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TurboTax Review 2023

9 excellent ratings
TurboTax
Updated On 2 August, 2023

Designed to guide you through the entire tax filing process step by step, ensuring that you don’t miss out on any deductions or credits. With TurboTax, you can file your taxes with confidence, knowing that you’re getting the maximum refund you’re entitled to.

Introduction

One of the most impressive features of TurboTax is its intuitive user interface. It’s designed to be easy to use, even for first-time users. TurboTax provides an interactive experience that walks you through the entire process, asking you simple questions to help you identify any deductions or credits that you may qualify for.

Another great thing about TurboTax is that it is constantly updated to reflect the latest tax laws and regulations. This ensures that you’re always up-to-date and that your taxes are filed correctly. TurboTax also provides a range of tools and calculators to help you estimate your tax liability, plan for next year’s taxes, and more.

TurboTax also offers a range of plans to suit different needs and budgets. Whether you’re a student, self-employed, or a small business owner, there’s a TurboTax plan that’s right for you. The plans vary in price and features, but all of them come with the same commitment to accuracy and user-friendliness.

To summarize, TurboTax is an advanced Best Software for tax that makes filing your taxes a breeze. It is a user-friendly, constantly updated version that offers a range of plans to suit different needs and budgets. With TurboTax, you can file your taxes with confidence, knowing that you’re getting the maximum refund you’re entitled to.

Check out our other review post on cash app taxes review to find out about the turbotax pros, cons, features & ease of use.

Pros

  • Convenience
  • User-Friendly
  • Accuracy
  • Speed

Cons

  • Cost
  • Learning Curve
  • Limited Personal Interaction
  • Potential Errors

Performance at Glance

TurboTax is generally considered to be one of the best tax software programs on the market, and it consistently receives high-performance ratings from users and industry experts alike. Here are some of the most notable performance ratings for TurboTax:

Specifications

TurboTax Star Rating at Glance

Our Verdict (1 Sentence)

Ease of Use

Designed to be intuitive and user-friendly, with a step-by-step process guide that helps through the entire tax filing process.

Ease of Setup

TurboTax is very easy to set up, with a simple and user-friendly interface that guides you through the process step-by-step.

Pricing

It can be more expensive than some other tax software programs. However, the software's features may justify the higher price.

Features

Offers a wide range of features that can benefit taxpayers of all levels of experience and complexity. 

Support

Offers excellent customer support, with several options, including live chat, phone support, and email support. 

G2 Rating

High G2 rating is a testament to its reputation as one of the most reliable and user-friendly tax software programs 

Features Of TurboTax Online Software

TurboTax online software is packed with features designed to make the tax filing process faster, easier, and more accurate. Here are some of the most important features of TurboTax online software:

Features

Turbo Tax

Import’s Competitor’s Returns

Yes

All Major IRS Forms & Schedules

Yes

Comprehensive Navigational Outline

No

Chat Help

Yes

Phone Supports for Tax Topics

Yes

Hyperlinked Help in Interview

Yes

Context-Sensitive Help

Yes

Searchable Help Database

Yes

Mobile Access

Yes

Who Should Use TurboTax Software?

TurboTax software is designed for individuals and small businesses who need to file their taxes accurately and efficiently. The software is suitable for a wide range of users, from those with basic tax situations to those with more complex needs.

If you have a simple tax situation, such as a standard W-2 form and no additional sources of income or deductions, TurboTax’s Free Edition may be a good option for you. This plan offers free federal and state tax filing and is ideal for those who only need to file a basic tax return.

For individuals with more complex tax situations, TurboTax’s Deluxe, Premier, or Self-Employed plans offer additional features and support. These plans can help you navigate more complicated tax situations, such as investment income, rental property income, and self-employment income and expenses. Additionally, TurboTax offers expert review and audit defense services for those who want additional peace of mind.

Small business owners, freelancers, and independent contractors may find TurboTax’s Self-Employed plan to be particularly useful. This plan offers support for business-related expenses, such as home office deductions and mileage tracking, as well as guidance on estimated tax payments and other business-related tax issues.

Overall, TurboTax software is an excellent option for individuals and small businesses who want to file their taxes accurately and efficiently. The software offers a range of plans and features to suit different needs and budgets, and its user-friendly interface and customer support make it easy for users of all experience levels to navigate.

How Does TurboTax Online Software Work?

TurboTax online software is a web-based platform that allows individuals to prepare and file their taxes electronically. The software is designed to guide users through the tax preparation process, offering step-by-step instructions and support.

Getting Started

To use TurboTax online software, users must first create an account and choose a pricing plan that suits their needs. After selecting a plan, users will be prompted to enter their personal and financial information, such as their name, address, Social Security number, and income.

