In this article, I will be providing you with a detailed, honest Intuit TurboTax review of their tax preparation software. You can get this product in the form of a CD from your local computer, electronic, or convenience store, or you can
start filing online for FREE right away. I recommend the online version as CD’s can be lost or damaged; and in this case, they are completely unnecessary. TurboTax saves all your tax forms on their servers and they are accessible whenever you need them.
Since the 2018 tax year is here with the e-file date of January 29, 2018, you need to know how you will be filing your taxes this year.
Price: $0 – $149.99
Overall Rank: 5 Stars
TurboTax is the #1 best-selling tax preparation software available for use to the public. Gone are the days when you must pay hundreds to thousands of dollars to get your taxes filed. Depending on your financial situation and the assets you hold, the most you will pay with TurboTax is $149.99; and that is the largest product that contains filing information for business owners. Many who don’t own their own business, home, or have many assets or expenses qualify to use Free Edition of TurboTax.
Turbotax makes it easy to file your taxes like a professional. All you do is answer simple questions about your life situation; the answers to those questions are used to complete the necessary tax forms. It’s so easy that a child could do it! TurboTax calculations are 100% accurate, and that is guaranteed! All tax laws are up-to-date, so you can rest assured that you are getting every tax deduction and credit that you are entitled to.
The Good & the Bad
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TurboTax Mobile App
The only downside associated with the Turbotax preparation software is that to get the maximum amount of deductions, depending on your assets, you will have to purchase the Deluxe, Premier, Self-Employed or Turbotax Live products. The Free Edition will not be sufficient.
In addition to the cost of the products, there is a mandatory filing fee required by the federal and state government, with the exception of the Free Edition which is free for all.
TurboTax at a Glance…
TurboTax can be used by anyone who is required to file a tax return over the age of 18. You don’t need to be a professional CPA or tax preparer to use this service.
In addition to tax preparation products, TurboTax includes a free service called Intuit Turbo; information on verified income, credit scores provided by Transunion and your debt-to-income ratio with personalized tips based on tax and credit data.
The current products offered by TurboTax are listed below in the chart.
Multi-factor authentication, touch ID, data encryption, login device history, auto email notifications
TurboTax Live – Live help from tax preparation professionals and CPA’s.
Tax Tips and Videos – Featured and recent tax tips and videos to help you with tax credits and deductions as well as self-employed information.
ItsDeductible Donation Tracker – Track all your charitable donations for tax return credits.
TaxCaster Refund Calculator – Estimates tax refund or amount of taxes you will owe.
Tax Bracket Calculator – Enter filing status and taxable income to determine the tax bracket you fall in.
E-File Status Refund Tracker – Check filing status and refund dates with the IRS.
Self-Employed Expense Estimator – Estimates tax saving based on yearly work-related expenses.
Turbotax provides 24/7 support for both tax and products; answers are provided by experts. There is an FAQ section, you can browse Q & A’s by topic, or search for your answer by typing in your question. In addition, there is a community where you can post your questions if you cannot find your answers in the AnswerXchange.
There is also a blog which can be personalized, if you do so you can receive an additional 10% off whichever Turbotax product you choose. It also includes news topics that you can filter by; most popular, most recent, author, and category.
The TurboTax blog covers topics such as tax deductions and credits, tax planning, income and investments, news and social, tax reform, and self-employed topics.
The pricing for Turbotax ranges from FREE to $149.99 depending on which product you go with; Free Edition, Deluxe $39.99, Premier $59.99, Self-Employed $89.99, or TurboTax Live $149.99.
The Free Edition is free because this version is for simple tax returns, for those that don’t have assets such as houses, businesses, or rental properties. The Deluxe product is the most popular because it includes the ability to maximize your deductions and credits which leads to a larger refund.
Premier Edition includes all features of the Free and Deluxe Editions, however, will maximize credits for those with investment and rental properties.
The Self-Employed Edition includes all features of the Free, Deluxe and Premier Editions but maximizes business income and expenses.
Of all TurboTax products this my favorite because all deductions and credits are maximized. Additionally, you receive immediate support for any questions that you may have while filing your taxes.
My Final Opinion of TurboTax
Intuit TurboTax Review
My final verdict on Turbotax is that it is legit product and by far the best tax preparation software available. I have used this product every year since 2008
so I can say with 100% certainty that TurboTax is a reputable product, very easy to use, and does maximize your tax refund.
The amount of my tax refund when using Turbotax was much higher than when I would go to H & R Block tax preparation service. Additionally, I get my refund back 9 days after I file. TurboTax says that you should receive your tax refund back within 19 days, personally I have never waited more than the 9 days.
For those of you who are not familiar with H & R Block, it is a tax preparation agency. They charge a large fee for their services and it can fluctuate depending on the amount of your personal refund. Of course, they do not advertise their fees this way; however, you find this out when you have been there and invested a couple of hours of your time.
The same services that you receive from tax professionals you can do for yourself. The same questions they are asking you to complete your tax forms are the same questions that Turbotax asks you to answer to complete the tax forms on their software. Therefore, you do not need to pay anyone to do this for you. Do it for yourself and save your money!
Well, this concludes my review, I hope that I have provided you with enough information to make an informed decision. If you have any further questions feel free to leave them below and I will get right back with you with an answer.