TaxSlayer Self-Employed is a more affordable option with comprehensive import capabilities and included audit assistance, making it suitable for users confident in their tax filing abilities. TaxAct Premium+ offers a user-friendly interface and a deduction maximizer tool, but audit support is an additional cost, and it lacks support for importing certain 1099 forms.
| Attribute | TaxSlayer Self-Employed 2024 | TaxAct Premium+ 2024 |
|---|---|---|
| Self-employment income support | Designed for those filing Schedule C, using 1099-MISC, and filing both 1099 and W-2 forms. It guides you through entering business income and expenses. | Supports filing taxes for freelance, business, and 1099-NEC income. Caters to self-employed individuals, including sole proprietors, S-Corporations, and LLCs. |
| Business expense tracking | TaxSlayer simplifies tracking expenses, which is helpful for freelancers and small business owners. | Allows claiming personalized business deductions. |
| Schedule C support | The software supports Schedule C, which is essential for claiming expenses to offset income and minimize tax liability for self-employed individuals. | Includes Schedule C for reporting business income and expenses. |
| Estimated tax payment calculation | TaxSlayer Self-Employed provides reminders for quarterly estimated tax payments. | Provides tools to calculate, schedule, and manage estimated tax payments efficiently. |
| Audit support | Premium and Self-Employed plans include IRS audit assistance for up to three years after the return is accepted. This includes help preparing for an IRS audit. Full-service audit defense, offering representation, can be added to any plan. | Partners with ProtectionPlus for audit assistance at an extra cost. ProtectionPlus provides guidance through the audit process, handles IRS correspondence, and assists with tax debt and fraud incidents. TaxAct does not offer in-house audit support. |
| Tax deduction finders | TaxSlayer Self-Employed includes a deduction finder to help maximize savings. | Includes a deduction maximizer tool that offers customized deduction suggestions based on your tax situation. It also has a Deduction Assistant. |
| Import capabilities (W-2, 1099) | It can import W-2 and 1099 data. You can also import your prior year return as a PDF. It allows you to import your 1040, 1099-MISC, 1099-NEC, and CSV files for stock transactions. You may also be able to directly import stock transaction data from your broker. | Can import W-2 and previous year's returns. W-2s require Employer's Identification Number. All tax forms outside of your W-2 will need to be entered manually, including unemployment income and all 1099 income forms. |
| State tax return included | A state return is included for free with the Simply Free plan only. Otherwise, state returns are additional cost. | State returns are not included in the federal price and are an additional cost. |
| Accuracy guarantee | TaxSlayer guarantees 100% accuracy and will reimburse penalties and interest charges resulting from miscalculations. It handles all calculations with a 100% accuracy guarantee. It automatically calculates self-employment tax based on reported profit. | Offers a $100,000 accuracy guarantee. |
| Customer support options (phone, email, chat) | General support via phone and email is available to all users. Premium and Self-Employed users get live chat support and access to tax professionals. | Offers customer support via chat, email, and phone. However, customer care does not include tax advice. |
| User interface and ease of use | The interface is generally easy to navigate. TaxSlayer is considered suitable for users reasonably confident in their tax filing abilities. It has an interview process. It is considered intuitive to use, with a Q&A guided experience and the option to pick and select forms. | Has a user-friendly interface that is easy to navigate. It employs a question-and-answer format to guide you through the process. |
| Price | Self-Employed: Federal return is $72.95, and each state return is $47.95. NerdWallet users receive 20% off federal filing costs on Classic, Premium, and Self-Employed packages with the code "Nerd20". | $109.99 for a federal return. The cost per state return is additional. |
| Ratings | Not available | Not available |