Overview
Not only is TurboTax 2014 the most user-friendly tax software available on the market, it's also the most diverse, with personalized software that comes in many variants, for those who use the simple EZ return or process complex business tax forms. There are couple of different options for users, depending on whether they want to purchase the software for Windows or Mac, or use the more innovative online interface. Most people today opt for the online software because it is more secure than the average user's computer, has more flexibility, provides the same results that the software offers, typically at a lower cost, and doesn't require installation. Whether you choose the software or the online program, though, selecting the correct version is key to getting the most out of your filing experience, for the largest possible tax refund.
Single Filers
In most instances, if you are a single filer and you don't own property or a business, the best software is the Free Federal Return offered by TurboTax. This free return is perfect for first time filers, or young professionals who don't yet own stock or property, and don't have children or other large tax deductions. If you are a college student, this is definitely the perfect software; it'll get you all the money you owe back, without asking too many questions or delving too deep into deductions that aren't relevant to your circumstances. If your state requires that you file for taxes, which most states in the US do, you can file for your state IRS refund with this version as well, at an additional cost of about $30.
Parents and Homeowners
To maximize your deductions and get the most money back to support your household, choosing the TurboTax Deluxe software is the best bet. It guarantees that you'll get all the money back that you deserve, and costs significantly less than the average financial or tax preparer, at only $59.99 for the year. TurboTax 2014 will also save you time by importing your tax information from last year. So if, like most parents or professionals, you've had the same job for the last few years, you won't have to input your W2 and business code again and again. Even beyond that, TurboTax can import W2s and 1099s into your software for you from over 400,000 businesses and institutions, saving you time and reducing the amount of paperwork on your desk.
Investors and Property Owners
TurboTax offers a Premier option, for those who own investment and rental properties. With this software you can get an extra 10% back on your tax return, as well as covering the sale or purchase of stocks and bonds. It also handles potential mortgage deductions, and covers rental property taxes, so you can finish all your taxes at once. Selecting this option means convenience and ease of use when completing your taxes. What was once a complicated procedure, typically involving an accountant or tax professional, is now a step by step process that walks property owners and investors through their typical income tax (from a salary or otherwise), and then ensures maximum deductions through software specialized to ensure that investors pay the appropriate amount while not over-paying for their properties and investments. TurboTax also ensures coverage in the case of an audit, which is ideal for those in more complicated financial situations.
Home and Business Owners
Similar to the Premier software, but with a few other perks, like small business income and expense reporting and business tax deductions, this software is perfect for business owners who need to an easy way to handle their deductions. For only $99.99, this software is an amazing deal for business owners, whose tax returns are more complex than the average person's. And because this is a software created by tax specialists, you get the same expertise that you would with an accountant, as well as 24 hour help services, through online chat and video.
The Added Advantage of Using TurboTax
Beyond the advantages that are diversified for all possible IRS returns, TurboTax offers up to 350 deductions for students, parents, charitable donations, and beyond. For added peace of mind, they cover you in case of an audit, and are the first to notice if information seems incorrect before you file. Unlike sitting at the kitchen table and using a calculator, TurboTax guarantees the accuracy of their calculations, and allows you to donate some of your tax return toward a selection of charities before filing. In short, this software is amazing, useful, and goes above and beyond all others to assist their taxpayers.