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With the final release of, Microsoft has taken bold steps to change its game. The latest office suite is radically different from previous versions of Microsoft Office, from how it's distributed to what's included to how it's priced. The good news is most of the changes are extremely positive, a large reason Microsoft Office 365 Home Premium edition remains an Editors' Choice here at PCMag. Even though change is good in this case, there's still a lot you need to know before deciding to buy or install the suite. Here are ten of the most important facts about the new Microsoft Office 365.

Price and subscription model. Microsoft Office 365 Home Premium is now being sold in the subscription model, and it costs $99 per year for an entire household to install (more details below). Some of the other versions of the suite are sold as a 'perpetual' license, meaning one copy of the software is licensed to only one machine, but that license is good for life.

License good for five devices. Paying a subscription fee for Microsoft Office 365 Home Premium does have one huge advantage: You can install Office on up to five devices, and these can include both Windows machines and Macs.

What files to delete for mac adware. Microsoft says you'll be able to install the suite on additional, select mobile devices 'when available,' which is a cryptic way of not promising apps for the big two mobile OSes, while still dangling the carrot. Operating systems.

You can install Microsoft Office 365 on machines running Windows 7 or 8 (but not Vista or XP). When you install the software on a Mac running OS X (10.5.8 and higher), you'll actually get Office 2011 (full version), rather than Office 365.

Apps included. The Home Premium version of Office includes Word, Excel, PowerPoint, Outlook, Publisher, OneNote, and Access. OneNote is not included in the Mac version, however.

Must install all apps. You cannot customize your installation of Office 365 Home Premium by choosing not to install some of the apps. The whole suite gets installed despite whether you plan to use, say, Microsoft Access or Publisher. Includes 27GB cloud storage.

As mentioned, Office 365 was designed to integrate tightly with SkyDrive, Microsoft's answer to Google Drive. Every SkyDrive user gets 7GB space free to start, and Home Premium subscribers of Microsoft Office 365 get an additional 20GB of space, giving them a total of 27GB.

Free Skype minutes. One neat perk that's easy to overlook is that Home Premium subscribers get 60 free Skype minutes per month to call landlines in supported countries. Skype-to-Skype calls are always free, but for times when you need to dial an international landline number, you can use your free Office minutes.

Additional versions and discounts. Home Premium is just one of several slices of Microsoft Office that's available.

The Office 365 business editions are due to be released on February 27. University students and faculty can also get a big discount for an Office package that's a little pared down, but much less expensive at only $79 for four years, usable on two devices.

RECOMMENDED: An Personal subscription allows you install Office 365 on one PC or Mac, whereas an Office 365 Home subscription can be used to install Office on up to 5 PCs or Macs. If you have been using Office 365 on one of your PCs but now want to move the Office 365 to another PC, you will have to transfer your Office 365 license to another PC. In order to transfer your Office 365 license to another PC, you need to first on your current PC and then download, install and activate Office 365 on the new PC where you would like to use your Office 365. Transfer Office 365 to another Windows PC or computer In this guide, we will see how to legally move your Office 365 subscription from one PC to another PC. Step 1: On your new PC where you want to transfer Office 365 license to, open the official page, sign-in to your account using the email address which you used while buying your Office 365 subscription. Step 2: At the home page, click on your account user picture located at the top-right and then click My account. Step 3: Under Install section, click the Install button.