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TaxACT vs TurboTax®: Federal Tax Preparation Software Review

TaxACT vs TurboTAX

The deadline for filing your 2011 federal tax return is fast approaching, and many people will rely on online tax preparation software to complete the task. Choosing a online tax software is easy because, in most cases, you can complete your return for free and pay only when you file.

TurboTax®, still the dominator of the tax preparation software market, faces increasing competition from H&R Block At Home™, TaxACT, and other lesser-known programs. For my 2011 tax return, I decided to compare/contrast the online versions TurboTax® and TaxACT.

My wife and I have a slightly more complex tax situation than we had the previous year. In addition to the regular year-end statements, I have a K-1 form (prepared with a TaxACT business product) for a partnership I started in 2011. Happily, I don’t have any 1099-MISC statements (from contract work) to contend with this season.

Price

It’s hard to find a better price than free, and that’s exactly what you get with TaxACT. Any form you need to complete your personal taxes is available in TaxACT’s free edition. It’s what I’ve used the past couple of years.

For this comparison, I looked at TaxACT Deluxe Federal Edition ($9.95) and TurboTax® ($34.95) Basic because I thought they were comparable editions. Both offer the ability to import tax statements from certain employers and financial institutions, and both offer free phone support. When it came to entering the information from my K-1 statement, however, TurboTax prompted me to upgrade to the Deluxe version ($49.95).

Interface

TaxACT’s interface was comfortable enough for me. Like TurboTax®, TaxACT will either guide you with questions or allow you to fill in information without much prompting — the choice is yours. Though I chose the guided approach, I somehow missed the option for importing statements. Poor design or operator error? Probably the latter.

I felt like TurboTax® prompted me more thoroughly than TaxACT during the interview process. It also allowed me to enter more information from my K-1 statement than TaxACT did; however, the end result — a welcomed refund — was exactly the same with both, which is how it should be.

Conclusion

If two tax softwares provide the same results, I say go with the less expensive one. TaxACT Deluxe Federal Edition is the winner here. Ten bucks doesn’t go as far as it used to, but it will allow you to file an accurate tax return. And if the import and phone support features of TaxACT Deluxe don’t seem worth it to you, there is always TaxACT Free.

Punjana Irish Breakfast: My St. Patrick’s Day Celebration

Of the many gifts the Irish gave the world, at least two were intended to be tossed back frequently: extra stout beer and strong black tea. I hardly touch alcohol these days, but I do appreciate a strong Irish tea.

My St. Patrick’s Day celebration began early in the morn whilst changing my son’s poopy diaper. The blueberries he ate the day before turned his stool a dark, mossy green — a reminder to me that this was the day to pay tribute to the Emerald Isle.

Since my last visit to a Big Lots store (about 5 years ago) they’ve added an international foods section, which happens to stock an Irish tea I’ve been wanting to try. Oh what my life has come to. The tea in question is Punjana Irish Breakfast, and drinking it — in addition to wearing a green shirt — would be my only commemorative activity of the day.

The tea itself was a pleasant surprise. I read about how flavorful it was compared to other Irish teas — a point that was proven true.

While its body isn’t as thick and its taste isn’t as malty as Barry’s or Lyons brand teas, it seems to exhibit a brighter and sweeter tone. I steeped one tea bag for about 5 minutes (much longer than the Irish brands mentioned above), yet I didn’t detect any bitterness in taste.

Punjana Irish Breakfast tea stood up well to milk and only required a little honey. I have 79 more tea bags which I intend to drink in the afternoon at work — hopefully with the help and in the company of others. Here’s to the Irish!

UPDATE 3/20/2012: Punjana Irish Breakfast tea steeps just as quickly as other Irish brands. If you give the tea bag a nudge or two while steeping, you can get a perfect cup in about 2 minutes. Five or more minutes will result in bitterness.

UPDATE 4/6/2012: This is great f***in tea! My new favorite.

Tie-Guan-Yin Z078 from Upton Tea

Upton Tea sells many teas you should know about. This review concerns their Tie-Guan-Yin 2nd Grade (product code Z078).

Tie-Guan-Yin is a variety of Oolong created through a series of steps that involve sun withering and leaf tossing. Sometimes Tie-Guan-Yin is roasted for a darker color and rich flavor, but not this one.

I placed a big spoonful of tea leaves — which my coworker said looked like pot — in a tea filter, added boiling water, and let step for 3 minutes. It brewed to a dark yellow color, similar to many green teas I’ve had.

