TurboTax Review – 2008 Tax Software Product Review
December 11, 2008
TurboTax review video below looks at the benefits of Intuit’s latest tax filing software, TurboTax 2008. Here is a summary of the video and my experience with TurboTax.
Easy Tax Returns & Big Refunds
Intuit has two main goals with TurboTax, to make it easy to use and to get you the biggest possible refund so you’ll use the software to prepare and file your taxes again next year.
The video first addresses the refund aspect:
“Average federal refund for the TurboTax customer, $200 more than the national average.”
When you’ve finished completing your return, the TurboTax software shows a chart or graph that compares your refund to the national average. I don’t know that I was $200 higher the last time I used TurboTax but I do remember the graph showing my refund was somewhate above average.
Of course TurboTax can’t create deductions for you out of thin air, the software simply asks you the right questions to make sure you don’t miss any deductions. As the video says, TurboTax walks you through 350 possible deductions.
Ease of Use
The TurboTax review video at the end of this post suggests that you can finish your federal return in under an hour using the software. I know it took me longer than an hour but that’s because I entered my federal return while watching a college basketball game on TV so I was a bit distracted. Then I went back over it the next day just to double check everything.
TurboTax is easy to use, just make sure you gather all of your tax forms together before you get started. At that point it’s just a matter of answering the questions and entering your information.
TurboTax Software Versions
The TurboTax review video mentions that the software is:
“easier than ever for the 60% of people who have a pretty straight forward tax return”
Intuit tries to address the different needs of those people by offering different versions of TurboTax, here is how Intuit describes the right user for each version:
Free Edition – (1040EZ & Simple Returns) If you have a simple tax return, TurboTax Free Edition is the easy way to do your taxes
TurboTax Deluxe – If you own a home, made donations, or have medical expenses
TurboTax Premier – If you own stocks, bonds, mutual funds, or rental property
TurboTax Home & Business – If you’re a sole proprietor, consultant, contractor, or single-owner LLC
According to the TurboTax review video all products now include federal efile, which is nice. I actually setup a separate bank account that I use just for paying taxes electronically, that’s the account that I setup through TurboTax for my eFile.
I used the TurboTax Deluxe Edition for years, then moved to the Home and Business version once I started my eBay business. Until last year, when I hired someone to do our taxes for the first time, I had used TurboTax to prepare and file ever since we’ve been married. In my experience TurboTax does help you take all your different deductions into consideration and is pretty simple to use.
Click here to give TurboTax a try.
Click the Play button on the video below for the TurboTax overview from Intuit (Give it a minute to load):
All posts by Ben Edwards