TurboTax was first launched in 1980. Since then, it has become the most popular tax preparation software in America. This popular software is available for both Mac & PC users. Mobile users can also use this software by installing a few required apps. TurboTax is designed for both federal and state income tax returns. It comes in different versions for different reasons. Each version has different features to fulfill different market requirements. It also has a free version available. In this article, we will discuss different versions of TurboTax.
Features of TurboTax:
1. TurboTax calculates all business costs, travelling expenses, vehicle & advertising costs to make sure you only pay the minimum taxes.
2. 100% accurate calculation.
3. You can handle multiple businesses, even if they are entire different categories/types. Federal e-files are attached to avoid paper filing.
4. TurboTax helps you identify industry specific deductions to calculate commonly overlooked expenses. You can find new tax saving strategies for your business. TurboTax reviews your largest investments/assets to find the best tax saving strategy for your business.
Now, you can stay confident about your taxes. TurboTax double checks your taxes for any errors or un-certainty options. Any time, if you face a state penalty or IRS, TurboTax management will cover all penalty costs/interest fees. You will receive alerts when, there is a risk of an IRS audit. Trained tax professionals are available to help you when you want. You can easily get help from a TurboTax professional on Skype/phone. You can also import your profits & loss statements which will be entered into appropriate tax categories for your business.
Features of TurboTax Basic:
1. TurboTax is designed to offer step by step guidance to every user. Basic version comes with an added support system. You can also transfer your data from other tax preparation software. Basic version offers a 5% bonus on all of your federal refunds. You can easily file your federal and state tax returns.
2. Easy access to all completed TurboTax returns.
3. Excellent customer support by live chat and phone.
4. 100% accurate calculations are guaranteed.
Features of TurboTax Premier
TurboTax premier helps you save money. This version is designed to calculate taxes related to investments and rental property. TurboTax has a real-time update feature for all recent law changes. It also calculates cost basis for stock sales. TurboTax premier also gives a 5% bonus on federal tax refund. This tax preparation software will help you about best rental depreciation method and you will receive guidance about all new rental properties.