Bill Cobb, CEO of H&R Block shared on Tuesday that he likes the tax reform plans that President Donald Trump has devised, and the proposed replacement initiated by Republicans for the Affordable Care Act. Cobb spoke after the first half of tax season results for H&R Block were reported.
Trump proposes to lower individual and corporate tax rates. In addition, the American Health Care Act which was released on Monday to replace “Obamacare” includes tax credits which can be used to pay for health care. There are also other changes to the tax returns.
While Trump had said that H&R Block may not be happy about the plans for simpler taxes, Cobb is confident that customers will continue to use H&R Block’s services. Cobb also shared his perspective on the benefits of a lower corporate tax rate for H&R Block, which usually pays a 35% tax rate.
H&R Block reported that its revenue decline could be attributed to an overall decline in IRS tax filings in the first half of the tax season. If this trend is realistic, then H&R Block would have been afforded a smaller number of customers. The IRS reported that up to February 24, filings were down by 10%. H&R Block’s e-filing dropped by 7%; however the company shared that it increased its market share via the assisted and self-preparation customers.
This market share gain is expected to level off after the company ceases its free 1040EZ filing and advance loans based on expected refunds at the end of February.H&R Block’s returns decreased by 2.7% compared to last year’s 10.635 million returns. Also, a decline was noted in the assisted service offered by the company-owned and franchise units. However, H&R Block’s digital tax entity saw an increase from 3.626 million returns last year to 3.637 million returns up to February 28.
Recently, TurboTax agreed to collaborate with Earnest to assist students with student loan savings. The idea sounds promising. Besides, the merger promises to promote Earnest’s refinancing tools and to suggest a rate tailored to their tax return. However, the merger proves more problematic than seamless. Does it really benefit tax filers?
The deal comes into play when tax filers claim the student loan interest tax deduction. The ‘related offer’ shows up on the screen, asking for your consent to view the offer. If accepted, the offer appears after the tax return is complete. It begins by asking for consent on sharing tax information with Earnest. Next, Earnest shows its offer: a detailed refinancing estimate. Agree to this offer and you then go to Earnest’s website to fill out an application and credit check. In closing, Earnest’s process allows borrowers a chance to lower interest rates and/or shorten the repayment deadline. In some cases, both occur.
Are you at ease with this idea? Don’t embrace the change yet. One downside of Earnest tempting tax filers to obtain a student loan is losing government loan benefits. You can’t have both government and private student loans. Second, the qualifications are difficult. Along with a credit check, a stable job, a lender-approved salary, and a co-signer are mandatory. Last, Earnest may not provide the best refinancing offer. Accepting Earnest’s offer means not accepting lower offers from lenders not associated with the government or TurboTax.
In conclusion, TurboTax and Earnest shouldn’t become the sole solution to refinancing. View the offer first, view more lenders with refinancing rates for better offers, and analyze your student loan situation before accepting any offer.
Taxes are surely one of the most complicated pieces of federal and state documentation that needs to be disclosed during the year. Both individuals, if you’re self-employed, and small businesses can find unwelcome surprises, rises and charges that they didn’t expect at the end of the year. Such a thing does indeed happen often, because for people who are not versed in the jargon of bureaucracy, navigating this ever-changing pool of information is pretty much impossible to get right on a first try.
Due to the nature of our Union, there are both federal and state taxes to pay, and depending on how many employees you happen to have under you, there are obligatory contributions to be issued towards them etc., etc. and if you do all this maneuvering all at once, the financial strain of it is just bound to catch you unprepared. Of course, as an employer, looking after the well-being of whoever relies on you is both an obligation and a duty. But you should also make sure that your tax returns are as simple to read as possible, and that they are spent in the most useful way possible.
A clear view of both federal and state taxes when you need them:
Which is why H&R Block Tax Software Deluxe + State 2017 has been designed with a clear interface and simplicity in mind. Interestingly, compared to other solutions of this kind it is regularly updated, and individualized chat support comes as part of the package. In case you want to discuss your eligibility for a federal extension. Or a refund, which the H&R Block Tax Software Deluxe + State 2017 aims towards making you eligible for, and then, when purchased from Amazon.com, gives you a simple option to convert any gained tax returns into Amazon gift cards as well, which you can spend on practically any product on offer there.
Personalized help with a human touch:
In case that your personal situation with regards to taxes is somehow unusual, for example that you wish to pay a joint tax return with a partner that does not live in the same household. Or maybe you hire external contributors to work with you for a period of less than one whole year, advice is then given in real-time, and the H&R Block Tax Software Deluxe + State 2017 software stays useful either way.
