Yes, that time of year has rolled around again. It's time to fess up and pay your taxes. Now, most of us don't even start thinking about our 1040's until around February when we have all our W2's, 1099's and other forms in-hand. But, I thought I would give you an early heads-up on which tax preparation software you might wish to choose, if you do your own taxes.
PC Magazine has done an in-depth review of the top three tax programs for 2006, TurboTax, TaxCut, and TaxAct. Unfortunately, they did not put them all in one place, so you will have to click on each link independently to read the reviews. But, if you want to know the full scoop on each one, it is worth the trouble.
If you don't want to read the reviews, here is the bottom line: TurboTax got the Editor's Choice Award, by a country mile. It seems TaxCut has fallen behind in features and is only recommended for those folks who have used it in the past. TaxAct, as was true in the past, is a distant third. Also, TaxAct used to be free, but is not any longer.
There are also several versions of each software, depending on your filing needs. The good news for fellow Washingtonians is that we can usually get the least expensive version as we have no state income tax. To determine correctly which version of a particular software you should buy, I recommend you look at the back of a package of any version of your software of choice where there are usually comparison charts to help you determine which version is best for you.
Also, there are several sites on the Web where you can do your taxes. PC Magazine did a review a year ago, and if that is an option for you, you might want to read it, even if it is a year old.
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