TurboTax Review - why 4 stars?

Shlomi Lavi / updated: Mar 09, 2022

We publish unbiased reviews. Our opinions are our own and are not influenced by payments from advertisers. This content is reader-supported, which means if you leave your details with us we may earn a commission. Learn why ITQlick is free .

What is TurboTax?

TurboTax is an on-premise and cloud-based software that helps individuals and businesses to plan and file their taxes. Here are features of this tax software:

• Stimulus hub: The Stimulus hub contains the Stimulus tax center and the Stimulus check calculator that helps individuals and businesses with stimulus resources and trackers to help individuals and businesses plan and file for tax.
• Tax calculators: The Tax Calculator feature helps businesses and individuals to calculate their taxes and know how much they are expected to file.

TurboTax is an on-premise software from Intuit. The company was founded in 1983 by Scott Cook and Tom Proulx and currently has 20,000 employees worldwide.

---

---

Who is it best for?

TurboTax State is suitable for anyone that file tax returns. Freelancers, startups and small businesses would benefit greatly from this program since it will save them the cost of hiring a tax expert. TurboTax State is straightforward and does not have any complicated features: after users answer several questions, the software will feed the information to the relevant sections and compute the tax returns automatically. TurboTax State supports importing data from federal returns to your state returns, and from other sources like 1099 and the W-2 forms.

Main features and functionalities

TurboTax State will save you time and confusion, as you will not have to struggle while filling relevant forms for your state tax returns , and will also cut your business expenses since you will not be subjected to hiring tax consultants. Once you start using TurboTax State, the following years will not require you fill everything from scratch since information from previous years is stored in the system. Calculations are automatic and validated by the system to ensure that they are accurate.

For an additional fee, TurboRax State even files your return for you, a convinient option that also ensures that tax documentation is filed on time.

What is the actual cost?

The license pricing information for TurboTax is divided into its cloud-based and on-premise deployments. For the Cloud-Based Pricing: The TurboTax cloud-based version has 3 license plans, and they are the Deluxe plan priced at $60, the Premier plan priced at $90, and the Self-Employed plan priced at $120.

For the On-Premise Pricing: The TurboTax on-premise version has four license plans, and they are the Basic plan priced at $40, the Deluxe plan priced at $70, the Premier plan is priced at $100, and the Home & Business plan is priced $110. All fees are charged when software users want to file their taxes.

ITQlick pricing score is 3.6 out of 10 (10 is most expensive). Access ITQlick pricing guide for TurboTax. You can also find here pricing information from TurboTax's website.

Pros

• The software is well designed and easy to use
• TurboTax offers step-by-step functions so users will not miss deductions
• The software is a low-cost system compared to its alternatives
• TurboTax State offers an option to e-file tax returns from the system
• Clear data reporting of all entries

Cons

• It can be hard to change ownership percentage of LLCs in this software, as complained by users
• TurboTax State should consider getting more support from financial institutions
• In the event of an error by the user, the process to rectify this is quite cumbersome and TurboTax State should find an easier way to correct that.
• TurboTax State should find other ways of getting data from other sources and save users the hassle of having to import data manually.

How it stacks up?

Access a head to head analysis of TurboTax vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is TurboTax right for you or your business?

TurboTax is a tax filing software designed for individual tax filing and Premier investment & rental property taxes, Self-employed taxes, Military tax filing discounts needs. The software company has about 14,200 workers in its 20 offices worldwide. Also, they recorded a $9.6 billion revenue in 2021.