TurboTax Free Edition

TurboTax Federal Free Edition

• TurboTax Free Edition

Who is TurboTax Free Edition Good For?

* If you have a simple return
* If you do not need much guidance when filing your taxes
* If you are single
* If you have no children
* If you need to file a 1040EZ

This product cannot import 1099s ors W-2s. To get this ability, you’ll need to upgrade to TurboTax Basic.  If you want additional guidance for maximizing deductions, you’ll need to upgrade to TurboTax Deluxe.

TurboTax Deluxe

TurboTax Deluxe

• TurboTax Deluxe

Recommended For Returning Customers (imports last years tax return)
Choose TurboTax Deluxe if any of the following apply to you:
* Own your home or sold your home
* Made charitable contributions
* Had a lot of medical expenses
* Had education expenses

If you own a home, made donations, or have medical expenses, TurboTax Deluxe will easily get you every tax deduction you deserve.

Pros:
* All editions include all forms
* Works on 64-bit versions of Windows XP and higher (of course that includes Vista and Windows 7)
* On Jan 8th, I used it to help compute an estimate of the tax I will owe for 2009 to help determine what to pay for my last 2009 estimated tax payment and the program did not crash.
* I had a “flawless” install and update on Vista 64-bit – didn’t ask for any serial or reg code
* Probably the best tax program there is
* Price includes federal E-File
* Deluxe version can do a Schedule C for the self-employed – but it doesn’t provide as much guidance as the Home & Business edition

Cons:
* Not perfect (but how can US taxes ever be perfect)?
* Annoying “smart” input entries that try to format things like dates while you’re still entering them
* Confusing handling of SEP contributions
* Have encountered bugs in previous years that caused me to have to delete and re-enter assets
* Might take up to 1.12GB of HD space on Windows according to the system requirements

TurboTax Premier

TurboTax Premier

• TurboTax Premier

Turbo Tax Premier 2010 Edition is a great choice for you, if you -

• Buy and sell stock, bonds or mutual funds
• Own and Manage Rental Property
• Own your own small business

TurboTax Premier Maximizes personal and investment deductions, if your an investor, you know there are a lot of ways to save on your taxes with proper planning.

TurboTax Basic

TurboTax Basic

• TurboTax Basic

Who is TurboTax Basic Good For?

* If you have a simple return
* If you do not need some guidance when filing your taxes
* If you need to import a W-2 or 1099
* If you are single
* If you rent or own a home but don’t have a mortgage

If you want additional guidance for maximizing deductions, you’ll need to upgrade to TurboTax Deluxe.

Asks Easy Questions, Tailored to You
Guides you step by step through your tax return, then puts your answers on the right tax forms for you, including 1040EZ, 1040A, and 1040. Skips interview questions that don’t apply to you, so you can finish your return faster.

Improved Automatically Fills in W-2 and 1099 Info
Gets your W-2 and 1099 data directly from over 100,000 participating employers and financial institutions and automatically puts it in the right tax forms. A brief summary lets you review and edit downloaded information if necessary.

Improved Transfers Last Year’s Tax Info
No retyping necessary. Fills in information from your previous year’s return to save time and increase accuracy. Shows you what you’re importing and where it goes in your return. You can also import from other tax software including TaxACT and H&R Block’s TaxCut.

Imports Your Financial Data
Imports information from your financial software (including Quicken, QuickBooks 2007 and higher, and Microsoft Money) so you can skip the cut and paste this year.

New Makes it Easy to Hold Your Place
Flag areas in your tax return so you can get back to them easily.

Provides Help When You Need It

Live Tax Answers
Get live answers online from TurboTax experts and other TurboTax users in our Live Community2. Plus you’ll have instant access to answers to commonly asked tax questions on every screen.

Straightforward Guidance & Advice
Find help on any tax topic from anywhere within TurboTax. Get plain-English explanations of specific tax areas and helpful examples when you need them.

Life Events Expert
Explains how changes in your life, such as purchasing a home, changing jobs or becoming a parent, will affect your taxes so you can prepare your return with confidence.

Guide Me
Not sure how to answer a tax question? We’ll guide you to the right answer, making your taxes even easier.

FREE Technical Support
Got a software question? No problem! Get answers from a TurboTax expert via e-mail, phone, or live chat.

Spots Errors and Shows How to Fix Them

New Smart Check Scans for Mistakes
Smart Check double-checks your return for errors, so you can be confident your taxes are done right.

Guaranteed Accurate Calculations
If you should get hit with an IRS or state penalty or interest due to a TurboTax calculation error, we’ll pay you the penalty and interest.

Keeps You Up-to-Date with the Latest Tax Forms
With a single click you can check for updates each time you start to ensure your return includes the latest IRS and state tax forms. No more disruptions while you work on your return.

Get Your Refund Faster with Included Federal Efile

Shows Your Tax Refund in Real Time
Watch your refund add up as you complete your return. Our Dual Refund Monitor constantly displays and updates both your federal and state refunds (or taxes due) as you complete your federal return.

