{"id":22028,"date":"2021-09-10T10:19:10","date_gmt":"2021-09-10T17:19:10","guid":{"rendered":"https:\/\/financer.com\/?post_type=company_single&p=22028"},"modified":"2024-08-22T11:37:43","modified_gmt":"2024-08-22T18:37:43","slug":"turbotax","status":"publish","type":"company_single","link":"https:\/\/financer.com\/company\/turbotax\/","title":{"rendered":"TurboTax"},"content":{"rendered":"
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TurboTax is one of the most popular tax software programs available online and our top pick for the best tax software of 2023.<\/a><\/p>\n\n\n\n Founded in the 1980s and owned by Intuit, which also owns QuickBooks and Mint, TurboTax<\/a> has grown to be the market leader in the tax industry. <\/p>\n\n\n\n TurboTax has a clean and easy-to-use interface for online taxes. The tax program works as an interview, walking you through a series of questions about your income to determine the most appropriate choices.<\/p>\n\n\n\n Most users end up using the TurboTax Deluxe<\/strong>, which is around $60. You can also choose to upgrade to TurboTax Live<\/strong> to get one-on-one support from a tax expert if you have questions or need guidance. <\/p>\n\n\n\n This year, TurboTax Live Full Service <\/strong>was introduced which allows you to upload your tax documents and have a tax pro prepare your tax returns<\/strong>.<\/p>\n\n\n TurboTax offers a variety of products: Free, Deluxe, Premier, and Self-Employed. This is available in three different formats:<\/p>\n\n\n\n <\/p>\n\n\n\n Note that with the CD\/download option, the Self-Employed version is called \u201cHome & Business\u201d. <\/p>\n\n\n\n One of TurboTax\u2019s standout features is the option to upgrade to a higher level of tax support. With the basic version, you are mainly on a DIY path, with a vast library of support resources for tax questions. <\/p>\n\n\n\n If you need more help, you can upgrade to a version where you get unlimited help from an expert online or a newer offering, including complete tax preparation by an expert.<\/p>\n\n\n\n For most people, the best option is using TurboTax online, where you do your taxes on your computer, or using the TurboTax\u00a0mobile app. <\/p>\n\n\n\n Those with more complex investments may need the Premier version, while self-employed business owners will need the top Self-Employed edition. <\/p>\n\n\n\n Each version has a corresponding upgrade for online tax support and full-service tax preparation.<\/p>\n\n\n\n Read more about the different TurboTax options below.<\/p>\n\n\n Free for state and federal returns<\/strong><\/p>\n\n\n\n The TurboTax Free Edition<\/strong> allows you to file your state and federal taxes for free and this is the perfect option if you have a simple tax return.<\/p>\n\n\n\n This would involve just your W-2 income and limited interest or dividend income reported on a 1099-DIV or 1099-INT. You can also claim standard deductions, Earned Income Tax Credit, and a Child Tax Credit.<\/p>\n\n\n\n >> For simple tax returns only. See if you qualify<\/a>.<\/strong><\/p>\n\n\n\n $59 for federal returns and $49 for state returns<\/strong><\/p>\n\n\n\n TurboTax Deluxe determines which tax deductions you qualify for by searching more than 350 tax deductions and credits. <\/p>\n\n\n\n The Deluxe version is designed to ensure you get the maximum tax refund<\/strong> and also provides you with a credit score and access to Turbo, an online tool to help you understand your taxes.<\/p>\n\n\n\n $89 for federal returns and $49 state returns<\/strong><\/p>\n\n\n\n When it comes to online taxes, TurboTax Premier has been completely revamped to deliver the best experience for investors<\/strong>. It helps to incorporate bonds, stocks, cryptocurrency<\/a>, ESPPs, rental property income, robo-investing<\/a>, and more.<\/p>\n\n\n\n This product helps you to easily report your investments transactions accurately. TurboTax Premier is the only online tax program that can import over 1,500 transactions from more than 300 financial institutions and more than 2,000 crypto transactions from major crypto platforms.<\/p>\n\n\n\n $119 for federal returns and $49 for state returns<\/strong><\/p>\n\n\n\n If you’re a freelancer, TurboTax Self-Employed<\/strong> helps you uncover industry-specific deductions you may not have known about. It can help reduce your taxes and put more money back into your pocket.<\/p>\n\n\n\n It focuses on online sales, personal and professional services, ride-sharing, and other industries where people are self-employed. <\/p>\n\n\n\n TurboTax Self-Employed gives guidance on expense reporting, such as mileage, cell phone charges, and home office equipment. You can also import your 1099 form by taking a photo of it on your smartphone.<\/p>\n\n\n\n $79 for federal returns and $44 for state returns<\/strong><\/p>\n\n\n\n TurboTax Live Basic allows you to connect live with a one-way video link to a TurboTax Live tax expert with more than a decade of experience. <\/p>\n\n\n\n These experts can answer your tax questions and file your tax return. TurboTax Live experts can assist in English and Spanish, all year round.<\/p>\n\n\n\n $119 for federal returns and $44 for state returns<\/strong><\/p>\n\n\n\n TurboTax Live Delux is similar to TurboTax Live Basic but also allows you to talk with a tax expert about more than 350 different tax deductions<\/strong>, including charitable contribution deductions and mortgage tax.<\/p>\n\n\n\n $169 for federal returns $44 for state returns<\/strong><\/p>\n\n\n\n TurboTax Live Premier allows you to connect with a tax expert who provides personalized guidance and advice for nearly every tax investment situation.<\/p>\n\n\n\n This includes bonds, stocks, robo-investing, ESPPs, cryptocurrency, rental property income, and more. You can automatically import your investment income and account for gains and losses from cryptocurrency transactions.<\/p>\n\n\n\n $199 for federal returns and $44 for state returns<\/strong><\/p>\n\n\n\n With TurboTax Live Self-Employed, contractors, freelancers, and small business owners can get live tax advice. <\/p>\n\n\n\n Uncover all the tax deductions you’re entitled to, get a personal and small business income review, and a personalized audit assessment.<\/p>\n\n\n Prices vary<\/strong><\/p>\n\n\n\n TurboTax introduced TurboTax Live Full Service for the 2023 tax season, as an extension of the TurboTax Live feature. <\/p>\n\n\n\n Prices vary from $99 for the Basic Full Service, to $389 for the Self-Employed Full Service options.<\/p>\n\n\n\n Upload your documents and have a TurboTax 2021 expert prepare and file your taxes for you. Prices vary depending on your tax return.<\/p>\n\n\n\n So, how much does TurboTax cost? Here is a summary of the versions and prices:<\/p>\n\n\n\n<\/a>Chosen 75<\/strong> times<\/span>
<\/div>5.0<\/span><\/a>Read 4<\/strong> reviews<\/a><\/div><\/div><\/div><\/div><\/div>\n\n\n
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Free Edition<\/h4>\n\n\n\n
Deluxe<\/h4>\n\n\n\n
Premier<\/h4>\n\n\n\n
Self-Employed<\/h4>\n\n\n\n
TurboTax Live Basic<\/h4>\n\n\n\n
TurboTax Live Deluxe<\/h4>\n\n\n\n
TurboTax Live Premier<\/h4>\n\n\n\n
TurboTax Live Self-Employed<\/h4>\n\n\n\n
TurboTax Live Full Service<\/h4>\n\n\n\n