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At U.S. News & World Report, we have a proven track record of providing unbiased rankings and recommendations to help readers make informed decisions. Whether it’s finding the best hospitals, colleges, or cars, our 360 Reviews team applies the same unbiased approach to evaluating the products you use every day. In this article, we will outline our 360 methodology for evaluating tax software programs, focusing on 13 programs that we thoroughly researched.
Why You Can Trust Us: 13 Tax Software Programs Researched
Our 360 Reviews team at U.S. News & World Report is committed to providing unbiased and trustworthy information. To ensure this, we follow strict guidelines in our research and evaluation process. Here’s why you can trust us:
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Unbiased Approach: We do not accept samples, gifts, or loans of products or services that we review. All sample products provided for review are donated after the review process. Additionally, our separate business team has no influence over our methodology or recommendations.
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Thorough Research: We conducted extensive research on tax software programs, analyzing 16 reviews to gather comprehensive information. Our team thoroughly examined 10 tax software programs to ensure that our recommendations are based on a wide range of options.
Our 360 Approach to Evaluating Tax Software Companies
To guide prospective consumers in choosing the right tax software, we follow a comprehensive 360 approach. Here’s how we research and analyze tax software companies:
1. Researching the Companies and Products
We started by researching the tax software companies that Americans are most interested in. Using publicly available data, including internet search data, we identified 13 companies that stood out in terms of consumer interest. We also considered factors such as cost, key tax forms supported, and the availability of expert help, which research shows are important criteria for people shopping for tax services.
2. Creating Objective 360 Overall Ratings
To provide objective ratings, our 360 Reviews team analyzed both professional and consumer reviews. Here’s how we calculated our ratings:
(a) Third-Party Ratings and Reviews
We compiled ratings and reviews from professional and consumer sources to create a comprehensive analysis. We considered reputable and well-researched third-party reviews from independent industry evaluating sources. However, since professional reviewers often have varying recommendations, we believe it’s important to consider and analyze these opinions collectively with an objective methodology.
We also reviewed consumer ratings and reviews of tax software companies, including sources with a sufficient number of quality reviews. Our goal was to include reliable and unbiased sources in our scoring model. However, sources that did not meet our criteria for objectivity were excluded.
(b) Standardizing the Inputs
To ensure accurate comparisons, we standardized the inputs from third-party review sources. These inputs were collected in different forms, including ratings, recommendations, and accolades. By using a common scale, we could compare the data points from various review sources.
We used a standard deviation (Z-Score) calculation to determine how each company’s score compared to the mean score of the source. This allowed us to convert the ratings into a standardized U.S. News score.
(c) Calculating the 360 Overall Score
To calculate the 360 Overall Score, we used a weighted-average model. We assigned “source weights” to each review source based on their trustworthiness, recognition by consumers, comprehensiveness, and editorial independence. Sources with lower weights were excluded from the consensus scoring model.
By considering the opinions and ratings from both professional and consumer sources, we created an unbiased and comprehensive 360 Overall Score for each tax software company.
Conclusion
At U.S. News & World Report, our 360 Reviews team is committed to providing trustworthy and unbiased recommendations for tax software programs. Our methodology involves thorough research, analysis of professional and consumer reviews, and the creation of objective 360 Overall Ratings. By following this approach, we aim to guide prospective consumers in making informed decisions about the tax software that best suits their needs.
