This saves you from having to keep a personal copy, even though you should still do this. Choosing the Deluxe option allows you to have 24/7 access to your tax return. Is It Worth Paying For?Įach package comes with its perks. When you ask questions, you’ll even be able to see your tax expert right on your screen. While Live is expensive, it’s a pretty cool, unique feature.
This Live feature also grants the ability to ask unlimited questions for the entire year after you file your taxes, and they’ll review your return before you file. This means you’ll have a tax expert available to help you while you complete your return. With all of their packages, you have the option of making them Live versions for an increased fee. Even the Deluxe package, which is the next step up from Free, is going to cost you over $100 to file both a federal and state return. TurboTax may dominate with their Free option, but their paid options are a bit pricey compared to the competition.
Yet another reason why student loans are the bane of my existence.įor those of you who can’t use the free version, you have a handful of other packages to choose from: If you have student loan interest, educator expenses, Health Savings Account contributions, or other similar deductions, you can’t use the Free edition. This hurts because Schedules 1-6 contain many of the items that used to be on the 1040 before the postcard 1040 in 2018. You can’t have any other Schedules, including Schedules A, C, D, E, and 1-6. Standard deduction (as opposed to itemizing).According to TurboTax, you qualify if your tax return only includes the following: The only downside to this free filing is the fact that only the simplest of returns qualify. Everything is free.īut this means you have to ignore all of the add-ons that TurboTax will try to sell to you, which we’ll discuss in more detail later. TurboTax is one of the few companies that offers a completely free option. It just means TurboTax will pay the penalties and interest for any problems on their part. Just remember that this doesn’t necessarily mean you won’t have any errors on your tax return. Reading about tax experts reviewing returns and guaranteeing that they’re done correctly takes away some of the stress that comes with filing taxes. What does make these guarantees useful is that they instill a good deal of confidence while scrolling through TurboTax’s website. They’re good to know about but shouldn’t be your deciding factor. These guarantees are great perks, but they’re pretty consistent with competitors like H&R Block. If any of TurboTax’s employees make an error on your return, TurboTax will pay the resulting penalties and interest. They’ll just help you understand why you’re being contacted or audited.ġ00% Accurate, Expert-Approved Guarantee – This one is similar to the 100% Accurate Calculations Guarantee. This does not mean they will represent you in an audit. If you used the Free Edition, TurboTax will pay you $14.99.Īudit Support Guarantee – By using TurboTax, you qualify for year-round help understanding any notices or letters from the IRS or state departments. Maximum Refund Guarantee or Your Money Back – TurboTax will refund any of their fees if you can get a larger refund with different software. TurboTax Guaranteesġ00% Accurate Calculations – TurboTax will pay any penalty or interest resulting from a calculation error by its software. Sasan Goodarzi is the current CEO and has stressed the importance of social awareness and fair representation. If innovation and being woke are important to you, TurboTax is a fair option. They boast having over 50 million customers.Īs we’ll see later, they make up for their lack of physical locations by dominating the technological world. Intuit went public in 1993 and now has over 9,000 employees with 19 locations in 9 different countries. Fun fact: Cook still works with Intuit as the Chairman of the Executive Committee, meaning he runs the committee that runs the entire board. Scott Cook and Tom Proulx founded Intuit in 1983. Do you use QuickBooks or Mint? Intuit runs those too, and you can use the same login information for all of them. TurboTax is under the umbrella of companies that Intuit Inc. TaxAct, TurboTax and H&R Block returns W2 import 1040, 1040A, and 1040EZ fromsĬheck eFile status, track IRS refund, 7-year access to returns
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