Many of our customers can tell you, taking advantage of MAX is well worth it. Check out our FAQ regarding the many benefits of adding Turbo Tax Max to any paid version of Turbo Tax. 0
Full Answer
Is buying TurboTax's Max audit protection worth it?
The short answer is TurboTax’s Audit Defense (or any of the audit defense policies like it) is not worth it for most people. I say that as someone who uses TurboTax every year. I love its design, workflow, and convenient access to CPAs.
Is TurboTax audit defense worth it?
They will represent you to the IRS in an audit which by itself is worth hundreds in accounting fees to a CPA. If you have a simple filing then perhaps not unless you want the other benefits. In my opinion, it is not worth purchasing Audit Defense protection services through TurboTax.
How reliable is TurboTax?
TurboTax, one of the most popular and reliable brands in the market, offers three free options for filing a simple tax return this year. You have the option to file yourself, file with an expert ...
Is TurboTax live full service reliable?
TurboTax is generally pricier than everything else out there, but even though confident filers may not need all the bells and whistles that most TurboTax online products offer, many people will find the experience and the availability of human help worth the extra cost. We’ve long praised TurboTax for its design and flow.
What is Max benefits on TurboTax?
If you want someone to represent you in front of the IRS, you'll need TurboTax's audit defense product, called MAX. It runs an extra $49 and includes features such as identity theft monitoring, loss insurance and restoration help.
Are TurboTax plus benefits worth it?
Is TurboTax Plus Worth It? It depends on your specific situation. Plus provides the convenience of having your previous year's information automatically transferred to the new year's forms. It also lets you access your prior year's tax returns at a later date.
Is it worth getting TurboTax audit defense?
If you've got simple taxes like a W-2 job, and a few 1099-INT forms, audit protection isn't worth anything. On the other hand, people who take advantage of every tax advantaged account, have multiple businesses, and invest in MLPs will have tons of records.
Is TurboTax Max a one time fee?
MAX is an optional add-on package in TurboTax Online that offers a variety of benefits and personalized assistance after you file your taxes. MAX is a one-time fee for the corresponding tax year.
Which version of TurboTax is best for me?
If you have rental property and/or deductions related to stocks and investments, you should use either TurboTax Premier or Home & Business. If you are self-employed, are a contractor, or have a home business, you should not use anything less than TurboTax Home & Business. It maximizes your home deductions.
Is a CPA better than TurboTax?
TurboTax is an inexpensive option to prepare simple tax returns with algorithmic triggers for potential deductions. On the other hand, CPAs, though high-priced, are adept at handling complex financial dealings through prompt human interaction.
How do I remove MAX benefits from TurboTax?
As long as you haven't paid your Turbo Tax fees yet, you can remove the Max package:Select File on the left.Continue until you get to Step 1 Review your order, then select Start.When you get to your order summary, scroll down to Max Benefits, click on Remove at the bottom of the section.More items...•
Can I add TurboTax Max after filing?
MAX is only available in TurboTax before you file.
How far back can IRS audit?
three yearsGenerally, the IRS can include returns filed within the last three years in an audit. If we identify a substantial error, we may add additional years. We usually don't go back more than the last six years. The IRS tries to audit tax returns as soon as possible after they are filed.
Is it better to buy TurboTax or use it online?
Most people choose to use the online service. TurboTax reported that 80% of the returns it handled came from its online products. When you have a choice between buying the software you install on your computer and paying to use the service online, you are better off buying the software download.
Why is TurboTax charging me to file my taxes?
Once you attempt to enter information that is not supported by the Free Edition of Turbo Tax, the system will prompt you to upgrade to the most suitable version for your tax situation which has its applicable fee. Following is the 2020 Turbo Tax Product Guide.
How much does TurboTax full service cost?
TurboTax charges up to $119 for federal tax filing ($49 per state) for its highest “do-it-yourself tax” package. Other programs, such as TaxSlayer, charge up to $47.95 for federal tax filing ($36.95 per state) for a similar package. Along with its easy-to-use platform, TurboTax has excellent customer service options.
What is TurboTax's job?
TurboTax makes online filing of your tax return super easy. Your job is to fill out the online questions they ask during the tax filing process. Their job is to put the numbers together. You’ll start by answering basic questions such as your name, address and social security number.