Federal Efile Included
Get your refund in as few as 8 days with efile and direct deposit. Free federal efile is included with TurboTax at no extra charge. If you’re a returning user, we’ll automatically transfer your efile information from your previous year’s return to save you even more time.

Plus, includes these helpful features to make doing your taxes even easier:

Search Topics or Forms
Looking for a specific form? Just type in the name of the form and TurboTax will take you to it.

Compares Sales Tax vs. State Income Tax Deduction Savings
Shows you which tax deduction will get you the biggest savings: sales tax paid or state and local income tax paid.

Takes the Confusion Out of Vehicle Registration Deductions
Tells you if you can deduct vehicle registration costs and how to take the deduction.

Summarizes Your Tax Situation
Compares this year’s return to last year’s return and shows you how your numbers compare with the U.S. average, so you can rest assured your taxes are accurate.

Explains AMT and How to Avoid It
Gain a better understanding of the Alternative Minimum Tax (AMT) and how it affects your bottom line. Learn why you may be subject to AMT and how you can avoid it in the future.

Helps with Education Credits and Deductions
Tells you who qualifies for education credits, which expenses are deductible and how to save the most money.

Handles Social Security and Other Types of Income
Provides extra help for entering Social Security income, Disability income, Supplemental Security income, and dependent’s Social Security income.

Simplifies Estimated Tax Payments
Explains how estimated taxes work and tells you if you need to make estimated quarterly payments.

Risk Free
Not sure Basic Edition will cover your unique situation? Start anytime and we will prompt you if another TurboTax program may be better for you. When you upgrade, the info you’ve already entered so far will transfer automatically.

Guides You Step by Step Through Amending Returns, if You Need To
TurboTax makes it easy to amend your return. Need more time? You can submit an application for a filing extension with just a few clicks.

TurboTax Basic Includes These Tax Forms

TurboTax takes the worry out of deciding which forms you need to file. Just answer simple questions and TurboTax fills out the right forms for you.

Most Commonly-Filed IRS Tax Forms and Schedules

Other Tax Forms and Schedules

Choose Security. Choose TurboTax.

TurboTax is dedicated to protecting your personal and financial information. From the most advanced technology to our dedicated Privacy Team, we have you covered.

In fact, TRUSTe, the leading Internet privacy seal-of-approval, named Intuit as one of three Most Trusted Companies for Privacy for 2007.

Our Site Is Tested Daily for Security
To support our commitment to protect your confidential data, the TurboTax Web site is tested and certified daily by the third-party McAfee HACKER SAFE Security Scan, an industry leader in Web site security.

Only You Can Access Your Return
TurboTax Online requires a unique log in. Once you create your username and password, your tax return is guarded. Rest assured that you have complete control over who sees your personal information.

TurboTax CDs and downloads store your information right on your computer. You can choose your own password to protect your personal information.

Your Information Travels Safely
Your TurboTax session is secure. TurboTax Online shields your personal information from prying eyes while you’re completing your return.

TurboTax uses the same encryption technology used by banks to efile your return. This means that your information is protected from any unauthorized access while it’s electronically sent to the IRS and state agencies.

Our Commitment to You
Armed with surveillance cameras and security alarms, the TurboTax Security Team physically protects our computers and your information–24 hours a day, 7 days a week.

Our Privacy Team’s only job is to guard you and your information. If you feel the least bit uneasy, ask the Privacy Team about their commitment to your protection.

TurboTax Home & Business

TurboTax Home & Business Edition

• TurboTax Home & Business

Choose TurboTax Home & Business Edition if any of the following descriptions apply to you:

• You are a sole proprietor, consultant, 1099 contractor, or single-owner LLC
• You receive income from a side job or self-employment
• You prepare W-2 and 1099-MISC forms for employees or contractors
• You file your personal and business taxes together

If you own an S Corp, partnership, C Corp, or multiple-owner LLC, you should choose the TurboTax Business Edition.

TurboTax Home & Business can help;

• Guide You Step by Step Through Self-Employment Income, Deductions and
  Credits
• Guide you through customized questions based on your business profile (sole-proprietor, consultant, 1099 contractor, and single-owner LLC)
• With guidance for entering income and expenses.
• Find Small-Business Tax Deductions — Shows you which expenses you can deduct for your vehicle, supplies, utilities, home office expenses, and more.
• Identify Industry-Specific Deductions for your business — find tax write-offs by industry to help you spot commonly overlooked deductions.
• Get the Biggest Vehicle Deduction — Find the biggest deduction using actual expenses or the standard mileage rate. Split vehicle expenses between business and personal use.
• Enter all business income types on a single page.
• Create W-2 and 1099 Forms — Helps you prepare unlimited forms for employees and contractors. Does all calculations and prints on plain paper.
• Simplify Asset Depreciation — determine which depreciation method will get you the biggest deduction, calculate and report depreciation.
• Streamline Expense Entry — Organize expense categories and get additional tax deduction suggestions along the way to help maximize your savings.
• Get Extra Guidance for New Businesses — Shows the startup deductions new businesses can take.

