If you haven’t already filed your taxes, then today’s review may be prove to be extremely beneficial for you. For the last few years our family has used TurboTax to take care of our tax paperwork online.
Which Turbo Tax Edition Fits You?
- Free Edition: If you have a very simple tax return to file, TurboTax Free Edition is the way to go.
- Deluxe: Many people will find this a suitable option to take care of their tax deductions and credits for families and homeowners.
- Premier: This edition is designed for those who have numerous investments or if you own rental properties.
- Home & Business: Entrepreneurs with either sole proprietor, consultant, contractor or single-owner LLC business will find this edition more than capable of handling their business.
- Business: If you have a corporation, partnership or multi-member LLC, TurboTax can help you optimize your tax return.
We’ve been happy with TurboTax and how easy it is for us to file using their services. If you want to get started on your taxes, grab your copy of TurboTax today!
TurboTax Hunts for Deductions and Credits
No matter which edition you use to file your taxes online, TurboTax digs through and find what deductions and credits you may qualify for on your return. What’s so special about getting tax deductions and credits? Tax deductions reduce your taxable income while tax credits lower your taxes owed.
Things change year to year, so it may seem impossible to find all the credits and deductions. With the interview style of TurboTax, however, you’ll discover some credit and deductions you may have missed, including:
- State sales tax
- Childcare tax credit
- Casualty loss deduction
- Medical expenses
- Unemployment expenses
- Energy saving home improvements
- Volunteer contributions
The program asked questions to see if we met all the requirements and then adjusted the estimates on our refund as we went through the process.
TurboTax Can Cover Home & Business
We use TurboTax to take care of our home and businesses taxes. The program will quickly get your information and sort through what you need easily.
Here is a list of some of the paperwork we needed for our income:
- W-2s from your job(s)
- 1099-DIV: Dividends
- 1099-INT: Interest Income
- 1099-MISC: Miscellaneous Income
It was a snap to get this information in as we received the documents. Having a save option allowed us to get the return bit by bit, so it never felt like we were bogged down with our tax return.
Thoughts on Using TurboTax for Your Family
I’d like to get your feedback – how many of you have used TurboTax online? Which edition do you use?
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