Like everyone, I don’t like doing my taxes. I procrastinate as long as I can before start my tax return. I have realized over the years that the best tax software deals and discounts are all gone by the time I sit down to do my taxes.
Let’s take a look at two popular tax products on the market – H&R Block and Turbo Tax and how their prices varied over the 6-month period from November 2019 to April 2020 (for the 2019 tax products). The prices I looked at was for the 2019 tax year. The price history data I looked at is from Camelcamelcamel.com, which tracks Amazon prices for a product over time.
There are other websites that sell these software products too. I have assumed that since Amazon is a marketplace with many sellers, if other websites drop prices, Amazon will too, at least most of the time.
Let’s take a look at the data.
I looked at the price of the H&R Block Deluxe version since that seems to be the most widely used version.
H&R Block Federal Deluxe (no state tax included)
Lowest price – $14.47
Date of the lowest price – Nov 28, 2019
H&R Block Federal Deluxe + State Taxes
Lowest price – $19.99
Date of the lowest price – January 17, 2020
I looked at the price of the TurboTax Deluxe version since that seems to be the most widely used version among TurboTax products.
TurboTax Federal Deluxe (no state tax included)
Lowest price -$29.80
Date of the lowest price – January 20, 2020
TurboTax Federal Deluxe+ State
Lowest price – $39.80
Date of the lowest price – January 26, 2020
Taking a look at the data from 2019, it is clear that you should buy early. There are no good deals in March or April when most people are busy doing their taxes. The best deals are between November and January. Another thing that stands out is that TurboTax is priced significantly higher compared to H&R Block for a similar tier of software.