I was going to write this out in the common compare and contrast format, simply listing similarities and differences, but there are some parts that may require more explaining and so I have decided that is probably not the most efficient way. Instead, I will do my best to explain the basic concepts of Taoism compared to the basic concepts of Buddhism.
Taoism focuses on, of course, the Tao. The Tao itself can not be described, any so-called Tao that is described is not the real Tao. The Tao is not a god nor a deity, but rather perhaps a form of energy. The Tao flows through, upon, beneath, around, and within everything, animate or inanimate, everything possesses the Tao. Because of this, I have come to refer to it also as a universal energy. Others have even said that it is the universe itself, but I disagree.
A goal of Taoists is to become one with the Tao. To move, act, speak, etc, with the Tao. This is not to say they communicate with the Tao, but rather that they allow the Tao to flow through them in their actions. This could also be considered simply doing, or as the Tao Te Ching describes- doing not doing.
In my opinion/belief, becoming one with the Tao may also be considered enlightenment. Everything I have heard of either sounds the same to me. As you should already know, achieving enlightenment is the goal of most if not all Buddhists.
To look at differences, there are the four noble truths and the noble eightfold path to look at. The four noble truths state that 1) Life is suffering, 2) Suffering is caused by craving and aversion, 3) Suffering can be overcome and happiness can be attained, 4) The noble eightfold path is the path that leads to the end of suffering. There are also the five precepts to follow, which may be covered to at least some degree depending on where you learn from.
A difference in Taoism may be the act of energy manipulation. While it is not practiced in all sects, many Taoists practice feeling the energy(chi/ki/etc) flowing through their bodies. The most common benefit to this practice is the act of Reiki healing. Reiki healing is the art of healing yourself and/or others with nothing more than energy, it can be felt although not seen.
One problem I have with comparing Buddhism and Taoism is the ever-looming fact that both have so many different sects with so many different beliefs, some are more similar to the other than others of it's own system.
The last thing I will mention is Kharma. Consider what I said about different sects, I saved Kharma for last for that very reason. Many Taoists I have met believe in Kharma, but there are also many Taoists who do not. Some of those that do believe in it in a slightly different way.
There are many similarities to both Taoism and Buddhism, along with many differences. I can not list every single one here, to do so I would have to be a master of both and then the matter of different sects would still be ever-looming, perhaps even moreso.
I have posted this information for several reasons. One is that I said I would. Another, and why I said I would, I believe some people may enjoy reading this. Finally, at least one Buddhist teacher encouraged his students to pay attention to Taoist teachers during public teachings due to the knowledge the Taoists taught. I can not provide any Taoist teachings because everything I have found states those are given orally(not written, thus not online), but from what I understand the basic points and purposes are all beneficial to everyone, be they Taoist, Buddhist, or otherwise.
If you would like more information on Taoism, read the Tao Te Ching by Lao Tzu.
If you would like more information on Buddhism, be glad you are in this guild.
Loving Kindness: A Buddhism Guild
A Buddhism Guild for all Gaians, Buddhist or not
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