I’ve been using Turbo Tax to file for the last 5 years. Last year, I considered using a CPA because of a business I sold, but I gave the Home and Business version a try and it worked great!
Our refunds always arrive within a week or two, which is very fast. Filing with the e-file option is really simple and your refund can show up in as little as 8 days.
Here’s a look at how Turbo Tax works and the options you can choose to file your taxes online
Turbo Tax Free Options and Paid Options
Free Edition – The most basic returns can be filed with Turbo Tax free edition. This includes the basic tax forms (1040EZ, 1040A, and 1040), ability to print, or e-file for free. Filing your state return will cost $27.95.
Basic – This version allows you to automatically import your W2 or 1099 if you’ve worked for one of the 400,000 participating employers. You also get free technical support by phone. Federal filing cost is $19.95 and $36.95 for state.
Deluxe – This version allows you to customize your return and add more deductions like mortgage interest, childcare expenses, or charitable donations. It checks your return for over 350 possible deductions. Federal filing cost is $29.95 and $36.95 for state.
Premier – This includes everything in the Deluxe edition but is meant for people who have rental properties or if you’ve sold stocks or bonds. Federal filing cost is $49.95 and $36.95 for state.
Home and Business – If you have an LLC or receive income from a side job or self-employment; this step by step version is for you. Federal filing cost is $74.95 and $36.95 for state.
Which version is right for me?
For people with simple returns, the free option is the way to go. The Deluxe version will cover most of everything you can expect to see if you have a family or want to take advantage of deductions. The nice part is that Turbo Tax will ask questions along the way to help you determine which one is right for you.
How to Use Turbo Tax
Turbo Tax is very user friendly. It almost feels like a GPS navigator, giving you visual tips and instructions along the way.
Once you’ve gathered all your tax documents (W2, 1099, etc) Turbo Tax will guide you through each step.
Turbo Tax Features and Benefits
- Real Time Refund and Error Checking. Turbo Tax shows the refund amount along the way at the top. This helps you to see exactly what to expect as you’re filing your taxes. It also runs a series of checks and double-checks, so you can be confident that it’ll be 100% accurate.
- Guarantees you’ll get the biggest refund you’re entitled to. Turbo Tax will refund your money if you get a larger refund or smaller tax due from another tax preparation method. There’s nothing to lose with this guarantee.
- Saves your information from year to year. This is really convenient and can save you hours each year at tax time.
- No need to fill out State tax info separately. Turbo Tax prefills the state return with your Federal info, saving you time and eliminating the chance of errors.
- Free Audit Support – While it’s unlikely that you’ll be audited, Turbo Tax provides free support if you are.
Try Turbo Tax For Free
The best part about Turbo Tax is that you don’t have to pay until you actually finish and send off your return. If you want to walk through the entire process just to try it, you can do that at no cost.
It’s extremely convenient, safe, and one of the best ways to make sure you’re getting the biggest refund possible this year.
Are you using Turbo Tax this year? Did you find this article helpful? If so, click the +1.