Here's the latest news on tax software.
Fool.com lists ten good gifts to help your friends and relatives get rich. Here's one recommendation: "Tax software. Yes, it might be more exciting to open a gift and find tube socks rather than tax software. But anyone who still fills out their taxes the old-fashioned way, with a pencil and calculator, might be overlooking some serious savings. Software, like Intuit's TurboTax or H&R Block's (NYSE: HRB) TaxCut, can help hone anyone's tax strategies."
MSNBC says: "My advice, if you make over $75,000 a year, talk to an accountant or run your information through a tax software like TurboTax."
Here's a review of TurboTax: "Best tax software for complex returns. This year, reviewers say TurboTax edges out its nearest competitor, H&R Block's TaxCut, as the best tax-preparation software. TurboTax has a more comprehensive interview process, especially for complicated topics such as multiple stock sales, business deductions, depreciation and mortgage refinancing, as well as rental income and expenses. Reviews say better guidance and more comprehensive support for less common scenarios distinguish TurboTax from competitors. TurboTax Premier includes federal software and one free download of state software. Federal and state e-filing cost an additional $14.95 each. If you don't need the extra tools for stock sales or rental property, TurboTax Deluxe (*est. $40) is less expensive."
"If you have a less complicated tax situation, the Deluxe version of TurboTax costs less than the Premier version, yet it still includes both federal and state tax preparation. Features include videos and extra help for itemized deductions (Schedule A) and charitable contributions (called ItsDeductible), but no advanced help for investments or rental property income. The cheaper Basic version of TurboTax (*est. $20) is only for federal income taxes and does not include ItsDeductible. All versions of TurboTax are compatible with both Windows and Macintosh computers."
Here are reviews of tax software:
Online Tax Software Reviews 2008Listed in order of rating |
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TurboTax |
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TaxCut Premium |
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TaxACT |
| #4 | CompleteTax |
| #5 | Electronic Filing Service |
| #6 | TaxBrain |
| #7 | OLT |
| #8 | ExpressTaxRefund |
| #9 | TaxGaga |
| #10 | TaxSlayer |
| #11 | eFile Express |
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Deduction Finder