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
They tell you it's free Until you get to the end and they charge you
Ease of use, thoroughness, speed. Live chat available and ability to import the previous years info into new tax year.
Ease, help, longevity love their customer service
They have an easy to use format, built in forms, and transfer data from previous filing to make it easier as well. Used H. & R. Block once and did not like having to drag all the paper work to them.
Live Tax person available for assistance. In the past 20 years Turbo Tax has not let me down and stood by their software when IRS questioned an entry.
Been using t-t for years and have breezed right through my preparation with confidence.
It is fast, easy to do online and free for me
used for years with good results and ease
They're fine. No problems--no audit. Easy to use, but HR Block has better explanations and directions.
Online chat service if needed, easy website to navigate.
Easy to understand easy to use made it so people can understand it when they have health issue
Pretty easy until you have to do city taxes. There seems to be a few glitches with the city tax form
I found it very, very good. Though we had an unusual twist that the system didn't accommodate and I couldn't locate online help. My CPA relative determined how to enter data in a way that resulted in the correct result. Again, it was great for everything else such as investments, LLC and gifting.
Good but there is always some special glitch I have to work through manually
easy to use and understand can important documents directly from employer
Ease of use & belief that the software has calculated everything correctly
Simple to use, literate and complete instructions on simple tax problems, retirement taxes, taxes on 401K interest and dividends and they have the option of having an expert review your tax filing, which is cheaper than having a tax preparer do your taxes.
Filing online is convenient. It's easy to fill out and it's affordable
The system is solid, but when I went over the numbers later it missed a few dollars in savings
They cover more different tax savings and explain why or why you can't take advantage of them.
Very Simple and easy to understand and quick
Using it year to year, you get to see side by side the numbers so you don't forget anything or have skewed numbers that might draw an audit.
No customer support and very old fashioned tool
I thoughtI might be able to deduct medical expenses but they were less than the standard deduction so my filing should have qualified for free. It was not.
There software products are good and easy to use.
turbo tax has made doing my taxes so much easier. I used to get so intimidated by taxes and now its so simple.
Filing my taxes through TurboTax was extremely convenient and quick! Definitely recommend!
I’ve used TurboTax for the past few years. I don’t know if we’re getting the best deal on our taxes or not, but it sure makes things easy. I tried using a different online service last year, but it didn’t seem as good as TurboTax.
I love TurboTax. We have used it for the past two years. It makes tax season a breeze - I can get our taxes done in a few hours. It's so cheap and easy.
Turbo Tax promises a free tax return every time, but once you start working though it, all these fees start popping out of nowhere. I'd recommend looking elsewhere. They get the job done, but I feel their advertising is dishonest.
we have used turbo tax the past couple of years and so have my children, very user friendly i would recommend this tax program to any one filing 1040 even free state tax also
Alexander was incredibly helpful yesterday when I needed assistance finishing my taxes. He stayed on the phone to make sure my issue was completely resolved. The software itself has been very easy to use. The web help has always gotten me through in the past but phone assistance was needed in this case. I really appreciate everything Alexander was able to do for me and will continue to use TurboTax for all my tax needs. Thank you again!
TurboTax was incredibly easy to use. I loved the wording that was used to help me navigate through everything. It was very helpful and positive, and it made me feel less anxious about doing my taxes.
Was very poorly treated by TurboTax. The system directed me to file a certain tax return, charged 38$. Turned out that they had me file the wrong tax return so now I not only have to file another one but I also have to file an amendment to undo the one they filed...and they refuse to give me a refund too. Shockingly bad way to treat a customer
So done with Turbo Tax! Forced to upgrade after an hour of data entry. Thieves!! I have used TurboTax for many years now. Their online tax filing is supposed to be free but throughout the entire process they repeatedly try to upgrade you at some cost forcing you to decline over and over again the same services. I have put up with that for the free filing. This year they forced the issue. After struggling to get our info entered, There was over a $200 charge. I requested them to call me, suppose to take 10 mins to call back. After 24 hours I requested a call back again and got one. The rep was polite but could not explain the products and why the fees where so high or why they would not take fees out of my refund. I asked for a supervisoer and was told they are so busy they will call back in 24 hours. So we looked around and used FreeTaxUSA. It was easy to enter the info, we got the same refund and it only cost $40. A full 98% of TurboTax customers are unhappy with the services they provide. How bad are you as a company that only 2% actually like what you do? https://www.consumeraffairs.com/computers/intuit_turbotax.html. Their negatives even within the BBB site is 97%. The only site that gives them a favorable rating above 3% is their own site. Hmmm can you say manipulated and fake?
I used TurboTax to file my tax in 2015. I did my best to fill out all the information the website asked for. I even bought their audit service because they said it would help me to deal the IRS. I didn't have enough money to pay the tax in full, so I made a payment plan with the IRS. However, after 2 payments to the IRS, I got an audit letter from them showing that I still owe them the full amount of tax money. I was so frustrated since I already paid them half of the tax money so far. I contacted TaxAudit, the audit service that I bought with TurboTax, to help me out. I gave them all the required document. Then I got a call from an agent from TaxAudit. He told me he couldn't help me and ask me to contact with the IRS directly. Then I got another letter from the IRS that I still owed an extra amount of money besides the money I owed them. After getting so many audit letters from the IRS and useless help from audit service provided by TurboTax, I wouldn't trust TurboTax to file my tax again.
I have been very impressed for the 2 years that I have used TurboTax. I love how easy it is to do my own taxes as well as ability to read tips from TurboTax. The estimator calculator is a great tool to get an idea on how much I will get back.