Tax Preparation Process

Once users have entered their information, TurboTax will begin guiding them through the tax preparation process. The software will ask a series of questions to determine the user’s tax situation, including their sources of income, deductions, and credits. Based on your answers, TurboTax will automatically populate the appropriate tax forms and schedules.

Review and Editing

After completing the tax preparation process, TurboTax will provide a summary of the user’s tax return, including their refund or amount owed. Users can review and edit their returns at any time before filing. TurboTax will automatically check the return for errors and inconsistencies and will provide guidance on how to correct any issues.

Filing

Once the user is satisfied with their tax return, they can file electronically using TurboTax’s e-file system. The software will prompt the user to sign and submit their return electronically, eliminating the need to print and mail paper forms.

Additional Features

TurboTax online software offers a range of additional features and tools, depending on the pricing plan selected. These may include import capabilities for W-2 and 1099 forms, support for investment income and rental property income, and guidance on estimated tax payments and other tax-related issues.

Overall, TurboTax online software is a user-friendly and efficient way for individuals to prepare and file their taxes electronically. The software is designed to guide users through the tax preparation process, providing step-by-step instructions and support along the way. With its range of additional features and tools, TurboTax can help users navigate even the most complex tax situations with ease.

Significant Features of TurboTax Software

TurboTax is a popular tax preparation software that can help individuals and small businesses to file their taxes accurately and efficiently. Some of the top features of TurboTax software include:

User-Friendly Interface

TurboTax has a user-friendly interface that makes it easy for users to navigate through the software and complete their tax returns. The software offers step-by-step guidance throughout the tax preparation process, ensuring that users don’t miss any important information.

Live CPA Assistance 

TurboTax offers live CPA assistance to its users, allowing them to connect with certified tax professionals and get answers to their tax-related questions. This feature is especially helpful for users who have complex tax situations or are unsure about certain tax rules.

Automatic Import Of Financial Data 

TurboTax can automatically import financial data from a variety of sources, including W-2 forms, investment accounts, and bank statements. This feature saves users time and reduces the risk of errors caused by manual data entry.

Free Filing Option 

TurboTax offers a free filing option for users with simple tax returns. This option allows users to file their federal and state taxes for free without having to pay for any additional features.

Deduction And Credit Maximization 

TurboTax’s Deduction and Credit Maximizer feature help users to identify all the deductions and credits they are eligible for, maximizing their tax refunds and reducing their tax liabilities.

Audit Support

TurboTax provides audit support for users who receive an audit notice from the IRS. This feature includes access to a tax professional who can provide guidance and assistance throughout the audit process.

Mobile App

TurboTax offers a mobile app that allows users to file their taxes from their mobile devices. The app is available for both iOS and Android devices, and it offers many of the same features as the desktop version of the software.

Overall, TurboTax offers a wide range of features that can help users to file their taxes accurately and efficiently. Whether you have a simple tax situation or a more complex one, TurboTax has the tools and resources to help you get the job done.

Top TurboTax Online Software Alternatives

TurboTax is a popular tax preparation software, but there are several other alternatives that users may want to consider. Here are two top TurboTax online software alternatives:

Parameters

Turbo Tax

H&R Block

TaxAct

Stimulus Credit

Free+

Free

Free

Unemployment Income (1099-G)

Deluxe+

Free+

Classic+

Student Loan Interest

Free+

Free+

  Deluxe+

Import Last Year’s Taxes

Free+

Free+

Free+

Audit Support

Included with Free, all others must upgrade

Worry-free audit support add-on only

Not Offered

Capital Gains

Premier+

Premier+

Premier+

Rental Income

Premier+

Premier+

Premier+

Interest Income

Free+ (Limited Income)

Free+

Deluxe+

HSAs

Deluxe+

Deluxe+

Deluxe+

H&R Block 

H&R Block is a tax preparation software that offers many of the same features as TurboTax. It has a user-friendly interface and provides step-by-step guidance throughout the tax preparation process. H&R Block also offers free filing for simple tax returns and provides access to tax professionals who can answer users’ questions. One unique feature of H&R Block is its “Tax Pro Review” option, which allows users to have their tax returns reviewed by a tax professional before filing.

TaxAct

TaxAct is another tax preparation software that is similar to TurboTax. It offers a user-friendly interface and provides step-by-step guidance throughout the tax preparation process. TaxAct also offers free filing for simple tax returns and provides access to tax professionals who can answer users’ questions. One unique feature of TaxAct is its “Price Lock Guarantee,” which guarantees that users will pay the same price for their tax return regardless of when they file.

