TurboTax
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TurboTax is a leader in the tax prep industry. It is secured with bank-level encryption, multi-factor authentication, TLS technology, Dedicated Security tax, risk assessment/audits, and limited access to data. This ensures the utmost security for customers.
TurboTax's software comes with audit defense, and the company offers 100 percent accurate calculations guaranteed with the service. Customers can file taxes with TurboTax on tablets, mobile devices (apps for Android and iOS), online, or through CD-software.
TurboTax is part of the larger Intuit company. This is a software firm that emphasizes financial, accounting, small business, and tax-related programs. It is built around small business and individual software needs and is currently one of the S&P 500.
TurboTax began in the 1980s when two software designers in the Silicon Valley area of California began to look at ways of creating computer software that could eliminate the drudgery of "pen and paper" accounting practices. This led to the birth of "Quicken" bookkeeping software and a rapid expansion of other small business and tax-related products.
By the late 1990s, the company was a major force in software and was able to offer QuickBooks, TurboTax, and web-based components. Today, the company is worth more than $4 billion and is considered one of the finest software producers in the world.
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The Good
- Guarantees
- Easy to Fill Out
- Automatic Suggested Deductions
- Automatic Information Retrieval
- Mobile App
- Supported Forms
Guarantees
Essentially, the premise behind any version of TurboTax (whether for the individual, small business, etc.) is that it is going to walk the user through the process of completing their IRS and state tax documents.
The software also finds all the potential deductions and credits that a taxpayer may qualify for. This means that there is very little risk of overlooking deductions or failing to report everything with accuracy.
TurboTax provides a Maximum Refund Guarantee, an Audit Support Guarantee, a 100% Accuracy Guarantee, and a Satisfaction Guarantee.
TurboTax offers free filing for simple tax forms. However, if you taxes are more complicated, you may have to pay a fee for using TurboTax's filling process.
Customers who use the software don't have to pay until they receive their tax return. If a customer did not file with TurboTax, even if they started with the software, then there is no charge.
Taxpayers can elect to receive their tax refund via a direct deposit to their bank account.
TurboTax also promises people a maximum refund, as well as error checking all tax work before it is submitted to the IRS.
If the company does make a mistake with the IRS, it will pay for any state penalties and interest. TurboTax's guarantees are helpful and are made to best help consumers.
Easy to Fill Out
he "step-by-step" filing process is done like an interview and offers explanations for each item as it appears. The questions are made to be very clear. The built-in "EasyGuides" offer detailed explanations for all major issues.
There are also community forums that can direct someone to even further answers and information.
Additionally, some of the advanced versions of the software will also provide professional tax advice from a tax expert around issues such as investments or business related questions. It even walks the user through such traditionally complex issues as depreciation, donations, cost basis in stocks, and special 401k tools.
Automatic Suggested Deductions
TurboTax automatically suggests deductions and credits to users. In fact, members have the ability to enter charity donations on-the-go with the TurboTax ItsDeductible app.
Automatic Information Retrieval
Because the software is able to automatically retrieve information from previous year's filings (when done using previous versions of the software), it can streamline the entire taxation process dramatically. It also pulls all necessary data from any linked versions of QuickBooks, and this means that individuals and businesses can speed up the entire tax return process while also eliminating risks of error.
Mobile App
TurboTax has a mobile app which makes doing taxes convenient. You can login and start where you left off anytime and anywhere. It doesn't matter if you're using your phone, tablet, or desktop; all your information will be saved.
Supported Forms
Free:
- 1040A
- 1040EX
- Schedule B
- Schedule EIC and More
Deluxe:
- All Free Forms
- 1040
- Schedule A
- Schedule C
- Schedule CE
Premier/Home & Business:
- All Deluxe Forms
- Schedule D
- Schedule E
The Bad
- Limited Information
- Federal and State Prices
- Customer Support
Limited Information
While TurboTax does readily give information on how to input charity locations on the main homepage, the website does not upfront offer information on other types of deductibles. However, these pop-up as customers go through the questionaire.
Federal and State Prices
TurboTax is not "cheap" software, and it does have additional fees for filing state returns online.
Federal Price:
- Federal Free Edition - This product is ideal for simple tax returns and costs $0.
- Deluxe - The Deluxe costs $34.99 and is meant to maximize one's tax deductions
- Premier - For rental property and investments, this is the way to go. It costs $54.99.
- Home and Business - This option is best for small business owners, and it costs $89.99.
State Price
- Federal Free Edition - This product is ideal for simple tax returns and costs $0.
- Deluxe - The Deluxe costs $36.99 per state and is meant to maximize one's tax deductions.
- Premier - For rental property and investments, it costs $36.99 per state.
- Home and Business - This option is best for small business owners, and it costs $36.99 per state.
Customer Support
TurboTax offers a couple of ways to get in touch with them:
- Twitter: @TeamTurboTax
- Live Chat: Live support is offered in programs to paying customers.
