Tax preparation is an art in itself; it requires a specific set of skills to get the details right. This is the reason that 60% of the taxpayers use paid tax preparers to help them in the endeavor of completing and submitting their tax returns. The hardest part of preparing taxes is to find the right tax preparer. However, Intuit has ensured that we wouldn’t have to go through the distressing process of finding the right tax preparer since it has devised the TurboTax, an American tax preparation software package, to help people in their efforts to file tax returns appropriately.
TurboTax has become quite popular in recent times. In addition to helping people go through the process of preparing taxes smoothly, TurboTax goes easy on your wallet. Here are some reasons why TurboTax might be the exact tax preparer you were looking for.
- Accuracy – Unless you get accurate calculations, you cannot file your returns appropriately. TurboTax ensures that you get 100% accurate calculations. TurboTax ensures that you get accurate calculations by running thousands of error checks and double-checks your tax returns before you file them. In case you have to pay a state penalty due to a TurboTax calculation error, TurboTax would bear the penalty and interest.
- Reliable service – TurboTax has been in the industry for the past 30 years and has been ranked the #1 best-selling tax software as it has lent Americans a helping hand in keeping more of their hard-earned money. Also, if there has been an error on the part of the software, the customers are reimbursed by TurboTax. Thus, it has a strong customer base.
- Easy-to-use – Turbotax is quite easy to use and understand. You can jumpstart on your taxes by simply clicking a photo of the W-2 form with your phone, and your data will be verified and will be securely uploaded into the right tax forms on your behalf. TurboTax thus saves your time.
- TurboTax Live – The TurboTax Live is the latest addition to the list of amazing features that TurboTax already possesses. TurboTax Live ensures that an experienced EA or CPA reviews your tax returns. Also, this process will be backed by the 100% Accuracy Guarantee that TurboTax provides to its users.
- One-on-one answers – Unlike other tax preparation software that simply helps you with the calculations, TurboTax ensures that the users receive assistance till they complete the entire procedure. If you are in doubt or wish to seek help, you can always connect with a TurboTax specialist through a one-way video and avail of all the answers you seek right on the screen.
If you wish to avail of the features and services provided by TurboTax, you can choose from among the different versions of TurboTax, each equipped with features to help you get through the process without hassles. The different version of TurboTax are as follows:
- TurboTax Free Edition – As the name suggests, this is a free version. This TurboTax version guarantees easy preparation of taxes, printing, and e-filing process with 100% accurate calculations. This version of TurboTax is conducive for filing simple tax returns. You can start your tax preparation process by clicking a picture of your W-2 form and uploading it.
- TurboTax Deluxe – This TurboTax version allows you to start for free and you have to pay when you file your returns. In addition to easy preparation, printing, and e-filing, TurboTax Deluxe searches around 350+ tax deductions and credits and helps you maximize mortgage and property tax deductions. The TurboTax Deluxe is equipped with the “ItsDeductible” feature that can turn charitable donations into big donations. TurboTax Deluxe would cost you around $39.99 once you decide to file the returns.
- TurboTax Premier – The TurboTax Premier version provides everything that the TurboTax Deluxe provides you and requires you to pay around $59.99 when you file the returns. In addition to these, the TurboTax Premier covers stocks, ESPPs, bonds, and other investment income. Also, it handles rental property income and tax deductions. The TurboTax Premier can automatically import the investment income that includes the basic costs as well. This version of the TurboTax can deduct appraisal fees and points from your refinance as well.
- TurboTax Self-Employed – The TurboTax Self-Employed version provides you with every feature that the Premier possesses, and in addition to those, it provides guidance for independent contractors, business owners, and freelancers. It helps you to track mileage and expense effortlessly and ensures that you receive one-on-one answers regarding self-employment questions if you demand the same. The TurboTax Self-Employed helps you uncover the industry-specific deductions that are related to your line of work, and you would have to pay around $89.99 when you file your returns.
- TurboTax Live – As the name suggests, you can have live assistance in preparing your taxes. This is the newest version of TurboTax and allows you to do your taxes and have a one-on-one review with a TurboTax EA or CPA before you decide to file at around $149.99, which you would have to pay while filing the returns. Also, you are entitled to live tax advice from experienced tax experts who can understand your unique situations and help you file your taxes appropriately.