Both H&R Block and TaxAct are reliable alternatives to TurboTax that offer similar features and capabilities. Users should consider their specific tax situation and need when choosing a tax preparation software, as each software may have different strengths and weaknesses.

How Do You Get Started With TurboTax?

Getting started with TurboTax is a relatively straightforward process. Here are a few steps you can follow to get started:

Create An Account

The first step to using TurboTax is to create an account. You can visit the TurboTax website and click on the “Sign In” button in the top right corner of the page. From there, you will be prompted to create a new account by providing your email address and creating a password.

Choose A Tax Product

Once you have created an account, you will need to choose a tax product that is right for your tax situation. TurboTax offers a variety of different products, including Free Edition, Deluxe, Premier, and Self-Employed. Each product has different features and capabilities, so it is essential to choose the one that best meets your needs.

Enter Your Personal Information 

After choosing a tax product, you will be prompted to enter your personal details, including your name, address, social security number, and other identifying details. You will also need to provide information about your income, deductions, and credits.

Answer Questions And Provide Information 

TurboTax will guide you through a series of questions and prompts to help you provide all the necessary information for your tax return. The software will ask about your income, deductions, credits, and other relevant information to ensure that you are filing an accurate tax return.

Review And File Your Return 

Once you have provided all the necessary info, TurboTax will provide a summary of your tax return for a review. You should carefully review the summary to ensure that all the information is accurate and complete. If everything looks correct, you can file your tax return directly through TurboTax.

Overall, getting started with TurboTax is a relatively easy process. TurboTax is designed to guide users through the tax preparation process step-by-step, so even first-time users should be able to navigate the software with ease.

How Does TurboTax Online Software Help, Self-Employed People?

TurboTax Online Software offers several features and tools that can be particularly helpful for self-employed people. Here are some ways in which TurboTax Online Software can assist self-employed individuals:

Business Expense Tracking

Self-employed individuals often have many business expenses to track, including office supplies, travel expenses, and equipment costs. TurboTax Online Software allows users to easily track and categorize these expenses throughout the year, making it easier to claim deductions come tax time.

Schedule C Guidance

Self-employed individuals are required to file a Schedule C form as part of their tax return, which reports the profits and losses of their business. TurboTax Online Software provides step-by-step guidance for completing the Schedule C form, making it easier for self-employed individuals to file an accurate tax return.

Self-Employment Tax Calculator

Self-employed individuals are responsible for paying both income tax and self-employment tax, which covers Social Security and Medicare contributions. TurboTax Online Software includes a self-employment tax calculator that can help users estimate their tax liability and ensure that they are setting aside enough money for tax payments.

Simplified Quarterly Estimated Tax Payments

Self-employed individuals are required to make quarterly estimated tax payments throughout the year. TurboTax Online Software can help simplify this process by calculating estimated tax payments based on the user’s income and expenses and providing reminders when payments are due.

Deduction And Credit Maximization 

TurboTax Online Software includes a Deduction and Credit Maximizer feature that can help self-employed individuals identify all the deductions and credits they are eligible for. This can help maximize tax refunds and reduce tax liabilities.

Integration With Accounting Software 

TurboTax Online Software can integrate with accounting software such as QuickBooks, making it easier for self-employed individuals to import financial data and ensure that their tax return is accurate and complete.

Overall, TurboTax Online Software can be a valuable tool for self-employed individuals, providing guidance and support throughout the tax preparation process and helping to ensure that their tax return is accurate and complete. With its many features and tools, TurboTax Online Software can help self-employed individuals to save time and minimize their tax liabilities.

TurboTax’s Support Options

TurboTax is one of the most popular tax preparation software programs available, and it offers a range of support options to help users navigate the tax preparation process. Whether you are a first-time user or a seasoned tax filer, TurboTax provides support options to help you maximize your refund and minimize your stress.

Here are some of the support options available with TurboTax:

TurboTax Help Center

The TurboTax Help Center is a comprehensive online resource that provides answers to a wide range of tax-related questions. The Help Center includes articles, videos, and frequently asked questions, covering topics such as tax deductions, credits, and filing requirements. The Help Center also includes a community forum where users can ask and answer questions, share tips and advice, and connect with other TurboTax users.

TurboTax Live 

TurboTax Live provides users with live, on-demand access to certified tax experts who can provide personalized advice and guidance. With TurboTax Live, users can chat with a tax expert online or over the phone to get help with their tax questions and concerns. TurboTax Live experts can also review your tax return to ensure accuracy and help you get the maximum refund possible.