However, they do not offer support over the phone and through email. These are both popular forms of customer support and can be a big problem if customers are not familiar with social media or live chat options.
The Bottom Line
In the end, many people choose TurboTax because of how well the software works.
The intuitive nature of the software, the use of the interview format, and the access to previous returns tend to keep people coming back year after year.
There are also many other features that are built into the different packages that make this software a truly ideal solution, such as access to W-2 forms or 1099 forms that have been filed online.
This sort of comprehensive access ensures one of the simplest methods for doing one of the most dreaded chores.
While taxes can seem confusing at times. TurboTax provides access to answers given by tax professionals as well as a community forum. On these forums users can ask questions and have them answered by a TurboTax representative or tax professional. The library of resources is really effective and useful across the board.
TurboTax is a well-recommended tax preparing company.
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User Reviews
Star Rating
437 Reviews
Review Breakdown
Sentiment Criteria
Ver easy program , helpful with on line advise. Self expainatory
Mostly a good and user-friendly process. Sometimes it gets confusing, especially during the review. It wants you to correct or add info and I can barely ever find out what they need.
never had a problem over the years, used them for over 10 years
Incredibly easy and accurate, safe to do online, and trustworthy. They guarantee their work as well.
Never had an issue with them, always seem to be up to date on new laws
It was very easy to follow and they filed it electronically and It only took less than 20 days to receive my refund.
Bugs, especially with amended returns. Problems importing financial data from even large companies.
Have used Turbo Tax for over 20 years and have never had a problem with them!
They are up to date on all tax laws and simplify any forms I may need, and I feel I get the best refunds with their service.
Limited options and the website is not setup properly.
Excellent easy to use program, good service response if you need it
No # to contact. Once I (FINALLY) got the #, she answered me fine,
I 'm very satisfied with turbo tax services I will recommended.
It asked the questions to make sure we had all the pertinent info entered.
The platform is easy to use, easy to follow instructions. I recieved a tax document after I submitted my forms, customer service was fast, easy to work with, and the end result did not affect my return refund.
I'e been using turbo tax for years and with god results.
Very easy to use and great, fast phone support
Super easy and a really good price for the sservice they provide
Easy to use. Fairly accurate and secure.
Found all possible savings. My tax accountant did not offer as many ways to save as turbo tax did. And it cost less.
Great site, great directions and online help
Love them I get the max refund at the best price super easy to use
It makes taxes easy by putting question mark icons that you can click on to understand everything you need to know about taxes
Easy to use. But priced a bit high. Convenient and accurate
It's easy to complete your taxes, they take you step by step
there are occasional questions that do not appear to have easy answers
It's easy to complete your taxes, they take you step by step
They cover every legal deduction that one can claim
there are occasional questions that do not appear to have easy answers
They cover every legal deduction that one can claim
This was the first time in many years that the software bugged out on me in the most crucial time; filing electronically. Because my place of work did not have a street address on my W2, TurboTax repeatedly noted it as an Error on my return and would not let me file electronically. Ridiculous and I let them know, so I am hoping they corrected their software to allow for "such a non-tax error" so that in the 21st century, a person who trusted they could file electronically in the computer age can do so.
Ease of use, comprehensive, good customer service
It's fine for simple tax returns. It mishandled a dividend account and got my State tax totally wrong. It had me sned estimated taxes when I was actually owed a refund
This was the first time in many years that the software bugged out on me in the most crucial time; filing electronically. Because my place of work did not have a street address on my W2, TurboTax repeatedly noted it as an Error on my return and would not let me file electronically. Ridiculous and I let them know, so I am hoping they corrected their software to allow for "such a non-tax error" so that in the 21st century, a person who trusted they could file electronically in the computer age can do so.
good product and value of money and good customer service.
It works I guess. Nothing great, nothing spectacular. The option to download is gone, which is annoying. And it's getting way too expensive.
Ease of use and very complete. Taking up space to get to 40 characters just to make you happy.
It walks you through it and gives you ideas on tax savings.
They screwed us and we had to file amended returns
Because they always to to get you to upgrade, which costs you a lot more money.
The integrations that TurboTax had with other providers, including brokerage accounts like Acorns and Robinhood, made tax prep simple.
Software is easy to use and saves info from previous years so I don't have to start over each tax season.
Quick and easy to use. Great tips and advice while filling.
They walk you thru each step. I'e been using them for the past 8 years.
Quick easy prep and they stand behind it
They made doing my taxes super easy and quick. They answered every question I had and covered everything I could claim to get me the highest refund available to me.
With Turbo Tax you just fill in your own answers and they do have 800 to ask questions.
So easy to use, if you follow the questions you'll be done faster than driving to a tax person.
Does a good job walking you through preparing your taxes but some things still are not fully explained.
Very easy and simple to use. Less stress to file taxes.