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If you prefer to manage your own tax return rather than hire someone, an online tax prep service could be just the ticket to filing taxes this year. TurboTax® and TaxSlayer® offer multiple preparation options, from simple returns to complex tax scenarios.
This review explores each tax prep service's products, pricing, features, refund options, and customer service. Keep reading as we compare TurboTax and TaxSlayer side by side to see which is best for your tax needs.
Overview: What Is TaxSlayer?
TaxSlayer
- Our Rating 4.5/5 How our ratings work
Regardless of which tier you opt for, TaxSlayer offers users an incredible amount of value for a relatively affordable price. Featuring a free version meant for simple tax situations, as well as a Classic tier that includes access to additional deductions, credits and forms and a Premium tier that comes with robust customer support functionality, you'll likely be able to find a service offered by TaxSlayer that satisfies your needs. Plus, active military members can file their federal returns for free with TaxSlayer.
Overview
TaxSlayer offers four tiers of service, ranging from a free version that’s best for simple tax situations to a premium tier that includes live chat support, as well as priority phone and email support. While not everyone qualifies for TaxSlayer’s free edition – free users must earn less than $100,000 in taxable income and cannot claim dependents, among other requirements – pricing on all of TaxSlayer’s tiers compares favorably to its top competitors’ prices.
Pros
- Premium tiers are relatively affordable compared to competing products
- Free version available
- Free federal returns for active-duty military members
Cons
- Some tax credit forms not available in free version
- Free version not available to high-income users
TaxSlayer has been helping individuals file their taxes for over 50 years.
TaxSlayer offers tiered tax preparation packages online, all including free,
TaxSlayer is an online tax preparation service. The
Overview: What Is TurboTax?
TurboTax
- Our Rating 4.5/5 How our ratings work
TurboTax shines when it comes to customers who have more complex tax returns. The Deluxe Edition helps maximize tax deductions and credits, while the Premier Edition covers investments – including cryptocurrency and and stock activity – and rental properties. Plus, you can easily import your investment income automatically with TurboTax.
Overview
Regardless of how complex your tax return is, you’ll likely be able to find a TurboTax service that meets your needs. TurboTax offers five different pricing tiers, including a Free Edition (for simple returns only, not all taxpayers qualify), as well as multiple premium tiers geared towards more complicated returns. There’s even a full-service edition for anyone who’s worried about filling out their tax return incorrectly.
Pros
- A product for every tax situation, both simple and more complex
- The Premier Edition includes investments and rental properties
- A comprehensive review of your return, ensuring nothing gets missed
Cons
- Some products are more expensive than industry average
TurboTax is an online tax preparation software that offers a variety of
A division of software company Intuit, TurboTax comes in multiple versions to cover various tax scenarios, including simple
TurboTax allows you to prepare and file
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TurboTax vs. TaxSlayer: Products
Winner: Tie
TurboTax offers four versions of its online tax software. The free version is for simple tax returns only, and not all taxpayers qualify for it. Among other limitations, this version doesn't allow you to report un
TurboTax Breakdown
| TIER | SUMMARY | FEDERAL RETURN (FULL PRICE) | STATE RETURN (FULL PRICE) |
|---|---|---|---|
|
Free Edition |
For simple tax returns only, not all taxpayers qualify. Covers W-2 income, Earned Income Tax Credit (EIC), and child tax credits. |
$0 |
$0 |
|
Deluxe |
Includes everything in the free plan plus a search for 350+ tax deductions and credits. |
$69 |
$59 |
|
Premier |
In addition to features from basic plans, includes investments, rental property income, and deductions. |
$99 |
$59 |
|
Self-Employed |
Specifically geared toward freelancers, independent contractors, and small business owners. |
$129 |
$59 |
If you'd like to receive expert advice on your return – or even have an expert do your taxes for you in-full –
Like TurboTax, TaxSlayer carries
TaxSlayer Breakdown
| TIER | SUMMARY | FEDERAL RETURN (SALE) | FEDERAL RETURN (FULL PRICE) | STATE RETURN (FULL PRICE) |
|---|---|---|---|---|
|
Simply Free |
Works for basic 1040 returns. To use this option, you must earn less than $100,000 in taxable income annually from wages, salaries, tips, taxable interest of $1,500 or less, and/or unemployment compensation. You also cannot claim dependents, and must claim the standard deduction. |
$0 |
$0 |
$0 |
|
Classic |
Includes all forms, deductions and credits. |
$26.21 |
$34.95 |
$39.95 |
|
Premium |
Includes Ask a Tax Pro and live chat, and skip-the-line privileges for phone and email support. |
$41.21 |
$54.95 |
$39.95 |
|
Self-Employed |
Covers personal and business income and expenses, 1099, and Schedule C. |
$48.71 |
$64.95 |
$39.95 |
Right now, you can get the sale prices listed in the table above using coupon code SLICK25 at TaxSlayer.
