TurboTax is said to be the #1-rated, best-selling tax software in the nation.  Turbo Tax Free Edition includes free IRS e-file with which you can easily prepare your tax return and file income taxes online, now that is great service.  The one catch is that you do get to try it for free, but pay when you file!  I love that entry is free, but pay at the door. 

With Turbo Tax you get 5 options that allow you to cater for your needs.  These options include:

1. Free edition  i.e., 1040EZ & Simple Returns, this is sufficient for the majority of W-2 income earners.  State taxes are an additional $25.95 per state

2. Deluxe Package priced at $29.95, for Federal Tax Filing. State taxes filing are an additional $ $34.95 per state per state.  This a great package if you own a home, if you made any charitable donation or have had medical expenses.

3. Premier Package ($ 49.95) For Investments & Rental Property.  For those who own stocks, bonds, mutual fund and/or rental properties, Turbo Tax premier offers the biggest bang for you bucks.  State taxes are an additional $34.95/state.

4. Home & Business Package priced at $74.95 for Personal &Business All in One, Federal is included at no cost. There is an additional $34.95 for filing state taxes. If you’re a sole proprietor, consultant, contractor or single-owner LLC, TurboTax Home & Business is the right fit for you.

5. Business Corporations, Partnerships & LLCs Package is priced at $109.95. Included are federal and free e-file.  The additional State filing fee is also $34.95. If you have a corporation, partnership or multi-member LLC, TurboTax Business maximize your business tax deductions is a good fit.

Advantages of Turbo Tax Cut

-Step-by-Step Guidance

-Easy to use, easy to file, with extra help

-Asks easy questions in an interview format.  Questions that are customized to your situation, puts your answers on the correct IRS forms, checks for errors  

-Includes Audit Support Center

-For the early birds, Turbo Cut gets your W-2 and 1099 data directly from over 100,000 participating employers and financial institutions and puts it in the right forms for you

-Maximizes deductions for the biggest refund   

- Transfers info from last year’s TurboTax return to this year’s (if you used turbo tax) instantly.

-Turbo tax will import your financial info from Quicken® , Microsoft money, quick books to save you time

-Uncovers deductions for rental property 

-Provides guidance for investments 

-Provides guidance for self-employment income

A great tax preparation software is one that is thorough and easy to use, even for complex returns. That is what Turbo Tax offers.  It is a powerful, fast, accurate, easy to use piece of software. The program is well organized and everything is written in terms that everyone can understand.

Cons of Turbo Tax Cut

As with any piece of software, you can anticipate bugs and glitches.  Don’t make the mistake of buying or getting boot-leg copies. Viruses are plenty and now is not  time to try and cut corners.