Tax season is looming. Accountants are gearing up for people to file in for help navigating the treacherous tax system. Many people who choose to fill out and file their own taxes will turn to Turbo Tax for help. This tax refund software company offers 4 different versions depending on the needs of the consumer. Is Turbo Tax Deluxe Edition Tax Refund Software the right fit for your tax needs?
Basic Overview of Turbo Tax Deluxe Edition
According to Turbo Tax, Turbo Tax Deluxe Edition Tax Refund Software is geared towards individuals who own their home, have childcare, education, or medical expenses, and donate to charity. If you rent your home and anticipate a straightforward tax refund, the Turbo Tax Basic Edition is likely the best bet. Likewise, individuals who own substantial investments and/or rental property are better geared towards Turbo Tax Premier Edition, and individuals who are self employed should consider Turbo Tax Home & Business.
The Turbo Tax Deluxe Edition costs $29.95 direct from their website for the federal return, with a free e-file included. The state edition is optional, at another $29.95.
Benefits of Turbo Tax Deluxe Edition
Turbo Tax was the first tax return software that my husband and I tried after graduating from college. We found the software easy to navigate and follow. The process is straightforward, and the computer program guides you through each step and verifies that you have entered all of the relevant tax information. In addition, the software rules out the common concern of human error, especially with mathematical calculations. It can be significantly less expensive than hiring an accountant.
One of the things we strongly advise that Turbo Tax Deluxe Edition users take advantage of is the possibility to e-file. Our tax refunds have been received much faster as a result of this new technology. Simply provide relevant banking information, and the refund will be credited into your account directly.
Another benefit of the Turbo Tax Deluxe Edition is that the software searches for over 350 possible deductions for you. Through a series of questions, the program determines if there are additional ways to maximize your tax refund. It eliminates the need for you to do this research you own. Though the software says that it is not geared towards investments, we were able to use it for the minimal investments and stocks that we had at the time, but it would have been necessary to upgrade if we had major investments.
Another new feature of Turbo Tax’s Deluxe Edition is the opportunity to upload your W9 results directly from your employer, if they choose to participate. Finally, if you have uploaded personal information one year, it will not be necessary to re-enter it in subsequent years.
Drawbacks of Turbo Tax Deluxe Edition
Turbo Tax Deluxe Edition is relatively pricey for something that you could, ultimately, do on your own manually, but if you can afford it, it is well worth the investment. There are other software programs out there that cost less. The additional charge for the state edition does seem excessive, as does the price increase for investments between the Deluxe and Premier Editions.
One other complaint about Turbo Tax is that you do need a relatively decent computer and internet connection to reap the benefits of the software. Computer crashes and complications do arise, and you could end up having to re-enter data if the computer freezes or your internet connection lost. We have had this happen to us during the e-filing process once, but thankfully, it was easily sorted.
Ultimately, Turbo Tax Deluxe Edition is a helpful aid during tax season. The program is well designed, and the company offers substantial consumer support when required. An investment in Turbo Tax Deluxe Edition is one that you won’t regret.