Tax Software: which is the best ?

James,

I usually use a browser based client end to a server-side software.

The one I used this year is Turbo Tax (from Intuit, the makers of Quicken). Using an online service eliminates the need to keep your software updated.

I haven't ever used it to do tax modeling, but in my experience it has done well in finding savings for me.

I only do limited forecasting with taxes, and I tend to do it from the financial software I use (Microsoft Money Small Business 2005).

I have used both taxcut and turbotax in the past. (about $30 each, plus free state software.)

Both have worked out just fine. Not much difference between them really. Different levels of each software depending on how comfortable you are with doing some of the work instead of listening to long videos designed to help you. (Turbotax, Turbotax Deluxe, and Turbotax Small business. I think you need Deluxe to get planning.)

Both are available online or in the store. They usually come out for the tax year in Nov with online updates after the first of the year. It always checks for new updates before you complete your taxes. They both have planning for the next year based on this year's tax law.

Each year you get new software that loads your information from the previous year. Probably a good thing because the changes are so many that it would be impossible to update an existing program from year to year. Once you have purchased one of the products and registered they send you info to get it for next year. (I buy it in the store when it bundles with free after rebate Norton Systemworks.)

CDK and parados:

Thanks for the input. Your advice and experience squares pretty well with my research. I think TurboTax Premium is the ticket, for now. I am getting close to the AMT and have also opened a couple of new accounts in Vanguard's mutual funds and am unsure as to how much capital gain will be distributed (none if I'm lucky), so I wanted something to help with some simple tax modeling. Thanks again.

JM