an excellent place for commerce. Tourism prompts a great deal of opportunity, and with the help of a certified public accounting firm, you can get all the advice you require to make your dreams come true. You can also get advice on investment opportunities as well. The last thing you want to do is invest in a venture that won’t get off the ground, and these professional services assist.

Filing Free Taxes Online: What You Need To Know

Filing Free 2012 Taxes Online: What You Need To Know

Are you interested in filing free 2012 taxes online? If so, you should know that TurboTax 2013 is the very best way to do it. This program makes it easier than ever to figure out your taxes so that you will not have to pay to go to an expensive CPA. Do you want to take home more of your return this year? Do not give it to someone to do work that you can do from your home computer. TurboTax comes with a number of features that are designed to make things simple for anyone, even if you do not have tax experience or education.

English: Logo of the Owner-Free Filing System ...
English: Logo of the Owner-Free Filing System / OFFSystem / OFF. (Photo credit: Wikipedia)

First of all, when you begin filing free 2012 taxes online, you get the option to save your work at any point. As you probably know from trying to sort through your taxes in the past, this whole process can take hours. Maybe you just want to use TurboTax 2013 for an hour a night, taking two or three days to get done. If you do not have a lot of free time between going to work and spending time with your family, you can just put in the time that you have and then save your work to pick it up later. You can cater the filing process to your schedule.

Next, you should know that filing free 2012 taxes online means that you do not have to print anything out, buy postage, and mail it to the IRS. You can use TurboTax 2013 to file electronically, which takes just seconds. This eliminates the risk of your paperwork getting lost in the mail and means that you could see your return much sooner than you would with the traditional process.

Finally, filing free 2012 taxes online means that you get to use powerful software that walks you through the process. Everything is phrased as a question, making it easy to understand. If you are still confused, TurboTax 2013 comes with an entire help section for clarification. No longer will taxes be the confusing mess that the paper forms have been in the past.