StudioTax vs TaxAct

StudioTax prepares and files Canadian personal income tax returns, from simple situations to returns involving self-employment or rental income. It supports CRA NETFILE, ReFILE, printed returns, Auto-fill my return, and Express Notice of Assessment. The personal license covers up to 10 returns, while CRA requirements limit filing to 20 returns per computer. The software is intended for individuals doing their own returns or preparing a small number for relatives and friends; tax professionals cannot use its NETFILE software for client returns. Desktop versions save returns on the computer, and StudioTax says personal information does not leave the computer. Windows and Mac versions support the T1135 foreign income form. Windows, iOS, and Android versions are certified for Revenu Québec NETFILE and printed returns; the Mac version is English-only and does not support Quebec provincial returns. StudioTax is free for eligible residents of Northwest Territories, Yukon, or Nunavut and for individuals with income of $20,000 per year or less, subject to its calculation rules. Returns from other tax programs must be transferred manually. StudioTax is based in Ottawa, Ontario, Canada.

TaxAct provides tax preparation through online filing, downloadable software, and a mobile app. Its tools can import tax data and calculate deductions, credits, and refunds. The service covers individual filing and business options for partnerships, C corporations, S corporations, sole proprietors, and tax-exempt organizations. Mobile features include photographing documents, checking progress, filing on the go, and getting expert help. Free federal filing is available for eligible standard returns, but the Free Edition is limited to Form 1040 without attached forms or schedules. It covers listed cases such as W-2, unemployment, and retirement income; investment, rental, business, and self-employed income and expenses are excluded. Other online products can be started free, with payment due when filing. Online Deluxe costs 59.99 USD once, Premier 99.99 USD once, and Self-Employed 109.99 USD once; state filing is additional. TaxAct also offers professional software and Xpert Assist, with unlimited live advice for consumer 1040 products.