TurboTax Review 2022-2023: Honest Review by a CPA
Most of the information you need for your state tax returns will be transferred over from the previous inputs you made for your federal return. Based on the prices at the time, I was being asked to pay an additional $80 to TurboTax in order to get a deduction that will result in $30 of tax savings! Now, I have no problem with TurboTax charging what it needs to for its services, but I think TurboTax could really be more transparent here by stating exactly how much one would save in taxes by upgrading. Because the test tax return I was preparing at the time was a very simple return — just W-2 income — I found this offer for audit protection pretty distasteful. And even if you are “audited,” the IRS will probably just be asking for tax forms to verify the items on your return. In other words, if your tax return is simple, you probably don’t need this audit protection.
How does TurboTax work?
TurboTax packages up the things most people need to file their taxes. While some people with very complex or unique situations may feel more comfortable with the direct assistance of a tax professional, the majority of tax situations are easily covered by TurboTax.TurboTax offers online and desktop versions of its software, with different prices depending on your tax filing needs. You can also log in and work on your taxes with the TurboTax mobile app for Android and iOS devices.Like other tax programs, TurboTax is driven by a series of questions and answers about your household, income, and opportunities for deductions and credits. In addition to answering these questions, you’ll need to add information from your employer, other income sources, and 1099, 1098, W-2, and other tax forms that may show up in your mailbox or inbox.
Like some competitors, TurboTax tries to streamline and accelerate data entry where possible. For example, you can import W-2 data if your employer supports this option or upload a copy of your W-2 to automatically fill in the details. You can upload a copy of the form, or you may be able to import the information directly from your bank. Where these options aren’t available, you click through related clusters of questions.
All TurboTax products include
It’ll help you file your return quickly and easily — and for most taxpayers, TurboTax’s higher price will be worth the peace of mind it provides. This story is part of Taxes 2023 , CNET’s coverage of the best tax software, tax tips and everything else you need to file your return and track your refund. Money Done Right is a website devoted to helping everyday people make, save, and grow money. While our team is comprised of personal finance pros with various areas of expertise, nothing can replace professional financial, tax, or legal advice. The second option, on the other hand, can be very helpful, but keep in mind that the answers to these questions are not necessarily from tax professionals , and they’re often anonymous.
When you use one-way video with your tax expert, you’ll be able to see them, but they can’t see you. Don’t worry, TurboTax double-checks your return for errors as you go, and before you file. We also guarantee our calculations are 100% accurate, or we’ll pay you any IRS penalties plus interest. Every TurboTax Live tax return is backed by these guarantees. • Before you file, CompleteCheck™ will run an in-depth scan of your return and guide you through any final changes so you don’t miss a thing with accuracy guaranteed. File 100% FREE with Live Expert help with TurboTax Live Assisted Basic. If you realize you forgot something at this stage, you can’t go back.
TurboTax Live Full Service vs. H&R Block Virtual
The upsell I was shown during my first test return was for TurboTax Max audit protection. This service was listed as costing an additional $50. Itemized deductions on Schedule A such as the mortgage interest deduction, property tax deduction, state income taxes deduction, and charitable contributions deduction.
However, you’ll need to upgrade to TurboTax MAX to have a TurboTax pro represent you while dealing with the audit. Embedded links on each screen offer tips, explain different income, deductions, and tax credits. For users with straightforward tax returns to pricier packages for people who’d rather turn their taxes over to a professional. As shown in my video tutorial, all you have to do is click on the correct TurboTax Live Full Service product for you.
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If it turns out you need the more expensive edition, you can just upgrade as you prepare your returns. Turbotax Live 2021 And remember, TurboTax doesn’t take any payment up-front; you simply pay when you file your taxes.
Thousands of high-income households failed to pay Portland area taxes to fund homeless services, preschool – OregonLive
Thousands of high-income households failed to pay Portland area taxes to fund homeless services, preschool.
Posted: Wed, 01 Feb 2023 19:48:00 GMT [source]
Which sandwich would you be if you were a menu item at your favorite deli? (Okay, I made that one up.) The question-and-answer format made it much easier for me to feel confident I was following the right process. So, if you like to do your own taxes but wouldn’t mind some help from an expert, do yourself a favor https://turbo-tax.org/ and check out TurboTax Live. You can start the tax preparation process for free here. If there is a bug in the app, I’ve no idea how to proceed. I found it impossible to report the issue through the app itself. And there was nowhere that explains what to do if the user experiences a problem with the app itself.
TurboTax’s Exceptional User Experience
Note that if you choose anything other than “I have a job (received W-2)” and “I have children or dependents” TurboTax will steer you toward one of the paid options rather than the free option. The first thing you’ll see after you sign up for TurboTax is a screen with twelve options that you can select. In this TurboTax review I will give a general overview of the TurboTax software as well as the pros and cons of using it so you can decide for yourself whether TurboTax is the tax software for you. Many of you know that TurboTax is generally viewed as the “cream of the crop” of do-it-yourself tax software — with the price point to prove it. You can also use the search tool similar to the one in the browser-based version to enter questions and get lists of responses. You may not always get the answer you’re looking for at the top of the list, but the context-sensitive help always hits the mark. A vertical navigation bar on the left divides the site into My Info, Federal, State, Review, and File.