Among the unavoidable life events that we all dread, such as washing dishes, going to the DMV—or even worse, the dentist—Tax Day is definitely up there.
That's where TurboTax comes in. The widely used online tax preparation software is designed to help individuals and small businesses file federal and state income taxes with ease. Developed by Intuit, TurboTax guides users step-by-step through the filing process, using simple language and prompts to ensure that every deduction and credit is accounted for. It also guarantees 100% accurate calculations and will cover IRS or state penalties if there's a calculation error.
The tax site offers a range of services tailored to different financial situations, including the TurboTax Deluxe edition for those looking to maximize deductions and the TurboTax Premium edition for freelancers, self-employed individuals and small business owners.
TurboTax also provides features such as live assistance from tax professionals, as well as tax advice, audit support and a maximum refund guarantee. With its user-friendly platform and customer support center, TurboTax helps make tax filing less stressful. So whether you're looking to do your own tax preparation with some assistance from a professional or would like to connect with a small business tax expert, TurboTax has you covered.
Want to file your taxes even faster? You can use the TurboTax mobile app, which features a facial recognition login for easy access. Use your phone's camera to scan your W-2 or upload supported tax documents to help populate your return.
For additional resources, refer to TurboTax’s online tax tools, including a tax calculator, tax bracket calculator, refund trackers and the tax documents checklist. The tax service website also has a section devoted to tax tips, with a variety of videos and how-to articles that can help you navigate your tax situation.
TurboTax Deals & Discounts
TurboTax usually has a discount on its services during tax season. This means you can expect to see deals on TurboTax software from January through April. While the tax site may offer Cyber Monday and Black Friday deals, you'll likely find better offers during the tax season period. For instance, past deals have featured up to 20% off TurboTax federal products.
Here are some other special discounts that taxpayers can qualify for:
- Education Tax Credits: Qualifying students may be eligible for over $1,000 in education tax credits and deductions. You could claim up to $2,500 through the American Opportunity Tax Credit or up to $2,000 through the Lifetime Learning Credit.
- Student Loan Interest Deduction: If you're paying off student loans, you may qualify for a deduction of up to $2,500 in student loan interest, depending on your income and eligibility.
- Earned Income Tax Credit: If you have a low to moderate income, you may qualify for this refundable tax credit, which can help reduce your federal income tax bill or increase your tax refund.
- Child Tax Credit: If you have children under age 17, you may qualify for a credit of up to $2,200 per qualifying child. Depending on your eligibility, up to $1,700 per child may be refundable.
Of course, don't forget to check this page for any available TurboTax discount codes so you can save money on your tax return service or TurboTax software. Please note that you can only get Cash Back if you purchase one of the paid tax services. The TurboTax Free Edition is not eligible for Cash Back.
TurboTax Product Categories
TurboTax offers a range of products, including TurboTax online services and desktop software. Here's a roundup of products that'll help you determine which tax preparation method is the right fit for you.
TurboTax Free Edition
Taxpayers that only need to file with a simple Form 1040 and prefer to do their own taxes via electronic filing are eligible for the TurboTax Free Edition, which comes with no additional cost. Additionally, those filing taxes with Earned Income Tax Credits, Child Tax Credits and student loan interest deductions qualify for the free version.
On the other hand, some examples of situations that aren't covered under TurboTax Free Edition include business income, unemployment income and itemized deductions claimed on Schedule A. Keep in mind that if you use the free filing option, it will not qualify for TurboTax Cash Back rewards.
TurboTax Expert Assist
If you're doing your own taxes but would like to connect with a tax expert for help, then TurboTax Expert Assist is recommended. For an additional fee, this option is an upgrade from the free edition and gives you access to live tax experts who can guide you along the way. Plus, they'll review your return before you file for extra peace of mind. Please be aware that the final price for using TurboTax Expert Assist is based on the complexity of your actual tax situation and any add-ons you select. The price includes federal and state products.
TurboTax Expert Full Service
For a heftier price, TurboTax Expert Full Service matches you with a tax expert who'll prepare, sign and file your return for you. All you have to do is answer a few questions and upload your documents. Your assigned tax expert will take it from there. Depending on availability, you can work in-person with a local tax expert, or if that's not an option, you can work virtually. You'll receive unlimited support year-round, just in case you have questions after filing taxes.
TurboTax Deluxe
Filers looking to maximize deductions and tax credits should consider TurboTax Deluxe. Ideal for homeowners who want to deduct mortgage interest and property taxes, TurboTax Deluxe can help you uncover more tax breaks. It also guides you through itemizing deductions, including charitable donations and qualifying medical expenses, if you choose not to take the standard deduction.
One of the biggest highlights of TurboTax Deluxe is that it searches over 350 tax deductions and credits to help you find every tax break you qualify for. It also provides step-by-step guidance for homeowners, helps you calculate eligible deductions and checks your tax return for errors before you file.
Another time-saving benefit? TurboTax Deluxe lets you import your W-2 information and transfer information from your previous tax return, when supported. Plus, you'll receive personalized guidance from AI-powered Intuit Assist, which can answer tax questions and help you navigate the filing process. While this service is not free, it may give you a bigger bang for your buck in the end with a larger refund.
TurboTax Premium
TurboTax Premium is designed for those reporting self-employed tax, including freelancers, gig workers, independent contractors and small business owners. It's also a great option for salaried employees who earn extra income through a side hustle. This edition helps you report self-employment income and uncover industry-specific deductions for eligible business expenses, including mileage, supplies and other work-related costs.
TurboTax Premium also supports investment income reporting, including stocks, bonds, cryptocurrency and capital gains or losses. Rental property owners can use it to report rental income, claim eligible deductions and calculate depreciation. Plus, the software searches over 450 tax deductions and credits to help you find potential savings, while AI-powered Intuit Assist provides personalized guidance throughout the filing process.
TurboTax Business Tax Filing
This option offers specialized tax preparation services for self-employed individuals and business owners, including sole proprietors, partnerships and corporations. This is different from the Premium option, which is for those who prepare their own taxes. Depending on the service selected, you can prepare your return with expert guidance or have a tax professional handle the filing for you.
TurboTax Desktop
If filing taxes online is not for you, TurboTax Desktop software products let you download and install software to your computer. One benefit here is that it's a one-time purchase, so you can use it to file again for next year. Ideal for experienced tax filers who don't need assistance, it includes five federal e-files, which is great for families who need multiple tax returns filed.
While the TurboTax Deluxe option for desktops is recommended for individuals and families, TurboTax Premier is ideal for investors and rental property owners. Meanwhile, TurboTax Home & Business is designed for self-employed individuals, freelancers, independent contractors and small business owners.
All information, deals and offers mentioned within this content are correct at the time of writing.
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