TurboTax SmartLook

TurboTax SmartLook is a video chat service that allows users to connect with a live TurboTax expert for personalized tax advice and guidance. With SmartLook, users can get real-time help with their tax questions and concerns, including assistance with tax deductions, credits, and filing requirements.

TurboTax Mobile App 

The TurboTax mobile app is a convenient way to prepare and file your taxes on the go. The app includes all the features of the desktop version, as well as a range of mobile-specific tools and support options. Users can use the app to track their tax refund, snap a photo of their W-2 to import their tax information, and get personalized advice and guidance from TurboTax experts.

TurboTax Virtual Assistant 

The TurboTax virtual assistant is an artificial intelligence-powered chatbot that can help users with their tax questions and concerns. The virtual assistant uses natural language processing to understand and respond to user inquiries, providing personalized guidance and advice to help users maximize their refunds and minimize their stress.

Overall, TurboTax offers a comprehensive range of support options to help users navigate the tax preparation process. Whether you prefer online resources, live support, or mobile tools, TurboTax has something to offer to help you prepare and file your taxes with confidence.

Conclusion

TurboTax is a powerful tax preparation software that offers a wide range of features and support options to help users prepare and file their taxes. With its intuitive interface, comprehensive support resources, and user-friendly tools, TurboTax is a great choice for anyone looking to simplify the tax preparation process. Overall, TurboTax is an excellent tool for maximizing your refund and minimizing your stress, and it’s definitely worth considering if you’re in the market for tax preparation software.

Frequently Asked Questions

Is State Tax Filing Free With TurboTax?

TurboTax offers a free federal tax filing option for basic tax returns, but users must pay an additional fee to file their state taxes. The fee varies depending on the user’s state and the complexity of their tax return. However, TurboTax does offer a range of pricing plans and promotions to help users save money on their state tax filing fees. Additionally, some users may be eligible for free state tax filing through the Free File Program, which is available to taxpayers with a certain income level. Overall, while state tax filing is not free with TurboTax, the software offers competitive pricing and a range of options to help users file their state taxes efficiently and accurately.

Is TurboTax Free?

TurboTax provides a free version for federal tax filing, but state tax filing requires an additional fee. The free version of TurboTax is suitable for users with simple tax returns, such as those with only W-2 income, limited interest and dividend income, and standard deductions. However, if your tax situation is more complex, you may need to upgrade to the paid plan to access more features and support options. Therefore, although TurboTax has a free version, additional fees may apply depending on your tax situation and filing requirements.

 Is TurboTax A Good Service To Use?

 Yes, TurboTax is generally considered a good tax preparation service to use. The software is easy to use, provides step-by-step guidance, and offers a range of support options to help users navigate the tax preparation process. TurboTax also offers a high level of accuracy, with a guarantee that your tax return will be accurate or TurboTax will pay any penalties or interest fees resulting from errors in the return. Additionally, TurboTax offers a range of pricing options to fit different budgets and tax needs, from a free version for simple returns to more advanced versions for complex tax situations. 

Do I Have To Buy TurboTax Every Year?

Yes, you need to buy TurboTax every year if you want to use the software to prepare and file your tax return. TurboTax offers a new version of the software each year, which is updated to reflect any changes to the tax code and to include new features and improvements. While you can reuse your previous year’s data to make filing easier, you will still need to purchase the current year’s version of the software to file your taxes for that year. However, if you have a simple tax return, you may be able to use the free version of TurboTax, which can save you money on the cost of the software.

Can TurboTax Help Me With My State Taxes?

Yes, TurboTax can help you with your state taxes. In addition to federal tax preparation and filing, TurboTax offers state tax preparation and filing services for all 50 states. When you use TurboTax to prepare your federal tax return, the software will automatically transfer your information to the appropriate state tax return. TurboTax also provides step-by-step guidance and support to help you accurately complete your state tax return and maximize your state tax refund. However, users must pay an additional fee to file their state taxes through TurboTax.

Is TurboTax Secure?

Yes, TurboTax is secure. The software uses encryption technology to protect user data, and the company adheres to strict privacy policies and industry standards for data protection. Additionally, TurboTax offers two-factor authentication and other security measures to prevent unauthorized access to user accounts. Overall, TurboTax takes security seriously and works to ensure that user data is protected throughout the tax preparation and filing process.

TurboTax

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Alekh Shah

Alekh Shah

VIP Contributor, US | Growth Marketing

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With over a decade of experience in the digital marketing landscape, Alekh has driven exponential growth for global Fortune 500 brands. He has led dynamic, results-oriented teams to acquire customers across digital channels. He develops strategies that deliver tangible business results. His expertise spans digital marketing, branding, organic growth, partnerships, and campaign management. He stays ahead of emerging marketing trends and technologies.

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