How much does self employed cost?
The Self-Employed plan costs $90 to file federal taxes and an additional $40 to file your state taxes. It searches more than 350 tax deductions and credits to make sure you don’t miss important deductions. You can use it for investment income and deductions, and real estate income and deductions as well.
Does TurboTax have a guarantee?
TurboTax Live Guarantee. TurboTax Live also comes with its own guarantee. If the IRS charges you a penalty because of an error a TurboTax Live agent made, TurboTax will reimburse you the cost of the penalty, along with any interest you have to pay. TurboTax Live is available with all TurboTax versions.
Does TurboTax work on Android?
TurboTax has apps for both Android and Apple, meaning you can use the program along with your mobile devices. Online Community Support. TurboTax has a healthy online forum community where you can ask questions of other TurboTax users. Also, they’ve got a blog that shares articles on a variety of tax subjects.
Can I file taxes in multiple states?
This feature can be great if you have multiple states you need to file taxes in. You might need to file in multiple states because you’re working in several states or have rental properties in various states. You can add the multi-state filing option to any TurboTax package. See the website for specific prices.
Does TurboTax lower your tax burden?
For instance, it might suggest opening or adding to an IRA, or increasing charitable deductions. TurboTax has programs that allow you to fill out your tax return entirely on your own.
Does TurboTax provide representation?
TurboTax has two levels of audit support with their services. Audit Support offers guidance if you receive an audit notice from the IRS. This service doesn’t provide for representation during an audit, but it will help you understand and prepare for any questions the IRS has for you.
How much does TurboTax charge?
There is, however, an additional fee for this option; most users report a charge of $39.99, though this price is subject to change.
What is TurboTax free?
The TurboTax Free Edition is appropriate for filers with simple tax returns. It covers W-2 income, the Earned Income Tax Credit (EIC) and child tax credits. True to its name, it’s free — but few peoples’ taxes are truly basic, and this tier doesn’t cover as many filers as competitors’ free options.
What is included in TurboTax Deluxe?
The TurboTax Deluxe edition includes everything the Free Edition does, plus mortgage and property tax deductions, charitable donations, student loan interest, education expenses and 1099-MISC income — i.e. earnings of an independent contractor like a freelance writer or Uber driver.
Is TurboTax the same as Intuit?
Perhaps the best-known of the digital filing options, TurboTax is the tax-focused baby of Intuit, the same company behind Mint and Quickbooks. As such, it’s not surprising that TurboTax has a dazzling array of financial tools to help you during tax time as well as year round, regardless of your tax situation.
Does TurboTax have a brick and mortar office?
That could mean wasted time if you end up wanting to find a cheaper option. No physical locations: TurboTax doesn’t offer in-person, brick-and-mortar offices like H&R Block. If face-to-face, personalized service is important to you, this isn’t your best option.
Can I get free tax advice if I'm audited?
If you’re audited by the IRS, you can access the support center to get free, live, one-on-one guidance with a tax professional, as well as year-round answers to your questions and assistance on what to expect and how to prepare. This service is not, however, a replacement for legal advice.
Does Turbo Tax give you a refund?
TurboTax guarantees you’ll get the biggest refund possible. If you tally up a larger refund (or similar tax liability) with another tax preparation service, TurboTax will refund your fee (or pay you $30 if you used the Free edition).
How to get help with TurboTax?
Ways to get help 1 General guidance: Searchable knowledge base, forums and video tutorials are helpful for research on the fly. 2 Tech support: All users have access to TurboTax Assistant, a chatbot, or a contact form. Paid users get access to a TurboTax specialist. 3 One-on-one human tax help: Live, on-screen tax advice or review of your whole tax return by a tax pro is available if you buy the TurboTax Live version. These users also can submit written questions that a tax pro will answer within 24 hours.
Can you itemize on a 1040?
But it can’t itemize deductions or handle schedules 1, 2 or 3 of Form 1040, which means it probably won’t work for you if you plan to deduct mortgage interest, report business or freelance income, report stock sales or income from a rental property, or deduct student loan interest.
How much does TurboTax cost for federal review?
TurboTax Live: If you would like a real CPA or EA to review your “free” return through TurboTax Live, you will have to pay $50 for federal review and $40 per state review. If you would otherwise qualify to have your return prepared for free, this TurboTax Live service is specifically called TurboTax Basic.
