Review of Turbo Tax: Free Taxes or Not Free Taxes?

Tax time is quite stressful for people in general. I know many people who just go somewhere to just get their taxes out of their hair, no matter the cost. For other people, though, they like to search out their options, try to save money, search for accuracy. This article is about my experience. I do not know how this stacks up to other products, but I do know that these products can be confusing.

I started my own business in 2005 and was very concerned about how I would afford an accountant, if I did them myself, but was talked into using Turbo Tax one year by my sister. I think the fact that I broke out in hives right in front of her when I was talking about my upcoming taxes made her really try to persuade me to try it. I tried Turbo Tax online. The program took me step by step through the process, and I was surprised at all the up to date information that was available for review. When I did not understand a question, there was additional information right there in a little question mark that I could read to decide how to answer their question.

I have to admit, I did plan to fill out the paperwork and then mail my taxes off to save some money, but it was so easy to file online that I just decided to pay the extra money and have it done right there. That first year cost me $75 which almost caused me to have a heart attack, but I had a small business, a home, and retirement investments so I kept reminding myself of how much an accountant would have been. After all was said and done, I was happy with the deal that I received.

The next year I was going to just check it out, and again had planned to not file online, but when I saw that my information from the year before was already available and that I could find the latest year's W-2 tax information through the program, I was hooked. I am not lying, it took away so much stress, and I have trouble keeping myself organized so this was a blessing for me.

Did I mention that I do not have to start all over every year with entering in information? Now days I don't even have to go through each individual step if I don't want to, I get that choice. If I begin to feel uncomfortable as if I missed something, I go through each step in the section. I can change information as I go if I need to, AND it shows me right at the top of the page whether or not I am getting a return and how much it is calculated at currently. Another feature I really, really like is that there is an indicator on there that shows you whether or not your return is falling into a category of audit. This just means that there are some red flags that the IRS has, and Turbo Tax warns you about them. Pretty neat! I have experienced nothing like Turbo Tax freedom.

In order to make it less confusing for you to ascertain whether or not you might be interested in such a product, I have listed the basics of what Turbo Tax offers below.

Turbo Tax has five versions of the product for different needs.

This edition is for people who fill out 1040EZ . Turbo Tax allows you to file free for your federal return, but filing for your state return is extra. Also included is a guarantee for accuracy, and an audit support area in case you are audited.

Turbo Tax offers this version to those people who make contributions to charities, own a home, and/or have medical expenses. This version has an accuracy guarantee, and audit support in case of an audit. Federal filing is free, but the state return is extra.

The Premier edition is for people who have investments or rental properties. This product is guaranteed to be accurate, and included is audit support in case you are audited. Again, federal filing is free but state filing is extra.

This Turbo Tax product is for people who are sole-proprietors, contractors, or single owner Limited Liability Company. Federal filing is included with this product, state taxes are extra, accuracy is guaranteed, and audit support is provided in the event of an audit.

The last version is for businesses. Corporations, Limited Libiality Companies that are owned by more than one person, and partnerships. This product includes accuracy guarantee, audit support, provide free federal filing, and again charge you extra for state filing.

I would not go back to filing my own taxes without a product to help me, nor would I prefer to work with an accountant. I struggle to keep myself organized and this program helps me to do that and there is no one else there huffing when you might be missing something. I simply log out until I have what I need. In addition, at the website, there is the ability to search through their help information, the ability to chat or call, and the ability to contact a tax expert. Tax calculators are also available, along with (of course) other products that Intuit has. This is the only Intuit product that I have used.

I am not sure, of course, how this product stacks up to other products that are similar, but I know that I am pretty happy with my current solution.

Good luck in your decision, and Happy Taxes!