With a new year comes your W2 and other tax forms from the previous year.
That means it’s time to get your taxes filed.
Fun times, right?
No need to be intimidated when you have TurboTax online tax software to guide you every step of the way.
Every edition of the 2012 TurboTax software guarantees you a maximum refund, 100% accurate calculations, and free audit support with the TurboTax Total Assurance™, assuring your confidence in filing this year.
Whether filing your taxes will be EZ, or if things get a bit more complicated with deductions, investments, and businesses, there’s a TurboTax software for you!
For those who e-filed using TurboTax Online in 2012, you probably already received several e-mails with your user ID to sign in, start, and continue your 2012 tax return. Depending on the edition you choose, you may even be able to transfer last year’s tax info automatically!
If you have questions along the way, you have a host of support, including personalized answers live by online chat or by phone, as well as being able to ask tax experts and experienced TurboTax users questions you may have. You never have to feel alone when filing your taxes this year.
TurboTax Online Tax Software Review
TurboTax offers step-by-step guidance from beginning to end. Filing is easier than ever, with features such as:
- Suggestions based on your personal situation for what you should deduct or credit
- Tax law changes, for you to read and included in the software as you file
- An update of how much you’re saving with each deduction or credit
- A simple summary of your taxes and what’s next
- Alerts as soon as you make a mistake
- The ability to flag an area you may be having trouble with, to come back to it later
- A variety of ways to get the help you need, including: a comprehensive FAQs section, free customer support via phone, online chat, or social network interaction (Facebook & Twitter), or ask tax experts (more on that below), and other TurboTax users
Ask a Tax Expert
Doing your taxes yourself doesn’t have to be difficult.
If you have a question about your taxes, you can get live one-on-one guidance from a tax professional — FREE.
You can either chat online or talk on the phone about your tax questions. They can help you have more confidence in your return by giving you guidance on your specific situation.
If you have a question while your doing your taxes, hit the “Get Your Questions Answered” button and you’ll be able to chat or talk to a tax professional.
The tax experts are made up of highly-qualified CPAs, tax attorneys, and IRS-Enrolled agents. They are available from 5am-9pm Pacific Time.
That’s a pretty cool option to have. As easy as it can be to use TurboTax, some situations are still confusing (that’s taxes for you). Being able to articulate your question with a professional can go a long way to clearing up any hesitation you have about filing your taxes online.
Because there are several editions of TurboTax 2012, you may not know which is the right product for you.
They help you choose with a checklist of questions to figure out which solution will yield you the biggest refund.
Still questions regarding which is the right product for you?
Read the reviews of thousands of users like you, giving their honest opinion. Rest assured, each product has received an average of 4 out of 5 stars! [Though take them with a grain of salt as it is their site.]
So how do you receive your “biggest refund?”
If you find that you can get a bigger refund with another software then you will get your money back from TurboTax (many other programs are like TurboTax in that you can start your return for free).
TurboTax will go through over 350 deductions for you and make sure to look for common overlooked tax deductions to make sure you get the biggest refund possible.
Use TurboTax’s ItsDeductible® tool to get values on over 1,000 commonly donated items so you can properly estimate your charitable donations. TurboTax will also help you determine if you qualify to deduct medical expenses.
Track Your Refund
Even after you’ve filed TurboTax is there for you. Track the status of your return online or via their smartphone apps.
TurboTax Online Editions
You have five TurboTax editions to choose from: Free Edition, Basic, Deluxe, Premier, and Home & Business. No matter which one you choose, all of them can be started for free, and you simply pay when you file.
TurboTax Online Free (Free) + (optional) $27.95 state
The Federal Free edition is for the simple tax returns such as 1040EZ, 1040A, and 1040.
You breeze through the process at your own pace, bypassing questions that don’t apply to you, and asking you questions in plain English so that you understand. Whether you’re putting in information from your W-2, retirement, disability, or even unemployment benefits, this is the simplest program to use.
(Learn more about the Free Edition.)
TurboTax Online Basic ($19.99)
The Online Basic edition is also for beginners, but with a little more guidance.
You have the ability to:
- Save time by transferring last year’s tax info.
- Have your W-2 and 1099 information imported from over 400,000 employers and financial institutions (so much better than manually entering your info.). That’s 300,000 more than last year!