Related Article
3 Things to Know Before Paying for a Tax Preparation Service
TurboTax vs. TaxSlayer: Features
Winner: TurboTax
TurboTax offers most of the tools and features you need to do your own taxes, including:
Mobile App: The TurboTax mobile app is available for iOS and Android.- Audit
Support : All TurboTax returns come with audit support from trained tax professionals. - Self-
Employed Tax Center: TurboTax features a special library of articles for self-employed individuals. Unemployment Center: There's a special support section for unemployment tax help.Tools : TurboTax provides calculators, help videos, checklists, and expense estimators to help you file your taxes.
TaxSlayer comes with access to several features and tools to help you prepare and file federal and state income taxes, including:
Mobile App: The TaxSlayer mobile app allows you to file taxes from nearly anywhere. The app is available for iOS and Android.Audit Assistance: Audit support is only available to customers who purchase the Premium package. The service provides audit support for up to three years after you file your tax return.Tools : TaxSlayer customers can access tools like help articles, a support database, a tax refund tracker, and refund calculators.
TurboTax vs. TaxSlayer: Guarantees
Winner: TurboTax
Along with a comprehensive review of your return before it's filed, TurboTax backs its product offering with five guarantees:
Maximum Refund Guarantee: TurboTax will find every tax deduction and credit you qualify for on your tax return.- 100
% Accurate Calculations Guarantee: TurboTax will pay any IRS penalties for incorrect calculations on returns. Audit Support Guarantee: Free guidance from a tax professional if you are audited.- Expert Approved Guarantee: TurboTax will pay any IRS penalties due to advice received from a TurboTax professional.
- Full-
Service Guarantee: Tax experts will only sign off on your return after they know it's 100% accurate and you're getting the best outcome possible.
TaxSlayer also stands by its products, offering two specific service guarantees to its customers:
Maximum Refund Guarantee: TaxSlayer will refund your software purchase if you receive a larger federal refund or pay less tax using a competitor's software.100 % Accuracy Guarantee: TaxSlayer guarantees its software will calculate with 100% accuracy and will reimburse you for any federal or state penalties incurred and interest charges due to calculation mistakes on its part.
TurboTax vs. TaxSlayer: Refund Options
Winner: TurboTax
TurboTax offers a few different refund options for tax returns. Customers can receive their refund in
Direct deposit to a linked bank accountDeposit to a Credit Karma Money™ Spend account- Loaded onto an existing
prepaid card - Paper
check by mail from the IRS
TurboTax also allows customers to check the status of their e-
TaxSlayer gives its customers
Direct deposit to a linked bank account- A
TaxSlayer Visa® debit card - Paper
check by mail from the IRS
You can also choose to have your softwar
Tax Hack: How to Get a Cash Bonus With Your Tax Refund
TurboTax vs. TaxSlayer: Customer Support
Winner: TurboTax
TaxSlayer provides
Here Are the 6 Secrets to Evaluating a Tax Preparation Service
Bottom Line: Is TurboTax or TaxSlayer Better for Your Online Tax Return?
T
TurboTax is one of the most
Determine your needs and compare features, costs, and support options to find the right DIY tax software.
Kevin Payne
Kevin Payne is a personal finance, credit card, and travel writer. He is the family travel and budget expert behind FamilyMoneyAdventure.com. Kevin lives in Cleveland, Ohio, with his wife and four kids. His work has appeared on several websites, including FinanceBuzz, Credit Karma, Millennial Money, Club Thrifty, Student Loan Planner and Slickdeals.
