TurboTax

TurboTax takes the guesswork out of filing your taxes, and guarantees a maximum refund or your money back across all five of its tax services.

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8.2
Grand Score
8
User Score
8.2
Grand Score
8
User Score
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Tax preparation is confusing no matter who you are or what your age. That said, TurboTax attempts to streamline the process by offering afree version to get you started, with options for paid software later if you need the added assistance. All of the company’s offerings come with a 100% accuracy guarantee, as well as a maximum refund or your money back warranty.

Grandfolk Scoring
Cost 9/10
Warranty 10/10
Ease 9/10
Cancellation 10/10
Customer support 8/10
Restrictions 10/10
Discounts 8/10
Disbursement options 9/10
Security 10/10
Cost
One-time fee
$0-$149.99
Warranty
Is the service guaranteed?
100% Accurate Calculations; Maximum Refund or Your Money Back
Ease
Is the service easy to use?
Yes, start for free and pay later
Cancellation
Cost or difficulty to cancel?
No difficulty
Customer support
Ease of access
Email and telephone service with paid versions
Restrictions
Are all State and Federal forms available?
Yes
Discounts
Does the site offer discounts?
No, but some are offered from AARP and VITA
Disbursement options
How can I get my refund?
Direct deposit, prepaid card or check
Security
Is the software secure?
Yes; web-based and desktop-based
Age Score:
8
50-65 Years
8
65-75 Years
6
75-85 Years
9
85-Above

TurboTax was the only reviewed provider that specifically commented as to whether or not seniors had to file taxes. That said, there is no specific age when one has to stop paying taxes so much as there is a specific amount of income from Social Security that must exceed more traditionally earned streams of revenue. 

Seniors would be wise to search the free AnswerXchange FAQ platform to see whether they need to file, as well as to investigate what version of the software is best for them.There may be cheaper options for those still earning a significant portion of their income through property management or ongoing investments.

Health Score:
8
Great Health
8
Good Health
6
Fair Health
4
Poor Health

There is no significant health benefit to using TurboTax to file taxes over any comparable service. That said, if you have difficulty manipulating software or uploading documents, then TurboTax is certainly going to be a challenge.The company has no physical locations, and only offers assistance on its paid products. Additionally, there are cheaper options for filing taxes if one receives the vast majority of their income through work-related activities and not from Social Security.  

As a friendly reminder, there is no age limit when one has to stop paying taxes so much as there is a specified portion of gross income that must fall below the annual threshold in order to make you eligible for an exempted status. Therefore, be sure you know if you are eligible or not.

Pros:

  • Most seniors receiving Social Security will qualify for the free version.
  • Automatic W-2 uploads make filing hassle-free.
  • Tax assistance is available with all paid versions of the software.
  • TurboTax supports all state tax forms, as well as federal tax forms.
  • The service comes with a free refund calculator.

Cons:

  • TurboTax does not provide representation in the event of an IRS audit.
  • Seniors who are still earning income in excess ofSocial Security will more than likely need to upgrade to a paid version of the TurboTax software.
  • TurboTax charges for the packages that aid most with property and mortgage-based deductions.
     

Bottom Line:

TurboTax offers an entire suite of tax-preparation services that fall within five easily distinguishable categories: Absolute Zero, Deluxe, Premier, Self-Employed and Live. Each product builds on its predecessor and covers all seniors (from those still running small businesses to those who do not need to file at all). The software is available both online and off, which should appeal to those on the go, as well as the consumer just looking to get the biggest refund on their taxes. 

TurboTax is a great option with its maximum rate guarantee and 100% accuracy warranty.

Frequently Asked Questions:

How long are my files kept on record?

This is a paid-for feature under the Deluxe, Premier, Self-Employed and Live versions.

Can I use my refund to pay my filing fee?

Yes, but again, only with the Deluxe, Premier, Self-Employed and Live versions of the TurboTax software.    

Can I visit a physical location?

Not for tax-filing, but the Live version of the software features an on-demand CPA or EA in the event you need one-on-one assistance
 

More Information:

Product Details

Overview:

TurboTax takes users through the free version, which automates the W-2 process by inputting all key data into a 1040EZ or 1040A tax form. From there, however, the service becomes package-specific. 

Package Details:

TurboTax has five distinct packages: Absolute Zero, Deluxe, Premier, Self-Employed and Live. The first is the most basic, with easy prep, print and e-file instructions after nothing more than uploading a photo of your W-2. The first paid-for version is Deluxe for $49.99. This version aids filers that have mortgage and property tax deductions, or who have made charitable contributions throughout the year. 

Premier, the next package, costs $59.99. This offering helps those who have a myriad of investments and rental properties. The self-employed option is $89.99 and helps seniors who may still be working in a part-time or side business capacity. Live, the final offering, costs $149.99 and gives the user added peace of mind by providing CPA or EA advice on demand, as well as a final review.

Optional Accessories or Add-on Services:

TurboTax is available both online via a web browser and offline via desktop software.

Additional Company Details

Contract Details: It is important to note that telephone support is only available on paid copies of the software, such as TurboTax Deluxe or TurboTax Premier. Customers should also understand that even if they initiate their filing using the Absolute Zero package, they may still need to pay in the event they need help from a CPA or EA. This last option costs a rather steep $149.99.

Warranty:  TurboTax guarantees a maximum refund after a complete 100%accuracy guaranteed check or your money back.

Accreditations:  While TurboTax is not rated by the Better Business Bureau, the software does receive a mixed review each year by ConsumerAffairs.com.

Company Details:  TurboTax began life as a tax preparation software package in the mid-1980s known as Chipsoft. This entity was acquired by Intuit, Inc. in 1993. It took the parent company’s name, and began to offer an entire suite of products, including TurboTax Deluxe and TurboTax Premier.

Contact: 

Intuit Inc.
2700 Coast Ave
Mountain View, CA 94043-1126
Tel: 650-944-6000
Website: https://ttlc.intuit.com

Kate Papenberg - Senior Advisor

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