TurboTax comes in four variations - Basic, Deluxe, Premier, and Home & Business. This little guide will help you choose the TurboTax that is right for your needs.

TurboTax Basic - $18.99
This is best for those whose only tax-related documents received for 2007 were a W-2 (or more than one if you worked for more than one employer in 2007) and possibly a 1099 showing other additional income. TurboTax Basic users typically would just be using the Standard Deduction and not have a need to search for additional deductions.

TurboTax Deluxe - $39.99
This version includes everything in Basic plus a handful of great additions that help make this version of TurboTax the most popular tax software out there. TurboTax Deluxe helps you maximize your refund by searching through over 350 possible deductions that might apply to you.

It also reduces your risk of an IRS audit with the Audit Risk Meter® which shows you areas of your tax return that could pose the risk of an audit. It also makes suggestions to help lower the risk of an audit.

TurboTax Premier - $58.47
Premier covers all of the above, plus some helpful features for those with investments and/or rental property. Guidance on how to maximize your investments without lowering your take-home pay is one of the main extras.

If you own rental property you know what kind of a headache it is to keep track of everything and TurboTax Premier simplifies things for you and even guides you on refinancing if that is a viable option.

TurboTax Home & Business - $64.49
Again, this flavor of TurboTax has everything that the above versions have plus a feature that sole proprietors and self-employed individuals will find priceless.

Anyone who has ever attempted to fill out a Schedule C knows what a horribly challenging experience it can be. It's no wonder people pay hundreds of dollars to accountants in order to file their taxes. TurboTax Home & Business makes it easy to handle any possible deductions and shows you deductions you never knew about.

The business portion of TurboTax Home & Business lets you create W-2s, 1099s, chooses the best depreciation method and more.