TurboTaxhas been a top-level tax software for decades, improving itself with the latest
impressive versions. Whether you are filing taxes for the first time or are an
experienced tax filer, TurboTax helps you manage your tax information and
assist you through the process of finishing your federal and state tax returns.
However, it's not the cheapest software, and it offers an intuitive user
interface with good support for any tax condition. Despite being more expensive
than its competitors, it remains a top-notch choice due to the ease of use of
the user interface.
Why Use TurboTax?
Thereare multiple reasons to use TurboTax online Taxing software. It has made the
tax filing process easier for a large population of people. Also, there are
multiple ways to file your taxes, such as hiring a CPA, using third-party
software, or using the IRS' free file online solution- TurboTax Login. However, TurboTax will notbe the best solution for every user. For instance, if you are a self-employed
worker and work with multiple clients, the business package of TurboTax will cost
you more than others. If you can't hire a CPA, you should use TaxSlayer for
self-employed individuals.
What Does TurboTax Offer?
TurboTaxhas four different products, namely Basic, Deluxe, Premier, and Self-Employed,
according to the complexity of your return. Each tier has two additional levels
of expert help- TurboTax Live and TurboTax Live Full Service. The Live
assistance lets you regularly consult an expert to review your return. It's an
optional category. On the other hand, the Full Service has an expert who will
prepare and file tax returns for you.
Here are the different productsoffered by TurboTax:
Basic
Asthe name suggests, it's a simple tax return that contains a single W-2 from one
employer and doesn't need multiple itemized deductions. Also, it doesn't
include investment income or rental property. With this product, you can claim
the earned income tax credit, student loan interest, and child tax credit. If
you get unemployment benefits, you need to pay for the Deluxe edition.
Deluxe
Thisversion is best for maximizing deductions and credits. The tier costs just $39
for your federal return and $39 for each state return. If you want to add TurboTax
Live, it will cost you $119 for federal return and $49 for each state return.
Also, if you want full service for this tier, it will cost $249 plus $49 for
each state return.
Premier
Thisproduct allows you to report investment income and rental property, maximizing
your refund. It's also a good option for users with powerful cryptocurrency activity,
allowing you to upload 4,000 crypto transactions at once. It costs $69 for your
federal return plus $39 for each state return. If you want to add TurboTax
Live, it will cost $169 for your federal return plus $49 for state returns.
Also, for Full Service, it costs $359 plus $49 for each state return.
Self-Employed
Itis best for gig workers, freelancers, and business owners. Also, contractors
and business owners can maximize their deductions and report personal and
business income expenses. If you have a salaried job or have done freelance
work in 2021, you will have to pay for this TurboTax product to report this
income and maximize deductions. The initial price is $89 for your federal
return plus $39 for state returns.
Ifyou want to add TurboTax Live, it will cost you $199 for federal taxes and $49
per state. And for Full service, you'll have to pay $389 for federal taxes and
$49 per state.
How Is TurboTax Software Useful?
Thedesktop app, as well as the mobile app, is convenient for inputting information
and uploading tax documents. Plus, you can upload documents from your prior
years or other tax services or take photos of your physical documents. If you
start or stop the process on one device, you can continue the process where you
left off on another. TurboTax Signin also offers useful tools, such as a charitable donation calculatorand a refund estimator that is used to update the tax figure consistently.
However,the mobile app experience is really good. It is convenient for personal as well
as practical reasons. TurboTax makes it easy to manage your information on
mobile apps. Although it's difficult to read additional information given on
the smaller screen, you can follow along with TurboTax's interview-based
approach.
You can also receive your refund ina few different ways, such as:
● Directdeposit
● Paper check
● US savingsbond
● Turbo VisaDebit Card
● Free partialrefund advance
● Applied tonext year's tax return
Why Choose TurboTax? Users who want to manage their taxes quickly andwith less effort should choose this software. In the world of digital
technology, TurboTax offers you the perfect solution for the management of your
taxes. It is also a leading contender among various similar software options.
However, it's not the cheapest option available; the services and products it
offers are good and worth the cost.
