2013′s tax season is upon us again. I know that most of us can’t help thinking about how we can get the most tax refund when filing our taxes. This year’s deadline for filing your federal tax return is April 15. Although there are still a few months left before tax returns have to be submitted, the tedious process of getting your yearly spending in order might already be haunting your mind.
TurboTax, the best-selling tax software in the US, offers a low-cost step-by-step guide to file your taxes on your own, with a maximum refund guaranteed. This way you won’t have to pay the tax office a high price to do it for you, without knowing if your savings will be maximized.
Since saving money is one of the main concerns we have when filing our tax returns in order to receive the highest refund, it makes sense that we should also choose the cheapest and best option for our situation.
Although many of us have probably let the tax office do our tax returns for us at least once in our lives, the need for saving has increased, and I have discovered that TurboTax is in effect a cheap, fast and easy way to file tax returns on our own.
TurboTax has a few software editions depending on the individual, taking into account the amount of investing, if you have a family and so on. All versions are easy to use and offer a step by step guide to fill out the forms. What’s more, TurboTax guarantees that you will get your money back if you get a bigger tax refund with another tax preparation method.
I have compiled a list of the 3 most common TurboTax software editions for you to be able to browse through them, find which category you fit into, and finally make a decision as to which one you should choose, in case you decide to file your own tax return this year.
Free Edition. This version is mainly for those of you who are single, don’t invest much and have only one source of income. You will receive a free e-file and can also enjoy free technical assistance by phone if you need any help while filing your taxes. This version includes the 1040EZ, and you can import the information from last year’s tax return to save time. If you wish to file your state tax with this free edition, it costs only $27.95 per state.
Deluxe. This version is recommended for those of you who are married, have children or dependents, give donations, own a house or property, have many medical expenses and those who engage in mild investing. Along with a free e-file, you will also receive the most accurate and highest deductions, including those on your donations, and you will be alerted for audit risks.
Premier. This version is mainly for those of you who own and rent properties, own bonds, stocks or mutual funds and those of you who invest a lot. This is an easy way for you to calculate your gains and losses on your investment, and helps you file the highest deductions on your taxes so as to give you a higher rebate. It includes a free e-file.