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You can continue to file your taxes with TurboTax Today! Original article dated Jan. 25, 2019 Today, the President announced plans for a. Due to the tax reform law passed in December 2017, you can still take tax deductions for certain expenses related to home ownership. Tax Refunds, Taxes 101.
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Companies such as Intuit help taxpayers prepare complex returns using a keyboard and mouse instead of pen and paper. Taking advantage of a computer's ability to manage information quickly, Intuit's TurboTax applications make filing tax returns as simple as answering questions. Multiple versions of TurboTax exist, such as TurboTax Deluxe and TurboTax Home & Business. Because they have different prices and provide different features, compare the two programs carefully before choosing one.
How TurboTax Works
TurboTax applications run on the Web and make it possible for people to prepare their taxes anywhere an Internet connection exists. The TurboTax website provides a wizard that helps you prepare your tax return accurately. TurboTax Deluxe and TurboTax Home & Business both provide tax experts that can assist you by phone or by using chat. Your information is secure when using any TurboTax version because you create a secure password and user ID when you sign up. You don't have to finish your return in one sitting because the site remembers everything you've done.
TurboTax Deluxe
Less expensive than TurboTax Home & Business, TurboTax Deluxe provides enough features that many taxpayers need to prepare their returns successfully. TurboTax Deluxe helps you maximize deductions and receive all credits for which you qualify. You don't have to enter information from your W-2 and 1099 forms manually because the program can copy that data into the application if your employer or financial situation makes that information available to TurboTax. As you answer questions that the wizard provides, TurboTax calculates your current tax liability or refund and displays it on every page.
TurboTax Home & Business
TurboTax Home & Business is the company's most advanced tax-preparation program. It has all the features the less expensive versions have and gives you additional tools to help you report business income. This is useful for business owners because TurboTax Home & Business can find money-saving business tax deductions and help business owners identify deductible expenses that can help them minimize tax liabilities. Intuit recommends choosing TurboTax Home & Business if you are a single-member LCC, a sole proprietor or a 1099 contractor. Intuit also suggests using this version if you file personal and business taxes together, prepare W-2s and 1099-MISC forms, or receive income from self-employment or a side job.
General TurboTax Benefits
Intuit assures taxpayers that its results are accurate. It also notes that the company will pay any penalty and interest you incur if the IRS discovers a mistake due to a TurboTax calculation error. When you're ready to submit your return, you have multiple options. You can print out all the tax forms that TurboTax created and mail them to the IRS. You also have the option to let TurboTax file your return electronically. Each TurboTax version performs a final scan of information you've entered, looks for potential problems and helps you correct them.
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About the Author
After majoring in physics, Kevin Lee began writing professionally in 1989 when, as a software developer, he also created technical articles for the Johnson Space Center. Today this urban Texas cowboy continues to crank out high-quality software as well as non-technical articles covering a multitude of diverse topics ranging from gaming to current affairs.
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100% accurate calculations guarantee: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, TurboTax will pay you the penalty and interest.
Maximum refund guarantee - or your money back: If you get a larger refund or smaller tax due from another tax preparation method, TurboTax will refund the applicable TurboTax federal and/or state purchase price paid.
Audit support guarantee: Visit the TurboTax Audit Support Center for instructions how to receive step-by-step guidance about why the IRS contacted you, what to expect and how to prepare – as well as the option to connect with an expert. If you received an audit letter based on your personal 2016 TurboTax return and are not satisfied with how TurboTax responded to your inquiry, TurboTax will refund you the applicable TurboTax federal 1040 and/or state purchase price you paid. TurboTax will not represent you or provide legal advice. Excludes TurboTax Business.
60 day money-back guarantee: Try TurboTax software. If you’re not satisfied, return it to Intuit within 60 days of purchase with your dated receipt for a full refund. Learn more at TurboTax.com.
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Import: Imports financial data from participating companies; may require a free online account. Quicken and QuickBooks import not available with TurboTax installed on a Mac. Imports from Quicken (2016 and higher) and QuickBooks Desktop (2012 and higher); both Windows only. Quicken products provided by Quicken Inc. Quicken import subject to change.
About TurboTax product experts: Customer and product phone support vary by time of year.
About credential tax experts: Live tax advice via phone is included with Premier and Home & Business; fees apply for Basic and Deluxe customers. State tax advice is free. Service, experience levels, hours of operation and availability vary, and are subject to restriction and change without notice. Not available for TurboTax Business customers.
Fastest refund possible: Fastest refund with e-file and direct deposit; refund timeframes will vary.
Turbotax Home Business Download
TurboTax CD/Download products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for e-filing state returns. E-file fees do not apply to New York state returns. Prices subject to change without notice.