H&R Block And The Impact Of Tax Reform

H&R Block Tax Filing
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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.

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H&R Block Tax Software Deluxe + State 2017

H&R Block Tax Software Deluxe + State
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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.

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H&R Block Premium Tax Software

H&R Block Premium
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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
  • -Refund Reveal
  • -Free import

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

Conclusion 

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.

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