What is Turbo Tax Deluxe?
The Deluxe Edition is the most popular paid TurboTax plan since it accommodates taxpayers with a typical middle-class tax situation but doesn’t necessarily have all the bells and whistles associated with the more expensive plans.
What is the first line of defense when it comes to TurboTax support?
The first line of defense when it comes to TurboTax support is the search function , represented by the magnifying glass. When you type a question or topic in the search box, TurboTax provides you with one of two things if not both: A link to the relevant part of the tax preparation screen to deal with your issue.
Is TurboTax free for state?
Unlike some tax software that gives you a free federal return but then makes you pay to file your state return, the TurboTax Free Edition is free for both your federal and state returns.
Is TurboTax a good tax preparation software?
Basics: TurboTax is the "household name" of do-it-yourself tax preparation software, and for good reason. Pros: The product itself provides an unmatched user experience, a quality app, and the ability to seamlessly handle complex tax situations. Cons: TurboTax is expensive and has a habit of upselling its customers on products ...
Does TurboTax get you the largest refund?
But like any tool, it is only as good as the skill and knowledge of the person using it. So yes , TurboTax can get you the largest tax refund to which you are legally obligated -- assuming you use it correctly.
Is TurboTax a do it yourself tax software?
Yes, TurboTax is a do-it-yourself tax software, but you aren’t left to the wolves when it comes to technical support. At the top-right of the TurboTax interface, you’ll see the three icons shown below. Each one of them corresponds to a different level of support that I describe below.
How much does TurboTax cost?
You opt for TurboTax Live Full Service: For about double the cost of filing yourself, you can hire a tax expert to take care of it all for you. The all-in cost is between $130 and $290 for a federal return. You pay TurboTax from your refund.
What are the biggest complaints about TurboTax?
One of the biggest complaints about TurboTax is the ease with which it attempts to upgrade users to the next-tier product. A 2019 investigation by ProPublica found that Intuit, TurboTax's parent company, was deliberately hiding its free filing services from Google and other search engines.
How long does TurboTax store tax returns?
Tax return storage. TurboTax will store your finished tax returns in your account for up to seven years.
What is TurboTax guidance?
Guidance for important tax forms. TurboTax tells you what you need to enter to do your taxes based on your unique circumstances. Get step-by-step guidance and directions for most tax forms. Mobile version. Work on your taxes on the mobile or web versions, or switch back and forth.
What is the best tax software for 2021?
Best tax software in 2021. Best rewards credit cards. Average stock market returns. TurboTax is the biggest and most popular tax-preparation software, handling a solid 30% of electronic filings, according to a report from Moody's.
Is TurboTax good?
TurboTax is pricey, but it has a good user experience with the option to upgrade for expert help. Self-employed filers who use QuickBooks will find TurboTax especially valuable. See Personal Finance Insider's picks for the best tax software ».
Does TurboTax cover taxes?
While some people with very complex or unique situations may feel more comfortable with the direct assistance of a tax professional, the majority of tax situations are easily covered by TurboTax. TurboTax offers online and desktop versions of its software, with different prices depending on your tax filing needs.
Who Should Use TurboTax?
Whether you’re an experienced tax preparer or have little knowledge of tax law beyond knowing you need to file, TurboTax makes tax filing easy by walking you through the process with interview-style questions and options for live, on-screen support when needed.
TurboTax Pricing
TurboTax offers several pricing options, starting from a free version for users with straightforward tax returns to pricier packages for people who’d rather turn their taxes over to a professional.
TurboTax Ease of Use
Preparing your tax return with TurboTax is a lot like sitting down with a tax preparer. The software walks you through the tax preparation and filing process with a series of interview-style questions.
How TurboTax Stacks Up Against the Competition
Although TurboTax offers an easy-to-use process with helpful interview-style questions and options to obtain help when needed, it‘s a bit pricier than its competitors.
Frequently Asked Questions (FAQs)
Yes—but only if you fit a very specific profile. Only taxpayers with the simplest returns (generally, this means W-2 income, claiming the standard deduction, and potentially the Earned Income Tax Credit and child tax credit) qualify for free federal and state tax filing from TurboTax.
