TurboTax Vs eFile

Fit Wallet > TurboTax Vs eFile – Costs, Benefits, and Disadvantages

Costs, Benefits, and Disadvantages

Which tax software is best for your needs? We’ll compare TurboTax and eFile and their costs, benefits, and disadvantages. TurboTax is known for its customer friendliness and low price. TaxSlayer is a great low-cost option, and its interface is intuitive. The only downside to TurboTax is its high learning curve, but it is worth the investment if you want a user-friendly platform.

eFile
There are many benefits to using tax software to prepare and file your taxes. Not only can it make the process easier, but it will also provide step-by-step instructions. Many programs are built with features that are essential to preparing and filing your taxes properly, including auto-import of financial information. In addition to automating the process, they also offer live tax support and audit support. Read on to discover what makes eFile the best tax software.

User reviews of tax software include reviews, comparisons, and personal use. Among the most important features, accuracy is rated highest. Ease of use and price were ranked second and third, respectively. The availability of forms and states was another key factor, with the average hold time being 24 minutes. Customer support is still one of the least important features of tax software, with the average rating dropping to its lowest level since 2002. Nonetheless, customer support from eFile is the best, with the highest satisfaction scores.

Why TurboTax?

Tax assistance from a tax expert through chat support.

You can choose from four different plans, ranging from $79 to $199

For federal returns, you can get a tax refund in as little as 21 days.
You can also file your state taxes using TurboTax at no additional charge.

Although you can do your taxes for free with TurboTax’s free package, there are some limitations. For example, you can’t claim itemized deductions, and the program doesn’t handle Schedules 1, 2 or 3 of Form 1040. But TurboTax’s interface is like chatting with a tax preparer: you can skip around and get help when you need it. Embedded links offer tips and explanations for the various steps in the process. Moreover, help buttons connect you to an on-screen knowledge base and searchable knowledge base.

Although TurboTax doesn’t have any physical locations like H&R Block, you can still receive tax assistance from a tax expert through chat support. You can choose from four different plans, ranging from $79 to $199, depending on your needs. For federal returns, you can get a tax refund in as little as 21 days. You can also file your state taxes using TurboTax at no additional charge.

TaxSlayer

TaxSlayer
As far as tax preparation goes, the interface of TaxSlayer is simple to use, and the security features of the software are impressive. The company uses multiple types of security measures, including SSL encryption, server-side tools such as firewalls and intrusion detection systems, data obfuscation, and physical security guards. The company also employs a dedicated cybersecurity team, coordinates with state Departments of Revenue, and conducts regular internal audits.

The interface of TaxSlayer is unintuitive, and requires a lot of clicking around to find information. Users may need to use the navigation bar to find the relevant information, but that can be a hindrance on larger screens. TaxSlayer also does not allow users to upload their tax documents, though a higher-tier plan can import and upload these. If you have a lot of tax-filing experience, you may want to consider an alternative program.

Tax Act

TaxAct
If you’re a new taxpayer, you may be wondering if TaxAct is the best tax software. While some of the companies out there may offer the same features, TaxAct’s price is a bit higher. The company does offer discounts early in the tax season, but they are not necessarily included in the price of the software. You can see the current price on the company website. TaxAct has a formula similar to many other tax-filing software companies: you pay a one-time price for federal tax returns, plus another fee for state tax returns. If you’re unsure of anything, you’ll pay a second time, but only if the tax software makes a mistake. You’ll also not owe any money if you abandon the return.

The interface of TaxAct is similar to that of its competitors. There are a few similarities, however. The user interface follows a similar interview process, but it’s easier to jump from one section to the next, and there are embedded links to help you understand the steps. Users can also look up information through its searchable knowledge base and navigate through the program. TaxAct imports last year’s return from TurboTax, and it can import your Schedule C, Schedule D, and even Form 2441.