![]() TurboTax makes it easy to import not just tax information such as W-2s and prior returns, but data from QuickBooks and other services, like Uber. While this might seem like extra steps for those who have a solid understanding of their taxes, for many this can be extremely helpful and offer peace of mind that you’re making the right tax decision. If you’re not sure about something, TurboTax often has a simple questionnaire to help guide you to the right choice. ![]() TurboTax’s software takes a lot of guesswork out of the process of filing your taxes. TaxAct doesn’t provide many explanations or a guided experience, so it might not be as well-suited for those who have never filed their own taxes before.Ī guided experience. Less hand-holding throughout the e-filing process might be a positive for taxpayers who already know the basics, but others may need more guidance. While it offers less hand-holding and special features than some other e-filing software, that can be a plus for those who are looking for a straightforward process and already have a solid base of tax knowledge. All prices listed here are as of April 6, 2023.) (A note on pricing: Many tax preparers raise their prices as Tax Day draws nearer, so the prices listed here might not be current. TaxAct does not offer a fully free option for filing simple returns, but all of its other products are less expensive. The TaxAct website claims you’ll save up to 20% on your federal tax preparation compared to TurboTax. ![]() Let’s take a deeper look at some of the upsides and downsides of TaxAct. TaxAct might not have the name recognition as TurboTax and other services, but it offers a similar process and can be less expensive for many filers. If you want expert help with your tax strategy, consider speaking with financial advisor. But which is right for you? Here’s how they compare to each other and what to consider when using either platform. You’ve probably heard of TaxAct and TurboTax, two of the most popular tax-filing services on the market. As you prepare for Tax Day, you might be overwhelmed by the options available for filing your taxes online.
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