In order to produce the podcast and keep content up free for you, I work with partners so this post may contain affiliate links. Please read my full disclosure for more info.
Filing Our Taxes Online with TurboTax
We've been using TurboTax to handle our family's tax needs for the last couple of years and we've been very happy with them. Last year I used the online filing option and it was perfect for us. We could login to account work from where ever we were and continue our tax filings at our convenience.
Easy to Use; Easy to File
Since we've used turboTax before, when we logged into our account to get our taxes started, the program already had much of our basic information (such as name, address, and jobs) in. It was a matter of adjusting some details, the biggest one was becoming parents last year.
I've found TurboTax extremely easy to use with its interview approach to getting information in for your taxes. It’s a completely guided walk through – the questions were clear and getting the data entered was quick
Getting the Paperwork in Was a Snap
With having to get our family's taxes done along with my LLC, some may think it took a lot of time to get the numbers into the program, but it was a snap with TurboTax. As we receive the paperwork, I enter into the system, including:
- W-2s from your job(s)
- 1099-DIV: Dividends
- 1099-INT: Interest Income
- 1099-MISC: Miscellaneous Income
Most of our expected forms have already came in, but I'm still waiting on a couple more 1099s to arrive so we can finish it up. Once we complete our federal, TurboTax can easily transfer our information from the federal tax return to my state’s return.
TurboTax Scours To Find Tax Deductions and Credit You Qualify For
TurboTax really combs through the all the possible deductions and credits for your return including your house, family, cars, charitable donations, medical expenses, college and education, and more.
Tax deductions reduce your taxable income, not the tax burden that you owe. Tax credits lower your tax bill.
TurboTax's Live Community – A Resource Worth Checking Out
Turbo Tax did a great job creating and managing the Live Community. Live Community is a wonderful resource that allows you to get the answer you need on many common tax questions. Tax experts are moderators, checking to make sure the answers are correct so you’re given up to date information.
We had to use it a couple of years ago when we were looking to take the homeowners' tax credit. It was so easy to find our answer and we were able to go ahead and file properly.
Which Turbo Tax Edition Fits You?
- Free Edition: If you have a very simple tax return to file, TurboTax Free Edition is the way to go.
- Deluxe: Many people will find this a suitable option to take care of their tax deductions and credits for families and homeowners.
- Premier: This edition is designed for those who have numerous investments or if you own rental properties.
- Home & Business: Entrepreneurs with either sole proprietor, consultant, contractor or single-owner LLC business will find this edition more than capable of handling their business.
- Business: If you have a corporation, partnership or multi-member LLC, TurboTax can help you optimize your tax return.
We've been happy with TurboTax and how easy it is for us to file using their services. If you want to get started on your taxes, grab your copy of TurboTax today!
2012 TurboTax Deluxe Giveaway
Now to the best part – Couple Money would like you to file your federal taxes for free. I am giving away 2 copies of TurboTax Deluxe Online. Enter the giveaway to win one of the copies (if you win, the code will be emailed to you)!
The contest ends February 9, 2012 (11:59 PM Eastern). I’ll be drawing the winners on February 10, 2012 and will contact them. I need a valid email so I can contact you if you’re one of them. If chosen, please claim your prize by Monday February 13, 2012.
Disclaimer: I'm paying for my own tax preparation and the giveaway copies are provided by TurboTax, so if you win, please tweet them a thank you 🙂 I'm also a contributing blogger at TurboTax, so please check them out to see if they can help you with your taxes this year.
Photo Credit: 401K