This impressive Tie-Guan-Yin was smooth and slightly sweet. I did not detect any bitterness or acidity — very pleasant all around.

While black tea may be my preference, I will certainly schedule this Tie-Guan-Yin into my day until the sample packet is empty. After that, I have more Upton Tea samples to work through; however, I will someday return Tie-Guan-Yin #Z078.

PG Tips vs Twinings English Breakfast Tea: A Tea Bag Battle

It’s a battle of two tea bags — a little workplace frivolity instigated by my co-worker, who recently purchased a pack of Twinings English Breakfast from Walmart. So, which delivers a better brew — the traditional stringed tea bag from Twinings (very common in America), or the state-of-the-art meshed floater from PG Tips?

Comparing these two teas is a bit like comparing Budweiser and Bud Light beer. But which one is which?

I’ve depended on PG Tips for years. What it lacks in complexity, it makes up for it in body, strength, and malty goodness. Twinings English Breakfast is something I’ve had maybe once and never considered again. I believe both brands contain blends of Assam, Kenyan, and Ceylon teas, but I don’t know for sure.

PG Tips wins this contest hands down. When I drink a “breakfast tea”, I want a full body that will stand up well to milk and a little bitterness, which I like to temper with honey. It brews perfectly in about 2 minutes.

Twinings English Breakfast was better than expected. If you want a moderately strong tea that can be drunk without milk and/or sweetener, it’s a decent option; however, there are more flavorful loose leaf teas out there that better serve this purpose (including English Tea Store’s Scottish Breakfast, reviewed recently at Second Cuppa). Approximately 4–5 minutes will yield the desired result.

I’ve read (but not yet verifed) that the UK and US versions of Twinings are not the same. I don’t believe the same is true regarding PG Tips.

In summary, PG Tips is the Budweiser and Twinings English Breakfast is the Bud Light. Good night.

The Truth About Decaffeinated Tea

Most of us tea lovers crave a satisfying cup of the real thing (as opposed to the herbal variety) in the evening; however, we avoid such an indulgence because caffeine tends to disrupt sleep. Decaffeinated options are available, but how do they taste? Is the decaffeination process safe, and how effective is it?

Can You Decaffeinate Tea Yourself?

Do-it-yourself instructions for decaffeinating tea are widely available on the Internet. The process is as follows: steep the tea for 30–45 seconds to release the majority of caffeine, drain the water, and steep again. Voilá, you have great tasting tea minus the caffeine.

But wait! As the dude (from the movie, The Big Lebowski) might say, “New sh*t has come to light, man.” The notion that most of tea’s caffeine can be removed by an initial 30–45 second steeping is just a widespread myth.

Firstly, it takes much longer that 30 seconds to remove the caffeine from tea — 15 minutes is more like it. Secondly, both the tea’s caffeine and flavor are released at the same time in water; when the caffeine’s gone, so is the flavor (click here and here for more information).

Commercial Tea Decaffeination Processes

In the United States, tea must have 98% of its caffeine removed to be sold as decaf. Three decaffeination methods exist today — all involve the use of solvents to extract the caffeine from the tea leaves. These solvents are as follows:

Methylene Chloride: Also known as dichloromethane, trace amounts of this solvent remain in the tea leaves after decaffeination. Because large amounts of this chemical have been linked to cancer, many tea drinkers avoid tea decaffeinated this way. As of this writing, most teas are decaffeinated using methylene chloride.
Ethyl Acetate: This chemical occurs naturally in tea. Although this decaffeination process is considered safe, much of the tea’s flavor is removed as a result.
Carbon dioxide (CO₂): Considered to be the safest and least destructive to the tea’s original flavor, this decaffeination process involves pressurizing the CO₂ so that it liquifies. The carbon dioxide is then used as a solvent to remove the caffeine.

Sadly, many brand-name tea makers do not use the CO₂ process. For example, Unilever, the manufacturer of the popular PG Tips and Lyons brands, uses dichloromethane (according to this source) to produce its decaffeinated teas.

Tea manufacturers typically don’t place caffeine extraction information — especially if it involves ethyl acetate — on the packaging. If you are uncertain or concerned, simply contact the company via email.

Independent tea merchants, such as English Tea Store, Upton Tea Imports, and Adagio, are your best bet for finding CO₂ decaffeinated teas. If the carbon dioxide method is used, it will be proudly mentioned on the company’s website. English Tea Store, for instance, claims to remove the caffeine with CO₂ early in the process, at the green leaf stage, and then allows the tea to mature as usual.