What are the Costs and Features of 2009 Tax Software?

Question: What are the Costs and Features of 2009 Tax Software?

Before you buy tax software for your business tax preparation, read this article comparing the 2009 versions of TurboTax, H&R Block At Home(previously TaxCut), and TaxAct.

If you file taxes for a sole proprietorship or single-member limited liability company (LLC), you will use the home (or "home and business") version of the software. If you are filing taxes for a corporation, partnership, or multiple-member LLC, you will need the business version of the software.

For more information on which tax forms you will need to file for your type of business, refer to this article on Taxes for Business Types.

Answer:

Free Versions
All of these tax software programs have a free version, but only TaxAct's free version includes Schedule C for self-employment.

Turbo Tax Software
To file a personal tax return which includes a Schedule C for a sole proprietorship/single-member LLC, you will need TurboTax Home and Business.

• Price: $99.95
  
• Format: download Windows or Mac; CD includes both Windows and Mac
  
• Included: Federal and state and e-file for both (5 federal e-files, unlimited federal returns; $19.95 to e-file a state return)

For business tax returns (corporation, partnership, multiple-member LLC), you will need Turbo Tax Business:

• Price: $109.95
  
• Format: Download or CD for Windows only
  
• Included 5 federal e-filed, unlimited federal returns; $19.95 to e-file a state return

H&R Block At Home (formerly TaxCut):
To file a personal tax return which includes a Schedule C for a sole proprietorship/single-member LLC, you will need H&R Block At Home Premium.

• Price: $49.95
  
• Format: online; start for free by setting up an account; you pay when you are ready to print
  
• Included: 1 federal e-file (state return/e-file $29.95 extra, per state)
  

For business tax returns (corporation, partnership, multiple-member LLC, you will need H&R Block Premium & Business:

• Price: $79.95
  
• Included 5 federal e-files, unlimited business state programs; 1 state download, $19.95 for each state return e-file

H&R Block also has a "Best of Both" software program for $99.95 for personal returns, which includes access to a tax professional who will check your return for accuracy. For this service, you will need to provide copies of your supporting documents by fax, electronic copy, or by bringing them in to an H&R Block office.

TaxAct Online or CD
All versions of TaxAct online personal tax return software include Schedule C. You prepare your return for free and pay when you are ready to file.
You can get:
Free federal (plus $14.95 per state), Deluxe federal (9.95, plus $8.00 1st state), $14.95 for additional states), all with free e-file.
The "Ultimate Bundle" is $17.95 for federal and state and free e-file.

For business returns, you pay by the return: $39.95 for either Form 1065, Form 1120S, or Form 1120S, plus $14.95 for a state return for this type of business.

TaxAct also allows you to purchase a CD for any of these programs for similar pricing.