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Wednesday, February 24, 2010

Tax Preparation Comparison

TurboTax - Choose Easy

I'm kind of a stickler when it comes to money (shocking, right?). Obviously I LOVE to save money, but I also like to get back every penny I can during tax time. So this year I decided to run my taxes through 3 different programs to see which one would yield the highest return.
I have always used Turbo Tax in the past, and I wanted to see if they actually lived up to their biggest refund guarantee.  I kept hearing my friends talk up a few other programs, so I decided to see for myself.
With most online tax prep companies, you can start a return for free and only pay if you decide to file. So I input my info 3 times. It was a bit repetitive, but not too time consuming.

First up was Turbo Tax.

Next Tax Act.

And finally Tax Slayer.

After adjusting for the varying company's costs, my results were as follows:

Using Turbo Tax would get me the largest refund by $93 (guess their biggest refund guarantee was spot on!).

Tax Act would get me $33 more than Tax Slayer, but still $60 less than Turbo Tax.

I think it is obvious what program I ended up using! $93 might not be a big deal to some people, but being a couponer it will buy 2 weeks worth of groceries for my family!!

So there you have my tax comparison. Next year I won't even waste my time inputting my info 3 times. I'll just go back to Turbo Tax, the company that guarantees the biggest refund!  Hope that helps and maybe saves you the hassle of inputting your info numerous times!

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kami said...

That's great to know! Thank you for taking the time to check it out. :) I've been using Turbo Tax online for about 10 years now and I've always LOVED how easy and quick it is. Glad to hear they're still the best.

Denise said...

I was able to get a 15% discount on Turbo Tax through my credit union web site

Monica said...

Love it Amber! Thanks for sharing.

L said...

At my Costco, Turbo Tax Deluxe Federal was about $40 - Amazon has it for $32.50 - just in case you don't want to do it online...

GingerS said...

You didn't try H&R Block's software? Personally, I've compared H&R Block's software and Turbo Tax's software several years in a row and I've always gotten a much bigger refund with H&R Block's software.

It can't hurt to look...