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TurboTax

TurboTax is the easiest product we’ve reviewed to use no matter what your financial situation. TurboTax offers exceptional help resources, thorough explanation of tax laws and can handle complex portfolios – it earns our “Gold Award”.
TurboTax is an all-in-one package that can take care of all your federal and state efiling needs. The software includes extra features like investment and IRA advice as well as Sole Proprietorship and Rental Property guidance, FIFO reporting, multiple investment entries, average cost reporting and more.

Intuitive Navigation:  
TurboTax has one of the best navigation systems of all the  tax preparation software we’ve reviewed. The navigation is simple and intuitive – it allows you to easily jump from section to section and is easy even for novice computer users. TurboTax groups related items together and asks you which apply to you – this saves you time answering “no” to multiple questions.
TurboTax also allows you to automatically import your W-2s from participating employers.

Novice-Friendly:  

TurboTax software is intuitive and the explanations are simple. The process is linear and you can always go back and make corrections – if you don’t know the answer to a question, the extensive Help section will guide you. TurboTax continuously checks your return for errors or missed deductions and can advise you on how to further maximize your deductions. TurboTax also provides personal professional tax advice for an additional fee.

Ease of Installation/Setup:  
Setting up an account with TurboTax was very easy.

Feature Set:  
TurboTax includes every feature we look for in a tax preparation product.
Beyond basic tax preparation assistance, TurboTax also offers a variety of useful features including:

• Audit Defense. Should the IRS contact you, TurboTax will explain your risk (or lack thereof) and show you how to best respond. TurboTax guarantees 100% accuracy of calculations.
• Year-to-year Deduction Comparisons
• Direct Deposit of Refunds. When you file electronically, you can receive your refund in as little as 8 days.
• Quick Entry/Import for Investments. Import your investment info directly from your financial institution, including Merrill Lynch and Ameristar.
• Cost/Basis Expert Assistance
• 401(k) Maximizer will boost your 401(K) contribution without hurting your paycheck. Choose to put your refund into your 401(k) plan and watch your interest grow.
• Deductions/ Credits Guided Interviews
• Error Checks
• Tax Library
• Medial Expense Expert: If you qualify for medical expense deductions, TurboTax will do the math and advise you.
• Electronic Filing with Confirmation of Receipt
• Guidance for Report Sales of NQSOs, ISOs and ESPPs.

TurboTax allows you to compare different tax scenarios and plan for future tax seasons. The product can evaluate different aspects of your financial situation and allow you to evaluate all your tax choices.

Help/Documentation/Search:  
TurboTax has an extensive help section – better than any other product we’ve reviewed. Audio and video explanations help you to understand certain tax concepts and tax law changes. TurboTax also offers help with topics such as the sale of stocks and bonds, rental property deprecation, and retirement planning.

Summary:  
TurboTax is very easy to use and helps to you optimize your tax return and retirement options. It has consistently been the best tax preparation software on the market. TurboTax receives our GOLD award.

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