TurboTax Business

TurboTax Business

• TurboTax Business

If your answer is yes, then, Intuit TurboTax Business Edition is the best tax solution for your tax filing needs.

TurboTax Business Will Help You;

* Claim all the business deductions and credits you can qualify for, including commonly overlooked deductions specific to your industry. A customized interview process provides extra guidance for different types of business to simplify tax preparation and maximize tax savings.
* Simplify Entering Income and Expenses, no matter how you track them. If you have a Profit & Loss statement, TurboTax can streamline data entry so you can quickly enter all your income and expenses and catagorize where neccessary.
* Saves time by transferring previous year’s data, including all depreciable assets, to your new TurboTax Business return.
* A year-over-year comparison lets you compare previous year’s returns to provide extra review and guidance.
* Creates W-2 and 1099-MISC Forms, prepare forms for employees and contractors. Does all calculations and, there’s no limit on the number of forms you can prepare.
* Handles Multiple businesses, lets you prepare returns for multiple businesses, even if they are different entity types. Get Extra Guidance for New Businesses — See which start-up costs new businesses can deduct.
* Maximizes business deductions for vehicles and supplies, helps you find more write-offs by industry.
* Provides Fast IRS Confirmation
* Efile quick and easy. Federal efile is included with TurboTax Business.

Here’s Why TurboTax Business is the easiest choice for you …
TurboTax Business is a easy to use do-it-yourself business tax software product. It covers your federal business tax return for:

* Multi-Member LLCs (Form 1065)
* Partnerships (Form 1065)
* S Corporations (Form 1120S)
* C Corporations (Form 1120)
* Estates and Trusts (Form 1041)

TurboTax Business works best if your small business:

* Is an S Corporation, C Corporation, partnership, or multi-member LLC
* Has revenue of less than $250,000
* Has fewer than five employees

Sole proprietors, consultants, 1099 contractors should use: TurboTax Home & Business.

File Free Tax Extension with FreeTaxExtension.com

FreeTaxExtension.com offers you to file your tax extension online 100% free.

Tax Software 2009, 2010 Rankings

Several factors were used to determine the order of the following list. Price, ease of use, and additional hidden fees are the most important. Also considered, but less important, are: layout, research, audit services, and support.

1.) TurboTax: Depspite they have name recognition and charge heavy for it Intuit also offers TurboTax Federal Free Edition software, which is excellent.

2.) TaxAct: Low cost and ease of use cannot trump the multiple efforts to add to your preparation bill.

3.) RapidTax: Low cost, ease of use and the opportunity to file previous years played in ranking RapidTax third.

4.) TaxSlayer: Low cost is TaxSlayer’s biggest benefit. Concern over the software quality reduced the ranking a notch. Lack of a firm audit protection program hurt, too.

5.) EZTaxReturn: The opportunity to earn money on referrals coupled with reasonable cost is EZTaxReturn’s biggest advantage.

6.) TaxBrain: High cost, but a compelling audit protection program. Doubtful TaxBrain will pay many tax assessments from an audit.

7.) CompleteTax: Average program and fee is a little high, but nice financial calculators and research resources.

8.) TurboTax: The two biggest are also the biggest disappointment. TurboTax is cheaper than HRBlock/TaxCut, but still has a very high price with invasive attempts to add to an already bloated fee. They have name recognition and charge heavy for it. Software is excellent if you have the time to wade through the endless sales pitches.

9.) HRBlock/TaxCut: Easily the worst tax preparation offer on the Net. Their price is so high you are better off visiting a local CPA and having it done for you. The effort to add to the already high bill adds more time to your tax filing effort. Solid program if you don’t throw your computer out the window first. Name recognition allows HRBlock to charge the way they do. Not worth the headaches or cost.

10.) 1040.com Ease of use, low cost, and no hard-sell on bank products, makes 1040.com the best. They don’t advertise. They are supported by a network of over 28,000 professional tax preparers nationwide.

EZTaxReturn Pros and Cons

Pros: Easy to use for those with little or no tax knowledge. Free newsletter and audit alerts. Referral program offers your friends $5 off their preparation and a $10 referral fee to you.

Cons: Very basic software. They brag that you need no tax knowledge which is never a good idea when filing taxes. Online resources are thin. Cost for federal and state is $39.95. They also sell fill-in forms for $19.95; they are free at the IRS website, www.irs.gov.

CompleteTax Pros and Cons

Pros: Free file available for simple returns. GainsKeeper compatible. Tax resources, financial calculators, tax news and alerts are nice additions to their services.

Cons: Difficult to navigate and overpriced at $49.95, plus $24.95 for a state return.