Is the Turbo Tax Estimated Taxes Product Worthwhile?

April 6, 2007

I received an email from Intuit today notifying me of a service they provide called Turbo Tax Estimated Taxes that is supposed to be a “quick, easy, and accurate way to calculate and pay your quarterly estimated taxes online”. I’m just now getting ready to make my first estimated payment for my small business and would love something that makes the process quick and easy. The features of the Estimated Taxes tool are:

1) Sends e-mail reminders
2) Calculates your payment
3) E-files and provides IRS confirmation
4) Keeps records and summary report

One thing I’d worry about with an automated payment of taxes would be if the payments weren’t made or too little was paid. According to Intuit, if you “pay an IRS penalty or interest because of a TurboTax Estimated Taxes calculation error” then Intuit will pay you back for the penalty and interest.

They are offering a free trial of the service for one year so I’ll probably sign up and give it a try. After the trial expires it is $29.95 for a 12-month subscription which includes free e-filing. Has anyone else used or heard about Turbo Tax Estimated Taxes? If so, what do you think of it?

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Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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2 Responses to Is the Turbo Tax Estimated Taxes Product Worthwhile?

  • Wealth Building Lessons

    probably worth it if you’re selfemployed.

  • Gilad

    I think TurboTax is very good,It really is “quick, easy, and accurate way to calculate and pay your quarterly estimated taxes online”