I have used Turbotax for several years. I use Home and Business as I file a Schedule C and through it is a time-intensive process, TurboTax walks me through every aspect of the Schedule C as well as other tax areas. I used an accountant several times before using TurboTax, but don't really think the results were any better with an accountant, but the cost was much higher.
What's great about it: Easy to use, comprehensive
What's not so great: Minor - Too many forms created for printouts
I have used TT for past 13 years and have been pleased with results every year. Especially pleased with the ability to take my accepted previous year TT return, create a TT model for the current year, insert data during the year, track tax implications during the year, adjust financial decisions accordingly and then upload model at tax preparation time. During upload I can be assured that TT will flag and make adjustments in my upload based on any new tax regulation changes. Most recent use of TT Home and Business covered business components, various investment modes and major life changes during the year very well. Tool was easy to use and help desk was extremely helpful when I needed to troubleshoot an issue that was delaying submission. Works well for me as a devout DIY'er.
What's great about it: Comprehensive yet flexible to allow customization and independent data entry and analysis.
What's not so great: Need functionality to create 2014 model, use 2014 model for 2014 upload but have 2013 actual used in 2013/14 comparisons
Pros: My job status changed this year (switched jobs, lost a job, got a raise or promotion), I bought or sold investments
As a full time futures and options trader, the TurboTax Home & Business edition covered all the necessary forms and deductions necessary for this home based business. Step by step questions and answers gets you through the process quite easily. Financial data from my broker is automatically transferred to the correct IRS forms. Its no different than sitting down with your CPA and having him ask the same questions. However, using TurboTax I found it a great tool for collecting and organizing the paperwork necessary to complete and document the entire tax preparation process.
What's great about it: Covered all the bases and the Audit protection option is an excellent benefit.
What's not so great: Need to include mark to market election Form 3115
"Home & Biz" is very well organized: allows me to prepare tax return over several weeks as W-2, 1099, K-1, etc. dribble in. I had hoped "Home & Biz" would guide me through 1031 Exchange and tax return for Estate/Trust, but I found "H&B" lacking in detailed info on IRS vs. CA FTB conformity regarding depreciation, as well as on "Like-Kind" exchanges. The tax return review process is inordinately complicated by pinpointing errors in tax worksheets (should go back to initial Q&A session to eliminate source of error).
What's great about it: great for organizing tax return
What's not so great: insufficient info on "difficult" tax matters