Of course, step number one towards easier tax returns is to pick a state in the federal union where small business taxes are the lowest, but also where the state and local government is the most transparent about how those taxes are then being spent.
This can be hard to research with precise accuracy on your own, but thankfully the above mentioned live audit experts, available literally at your fingertips during the day, are sure to have dealt with this issue in the past to certain extent, and can already offer you the answer from experience, but of course, you must not feel like asking them is the last resort. If you’re stuck, ask for help! Remember, that is what these people are there for after all.
Simple, matter-of-fact questions, no jargon:
And yet, getting stuck was never my problem when using H&R Block Tax Software Deluxe + State 2017 to begin with. To be clear, the software calls on you to import any tax returns that you may have filled electronically the previous year. Provided that you have in fact labored with filling electronic forms and tables in the past, you may choose this import option, and then the whole tax return thing is just a matter of editing numerical values to reflect the current year’s situation.
But even if you skip the importing process altogether and focus on just creating a new tax return from scratch, the H&R Block Tax Software package will immediately ask you to specify whether you wish to fill a personal tax return, or a business tax return, and it just is a matter of clicking the right check boxes, and then hitting the ‘Next’ button on each screen, to get your tax return all filled in, and either signed electronically, or just printed for you to sign manually and email by post if you prefer the old school way.
The point is that I never felt like the program didn’t have an option for me, this way or that, to just significantly speed up the unpleasant bureaucratic process at hand. Then of course traditionally there would be this whole business of orienting yourself among all the names of individual forms, and the problem of interlinked compatibility between this type of form and the other.
Well, H&R Block Tax Software Deluxe does not even burden you with the names of the forms that you have to fill, it does not ask of you any of the abbreviations under which the forms are referred to. It does not ask you any of the jargon, but only provides options in clear English, disregards whatever is not relevant for your situation so that you don’t have to flip back and forth on the form like you would with the printed tax return mailed to you by IRS. H&R Block Tax Software Deluxe + State 2016 gives you the correct form, with relevant formatting and labels at the very end.
H&R Block Premium tax software is a platform that provides an elaborate tax filing system for individuals, businesses and organizations. With secure data technology and audit support, the software can help one prepare both state and federal taxes with confidence. H and H Block can help individuals find and submit the correct forms, enter appropriate deductions and make accurate calculations based on the tax information fed into the system. In essence, this software allows users to get the biggest tax returns and/or file their taxes online from home.
Which Version Of H&R Block Software Is Right for Individuals and Businesses?
Tax preparation processes usually vary depending on one’s income and employment. For instance, Basic H&R Tax software is used by those who need to submit W-2 forms with one or two deductions. Those investing in home ownership, selling stocks or making charitable donations can make use of the Deluxe version of the software. Rental property owners and business corporations can use Premium and Premium & Business H&R Block Tax software respectively.
H&R Premium Tax Software Features
The Premium tax software from H&R Block comes with plenty of features that will help every tax payer beat any tax filing challenge. It provides an ideal tax filing platform for self-employed, rental property owners, landlords, independent contractors, freelancers and more.
The Premium software comes with the following features:
-Self-income income (Schedule C)
-Rental Property (Schedule E)
-Cost Basis Tax Calculations
Benefits of H&R Tax Premium Software
H&R Block Premium 2017 software comes with features that help users submit correct tax information. The software can update the previous years’ tax information with a few clicks, which minimizes the hassle of looking for older data. It also comes with a step-by-step guide on filling the necessary forms, thus ensuring only the correct information is entered. In addition, H&R Premium tax software verifies all income information entered prior to submission, which minimizes the chances of getting audits.
Other key benefits of the H&R Block Premium software include:
-Maximizes deductions on every user based on the current tax laws
-Simple and straightforward procedure for filling state and federal taxes
-Quick imports of W-2 and 1099 forms plus previous years tax returns
-Provides guidance on maximizing real estate tax deductions and mortgage interests
-Rental property income and expenses guidance (Schedule E
-The software’s Deduction Pro values and then optimizes all charitable donations
Advice and Guarantees from H&R Block Professionals
In order to eliminate mistakes during the tax filing process, H&R Block provides free professional advice for both its regular and first-time users. This expert advice is usually available on the tax software downloaded, on H&R Block company website or can be obtained by calling them via phone. There’s also audit assistance for those who use premium and other versions of the software to file. In addition, the company assists in tax preparations, manages correspondence and represents the user in case of an audit after using their software. And to ensure the users enjoy peace of mind, the company promises refund and accuracy guarantees on all software versions provided.
