TaxACT Expands Affordable DIY Tax Filing Solutions for Small Business Owners
Preview Versions Empower Partnerships, Limited Liability Companies
and Corporations to Take Control of Their Year-End Tax Planning to
Maximize Business Deductions
CEDAR RAPIDS, IA -- (Marketwired) -- 10/23/13 -- TaxACT(R), the
value leader in tax preparation and filing solutions, has expanded
its suite of do-it-yourself tax preparation products for small
business owners with online solutions and additional State Editions.
TaxACT has offered download software for small businesses since tax
year 2003 and has now extended its product line to better meet the
needs of today's small business owners.
Preview Versions of TaxACT Federal 1065, 1120 and 1120S Editions,
launched in early October, cover the latest tax law changes so
business owners can calculate their 2013 business and personal (1040)
taxes, identify strategies for reducing their taxes before year's end
and make better informed business decisions for 2014.
For tax year 2013, TaxACT Business products are now available as web
applications, allowing busy and often traveling small business owners
to sign into their TaxACT Online 2013 accounts anytime, anywhere on a
computer or tablet browser. TaxACT Online products are always
risk-free to try, as users don't have to pay until they preview tax
forms, call for help, print or e-file.
Programs will be updated with final IRS forms in early January,
including Form 1120-H for Homeowners Associations in 1120 Edition,
after which users can finish and file their returns. TaxACT will also
release new State Editions in January so that 1065, 1120 and 1120S
each support 32 states, with e-filing for most.
Q&A guidance, integration and quick entry for faster tax preparation
As business owners answer easy-to-understand interview questions,
TaxACT personalizes the question sequence to streamline the interview
and completes the necessary tax forms. Information is saved along the
way so users can finish their returns as their schedules allow, and
bookmarks can be personalized for one-click navigation back to
Time-saving, error-reducing tools include:
-- Import of last year's TaxACT business return data, including asset and
depreciation schedules, owner K-1s and rental properties.
-- Automatic allocation of partner or shareholder income and deductions
in TaxACT 1065 and 1120S. Once complete, Schedule K-1 data can be
quickly imported into TaxACT Deluxe 1040.
-- The new Accounting Records Import debuting in January's updated
program. Import a trial balance report in comma separated values (CSV)
format from QuickBooks(R) or other accounting software, and TaxACT
will transfer the information to the appropriate lines of the tax
-- Quick entry tools for depreciation and Schedule L data.
-- Investments import from GainsKeeper(R) or a brokerage-provided CSV
file. Or, enter transactions into Stock Assistant, a spreadsheet-like
page that enables users to quickly enter, review and print investment
-- Simplified reconciliation of book income for Schedule M-1.
-- Storage of digital copies of tax documents with the TaxACT return.
Images can be uploaded from a local drive or TaxACT DocVault(TM), a
secure mobile app for creating and saving encrypted copies of tax
forms, receipts, and documents.
-- Summary reports for partner distribution, asset depreciation and
disposal, capital gains and year-over-year comparison.
Personalized help is available every step of the way in the Answer
Center, on TaxACT's website and via email or phone.
Whatever the industry, TaxACT's interview helps business owners
maximize the number and amount of deductions, from vehicles and
utilities to office expenses and startup deductions for new
businesses. As users answer questions about business income and
expenses, TaxACT provides guidance to help users discover all
deductible expenses incurred during the year.
After expenses are entered, TaxACT covers potential tax credits to
further reduce businesses' tax liability.
When users have finished the interview, TaxACT Alerts scan the return
for errors, missing information and tax-saving opportunities.
Fast state filing & e-file notification
TaxACT automatically completes state forms as users answer questions
about their federal taxes, so state returns can be finished and filed
During the filing steps, users can choose to receive email and text
notifications from TaxACT when e-filed returns are processed by the
IRS and states.
TaxACT Online and download 2013 Federal Business Editions are $39.99*
each through December 31, 2013. Federal prices will increase by $5 on
January 1, 2014.
State Editions are $19.99 per edition and $59.99 for each All-States
One free e-file is included with each federal and state edition.
Home & Business Bundles, $59.99 each, include download software for
Deluxe 1040, State 1040 and one Federal Business Edition.
Online products include TaxACT's Price Lock Guarantee, allowing users
to try TaxACT Online risk-free. Payment isn't required until users
preview tax forms, call for help, print or e-file. Download products
come with a no-questions-asked, 30-day Money-Back Guarantee.
*Prices subject to change.
TaxACT is the critically acclaimed leader of
affordable digital and download tax preparation solutions for
consumers, business owners and tax professionals. In the 2005 tax
season, TaxACT became the first to offer free federal tax software
and e-file to all U.S. taxpayers. Since 2000, TaxACT Online has
assisted with more than 38 million e-filed federal returns. TaxACT is
a business of Blucora, Inc. (NASDAQ: BCOR). Learn more about TaxACT
at www.taxact.com and www.taxact.com/press.
TaxACT Public Relations
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