turbotax

Taxes 2010: Four tax prep solutions compared

We've all heard the famous quote before: Nothing is certain in life but death and taxes. And while you could try to avoid your taxes, Uncle Sam is probably going to make your life even more miserable if you do.

Rather than suffer the consequences of illegal action, we suggest you get a jump on your taxes with one of the four tax prep solutions we have thoroughly tested out for you: TurboTax (Web|Windows|Mac), H&R Block (Web|Windows|Mac), TaxAct (Web|Windows), and CompleteTax (Web-only). Oh, and--by the way--in the course of our testing, we … Read more

Hassle-free tax prep

For the past several years, TurboTax has impressed us with its clear language and simple step-by-step tax prep, and Intuit's offering for the 2010 tax year is no exception. The software continues to offer a straightforward and streamlined interface with a few feature improvements worth noting. Sure, you'll pay a little more for TurboTax than its competitors, but its ease of use could make it worth it for some.

The first thing we want to point out is that TurboTax comes in four versions--Basic, Deluxe, Premier, and Home & Business--each of which offer both an online prep option … Read more

TurboTax announces Glenn Beck ad pull via Twitter

Glenn Beck is a performance artist of the highest order. Whenever I have happened upon a little clip of him online, I feel that he has studied just about every successful TV evangelist. He seems to mimic their hand gestures, their little eye rolls. And just like the finest TV evangelist, he also seems to succeed in making a lot of money.

But for how much longer can his act be lucrative? Tax-preparation software company TurboTax on Wednesday became the 120th company to take its ads away from Beck's variety show on Fox.

Companies such as Kraft, Mercedes, Geico, … Read more

The 404 Podcast 530: Where we do a cost benefit analysis of Wilson's bagel

Aunt Jill Schlesinger joins the show today to talk about the value of bagels. That's right, for the last two days, Wilson has started the show by munching down on his new brunch fave: an onion bagel with lox and vegetable cream cheese. She makes her recommendations for the best bagels in town, and you might be surprised to find out that she's in love with a bagel made by a Vietnamese guy. In the meanwhile, she tells Justin that given his meager investments of 16 cents in his IRA, he should just file the 1040EZ.

When we finally get into some questions, Jill spreads her financial love. First up was a question about whether you should pay down student loan debt first or shove cash under your pillow. Aunt Jill says the equation is simple. First, have about 6 to 12 months of living expenses saved up. Second, pay down your debt if the interest rate is higher on the debt than your savings, which more than likely is the case now.

Next, we had a question about whether to throw your money into a 401(k) account. One listener doesn't trust the market, but given his age, Jill says he should man up and put his money into the market. He has 40 years of work left and during that time the market is going to go up. There will be some downs, she says; however, she believes there will be more ups than downs. Jeff thinks at the rate Social Security is going, though, that he might have another 70 years left of working.

We got a lot more questions answered on this surprisingly educational episode of The 404. Just to keep it in the tech world, we asked Jill if there were any technology-related investments we should make. Jill points out that this is the ultimate "put all your eggs in one basket" for people who work in tech! Spread the risk! Wilson thinks that he should take all his money out of APPL right now.

As usual, we love having Jill on the show. If you have any more questions for her, be sure to add her on the Twitter at @jillonmoney. In the meantime, add The 404 at @the404, or the rest of the guys at @rhapsodyartist, @jeffbakalar, and @malusbrutus. Plus, you can check out her daily ramblings at CBS MoneyWatch. Call in and leave your Jill love at 1-866-404-CNET (2638). Tomorrow, we have the lovely Alison Rosen on the show to talk all manners inappropriate.

EPISODE 530 Subscribe in iTunes audio | Suscribe to iTunes (video) | Subscribe in RSS Audio | Subscribe in RSS Video

Taxes 2009: TurboTax vs. H&R Block vs. TaxAct

We know, tax time is the pits, but if it makes you feel better, we did ours six times while researching the pros and cons of TurboTax (Windows|Mac|Online), Tax Act (Windows|Online), and H&R Block At Home (Windows|Mac|Online), formerly called H&R Block Tax Cut. So we know a thing or three about taxes. (And we hate them six times more than you do.)

