TurboTax is one of our favorite tax services, but not because of the price. Though there is an option for a small military discount, it essentially costs more to run TurboTax than your typical tax service software. That said, there are numerous factors that we like that influenced the higher rating within this TurboTax review.
A free version of TurboTax is available that lets you file while still allowing you to claim things like the earned income tax credit or child tax credit. However, if your tax filing goes more in-depth, into things like running a small business, plan to itemize your return, brought in rental income, you will probably need to step it up to a paid version.
Packages & Pricing
TurboTax Review of Features
Like many others available today, TurboTax lets you work on your return from multiple devices: like your phone via their app, or your computer on their website, making TurboTax products some of the most user-friendly on the market. You can take a picture of your W-2 on your phone and have all of the data transferred to your return automatically, or you can import your W-2 straight from your employer, in addition to entering your information manually.
If you get hung up on something, this is where TurboTax excels in our opinion. The entire experience is like you are having a chat with a CPA. The platform asks questions and displays your answers on your return.
The features for those who look to itemize their returns are quite extensive with TurboTax, in addition to their live help feature where you can actually work with live CPAs for assistance with completing your return for an additional fee.
As mentioned, if you think you’re going to need a lot of assistance, or have a complicated return, TurboTax may be an ideal choice for you. Accessing live CPAs is a huge plus for anyone that has a unique situation or feel filing their return is going to be very difficult. TurboTax offers multiple layers of support to filers:
- A growing online community
- Video tutorials
- Alexa skill for checking return or refund status
- Searchable knowledge base
- Live, on-screen human help (if you paid for it)
TurboTax Live, stands out as the top feature within this platform to us. Though an additional fee is required, you receive as much live tax advice as you want, and a 1-on-1 review with a licensed CPA or enrolled agent ahead of your official filing. They also have an “offline” expert option, where you can ask CPAs, Tax Attorneys, or Tax Agents questions through email. TurboTax live includes year-round tax advice, which can be substantial for those is complex tax situations.
But what if you get audited?
No one wants to be audited. TurboTax gives everyone free audit guidance from a tax professional to help you understand what’s happening if you receive an audit letter. That’s essentially support on questions regarding your audit. However, TurboTax also offers “Max Defend & Restore” for an additional fee, which gets you full representation before the IRS from a tax professional.
TurboTax has come a long way since it’s inception. Today’s is essentially a method of working with live CPAs from the comfort of your own home or business. If the live CPA support isn’t something that you feel you would utilize, there are a number of more economical options for filing your return. TurboTax’s services and performance, while they certainly come at a cost compared to competitors, are top-notch and can save you a world of time and frustration. If you feel that live CPA support is something that you’ll need or utilize with complicated scenarios regarding your return, our TurboTax review implies it to be a top choice for consumers.