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Computerized Investing > March 2010

Comparison: Tax Preparation Services

PRINT | | | | COMMENTS (5) | A A   Reset

by Cara Scatizzi

Preparing taxes has become easier in some ways and more difficult in others over the years. There are numerous online and software products to help individuals file their own taxes at a minimal cost. On the other hand, the tax code has seemingly become more complex, so mistakes are easy to make. Fortunately, the following software and online tax preparation programs have systems in place to double-check deductions and credits and flag anything that seems out of place. These same programs are also intuitive to use and can ease the burden of filing taxes.

This comparison covers three well-known services: TurboTax, H&R Block At Home and TaxAct. The programs are similar in their step-by-step guidance and ability to find appropriate deductions and credits. Where the programs differ is in the presentation of information, the help available and the price. Looking at each program individually, we discuss the process from start to finish using the online versions. The software versions of these services are similar to the online versions, but cost more since you can file multiple returns with a one-time purchase of the software. Online programs allow you to file only one return per account created.

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Discussion

John from MA posted over 3 years ago:

I have been using the H&R Block software for some time and find that it addresses the numerous "nooks and crannies" that people find themselves in. I believe that if a tax return is involved, then a nightmare could be born without proper background. This year I have been using the Deluxe version to take care of things. Ir has been working just fine.
Many years back, I used Turbotax ongoing, but after some issue, and I can't remember exactly what it was, I started using the H&R Block product and have found it quite accommodating.


Hamed from TX posted over 3 years ago:

I need to know which program can help me to:
a) make the late tax return of 2009
b) adjust for stocks capital losses.


Samuel from CT posted over 2 years ago:

What about options trading using multiple accounts. The import function seems to work differently from different brokerage firms, with Turbo Tax. Also, alot of work adjusting for wash sales and writing options. I wonder if either of the competitors are any better for option trading.


Samuel from CT posted over 2 years ago:

What about options trading using multiple accounts. The import function seems to work differently from different brokerage firms, with Turbo Tax. Also, alot of work adjusting for wash sales and writing options. I wonder if either of the competitors are any better for option trading.


Robert Woulfe from GA posted about 1 year ago:

We have income from a couple Master Limited Partnerships which H&R Bloch didn't handle in 2011. Turbo Tax says their Supreme version will,
but it took talking to a couple different Service guys to get that info.
Does anyone know for sure?


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