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When it comes to paying taxes, you can either file your own tax return, hire a tax accountant to do it for you, or pay for a service that falls somewhere in between. There is no “right” way. It’s a matter of taste.
tax law®turbo tax®, and Tax Slayer® are three of the leading online tax preparation services. All three offer features and varying levels of professional support and features for taxpayers looking to process their taxes online. Find out which of these are right for you.
TaxAct vs. TurboTax vs. TaxSlayer: A Quick Comparison
> tax law
The TaxAct has been around since 1998 and has established itself as a low-cost alternative to other laws. tax preparation softwareWhile it doesn’t offer all the options that some other tax preparation programs offer, it’s a very affordable option for filing federal returns.
tax law It offers good value to users, but is less hassle than other services. Suitable for users accustomed to preparing their own taxes with minimal guidance.
>turbo tax
turbo tax The first TurboTax product was software available on a floppy disk. Currently, users can choose from software downloads, online plans, and full service provision. TurboTax is owned by Intuit, which also owns: quick bookcredit monitoring service credit karmabudgeting and personal finance software mint.
whole, turbo tax is one of the most comprehensive DIY tax preparation programs. It provides users with guidance from start to finish, making it ideal for beginners and those with more tricky returns.
>tax slayer
tax slayer This cloud-based provider offers a lot of solid features, is easy to use, not to mention cheaper than TaxAct and TurboTax. You can pay for additional support as needed. Also includes 3 years of audit assistance. tax slayer We also offer free services to active duty military personnel. For its value and ease of use, TaxSlayer stands out.
We’ll talk about TaxSlayer’s unique benefits in a moment, but for now, I’d like to emphasize that the Classic package is a low-cost option. To be precise, it costs only $19.95 to file a federal return and covers all tax situations.
price and fees
> tax law
TaxAct offers 4 different online plans, all with additional charges for state returns.
- Tax Law Shipping: Federal returns are $0 and state returns are $39.95.
- W-2 income and standard deductions for simple filing using Form 1040
- Tax Act Deluxe: start from $18.71 federal return, $33.71 state return
- For more complex returns including itemized deductions and homeowner and dependent deductions
- Tax Law Premier: Federal returns starting at $26.21, state returns starting at $33.71
- For complex returns from investment income, rental properties, and cryptocurrencies
- TaxAct Self Employed: $48.71 federal return, $33.71 state return
- For self-employed returns with freelance income, business deductions, and Schedule C
All of these plans now include unlimited Xpert Assist at no additional charge (provided returns are initiated by March 20, 2023). Also, for $114.95 you can purchase a comprehensive bundle that includes free federal filing including all forms, return to one state, refund forwarding option, dedicated e-filing concierge, and audit protection .
>turbo tax
TurboTax also offers four different online plans.
- TurboTax Free: $0 federal returns, $0 state returns
- W-2 income and standard deductions for simple filing using Form 1040
- Simplified tax return only. Not all taxpayers are eligible.
- Turbotax Deluxe: $59 federal returns, $54 state returns
- For more complex returns including itemized deductions and homeowner and dependent deductions
- Turbotax Premier: $89 for federal returns $54 for state returns
- For complex returns from investment income, rental properties, and cryptocurrencies
- TurboTax Self Employed: $119 for federal returns $54 for state returns
- For self-employed returns with freelance income, business deductions, and schedule C (expenses)
These are basic level DIY plans without live support. If you need more help, you’ll have to pay $89-$209 for the Live Assist plan and $209-$399 for the Live Full Service plan.
>tax slayer
TaxSlayer also offers four choices for online plans. But be aware of the difference.
- TaxSlayer Simply Free: $0 federal returns, $0 state returns
- W-2 income and standard deductions for simple filing using Form 1040
- TaxSlayer Classic: $19.95 federal return, $39.95 state return
- For all tax situations, income, deductions and deductions
- TaxSlayer Premium: $39.95 federal returns, $39.95 state returns
- Address any tax situation with IRS Audit Assistance, Live Chat Support, Professional Tax Support, and Priority Services
- TaxSlayer Self Employed: $49.95 federal returns, $39.95 state returns
- Covers all tax situations, including self-employment tax specific guidance
As you can see, TaxSlayer is the cheapest option. Especially if you are confident in paying your own taxes. This is unique in that the second tier of service, the classic level, covers all situations.
Characteristics of each brand
> Free support: TaxAct
- TaxAct offers robust plans with prices between TurboTax and TaxSlayerTaxAct has an edge over its competitors when it comes to professional support.
