By: Intuit Inc.
TurboTax is a tax filing software created and developed by Intuit, Inc., a software company founded in 1983 and based in Mountain View, California, USA. The company has developed various financial software that helps people to manage their finances properly, including tax filing software, accounting software, and budgeting software. The mission of the company is to power the users with prosperity by giving them the tools necessary to take control of their finances.
There are various tax filing services that are offered by TurboTax, and these services are used for different types of taxpayers. The good thing about this software is that it offers the users the step by step instruction to pick the right tax service that is most suitable for their tax profile. Of course, if you don’t have a business or a job, you might only need to pay some simple taxes to the government, which is different from the taxes paid by the people who have a business, a job, or investments. This software offers you different plans that you can use according to your need, which, if you want to use only the basic features, you can use the software completely free of charge.
This tax filing software has a good feature that is called CompleteCheck, which is the feature that allows you to ensure that all the information that you put on the software is correct and accurate. Before submitting the information to the IRS, you need to ensure that you have filled in an accurate information about your taxes, and this feature helps you to check your information comprehensively before you submit it to the government. It ensures that you are not missing any important information, as well as ensure that you get the maximum tax return later.
With TurboTax, you don’t need to fill up your W-2 Form manually to the software. Instead, you just need to capture the W-2 Form that you have, so that you can fill your information automatically into the software. You can do it by using your smartphone or tablet, which you can use to scan the form and save the scanned image. Then, the software extracts the information from the scanned image to fill up the W-2 information for you automatically. You just need to do it with a single touch.
This software offers a special plan that can be used by taxpayers that have investments and rental property, in order to pay their taxes more accurately. Sometimes, it might be difficult and complicated for you to simply calculate the taxes that you need to pay when you have a lot of investments and rental properties to manage. Thus, this software gives you the advantage of calculating your tax more accurately by including all of your investments and rental properties in your calculation. This includes related deductions that you can make from your rental property. It also deals with stocks, ESPPs, bonds, and other types of investments.
TurboTax can also be used by self-employed people to take care of their personal income and business taxes, In fact, the plan for the self-employed people includes all the features that this software can offer to you. It helps you to calculate your personal and business income in one convenient application, including the investments that you have made. This also includes a variety of deductions that can help to lower your tax amount, including deductions for your phone, vehicle, home office, and more. It also has an integration with QuickBooks to help you track the expenses and mileage in your business.
If you want a comprehensive tax filing software that you can use both as an online application or desktop application, then TurboTax can give you the features that you need the most. With this software, you can do more than ensuring that you are paying your taxes accurately. It can also help various types of taxpayers to benefit from various deductions that they can get to lower their tax amount. You can also be able to get the maximum tax return from the IRS, and get it quicker than the traditional method of tax filing. Overall, this software is recommended for various types of taxpayers to handle their tax filing work in a smoother and more convenient way.