Product Review: TurboTax Home and Business Online Edition

Product Review: TurboTax Home and Business Online Edition

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The TurboTax Home & Business online edition is a reasonably priced tool that enables you to file your federal and state taxes on your own. It would actually cost you much less than hiring a CPA and just add to this it is a fairly simple software to use. The TurboTax Home & Business Online Edition is aimed at saving valuable time by simplifying the process of filing returns. Guidance is provided at every stage to assist you in preparing your personal taxes.

Listed below are some of the features of TurboTax:

Guides to maximize your refund

TurboTax charts out your path to maximize your refunds. With the help of it’s mapping icons, flags as well as the accuracy check, you have the ability to remain in control of the time and process of preparing your returns.

Helps you with your investment

TurboTax Home & Business Online Edition can analyze losses and gains and assist you in capitalizing on tax benefits on mutual funds, RRSPs as well as other investments. With these tools, you will have the clarity needed to fill out the most complicated personal tax returns. The TurboTax Home & Business Online Edition points out never-known-before deductions, which ultimately mean a smaller amount of tax payable.

Guides you on rental property

Owners of rental property can greatly benefit from TurboTax Home & Business Online Edition as expenditure made on your rental property can be claimed. The tool will allow you to assess the expenses that qualify and offers excellent tips for refinancing.

Helps you handle Life change

TurboTax Home & Business Online Edition helps find answers to real life questions that affect your life on a regular basis. In turn, these answers are used to translate into fields on tax forms. So while your life may undergo various changes, this tax software is able to handle it all with finesse.

Offers Tax benefit by dividing pension income

The Pension Income Splitting Optimizer recommends the most suitable allocation of the pension income and this assists you and your partner to pay less money in taxes.

Helps you Maximize RRSP contributions

The TurboTax Home & Business Online Edition’s TurboTax’s RRSP Optimizer Tool helps you in establishing the maximum RRPS contribution suitable for you and your spouse by analyzing how different contribution totals have different effects on returns.

Ensures deductions that save you money

The TurboTax Deduction Toolbox makes sure that you do not neglect any items such as charitable donations, tuition as well as medical expenses that can be claimed.

Utilizes previous year’s information

You have the option of removing the human error factor with the help of the TurboTax Home & Business Online Edition, which permits you to automatically update your current return with information as well as carried over amounts from the previous year’s TurboTax return.

Offers Automated method of doing taxes

The TurboTax Home & Business Online Edition automatically has the ability to enter the required data on the appropriate tax forms by importing tax slips from your payroll’s website. All you would be required to do is check your return. The tool carries out appropriate checks which leaves no room for error.

Sends Audit risk alert

The new Audit Risk Alert informs you of a possibility of a tax audit prior to filing. In this way, you can decide about the deductions that you have already claimed and also prepare yourself with representation through the addition of Audit Defense to your product.

Allows online filing

Online filing is not only convenient but it is an eco-friendly way of filing your tax returns. With NETFILE, you will have a unique opportunity of getting your refund in as less as eight days.

Overall, this is a wonderful software that will save you time and make your tax process simpler.

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