Update Turbotax Online Review – By Kathy Jakal Kathy Jakal Contributor My Experience I write for money. I have been reviewing tax software and services as a freelancer since 1993. Before that I spent several years writing about productivity and entertainment applications for 8-bit personal computers (my first was the Commodore VIC-20) as an editorial member of Compute! Read full bio
TurboTax guides you through an in-depth and easy-to-understand interview to help you prepare your tax return. Although it is expensive, its usability, premium design and comprehensive coverage of tax topics add to its value.
Update Turbotax Online Review
$89 for Intuit TurboTax Premier Plan View (Opens in a new window) $64 for Intuit TurboTax Deluxe Federal Plan $69 Save $5.00 View (Opens in a new window) $119 for Intuit TurboTax Worker Plan View (Opens in new window) Intuit TurboTax Free Edition View it (Opens in a new window)
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Intuit’s TurboTax family of personal tax preparation software and services has a history of excellence that dates back more than 30 years, and this year’s product line continues that tradition. TurboTax packs a lot of substance and style into its products. It offers comprehensive coverage of tax topics in an easy-to-follow interview format, and its support is top-notch. For many years, it has topped our reviews of the best personal tax preparation services.
The new and improved features in TurboTax’s broad product line are focused on two areas: tools specifically designed for the self-employed and expert live chat or video call support. These changes have made an excellent tax preparation site even better, and TurboTax is an Editors’ Choice winner again, this year along with H&R Block.
TurboTax prices for federal returns alone are the same as last year, although costs for state returns have increased. There is a free option, but if you don’t qualify, filing a federal return starts at $59. Expect discounts on tax preparation services at the start of tax season, with those discounts disappearing as you get closer to the filing deadline.
Intuit Turbotax 2022 Overview And Supported File Types
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TurboTax Free Edition is good for what it calls a simple return (only Form 1040, no additional forms or schedules). This includes taxpayers who claim the standard deduction and no more of these tax situations: W-2 income, limited interest and dividend income, the Earned Income Tax Credit, the Child Tax Credit, and the student loan interest deduction.
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The cheapest level of paid service is TurboTax Deluxe, which has a list price of $59 for federal returns. Deluxe adds Schedule A to the free version, which allows you to itemize or take the standard deduction. You need TurboTax Premier ($89 for federal taxes) if you want to report income from investments and rental properties. TurboTax Self-Employed ($119 federal) lets you record income and expenses on Schedule C and includes guidance and special features for the self-employed.
TurboTax remains the most expensive tax service, by far in some cases. The FreeTaxUSA Tax and Cash applications (formerly Credit Karma Tax) are still completely free for federal filing, although FreeTaxUSA charges $14.99 for state returns. Cash applications are tax-free on federal and state returns. However, these services lack the usability and support that makes TurboTax so great. TaxSlayer Classic ($19.95 for federal) supports all major tax forms and filings, but its self-employed version ($49.95 for federal) offers additional tools and support for the self-employed.
Turbotax Review: The Broadest Options From An Industry Staple
TurboTax has announced a special offer for taxpayers with simple returns (as described above) that runs through March 31, 2023. These individuals will be able to use TurboTax Live Assisted Basic and use their expert assistance for free.
TurboTax Live is a slightly different animal, parent company Intuit introduced it three years ago. Connect with a tax expert via chat or video call. The assistance agent can see your computer screen with details of your tax return if you allow it, but he cannot see it. You can interact with these professionals year-round so they can help you with tax planning during the off-season.
The Live edition of TurboTax comes in eight tiers, though they are divided into two major groups: TurboTax Live Assisted and Live Full Service. Which one you choose depends on what types of forms you need to submit and how much help you may need.
Self-Employed with TurboTax Live costs $169 (plus $49 for state filing) as of this writing, but that too is likely to go up later in tax season. Essentially, you are connected to a tax expert that you can consult as needed. You should also have an expert review before writing. H&R Block offers a similar service, but pricing was not available at this writing.
The Best Tax Software Of 2023: Federal And State
TurboTax Live Full Service Self-Employed ($359 federal, $49 state as of this writing) connects you with tax experts who prepare your return for you, based on the tax documents you provide by uploading to the site. Participate in a video meeting with them while they prepare your taxes. Tax advice is available throughout the year. Again, H&R Block has a similar option.
Although TurboTax Live is a stand-alone offering, you can add it even if you’ve already started preparing your taxes with any Do-It-Yourself product in the TurboTax line.
TurboTax’s security specialists work with the IRS and state revenue departments to prevent fraud. This dedicated staff constantly monitors the site and performs internal checks and external tests. Stored data is always encrypted, as is your return when transmitted to the IRS and state agencies.
The website supports multi-factor authentication and fingerprint unlocking for the mobile app. You can see your login history and the devices used to access your account, and you’re always informed of any unusual activity on your account, such as changing your password, updating your payment method, or signing in from a new device.
Intuit Turbotax 2023 (tax Year 2022) Review
Many personal tax preparation services still use a format similar to the one introduced by TurboTax for its writing software in 1993, and for good reason. It works beautifully, saves time, eliminates frustration and dramatically reduces errors. Instead of bouncing between Form 1040, IRS instructions, other forms, and third-party reference books, go through a series of tax preparation pages one at a time in a logical order and answer the questions they ask.
Although TurboTax originated this trend of using a wizard-based approach to tax preparation, the practice has evolved significantly over the years. The service alternates between questions and answers and displays a list of available tax topics. Provide an answer, click the button to go to the next page, and keep answering and clicking until the service says you’re done. Later, he combs your return, lets you fix any problems, asks you to pay, and helps you type or print the finished product.
You never have to look at an IRS form or schedule, because TurboTax and other online tax preparation services fill them out for you in the background. What you see is expert help in the form of simply worded explanations of tax concepts throughout the process.
Each tax preparation service has its own personality, consisting of its tone, user interface, and ability to guide you through the process without confusion.
Let A Tax Expert Do Your Taxes For You With Turbotax Live Full Service!
TurboTax’s personality is on display from the start, even before you start filling in dollar amounts. A conversational and friendly tone is required. You might like this tip, especially if you’re nervous about your taxes or this is your first time using a tax preparation site. Other users may just want to tinker with it. However, the extra sweetness isn’t overpowering, nor will it slow you down.
After you create an account or sign in with an existing one, the website helps you choose the right level of service for your 2022 taxes. It depicts many life situations, such as owning a house, having children, selling stocks, paying off student loans, etc. Based on your answers, the website recommends the most appropriate edition of TurboTax.
Next, TurboTax asks how you did your taxes last year and helps you import the data from TurboTax or another personal tax preparation website. After that, it asks you a second time to indicate which life situations apply to you. Finally, you will receive a list of topics that you have identified as relevant
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