- If you need help with your application, Xpert Assist is available for free whatever plan you haveXpert Assist connects you with experienced tax professionals. They will look at your tax return and help you overcome any obstacles you face. The only problem is that you may have to wait for help as you have to submit your questions and schedule a call with a pro.
- TaxAct is perfect for those who need professional help without paying more Filers in more complex tax situations stand to benefit most from lower costs. But the free version leaves a little to be desired, so if you’re looking for a complete preparation service, don’t choose TaxAct. Also, this provider has a high return value for state, so consider another option.
> Premium Platform: TurboTax
- TurboTax is the most expensive of the three options, but comes with more features and guidance. TurboTax offers better integration with financial tools like QuickBooks, more guarantees, and more resources than most other platforms.
- In addition, filers have more options for filing methods. You’ll save the most if you prefer to file yourself. However, if you prefer to do the files mostly yourself with professional help, you can upgrade to the Live Assist plan for a relatively small additional fee. . TaxSlayer and TaxAct do not offer full-service preparation services. TurboTax’s free plan comes with the most support, so it’s a good choice for simple filers.
- If you can qualify for TurboTax’s free plan (simple tax returns only), this might be your best bet. We also recommend TurboTax to investors who want to maximize their deductions and who want a full service set up. However, he can get support more cheaply with two.
>Prices and surcharges: TaxSlayer
- TaxSlayer is the most budget-friendly and one of the best options for self-employed tax filing. and live support. TaxSlayer needs you to know what you’re doing on both Simple Free and Classic plans. It doesn’t include live chat or dedicated professional support options, but you can ask customer service a technical question by phone or email.
- Premium and Self-Employed come with 3 years of audit assistance, priority assistance and tax assistance. If you don’t mind paying a little extra, TaxSlayer is your best option, especially if you’re self-employed. TaxSlayer’s free online plan is equivalent to TurboTax and includes return to state.
- If you have a complicated return, TaxSlayer saves you This platform is suitable for freelancers and simple filers. But while it’s easy to understand, it’s not the most user-friendly of the three. If this is your first time in tax and you are not very tech savvy, check out the other he two.
how are they the same?
All three tax programs offer multiple versions of online plans with different benefits at different price points. Each provides the following functionality:
- Free version for easy returns
- Plans for self-employed filers
- Import functions from other programs or sources
- Customer support for technical issues
- Audit assistance (levels of support vary)
- Refund tracking
- Accuracy guarantee
how are they different?
All three tax software programs offer multiple plans to choose from and tools to help maximize benefits (and avoid audits), but they are very different.
Here are some key differences between TaxAct, TurboTax, and TaxSlayer.
- price
- support
- Features and software
tax law It’s in between other platforms in terms of price, but it’s the only one that includes a free level of live support with Xpert Assist. This provider is also one of his three providers that charge extra for state returns if you qualify for the free plan. For more information, please visit TaxAct’s portal.
turbo tax The most expensive and most robust of the three packages. Expand your filing options with full prep and assisted DIY filing. Consistently one of our most popular providers, he has the longest list of guarantees. For more information, please visit the TurboTax portal.
tax slayer It offers high quality programs at low prices, but the software is not as guided as others. TaxSlayer is the only provider of three to offer the option of three years of audit assistance, including all forms, deductions, and credits on the second tier, Classic. For more information, visit TaxSlayer’s portal.
customer service
>TaxAct – Free Unlimited Xpert Assist
For a limited time, all TaxAct filers can consult an Xpert Assist expert for a tax and return review before filing. You can contact these experts by phone and share your screen.
>TurboTax – Paid Live Support Filing Plan
TurboTax requires you to upgrade your Basic Self-Filing Plan to a Live Assist or Live Full Service Plan and pay for Live Support. Otherwise, the free tier gives you access to tons of tools and resources.
>TaxSlayer – Premium and self-employed online paid support
TaxSlayer takes a different approach when it comes to customer service. If you’re paying for a Premium or Self-Employed online plan, whenever you have a question, ask a professional and get instant help.
Which should you choose?
Between TaxAct, TurboTax and TaxSlayer, there is no wrong decision. You should be confident in filing your taxes with one of these providers. That said, each offers unique benefits for people in different situations. Here’s how to choose the right one.
If you have a complex tax return and know there may be questions along the way, TaxAct offers an excellent combination of value and functionality.
If you want a program that will reveal your deductions and help you learn along the way, and you don’t mind paying extra, TurboTax might be for you..
Finally, if you want to save money or are self-employed, TaxSlayer offers the lowest prices whether you pay for extra support or not..