Tax Relief CD-ROM has both DOS and Windows versions included for easy-to-use
tax preparation software for the following tax returns, namely: 1040(Individual
return), 1120(C-corporation return), 1120S(Sub-chapter S-corporation return)
, 1065(Partnership return), 1041(fiduciary return) and state tax returns.
So, even if your client is from out-of-state, you will be able to file
a complete set of Federal and State tax returns without purchasing separate
software for it.
You do not have to install all the programs in the CD-ROM, you select only the ones that you wanted by highlighting the item then press ENTER to continue and all the selected programs will be installed on your hard disk. If you decided at the end of the installation that you don’t need the software you selected , you may uninstall any state or complete software any time, just by double-clicking the Uninstall icon.
Tax Relief is simple. Tax Relief does not have audio or motion video capabilities. Once installed in your hard disk, you can keep the original disk in a safe place. You’ll need it again when you want to install or re-install a program.
I scanned through the 1040 software. The 1040 like most tax applications is easy to use. It has a tool called Input Engine (IE). It is where you enter data in any order you wish. The Input Engine organizes the data, carries it to the appropriate forms, computes the returns and prints a complete audit trail. When you’re set, you print your returns for filing. That simple!
I am a business owner and I prepare my own personal and business returns. I decided to use Tax Relief to prepare my business tax return. Before using Tax Relief, I armed myself with my Financial Statements in hand…namely, Balance Sheet and Income Statement and my last year’s income tax return. Then I pushed on.
Double-clicking the 1120 icon let me activate a new client. (You can do this two ways…1. Click the blank document icon, 2. Click on File (New Client). After I entered my company’s information, it gave me a screen with the Active title bar heading as “Tax Relief 95- name of client you’re currently working on” ( in this case, my company name) and a toolbar. In 1040, you have the Input Engine, in 1120 you have the Direct Book Entry (DB). Both tools function exactly the same except for the account titles. It gives you most possible account names you’ll use regardless of the nature of your business.
I entered all my data from my financial statements with no problem until I checked my 1120 tax form on screen. I notice that the depreciation line is empty. In this case, I could have just typed in the amount and amended my return right there and then. But if I did that the program won’t work automatically. So, I checked the manual, and this is what I learned… Tax Relief supports all common depreciation methods with 200 assets allowed for each Form 4562. I clicked on the Federal Forms Menu icon in the toolbar which gave me direct access to related forms (marked with * ) from within the current form I was working on. I highlighted Form 4562-Depreciation and it enabled me to enter/edit all my depreciable assets. When finished, Tax Relief automatically posted the depreciation expense on to the 1120 form. So when entering data as business operating expense do not enter depreciation just yet. It would be better if one had option to print the 4562 Asset Summary because it is a good lapsing schedule to keep for the records.
I was not able to evaluate the printing feature of this program since I do not have an HP LaserJet or a 100% compatible laser printer.
I admit when I started Tax Relief, it’s overwhelming. The reason was it gives you documentation for both DOS and Windows version. The full documentation for Windows was only for Individual Returns. There are separate manuals for businesses which combined the DOS and Windows version, and it took me a little while to digest the format.
If you can’t resolve your problem through the documentation, you can fax Micro Vision at (800) 927-1283 or call them at (516) 232-1040. By the way, in addition to the tax software package, Tax Relief includes a built-in communication program. It gives you access to Micro Vision’s in-house Bulletin Board System where you can have access information about their Federal programs and download updates. Finally, tax professionals will benefit from the customizable billing schedule where they could select rates by individual form and customize letters of transmittal for each of their clients.
Tax Relief retails for $ 2,000 available direct from MicroVision at 1-(800)-829-7354. Dos and Windows In-State versions are available for $1,500. Diskette versions of 1040’s is $ 545.00.
From Micro Vision / Tax Relief
140 South Fell Court
Hauppauge, New York 11788