Obligatory disclaimer: We tested both the online and desktop versions of the Deluxe version of TaxAct, TurboTax, and H&R Block At Home (called Ultimate Bundle in TaxAct, since it includes the State return). We prepared our Federal and California state taxes online and on a Windows 7 computer, using our real W-2s and tax forms, so our experience may not reflect your personal situation.

What you need to know about tax prep software

Which one?: Most software comes in four levels of guidance covering simple returns (the 1040 EZ form) to the complex. Most people go with Deluxe, which walks you through deductions for things like home owners and renters, investment income, dependents, and charitable donations. Premier or Premium adds on home ownership, rental property, and more complicated investments and deductions; Business keeps an eye on small-business owners after going through personal investments and deductions. E-filing versus printing: E-filing can net you a refund in as few as 8 days, whereas refunds on tax forms you print and mail can take up to 6 weeks. Most programs include at least one free Federal e-file for one tax return, but additional e-filing costs rack up after that. Many packages charge extra to e-file State returns or returns for additional family members. Online and desktop: All three programs offer online and desktop versions. H&R Block At Home and TurboTax support Windows and Mac; TaxAct is Windows-only. Online versions mostly mirror desktop versions, but with minor differences. Desktop software is typically licensed for up to five free Federal e-files (you can print off as many as you'd like), while online tax prep usually includes one free Federal e-file. Online tax returns are encrypted and stored on the provider's Web servers. Desktop returns are stored locally on your computer.

TurboTax vs. TaxAct, vs. H&R Block At Home: What's the difference?

When it comes down to it, the actual content of the tax interview--the questions and sections that the tax apps guide you through--is nearly identical in these competing programs, including the online and desktop variations. Clarity in language, extra tools, and help and support features are key differentiators, not to mention the price. We sum these up below. See more pricing charts here. Read full reviews on TurboTax, TaxAct, and H&R Block At Home.

Best of the bunch

Every year, Intuit adds something new to its online and desktop TurboTax tax prep software from the previous year. Since the online and desktop versions of TurboTax Deluxe 2009 are so similar, we're reviewing them together. We'll make a note when referring to just the online or just the desktop product.

Installation and setup

As with most desktop DIY tax software, TurboTax can take from 10 to 15 minutes to install, scan for updates, and download those updates before you can get started. If you're filling out your taxes online, you'll need to only wait for … Read more

Best of the bunch

Installation and setup

Intuit's chief on economy: Welcome to the 'new normal'

This was originally posted at ZDNet's Between the Lines.

Intuit delivered second-quarter results that illustrate that it is recession-resistant, but a lot of the game plan revolves around cost cutting and innovating in a downturn. The rub: Intuit CEO Brad Smith doesn't consider the economic landscape a downturn per se, but a "new normal."

On the company's earnings conference call (statement), Smith said:

Now clearly we have seen some fundamental changes in the economy in the recent months. These changes have only bolstered my confidence that we are on the right path. We don't … Read more

Why desktop tax prep beats online tax prep

Preparing your taxes online offers some advantages over doing them on the desktop--you don't have to wait around for installations and updates, for one--but for taxpayers like me, there are certain rewards to desktop tax apps like TaxCut (review) and TurboTax (review). As part of CNET's tax coverage this year, we wanted to compare not just TaxCut and TurboTax, but also the benefits of filing taxes online versus filing with desktop software.

The benefit of desktop tax software boils down to two points: the number of e-files you get for your money and where the software stores your … Read more

First Look video: TurboTax vs. TaxCut

Finding your way to the right tax-prep program is almost as complicated as doing the taxes themselves.

In this First Look video, we'll walk you through the pros and cons of the superpopular tax-prep programs TaxCut (by H&R Block) and TurboTax (by Intuit.) The differences between them add up to more than just looks and cost.