Turbo Tax is a gigantic tax industry that has paved the way for online tax programs everywhere. This company is trusted by a vast population and nearly no one has a problem with the Turbo Tax service because it does what it’s meant to do but is it worth the trouble for you?
What Turbo Tax Deluxe does?
Turbo Tax Deluxe is Turbo Tax Home but for the freelancers and those that receive 1099-MISC. The Turbo Tax Premier program costs $49.99 to begin with and that’s not including taxes. 1099-MISC are received after the freelancer has reached $600.00 with a single client. Any other income is reported as extra income and does not require anything special.
How problematic is Turbo Tax Deluxe?
Turbo Tax Deluxe is actually very problematic if you’re trying to squeeze every penny out of owing the government because unless you pay estimated taxes or have a child, you will owe taxes. The problem with Turbo Tax Deluxe is that it doesn’t tell you important facts that are vital for filling out taxes; like 1099-MISC are less taxed than extra income, even if you do not receive a 1099-MISC but you know that you should, you should fill out as many 1099-MISC’s as you can.
How easy is Turbo Tax Deluxe and what do you get with it?
Turbo Tax Deluxe becomes more difficult to contend with the more information you add to it. A horrible glitch that the software as is that when you enter a vehicle under your deductions and then remove the car, the car will still be there; forcing you to restart entirely.
While it may cause you problems, it does provide you with every deduction that the government has to offer. This allows you to inventory what you can and can’t deduct without having to worry about whether or not you missed out on a deduction.
In addition to this, if you like and stick with the Turbo Tax Deluxe, the Turbo Tax Deluxe will keep all of your previous tax preparation files done through Turbo Tax Deluxe. This means that if you get audited without the audit protection that they offer, you will have all the files that you need in order to protect yourself because they’ll be stored in an online database.
Turbo Tax Deluxe is very good for freelancers that provide a single service with very few deductions; otherwise it’s best to just do the tax preparation on paper.