TurboTax Review

PROS: If you are a US citizen and has a single stream of income with one W-2 form, this tool would be of huge help. But if you have more than one source of income and don’t have W-2 document, this tool may not be the best choice. It would be better if you just go to a lawyer or tax consultant or use software that can do the job.

CONS: As what has been mentioned above, this tool is helpful only to those with one source of income with one W2 forms and not to those with no W2 document. It does not allow 8949 form for Capital Loses or Gains and 1099 form, only the W2 form, and a few other forms. Also, it does not utilize crypto taxes and can be used only by US citizens.

PROS: It’s very easy to file taxes with the help of this tool. The best thing, the process becomes a lot easier every year because of the timely product updates.

CONS: My daughter once used this tool to file our taxes and it just randomly assigned audit risks even if she actually filed everything right. She was really scared about it. So hopefully, this thing will be changed.

PROS: One of the best things about this tool is that it gives you audit protection. It implements many verification measures to ensure that computations are error-free and accurate. Another great thing about it is the SmartLook feature which lets us connect with a live service expert. This is particularly helpful to those with minimal knowledge about tax filing.

CONS: It’s not for free. There’s a free trial but apparently, that won’t last long so if you want to continue using the product, you need to spend some bucks. They offer different pricing plans and the most expensive is the Home and Business.

PROS: It is simple, easy to use, ensures that the computations are accurate and free of errors, finds deductions that most bookkeepers and accountants miss, and generally makes tax filing a less tedious process. By far, with all the aforementioned characteristics, TurboTax is the best tax return filing service in the market today. I also find it important to include the ease and speed of getting refunds, thanks to TurboTax’s easy to use and accurate auto-submit electronic filing.

CONS: It’s not cost-efficient. The product becomes more costly every year. Also, they charge an outrageous amount for every state use is filling in. So right now, I’m just using free and online versions.

PROS: I don’t have much knowledge about tax filing but with this tool, I’m can handle the process with ease. It has guided me in every step of the way and the functionalities available are very easy to use.

CONS: There are various plans with different features and for different purposes. Meaning to say, if you don’t know what your business needs and just pick a random plan, you may not be able to benefit from the tool. So it’s important to get the right product for your business.

PROS: I can talk to a real accounting professional! This has been a huge help when I was filing my taxes as a self-employed for the first time. The CPA I talked to has guided me along the way. With guidance, I was able to do my taxes correctly. Aside from that, this tool makes it easy to get refunds, both state and federal. I was able to get mine just within a week. By far, I can say that Turbo Tax got an edge over its competitors.

CONS: It requires W-2. You cannot proceed with the filing without it. So if you are thinking about using this platform, better get it or else you won’t be able to take advantage of this solution.

PROS: It is very easy to navigate and offers step-by-step instructions that are easy to follow.

CONS: I think the only con of using this program would be the price. It’s pretty expensive. Also, it charges fees based on where the user is filing their taxes.

PROS: I am running a small business and don't have enough resources to hire an accountant yet. So TurboTax is really a blessing. Compared to hiring a professional to prepare the business tax, purchasing this tool is less costly.

CONS: I often find it hard to return to a section once it is completed. And whenever I have to revise a section, I have to go through various steps. It's quite time-consuming.

PROS: I have two rental properties and other business investments so my taxes tend to be complex. But TurboTax has made everything easier. It has guided me throughout the entire tax preparation and filing process.

CONS: I have been using this software for several years and I’m happy to say that I haven’t encountered any huge issue yet. Overall, I had a great experience using this tool.

PROS: The tax process which is used to be a monotonous and tiresome process becomes more manageable and easier with the aid of this tool. The process is easy to follow and it breaks down every section into itemized blocks, making it easier to concentrate on the task at hand. There’s a comprehensive review page. I am able to highlight the aspects that I’m not completely sure about so it’s easy to find and review them again. There are also tips and guidelines which explain why things are done in certain ways. Overall, this tool makes the tax process easy particularly for the first timers. It also allowed us to save money since we can handle the process even without hiring a CPA. On top of that, I learned a lot of things while using this tool.

CONS: It is costly. And some of the available help options aren’t helpful at all. The explanations for fields are not really comprehensive and thorough. It seems like they are doing this so the user would have no choice but get in touch with the live CPA agent to be able to get answers. And in order to access this feature, one needs to pay a premium.

PROS: I am able to file taxes online, which is very convenient. I also love the quality of support. They are very reliable. So far, I have a great experience using this tool.

CONS: There was one time when the IRS reached out to me via mail because of a missing form. It happened only once (and hopefully won't happen again) but still quite disappointing.

PROS: I am able to handle tax filing and other related tasks even though I'm no expert in this field. It provides all the forms I need to fill out so all I have to do is prepare the numbers. There are tips and guides that explain stuff. There are also CPA agents that can be easily reached if you need a thorough explanation of processes. There's also an import function that QuickBook users will surely love. It's a time-saver feature.

CONS: Installing the product is quite challenging for me. There's some kind of virus. But I was able to figure out what to do with it, thanks to Google. Downloading the software, on the other hand, was a breeze.

PROS: It makes it easier to do my taxes. Since using this solution, I become more likely excited to do my taxes. I am running a small and currently just a low key business and this tool has been really a big help. It walks me through the process. There's even a final error check, which I really like because it guarantees me that everything is right and no error was missed. Lastly, the tool is always up-to-date.

CONS: I once did my taxes a bit early than I should and ended up missing out on a few tax breaks. I know this isn't really the fault of the software but it would be nice if they give warnings to the user. If I knew that would happen during that time, I would have just filed on time or just a little later. I joint file with my spouse that time so refiling was out of the options.

PROS: There are so many pros of using this product. It got a really nice user interface, comes with inbuilt help module, step-by-step guidance that is easy to understand and follow, and lets me switch between tabs seamlessly to name a few. Also, it lets us work at our own pace.

CONS: It is quite costly. Also, I feel like add-ons and frills are not important. The tool will perform just fine without them.

PROS: It allows me to import W-2s and the previous year's tax return. Also, it got really effective features for finding errors in the tax returns. On top of that, we never miss a deduction, credits or errors because it runs a final check over our federal and state returns.

CONS: It is by far the most expensive tax preparation solution I have ever come across. It charges $39.99 for filing state returns which is insanely high. They do offer a free version but it can only be used for simple returns. It cannot be used for filing like the regular 1040. Aside from the cost, it is also a bit hard to use. Electronic filing of tax returns using this tool is quite complex because it keeps on providing diagnostics.

PROS: Instead of the usual fill it out forms, they change them into questionnaires.

CONS: Some pieces of information are not carried forward to particular pages where questions that could have the same answer are being asked.

PROS: For me, the best thing about using this platform is the ability to load in W-2 as well as our bank account statements.

CONS: The instructions they give for mailing in returns is not easy to comprehend and follow. Hopefully, they make it a bit clearer.

PROS: Easy to upload information, does a lot of the work for you

CONS: Too many hidden fees, awful customer service