- Pressed for time? Save your progress and continue when you’re ready.
(Learn more about the Basic edition.)
TurboTax Online Deluxe ($29.99)
Looking to maximize your deductions?
The Deluxe software is for you.
You benefit from the same features from the basic package, and: Reduce your risk of an audit with audit risk alerts to help you reduce your chances of an audit. You can also see how different life changes will affect your taxes. TurboTax will automatically fill in information for you when you indicate a life change like buying/selling a house, getting married, having a baby or changing jobs. You also get the chance to find deductions you may not have known about, and…
- Learn more about how life events, medical expenses, and donations affect your return
- Searches for more than 350 deductions and credits
- Alerts you to audit risks and offers tips to reduce your chance of an audit
TurboTax Online Premier ($49.99)
Those with investment or rental properties will do best with TurboTax Premier.
Get all that Deluxe has to give, and more:
- Extra guidance for your investments like stocks, bonds, and mutual funds
- Finds more than 20 deductions for landlords, including travel and advertising costs
- Looks for deductions when it comes to your retirement accounts like your 401(K) and IRA
- Searches out tax-saving rental property deductions.
(Learn more about the Premier edition.)
TurboTax Online Home & Business ($74.99)
Looking for all the cream of the crop to include your business and personal information?
Choose Home & Business, where you get an all inclusive package. Whether you’re self-employed or own an LLC, you can rest easy knowing you have:
- Deductions for using your vehicle for business purposes
- Guidance for creating W-2 and 1099 forms for your employees
- Find deductions based on the industry your business is in
- Asset depreciation advice
- Guidance for new businesses
- and more…
(Learn more about the Home & Business edition.)
If you still aren’t sure which program is right for you, switch and have the information you’ve already put in transfered over to another edition and go from there.
My History with TurboTax
When I started out doing my taxes, I did them manually. But back then online options weren’t like they are now (and we powered cars with our feet too!).
After a couple of years of this I discovered how easy TurboTax was to use. It was so much quicker going through their program than going through the forms and entering in my information by hand (not to mention I have terrible hand writing).
There are certainly benefits to using a tax professional, like a CPA, to do your taxes. But for a good number of people this isn’t necessary and you would end up over-paying.
Choose the #1 rated tax preparation program and you’ll be confident to know you have the biggest refund, guaranteed.
Remember, you can start it free. You pay once you are ready to file.
Click here to get started with TurboTax.
[Keep in mind that State tax returns are an additional fee, though there is no cost for the efiling.]
Very informative. I’ve used Turbo Tax in the past with success. I like having someone else do mine, though they aren’t complicated.
Depending on what you are paying, it could be easier to do your taxes through something like TurboTax, especially if your taxes aren’t complex.
Glen, you hit on the key point of only if they are not complex. I just had a new client present to me his Turbo Tax return. There were many errors made and his insight as to some of the tax choices he made was very low. He made some elections and took tax positions that unwittingly had hurt him. So readers should be cautioned that only the simplest of returns should be do it yourself jobs.
After comparing TurboTax and the H&R Block programs, it seems to me that TurboTax is the way to go, with better options for professional help.
I think it’s a matter of personal preference. They are both great tax prep software.
Great review. I love getting my taxes done early. Hate having them hang over my head. Thankfully, this year I won’t get any $$ back. This tells me I didn’t give my money to the government for them to play with. I’d rather pay in….so I can invest and use my money the way I want to.
The pressure of hoping you have everything you need for your taxes at the last minute — it’s too much. Better to get them done as soon as possible.
And I agree, the closer you can get to zero, be it owing or a refund, the better. I’d rather have the money throughout the year.
I definitely use tax preparation software to find lesser known deductions. I always cringe a little when people I know say how much they are looking forward to getting a big tax refund. I ask them… Wouldn’t it have been better if you could have used that money throughout the year and not give the government an interest free loan.
Yeah, I’ve had that argument a bunch of times. I’d rather have the money now than later myself.
Good point on finding lesser known deductions!
Yes, the other side of this is when clients complain that they owe a lot of taxes. This really means that they made a lot more money during the current tax year than the year before. So they should not be complaining.
I certainly wouldn’t mind being in the highest tax bracket (so long as it means I’ve made the income to put me there).