Legal and tax experts have been warning us for years that we should start doing our own taxes. It will save money in the long run, as it is much cheaper to file your taxes on your own than to pay a professional $150-$200 to do them for you. The thing is – not everyone has time or knowledge of the subject matter to do their taxes themselves. This is where TurboTax comes in!
What is TurboTax?
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TurboTax is the biggest and most popular tax preparation software in the United States, handling a solid 30% of electronic filings. The program is developed by Intuit, which also handles QuickBooks, Mint, and ProConnect (formerly Lacerte). how much does TurboTax cost
While the company offers a variety of products, the focus of this article will be on TurboTax Free Edition, which is the company’s free online tax filing service.
As the name suggests, TurboTax Free Edition lets you file your taxes for free. The service is available for both federal and state taxes. And it’s completely free — you won’t be charged a dime, regardless of how complex your return may be.
If you have a simple tax situation (for example, if you only have a W-2 from your job), you can use TurboTax Free Edition to file your taxes for free. The service will walk you through each step of the process and help you maximize your deductions and get the biggest refund possible.
And if you have a more complicated tax situation (for example, if you own a home or have significant investments), TurboTax can still help. The company offers several paid versions of its software that are designed for more complex returns. But even if you need to use one of these paid versions, TurboTax will still probably be cheaper than going to an accountant.
The Cost of TurboTax
While TurboTax is one of the most popular tax filing software programs available, it is not free. The cost of TurboTax varies depending on the version you need and whether or not you need state filing. The federal government offers free online filing for taxpayers with simple taxes, but this does not include state taxes or more complex tax situations. nationaltaxreports.com
The Basic version of TurboTax costs $29.99 for a federal return and $36.99 for a state return. The Deluxe version, which is recommended for those with investment income or rental property income, costs $59.99 for a federal return and $36.99 for a state return. The Premier version, recommended for those with complex tax situations, such as self-employment income or stock sales, costs $79.99 for a federal return and $36.99 for a state return. Finally, the Self-Employed version, recommended for those who are self-employed or have side hustles, costs $119.99 for a federal return and $36.99 for a state return.
In addition to the cost of the software itself, there may be additional fees associated with filing your taxes using TurboTax. For example, if you choose to receive your refund via direct deposit, there is a fee of $39.99. And if you need to file an amended return, there is a fee of $39.99 per amended return filed (state and federal).
How to File Your Taxes For Free
If you’re looking to file your taxes for free this year, TurboTax is a great option. They offer a free online tax filing service for those who are eligible. To see if you qualify, simply answer a few questions on their website.
If you do qualify, you’ll be able to file your federal and state taxes for free. You can also take advantage of their free Tax Refund Calculator to estimate your refund amount. And if you need any help along the way, their customer support team is always available to assist you.
So why pay someone else to do your taxes when you can easily do it yourself for free? Get started with TurboTax today and take control of your finances.
Hardware Requirements for Tax Filings
If you want to file your taxes for free using TurboTax, all you need is a computer with an internet connection. That’s it! No special hardware or software requirements.
Of course, if you want to get the most out of TurboTax, we recommend using a desktop or laptop computer rather than a mobile device. The larger screen will make it easier to see all the information and options available, and the full keyboard will make it faster and easier to input your data.
If you’re looking to file your taxes for free this year, TurboTax is a great option. With TurboTax Free, you can file your federal and state taxes for free, as long as you don’t have any complicated tax situations. And even if you do have some complications, TurboTax Free can still help you get your taxes done for free. So why not give it a try? You might be surprised at how easy and stress-free it is to file your taxes with TurboTax Free.