TurboTax 2018 - 2019 Beginners Guide to Tax Return Preparation
As a newcomer to tax filing, things might look a little intimidating, However, preparing and filing your tax return doesn't have to be complicated. Fact is, the right tax software is the main tool that will guide you through the entire process in a plain English no mumbo jumbo fashion. You can learn a lot about the tax system, tax advantages, deductions, benefits, and credits to see how future tax planning can help you make better financial decisions. Fact is, you'll find you have far less stress once you've filed your first return and gained the knowledge of knowing just how easy it is. TurboTax can help you do just that!
TurboTax First Time Filer Beginners Guide
So your looking to prepare your own tax return for the first time but worried it might be a big challenge? Not to fear! TurboTax 2018 - 2019 software programs are here to help, and here a several tips to comfort you right off the get go.
- TurboTax will guide you through the process one step at a time
- The process starts like an interview, and simple questions are asked to understand your needs
- Answers to the question are used to see what tax breaks can be applied for your benefit
- All entries are place on the proper forms as you progress through the tax preparation process
- Any oddities that could trigger an audit are brought up for your review and changes if applicable
- Your predicted refund amount is calculated as you go to see how each entry effects your taxes
- The final figures are automatically double checked to ensure accuracy
- Your tax return is efiled electronically to ensure and confirm it's delivered to the IRS
- Your refund can be direct deposited right into your bank or checking account
Does all that ease some of the tension? It's easy to be stressed when you don’t know what to expect, but trust me, you have nothing to worry about!
The TurboTax 2018 - 2019 tax season programs are all up to date with the latest tax laws so all is good for accurate guidance. There is no need to worry about whether you’re doing it correctly or not, TurboTax is making sure you are! No need to question whether you have everything you need, TurboTax helps you gather all the needed documents.
TurboTax IRS Representation Support
There's no need to fret over the ramifications of making careless mistakes, TurboTax guarantees accuracy and backs it with a warranty. If you receive a notice from the IRS, and you're not sure what to do, TurboTax has you covered. Not all IRS notices are related to audits, and TurboTax will help you determine why you were contacted and what to do next. But if you are audited, TurboTax steps in to help with guidance for that as well to help you take the right steps as needed. A lot of questions like these may have been going through your mind when contemplating preparing your income taxes for the first time, but there's no need to worry with TurboTax support by your side!
Filing generally isn't complicated for newcomers because most first-timer tax filers are dependent-free and in a position to file a simple version of the Form 1040. First time TurboTax tax software users are guided step by step regardless of the complexity of their tax filing needs. If your taxes become more complicated, all the needed schedules and forms are included to provide all the information necessary to prepare your tax return for the IRS.
Is TurboTax 2018 - 2019 The Best Choice For Me?
It's a great question and in reality, for simple tax filing needs, just about any brand could work well enough. The changes to that thought lean more toward the top rated brands once you start getting into more complicated returns with investments, deductions and self employment income tax filing needs.
Personally, I can't see paying some tax service CPA or accountant over $250 for something that I can do myself. After-all, tax return preparation with today's TurboTax tax software is a breeze. With top notch tax program choices form TurboTax, an interview process is designed to simplify and eliminate what you don't need based on your tax filing situation in order to make the process as short and sweet as possible. Plus. as stated earlier, what you gain in knowledge for future tax planning is priceless!
Which TurboTax Version Should I Choose, Online Tax Preparation vs. Download / CD Software
TurboTax 2018 - 2019 Online Tax Preparation
- Online tax preparation skirts the issue of installing software on your computer by working online over a secure connection to the TurboTax website
- The TurboTax Online Internet Tax Filing option is inexpensive. Taking your tax return to an accountant can be a costly process. With online tax preparation you can estimate your tax return refund and get help and support with filing your tax return at a fraction of the cost of hiring someone to prepare it for you.
- It helps you easily e-file your return. Calculating your tax return online makes it easy to file your return online by (e-file) or file for a tax return extension if you so choose.
- It’s easy. You will be guided through each of the forms that are often hard to understand. And, if you use the same provider every year, you'll be able to transfer in data from a past year's return.
- It catches errors, and red flags audit triggers. Filling out a form incorrectly can lead to added stress or even a penalty from the IRS. Online tax software helps you avoid these mistakes.
- It helps maximize your deductions. You'll get help with claiming industry-specific deductions to help insure that you are getting the biggest refund available from your tax return.
TurboTax 2018 - 2019 Desktop Tax Software Programs
Features in TurboTax Tax Software Programs include:
- Desktop computer based tax software allows taxpayers to work on their return without the need for an internet connection.
- Easily sign up and establish a TurboTax account online to download your software, or purchase a CD
- Install your software and your ready to begin the tax preparation process anywhere you want to work on it.
- Looks for tax deductions as you go and checks again when done
- Tracks audit risk
- Can transfer previous year’s data
- Extensive tax resources for complex returns
- Imports financial data from Quicken, QuickBooks, MS Money, previous returns.
- Guides you smoothly through an interview process.
- Instant access to tax information and advice.
- Helps you maximize tax savings.
With TurboTax e-filing is free with the purchase for one person. With the online service you can fill in all of the information and only have to pay when you choose to print or electronically file your return, which means you can fully test it before you pay. Plus, below is a TurboTax beginners guide to additional tax services.
TurboTax Additional Tax Preparation Services
- Life Events Expert: Explains how changes such as the purchase of a new home, changing jobs, or becoming a parent, can affect your tax return.
- Guide Me: Can offer assistance line by line.
- Includes a summary of your return, including income, tax, credits and payments.
- Presents recommendations to help you get a larger refund the next year
How TurboTax Software Handles State Tax Fling
Typically, you will pay an additional fee for the state tax products but TurboTax does offer the Absolute Free offer of Free Federal, Free State, and Free efile for a limited time each tax season for qualified simple return tax filers.
For higher end TurboTax programs including Deluxe, Premier, and Premier Home and Business the price for a state add-on may be listed as a state add-on price, or it may already be included in the price if you selected a combination packaged. These packages can include Federal, and State tax refund software as well as personal finance products like Quicken or Microsoft money.
These TurboTax 2018 - 2019 tax software programs automatically import any relevant information from your federal to your state return, saving you time and effort.
With TurboTax tax software you can keep more cash for yourself instead of giving it to Uncle Sam. Support and guidance for taking advantage of every deduction possible is implanted into these programs to ensure your not missing any opportunity to increase your refund.
Prepare your taxes and educate yourself all at the same time, you'll learn how to properly prepare during the year to take advantage of every tax break you can. That will help leave more money in your pocket instead of passing it on to the IRS.