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TaxCut Premium 2003

 & Kathy Yakal Contributor

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 - TaxCut Premium 2003
4.0 Excellent

Pros & Cons

H&R Block's TaxCut Premium 2003 has seen more changes than its competitors since last year's version. Some of the changes are cosmetic, including a welcome overhaul of the program's look. Other changes are more substantive, clarifying various elements of the 1040. In some places, steps and assistance were added; in others, they were streamlined.

If you import data from last year's TaxCut or TurboTax, a report lists all of the related entries. You can make changes directly on the screen, go to the form, or wait until you get to the proper point during the interview process. You can also import data from programs like Microsoft Money and Intuit's Quicken. Other types of data can be downloaded into the program from participating financial institutions, like some retirement and investment information and W-2 info from leading payroll services.

At each new content area of your return, TaxCut displays a list of the documents you'll need for those issues. You'll also be asked to indicate which tax topics in that area apply to you so that TaxCut will visit the applicable screens. New navigational markers at the top of the screen make it easier to get where you're going quickly.

Several kinds of help and search tools are available. Related FAQs appear on most screens. Clicking the Help button opens a dialog box with several kinds of assistance. There's program help, tax tips and advice, IRS instructions and publications, and explanations of form. The Search box displays matching forms when you enter a topic, and the "shoebox" helps you search by a document's originating source.

TaxCut also does a good job of hyperlinking unfamiliar language to more thorough explanations. And for $19.95 per incident, no matter how complex, you can use the company's Ask a Tax Advisor service, which connects you with an H&R Block professional by phone or e-mail. Even better, the Premium package includes a mail-in rebate coupon for one such call. And if you're so inclined, you can have an H&R Block tax professional review your self-prepared return to help ensure you've taken all the deductions and credits due you ($29.95). In all versions, technical support (for help with the program itself) is free via e-mail or phone.

What makes or breaks a tax program is the depth of 1040 coverage and how friendly and informative the interview's "conversation" is. TaxCut has made some good changes here this year, including more guidance in areas like capital gains, home sales, self-employment, and tuition expenses. New context-sensitive tax tips flesh out the details of thorny tax topics. But TaxCut has some room to grow internally. We found that some interview topics (such as the Fuel Tax Credit and Ammended Return areas) are not completed, forcing you to open a form and fill it out manually.

TaxCut has always done a good job of occasionally flagging questionable entries and encouraging you to check your answers. But you'll still want to take advantage of the final error-checking and planning tools that the program offers. This segment offers two levels of feedback: errors that must be fixed before filing (like missing required information) and warnings (like a figure for state taxes paid).

As usual, when you're finished, you can either print your return or file it electronically. You can also take advantage of H&R Block's post-return planning tools. You can estimate your 2004 taxes and plan for payments, use the program's Alternative Minimum Tax Planner, and generate a tax planning report based on the return you've just completed.

H&R Block has made some good changes this year, and the program is a close match for TurboTax. It's also cheaper, especially when you consider the Premium package's included tax advisor call.

Final Thoughts

 - TaxCut Premium 2003

TaxCut Premium 2003

4.0 Excellent

About Our Expert

Kathy Yakal

Kathy Yakal

Contributor

My Experience

I write about money. I’ve been reviewing tax software and services as a freelancer for PCMag since 1993. Along the way, I took on reviews of other types of business and personal finance technology. Prior to that, I had spent a few years writing about productivity and entertainment applications for 8-bit personal computers (my first one was a Commodore VIC-20) as a member of the editorial staff at Compute! 

After working at Lawson Associates, now Lawson Software, I switched my focus to accounting but learned that personal computer applications were more progressive and interesting to cover than mainframe solutions. So I served as editor of a monthly newsletter that provided support for accountants who were just starting to use PCs. I still ghostwrite monthly how-to columns for accounting professionals. From there, I went on to write articles and reviews for numerous business and financial publications, including Barron’s and Kiplinger’s Personal Finance Magazine.

The Technology I Use

My personal needs for financial and productivity applications are simple. I’m a microbusiness and I don’t do much collaborative work with clients, though I give Microsoft Word's Track Changes a workout when I’m updating PCMag reviews. 

I need money management. I have to track invoices and payments. And I must keep good records of my contacts and the financial applications I’ve covered. Since my business is uncomplicated, and because there are so many good solutions supporting personal finance and accounting and tax available, I’m able to move from one product to another occasionally so I don’t get overly familiar with one company’s products. 

Mobile access is critical for personal finance and accounting and personal tax preparation. So I have both an iOS and Android phone for testing companion apps, since versions can vary. I use an assortment of tools for work that doesn’t involve managing money, like my Samsung Galaxy A51 phone, Evernote, Gmail and Google Drive. 

I’m a bit of a Luddite in some ways. I still take handwritten notes during product briefings and I still have cable for both internet access and TV-watching. I do stream shows on an iPad and use an Amazon Kindle Paperwhite for reading books, though. Most of my days are spent staring at screens, much to the vexation of the two senior canines that share my office.

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