Pros Cheaper than TurboTax, electronic filing means quick refund
Cons Deduction pro is a little useless to me
Summary I have used Taxcut the past 3 years and I really love it. I used to do taxes on paper by hand and I can't imagine going back to that now. Taxcut makes it so easy. There is just a simple interview and it brings to light all sorts of possibilities I never would have thought of on my own. Also, with Electronic Filing you get your refund back in about 2 weeks or less. I have never used TurboTax but I imagine it is very similar. I chose Taxcut because it is about $20 cheaper for the equivalent product and I have not had any regrets whatsoever.
Pros Imported Turbo Tax info with ease. Good user interface.
Cons Depreciation function is near useless. No flexibility. Only way to override is to manually calculate and enter each year depreciation--defeats purpose of getting tax software.
Summary I got the Business version and don't recommend it. Basic will probably be fine for most people.
Pros The interview seems extensive
Cons Doesn't handle rental properties well, Customer service is unprofesssional
Summary This year, I thought my return would qualify as being simple enough to be handled by TaxCut 2007. If I were to encounter any problems with my return, their extensive customer support would surely be able to help me out. Not the case - for either. My mistake.
To summarize my issue, and to spare the boring details, TaxCut insisted on double-deducting the property taxes that I had paid on my rental property during the portion of 2007 that I had inhabited it. After two calls to with customer support, I caved in and went with a "Pro". Not wanting to wait 4 hours for a phone response, I elected to work via email. So, I wrote a descriptive summary of my problem. Thankfully, I didn't need to spend an additional $19.95 for this, since the first time would be a free-be. However, not only was the support that I received from the "Pro" unhelpful, it was unprofessional. For example, I was told to "drop the worksheet", and "delete that other mess". The responses were not complete, and certainly not actionable. Once again, I'm glad that hadn't paid $19.95 for that.
So, after purchasing TaxCut Premium for $70, I'm still unable to file my return.
In general, I would recommend staying clear of this product for any but the most simple of returns. Go with an accountant - it's what I'm going to do.
Pros Federal very quick and easy
Cons State Product(s) are not well designed
Summary As always the federal product is very good, the customer support is good. (They are responsive and pleasant) The State programs have issues. (Manual paper is perhaps easier) The efile is great... if your state program actually works so that you can do an efile with it. -