About H&R Tax Premium Discount Options
With H&R Block Tax software discount coupons, users can enjoy purchasing premium software at reduced prices. H&R Block are always dedicated to ensuring individuals and businesses submit their tax returns on time and with minimal hassle. Currently, there are plenty of discounts and deals from Hrblock.com that can allow one to download software at the lowest possible price.
Majority of the available printable coupons allow buyers to enjoy a certain percentage off Tax prep Software and other H&R Block online products. One can also enjoy free federal and state filing deal for a limited time, percentage off online tax filing and super deals for office tax preparation for new clients.
Other popular H&R discounts and deals include the following:
-Free Gifts and gift cards when signing up
-Free federal e-files
-A percentage off previous year’s tax preparation for first person
-Free filing for first-time users
-Free online tax filing and advice
-Exclusive free online tax Preparation
-Free consultation for small and medium businesses
-Mobile tax apps, free on some mobile devices
Using the H&R Block Tax Software makes the process of filing tax returns with Internal Revenue Service (IRS) and Federal authorities easier. Users can choose to use either paper or electronic means to make the filing. Premium package particularly provides individuals and organizations to itemize deductions and enjoy reporting assistance from investments or stock options. The H&R Block software is available online for download. And for reduced prices, buyers should check on the available discount coupons and deals from hrblock.com.
One of the activities which we must perform after we begin earning is pay taxes. This is where we give some of our earnings to the government. Every year, we must file our taxes so as to be upstanding citizens and also to gain a good record with the tax recording authorities. The process of filing your taxes requires quite a number of calculations. It can be a bit challenging to perform them manually. Thankfully, there is software which is designed to assist you in this. This software has some features which are necessary in assisting you to identify how much taxes you need to pay and what return to expect. A good example of such a software is Turbotax Premier 2017. Read on to learn more about it.
What is TurboTax Premier 2017
This is a software product which helps you to file your taxes on your own. It performs very accurate calculations and is very easy to navigate. Moreover, Turbotax prepares you for the filing process in an exceptional manner. The software gives you an option between taking an interview or going through the semi-guided method of preparation. Whichever option you pick, the software gives you special tax filing procedures which you can utilize to save money in the process. In addition to that, Turbotax Premier 2017 has a very advanced error catching mechanism. If you make a mistake when filing your taxes, the software will flag it for you. In addition to that, it will not allow you to proceed until you have rectified your mistake.
Get the forms which you require
There are some special forms which you need to have when filing your taxes. Examples of these are the 1099 and the W-2 forms. Turbotax Premier has a feature which helps you to import these forms as you file your taxes. If you use a separate software such as Intuit to process these forms, this is a huge advantage. You do not have to generate these forms from scratch. Individuals such as business people and real estate investors find this very effective. Turbotax Premier utilizes the funnel approach to help you file your taxes. It begins by asking a high-level question first. If this question is relevant to you, it asks you more some more. This is a highly effective way of handling tax information for beginners and professional users of this software. You can find yourself in some complicated situations when filing your taxes. Examples of such situations are depreciation and amortization. The software gives you various schedules to help you handle these situations successfully.
The progress report feature
It is always good to see if you are making financial progress. This software brings up a comparison between your current year and the previous one. This feature assists you to compare how your personal income performed versus your expenses. By looking at the data, you can tell if you are making progress or not.
Get some advice with filing your taxes
The Tax Code can be very complicated and actually seem obscure to many people. Thankfully, the unique style of interviews which is utilized by Turbotax makes it very easy to understand. Whenever you are answering a question in Turbotax, there is a button which you can press so as to “Learn More”. If you are still unsure if the question at hand applies to you, you can read the article which is generated by the button and determine if it is relevant or not.
If you find yourself even more confused about the law of tax, you can simply connect with a Tax Expert, this is a feature which gives you tax advice through a chat box. The Tax expert will share their screen with you and indicate to you how to utilize their advice. There is also another feature in Turbotax which is known as AnswerXchange. This one assists you to get more help in case you are stuck during the filing process. Turbotax also presents you with links to products such as Max Assist & Defend. It is an upgrade which makes your emails and chats to have the highest priority possible. This upgrade also guarantees that you will receive expert assistance with your audits.
Turbotax Premier 2017 is currently available to you for $59.49. When you pay this amount, you can enjoy annual, free subscription to Turbotax newsletters. Turbotax is well known to be reliable tax filing assistance software from Intuit technologies. It is a great investment for you to make. If you login with the Turbotax Advantage, you get to enjoy a discount on the price of the software.