TurboTax and TaxCut are the two top-selling tax preparation software packages. Get advice on comparing TurboTax and TaxCut to make the best choice for you.
Consumers who are deciding between using H&R Block TaxCut or Intuit TurboTax to prepare their income taxes will have a more difficult time choosing in 2007. The top two tax preparation software packages are being marketed very differently, and comparing TaxCut and TurboTax is like comparing apples and oranges.
TaxCut
TaxCut's slogan is "Simple Choice". The Basic, Deluxe and Premium TaxCut versions have been replaced with one version for all with TaxCut Premium Federal. The interview in TaxCut Premium Federal tailors the user experience by ensuring that only the required forms are presented during tax form preparation. For example, those with basic returns are not bothered by more advanced tax details that do not pertain to them while the investor or self-employed will be walked through filling out the appropriate forms.
Although TaxCut has significantly simplified choosing a tax software version this tax season, those who want to go beyond filing a federal return will need to decide whether to buy TaxCut Premium Federal + State, TaxCut Premium Federal + e-file, or TaxCut Premium Federal + State + E-file.
TurboTax
TurboTax uses the "Right for Me" approach with TurboTax Deluxe Deduction Maximizer, Premier Investments and TurboTax Home and Business. The Deduction Maximizer product simplifies finding qualified tax deductions and Premier Investments has Deduction Maximizer features plus special features for those who held stocks or other investments over the year, including investment property. TurboTax Home & Business has all of Premier Investment's features plus Schedule C support and specific help for the self-employed.
Which Tax Software is Right for You?
Choosing a TaxCut product to meet your tax preparation needs is especially easy, but finding a TurboTax version is not difficult either. You can prepare your income tax return with confidence using either TaxCut or TurboTax, but TaxCut costs less for the same features while offering a better deal on getting professional tax help should you need it. However, if you are an active stock investor and you have substantial 1099 data to report to the IRS, TurboTax downloads 1099 and 1098 data for you to save time on manual entry and may be worth the additional cost.
