TurboTax And Jackson Hewitt Compared

Now it is tax time 2015 for filing your 2014 tax returns. Many people have not filed their tax returns yet. If you are one of those individuals and are considering a paid preparer or tax software, know that the best-selling packages are Jackson Hewitt and Intuit’s TurboTax.

You may look into online tax filing, too. The most basic tax returns are free with support provided through live chat and support email. It is possible to download your W-2 forms, and tax returns from past years can be imported from other tax companies. If you choose the TurboTax 2015 free edition or the tax package from H&R Block, you will not have access to such options as they can only import their own past returns.

Complicated returns filed through Jackson Hewitt tax locations cost $19.95, and upgraded tax software for home owners and families from TurboTax is $34.95. Owners of small businesses and self-employed individuals may purchase their TurboTax tax programs for $49.95. The price on all state returns is $34.95.

Regarding TurboTax, the company has had some trouble recently. When it increased its Deluxe edition pricing, customers were upset, and General Manager of TurboTax, Sasan Goodarzi, said that the company just did not think ahead. Also, some states would not take TurboTax returns because of concern over fraud for a short period of time. TurboTax has since made the TurboTax login more secure and given rebates on its Premium edition for those that purchase the less thorough Deluxe version.

TurboTax is giving customers free upgrades and rebates for the next year. Any program purchased before the security was upgraded will be refunded $25 until April 20, 2015.

And returning TurboTax users may take advantage of support on the earned income credit. Costs are a little higher than Jackson Hewitt: $34.95, or a full $15 higher than Jackson Hewitt. State returns prepared with TurboTax are $2 more than with Jackson Hewitt.

Lastly, TurboTax offers a small business software package for $79.99. The software allows the user to import his tax deduction figures directly from the popular bookkeeping software QuickBooks.

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Refund Offered For Software Change Mistake

Some users of TurboTax Deluxe software were recently offered an apology, along with a $25 refund. This action comes as as a result of a software mistake made by Intuit on their 2013 edition of TurboTax Deluxe.

Get Your Maximum Tax Refund

Intuit freely admits their mistake and has taken these actions in order to make right with their customers and help gain their reputation back. However, some customers are not happy due to the fact that the TurboTax Deluxe 2014 edition sold for the same price as the 2013 edition, even though the newer edition will no longer be able to help customers who need to electronically file a Schedule C, D, E, or F. This means any tax filer who had capital gains or losses, had rental income, receive partnership royalties and distributions, had farm income, or needs to file a profit and loss statement will need to upgrade from the Deluxe package to the Premier package, or the even pricier home and Business TurboTax edition.

Up until recently, some customers who called to complain were able to get a free upgrade, or a $25 credit once their return was filed.

TaxACT Logo (Photo credit: Wikipedia)

TurboTax is one of the most frequently used tax software programs, with 28 million filers, while H&R Block and TaxAct each had about 7 million users filing with their tax software. In fact, H&R Block has offered former TurboTax customers a free download of their deluxe program plus state. They have not disclosed numbers yet, but have reported an “overwhelming response” to their free offer. TaxAct has not followed in their foot steps.

Only time will tell how many customers will stay loyal to TurboTax 2015 and how many will make the switch to a different, possibly more budget friendly tax software program.

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