TaxPoint is an online tax preparation software that promises to help you file and prepare your tax return quickly. Here’s our TaxPoint review.
What is TaxPoint?
TaxPoint, found at TaxPoint.com, is an online tax preparation software. The software has over 350 tax deductions and credits to help you get the most out of your money while filing and preparing your tax return.
TaxPoint is free for federal tax returns, although you’ll pay an additional fee for state filings. If you want to calculate deductions, then you’ll need to pay $9.95 (with an added fee for state deductions).
The creators of TaxPoint claim that the software is easy to use and that you “don’t need to be a CPA or a computer whiz to use TaxPoint.”
Another benefit is that TaxPoint is one of the few platforms fully available in both Spanish and English, which means you can complete your entire application in either language. The customer service hotline is also bilingual.
With that in mind, let’s take a look at how TaxPoint works.
TaxPoint has five different editions available, including all of the following:
-Federal Free Edition (Free): This free version lets you calculate federal tax returns, but you won’t be able to input any deductions (additional fee for state).
-Deluxe Edition ($9.95): Federal fax returns with deductions (additional fee for state).
-Home and Business ($29.95): For business owners and investors (lets you calculate taxes for self-employment businesses as well as investment taxes).
-Free Military Tax Returns (Free): Members of the military can file their taxes for free through TaxPoint. The free product applies to all active duty military and is available on both federal and state tax returns.
-State Tax Forms ($24.95): You can pay an additional $24.95 to transfer all information from your federal tax form on TaxPoint to your state tax form.
-Supports “virtually all tax forms”: The IRS offers approximately 80 different tax forms and almost all of them are supported by TaxPoint. As the creators of the platform explain, “except for very rare instances, you receive all the nuts-to-bolts support you need for accurate and precise filing.”
-Affordable Pricing: TaxPoint is cheaper than most other tax services available today, including TurboTax and H&R Block.
-Expert Tax Support: TaxPoint prides itself on its customer service, which is available over email, phone, or live online chat. This customer service team is fully bilingual in both Spanish and English and there’s a wide range of tutorial and help articles on the support page.
-Multilingual: Filing a tax return in Spanish can be difficult using other online platforms. TaxPoint supports English or Spanish fully throughout the entire tax form application, and all customer service is available in both Spanish and English.
How to Use TaxPoint
Most customer reviews online for TaxPoint indicate that the software is easy to use. The form asks straightforward questions and you click options to decide which one best applies to you. You start by choosing whether you’re Singled, Married (Filing Jointly), Married (Filing Separately), Head of Household, or Qualifying Widow(er) with Dependent Child.
Then, you fill out information for your dependents, your income, your investments, your retirement, and your expenses.
Once your form is complete, you can choose from a range of different disbursement options. You can request the IRS send you a paper check by mail. Or, you can choose to have your refund deposited to your bank account by direct deposit, or even via pre-paid debit card.
If you don’t want to pay for TaxPoint upfront, you can choose to deduct the price of the software from your tax refund.
You can start your return for free and estimate your tax refund instantly using TaxPoint. Once you’re ready to proceed with the filing and completion of your tax form, you can do so by signing up for one of the company’s products:
-Simple Federal Return: Free
-Federal with Deductions: $9.95
-Home & Business: $29.95
-State Returns: $24.95
The total price if you buy the maximum level of support for TaxPoint is $54.90. The main site for TaxPoint compares that maximum price to the price of TurboTax ($144.98) and H&R Block ($86.98).
TaxPoint was founded by a practicing CPA. The company is based in Southlake, Texas at the following address:
PO Box 92081
Southlake, Texas 76092
The company is a member of Microsoft’s BizSparks program, which is designed to provide startup companies with access to Microsoft platforms to encourage their growth.
The company started offering tax services in 2011. In addition to its main website at TaxPoint.com, the company also offers an app called TaxPoint Tax Prep available for Android.
Ultimately, TaxPoint is one of the most affordable tax filing systems available today. It offers a clean, easy-to-use interface with few drawbacks or limitations. It helps to have prior knowledge before using TaxPoint, but it’s certainly not required. At a price of about $50 total for most federal and state filings, it’s tough to beat TaxPoint’s pricing.